Young Australian Mines
Young Australian Mines (formerly Moly Mines) is a Queensland-based, public unlisted, mineral exploration company focused on copper-gold projects in the Cloncurry mineral province.
In 2010, YAML developed the Spinifex Ridge Iron Ore Mine which operated successfully until 2014, producing direct shipping ore exported through Port Hedland. In mid-2013, after operating the Spinifex Ridge Iron Ore Mine for approximately two and a half years, YAML completed a mine gate sale agreement for iron ore produced at YAML’s Spinifex Ridge Iron Ore Mine, thus disposing of its main undertaking. The money generated from the mining operation and the mine gate sale has been preserved to invest in future mining opportunities.
YAML currently only owns the Spinifex Ridge molybdenum-copper project located in the Pilbara region of Western Australia. The project was progressed to full permitting and definitive feasibility study in 2008. Subsequently, the development of the project was postponed as the project’s economics did not support the funding for the development of the project and a final investment decision. The project currently remains on care and maintenance.
In early 2018, YAML completed the acquisition of Queensland Mining Corporation with the intention to develop its flagship copper project, White Range.
The company was formerly known as Hibernia Gold Limited and changed its name to Moly Mines Limited in April 2005. The company was removed from the ASX in April 2017.