Acquisition sees NQ explorer transition into producer

Posted March 5, 2015

A recent acquisition has seen a small north Queensland exploration company successfully transition into a medium sized base metal production and project development company.

Consolidated Tin Mines (CSD) acquired Snow Peak Mining (SPM) assets in January this year.

The acquisition sees CSD transform from a junior explorer with 13 employees to an operating miner and producer with active development projects and 134 employees, The Cairns Posreported.

The company currently produces more than 300 wet metric tonnes per day of zinc, lead and copper concentrates with a silver co-product.

 

Company asset update 

Surveyor Mine

The Surveyor Mine continues to be a 24/7 operation, mining approximately 30,000 tonnes per month of poly metallic ore.

The ore is trucked continually to Mount Garnet by road train.

 

Mt Garnet Mine

The company’s first half results reported more than 100,000 tonnes of primarily high grade zinc ore was mined.

In December, the operation was put into care and maintenance for the wet season.

Mining is planned to recommence at the end of the current wet season.

 

Mount Garnet Mill

The Mount Garnet concentrator continues to operate 24/7 producing approximately 2,500 tonnes of zinc metal in concentrate, 700 tonnes of lead metal in concentrate and 180 tonnes of copper metal in concentrate per month.

The concentrate is transported to Townsville Port by road train and shipped offshore.

 

Mount Garnet Tin Project

The company plans to convert its operating mill to tin processing as a medium term initiative.

The initial tin project production target will be scaled down from 1mtpa to approximately 300 ktpa throughput (approximately 2,000 tonnes of tin metal in concentrate pa).

The Mount Garnet Tin Project Definitive Feasibility Project (DFS) is on schedule for completion by mid-2015, with targeted tin production estimated for early 2016.

 

The expanded company is also establishing a new senior management team, which will be announced later this year.

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