Roseby Copper Project

A Definitive Feasibility Study was undertaken for the 2.5Mtpa Copper Flotation Processing Plant and associated infrastructure with 4 variations, developing the following concepts: Mill feed based on blend of oxide (native copper) and sulphide ores; initial capital costs minimised, with non-essential equipment installed later and paid for out of operating cash flows; accommodation village supplied by third party; mining undertaken by contractor; power provided from Mt Isa area grid via a powerline from Chumvale (near Cloncurry) to Roseby Plant-site; cost estimate of hired on -site power generation should grid power not be available on time for commissioning; scoping study, with capital and operating costs estimated to an accuracy of +/-30%, undertaken on basis of expanding operation up to 8Mtpa following assessment of orebody and operating plant performance in first six months of operations.