MT. ISA PLANS
Spending In 3 Years Mount laa Mines, IM, ha* obtained tadtoattoas at new deep teved copper ate bodies which would mean a eubstentM addition to ore reserve*. The chairman, Mr G. R. Reber, atao says in a statement with the annual report that the company plans to spend a further £23m in the next three years. Many years of exploretion would be required to determine the extent of the new ore bodtes, he said. “Resufis of exploration have been satisfactory and when these new ore bodies are firmly delineated a substantial addition to ore reserves will be made,” Mr Fisher said.
The new finds confirm the generally accepted view that Mount Im has ore for more than 50 years' more mining at increased production rates. It indicates that available ore is even larger than had been thought.
Mount Isa's published or* reserves increased by 2.5 m to 29.5 m tons of copper ore and by O.tin to 26m tons of silver-ked-zinc ore at June 30 and are regarded a* conservatively stated. Mr Fisher said that most of the noteworthy ore intersections in the new finds were at substantial depths.
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Press, Volume CII, Issue 30274, 29 October 1963, Page 19
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192MT. ISA PLANS Press, Volume CII, Issue 30274, 29 October 1963, Page 19
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