$EVN ⛏️
#EVN
#EvolutionMining has secured an 80 per cent stake in the Northparkes copper-gold mine in New South Wales.
Northparkes in made up of an underground block cave mine, a sub-level cave and an ore processing plant which produces copper concentrate for export. In 2021, Northparkes produced 6.77 million tonnes ore ore, with a
#copper recovery of 82.8 per cent and a gold recovery of 69.1 per cent.
Evolution expects Northparkes to produce roughly 19,000 ounces of
#gold and 12,500 tonnes of copper in the first half of 2024.
The transaction aims to diversify Evolution’s portfolio and increase its exposure to copper, which the company expects will provide up to 30 per cent of its revenue in the 2023–24 financial year.