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StumbleuponAs one of its goal in building a leading global metals and minerals business, Minerals and Metals Group (MMG) said that it will be spending A$97.4 million (US$88.1 million) on 3 major projects which are based in Australia and Asia.
After the parent company, China Minmetals Non-Ferrous Metals Co Ltd bought in most of OZ Minerals Ltd's assets for A$1.53 million (US$1.386 billion), only then was the unlisted Melbourne-based MMG was formed.
Also, in order to grow its production capacity at the Sepon copper mine in Laos, MMG had stated on Wednesday that it would be spending $US60.4 million.
As for the designing and constructing a flotation de-sliming circuit at Sepon for the improvement of pyrite recovery, MMG has further pledged to invest A$4.09 million (US$60.4 million).
It also seems that with the Sepon expansion projects, there will be an annual increase in copper cathode production hitting a nameplate capacity of 80, 500 tonnes as compared to the initial 65,000 tonnes.
Besides, A$26.5 million ($US24 million) would be spent for the designing and construction of a new tailings storage facility at MMG's Golden Grove zinc-copper-lead mine which is located in Western Australia.
The company commented that with the new tailings storage facility at Golden Grove, the continuity of mining operations with up to 15years of tailings storage capacity would be ensured.
It also signalled last month saying that it would be considering the possibilities of revisiting mothballed projects including the Sepon expansion.
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