CuDeco Limited - Ore feeding commissioning starts as Rocklands picks up speed
CuDeco Limited’s Rocklands Group Copper Project continues to build momentum, with the Company announcing today the start of ore feed commissioning at the flagship Cloncurry plant in north-west Queensland.
The latest development follows the Queensland mining company’s appointment of a new Managing Director, Dr Dianmin Chen, and the successful completion of a $63 million Rights Issue, ensuring the 100% owned project is fully funded through to commissioning.
Since CuDeco’s previous project announcement (refer ASX announcement, 16 May 2016) all large items of plant namely the Crushing Circuit, the High Pressure Grinding Rolls (HPGR), the Ball Mill and the Flotation circuits have all been tested and are operating satisfactorily.
The ore feed commissioning commenced with the first stage of conveying ore up to the HPGR feed on 29 May 2016. The second stage of processing ore through the HPGR has successfully commenced and it is planned over the next coming weeks to ‘work’ the ore through the various subsequent stages in the processing plant.
Once the ore is through the full process, the next stage will be to increase the amount of ore to be processed through the plant, and to optimise the performance of all the individual processing units and process sections.
First shipment of product is still expected prior to the end of June, with first receipts thereafter according to the terms of the offtake agreement.
Commenting on the latest development, CuDeco’s Managing Director Dr Dianmin Chen, said: “The ore feed is an important milestone for the full commissioning of the Rocklands processing plant as we work towards the delivery of near-term cash flow. Management, operators and contractors continue to work hard to ensure the commissioning is completed as quickly as possible, and I look forward to updating shareholders on our progress as we deliver new jobs, revenue and other economic benefits to all stakeholders.”
On behalf of the Board.