New Century Resources Ltd (ASX: NCZ) – a $640 million market cap mineral exploration company based in Western Australia – will restart its Century mine operations in August 2018 as part of plans to become a global top 10 producer of zinc.
In a North American investor presentation, New Century detailed its Century mine was on track for first production in August with a focus on site rehabilitation and the utilisation of existing infrastructure.
A feasibility study is underway to determine a possible mine life expansion at the site and further exploration potential, but the project restart is fully-funded and poised to take full advantage of the forecast for a 2% annual increase in global demand for zinc.
New Century base metal peers include Sandfire Resources NL (ASX: SFR) whose shares have dropped back today, down 1.8% to $9.52, despite printing a 52-week share price high on June 12 when its shares hit $9.91.
Western Areas Ltd (ASX: WSA) and OZ Minerals Limited (ASX: OZL) are following Sandfire into the red today, down to $3.64 and $10.11 respectively.
