In a major announcement this week, Territory and Native Copper (TNC), the world’s largest integrated copper producer and explorer, has given the go-ahead to resume a major copper mining project in Cloncurry, Australia.
TNC’s green-light approval marks the opening of new vistas and a brighter future for the local copper mining industry. The development follows a strong collaborative effort between TNC, the state-run Great Australia Mine (GAM) and Wallace North (WN).
Cloncurry is home to some of the largest copper ore bodies and boasts a high grade copper deposit endowments, initially discovered by TNC nearly a century ago. Now, TNC’s Cloncurry Copper Project will be the first of its kind to be revived in Australia.
As a component of the project, TNC will partner with wallace north to develop mine infrastructure. This partnership will facilitate an efficient and smooth execution of TNC’s ambitious project. Additionally, TNC plans to sustain long term jobs and create training and education opportunities for locals.
Moreover, TNC has joined hands with GAM to explore and develop a new copper-gold mine. This joint venture position both the companies in a strong position to explore new opportunities and capitalize on the existing industry strengths.
According to experts, TNC’s Cloncurry copper project will not only revive the mining industry in Cloncurry, but it will also enhance the functionality of the region as a whole.
“We are incredibly proud of this project and all the hard work of everyone involved,” said TNC CEO, Bill Dubey. “This is a long-awaited opportunity to bring a major copper mining operation back to the region. We are dedicated to ensure that the Cloncurry copper project will benefit the local economy and secure jobs in the long-term.”
Ultimately, this major announcement by TNC indicates how well the copper industry is faring amidst economic downturn and revision threat. This strategic move by TNC marks a clear shift in the industry towards a more viable and sustainable future. With this, TNC has surely moved a step closer towards prospering the copper industry.