NORTHPARKES TO FOCUS ON LONGER MINE LIFE
Northparkes Mines will focus on mine
life extensions for the Step Change Project as opposed to a
significant expansion of the mining operations. The new option
extends the mine life from 2024 to beyond 2030.
The decision comes after thousands of modelled scenarios found
that the best opportunities for creating value for the mine come
from focussing and investing in the existing business. A number of
factors impacted on the ability to significantly expand the mine
including rising capital and operating costs, exchange rate and
general economic conditions.
Northparkes managing director, Stefanie Loader said the
prefeasibility study found that the best way to grow the business
value of Northparkes is to take forward mine life extension
Essentially this means that Northparkes will not require large
amounts of additional water or accommodation alleviating the need
for additional water pipelines or construction camps to be
"Two concerns coming back during our environmental and community
studies were increased water use and construction accommodation
options, the new option does not require a large additional water
footprint or a construction camp," Ms Loader said.
The study team will now move their focus to options that extends
the current mine life beyond 2030.
Northparkes will seek approval of the new mine life extension
option with the State Government.