Xstrata zinc mine well ahead of schedule
Mining giant Xstrata announced production had begun ahead of schedule at its Lady Loretta zinc mine in north-west Queensland, Australia.
Mining giant Xstrata announced production had begun ahead of schedule at its Lady Loretta zinc mine in north-west Queensland, Australia.
The mine was originally supposed to start production at the end of 2013, but first deliveries of zinc-lead-silver ore to the company's Mount Isa processing plant are now set to begin later this month.
Chief Operating Officer of Xstrata Zinc Australia Brian Hearne said the project was of significant importance to the firm's production profile.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"It is certainly a fantastic achievement to have production well ahead of the original schedule," he said.
Full scale commercial mining at Lady Loretta will begin in mid-2013, delivering an estimated 1.2m tonnes of ore per annum when it hits full production.
The firm expects this to boost annual zinc production at its Zinc's Mount Isa operations by 20% and provide 230 permanent jobs.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Zoopla: House prices slows to 1.4% in May as rate of sales at four year high
The average UK property now costs £268,400, Zoopla says, but some areas of the country are experiencing much higher price growth than others.
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator