Proposed copper mine aims at green energy market

The NT Government has approved a proposed copper mine 380km from near Alice Springs.

The government says the Jervois Base Metal Project could create 350 jobs.

The mine would include on-site processing and production of a copper concentrate and lead-zinc concentrate, according to a media release from Mining minister Nicole Manison.

Photos and map, KGL website

But it appears prospective miner KGL, which has been investigating the site since 2011, is still looking for financial backers for the project.

KGL Chairman Denis Wood said a  “pre-feasibility study” (PFS) showed the high-grade Jervois deposit would support a “robust” initial 7.5-year mining operation.

“We are confident the drilling about to start in the new year will improve the quality and size of the resource,” Mr Wood said.

The chairman said the new information would be fed into a full feasibility study.

“Work is already well advanced on the FS which we expect will improve the economics of Jervois even further,” he said on the KGS website.

“With the PFS completed and the authority to mine now in place, discussions have begun on project financing and the marketing of the mine’s concentrate.”

Wood said: “Jervois is exceptionally well placed to enter the world copper market as a supplier.

“It is a high-grade deposit 9.4 million tonnes at 2.41% copper reserve at a time of declining copper grades among the major copper mines and constrained copper production generally.

“At the same time demand is expected to increase strongly for copper in both emerging green energy and electric vehicles uses as well as traditional construction, electricity transmission, communication and consumer goods applications.”