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Terramin to acquire mine from Kitticooler Holdings

Mining News - Published on Fri, 11 Jan 2019

Image Source: Terramin Australia Limited
Terramin Australia Limited announced it has reached agreement with Kitticooler Holdings Pty Ltd to acquire a 100 per cent of Private Mine No 53 (PM 53) located near Palmer, South Australia. This is an exciting opportunity at a time when the Australian gold price is near record high. PM 53 covers the historic Kitticoola copper gold mine that was operated intermittently between 1846 and 1971. Kitticoola is located 2.5km south of Palmer and approximately 62km by road from Terramin's Angas Processing Facility (APF) at Strathalbyn,

Kitticoola has had only limited modern exploration and presents significant synergies with Terramin's other assets. If successful, exploration would provide additional feed to processing planned for the Angas facility at Strathalbyn. Operating the two projects would potentially increase local employment from the forecast 140 roles already earmarked for Woodside and Strathalbyn."

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Posted By : Rabi Wangkhem on Fri, 11 Jan 2019
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