New Century Resources has loaded its first zinc concentrate on the MV Wunma from the restarted Century operations.
|Inside the MV Wunma with first concentrate being loaded|
The activities represent a major milestone for the Company just 15 months after listing New Century Resources on the ASX, demonstrating the viability of the operation’s entire logistics chain from hydraulic mining to tailings reprocessing, slurry pipeline operations, port operations and concentrate transhipment.
Commenting on the completion of the first transhipment of concentrate to the export vessel, New Century Resources Managing Director Patrick Walta says that the milestone represents an incredible achievement by the entire New Century team.
“To start shipping concentrate just 15 months after listing is a testament to the strong dedication and culture within the company.
The entire team should be proud of their role in the achievements of the business to date, which is creating a strong platform for continued growth at Century and beyond.”
The first shipment from Century represents 10,000 tonnes of the commissioning grade concentrate, which is to be delivered to contractual specification and contains no penalties for lead or carbon and only an immaterial penalty for silica.
The first parcel under shipment is being delivered to one of the largest smelting groups in China.
While the Company continues to progress toward achieving long term production of its steady state concentrate via the load commissioning process, it has received strong market demand for its current commissioning grade concentrate, with all production to date sold.
New Century has also reported a further forward sale of 10,000 tonnes of commissioning grade concentrate for shipment to China in January 2019, generating a further AU$15.3 million in revenue from operations; as well as bids from existing offtake partners for the purchase of commissioning grade concentrate over and above current long-term offtake contracts, for potential delivery into both Europe and Asia.