OZ Minerals has pushed the button on the project despite a $600 million capital increase, proclaiming the asset's enormous potential as a modern mine in an era of decarbonisation.
The EPA has recommended approval of OZ Mineral's proposal to mine nickel and copper in WA's Musgrave Ranges in what could be a first for the region if fully approved.
Adelaide's OZ Minerals has upgraded the value of its recently acquired West Musgrave project in WA by $200 million, while also lifting the mine's planned nickel and copper production.
OZ Minerals is set to gain full control of the West Musgrave nickel-copper asset in Western Australia after announcing a friendly takeover of project partner Cassini Resources.
Oz Minerals and Cassini Resources believe their West Musgrave nickel-copper project in Western Australia can be a long-term, low-cost operation, following completion of a pre-feasibility study that found the mine's development cost would be about $995 million.
Following OZ Minerals' 50.1% ownership of Avanco Resources, it has appointed Andrew Cole as non-executive chair, and Mark Irwin & Warrick Ranson as non-executive directors of Avanco.
OZ Minerals has progressed its joint venture with local explorer Cassini Resources at the West Musgrave nickel-copper project after positive results in a further scoping study.
NRW Holdings is in line to receive a $111 million contract for work on OZ Minerals' Carrapateena gold-copper project in South Australia, which today was given the green light for development.
Mining contractor Byrnecut has won a contract to expand OZ Minerals' Prominent Hill copper-gold project in South Australia, with the work expected to cost about $12 million.