Jul 01, 2020

Quarry yields handy income at Mount Carbine

Quarry yields handy income at Mount Carbine

Mount Carbine Quarrying Operations has received a $4 million purchase order from Bama Civil for the supply of various quarry materials.

Owner Speciality Metals International said delivery of the material was scheduled for the December half, as Bama completed a road construction project on the Peninsula Development Rd in Far North Queensland.

It said the quarry’s order intake had improved throughout May and June with the easing of COVID-19 travel restrictions and recommencement of construction projects around Far North Queensland.

Preparation of additional quarry material stockpiles has begun with several products produced and ready for dispatch from the site, 80km north-west of Cairns.

Speciality Metals International, in joint venture with CRONIMET, recently started a tailings retreatment operation at the associated Mount Carbine tungsten project.

“This is a critical step for the Mount Carbine quarry becoming a consistent cash generating asset for the group,” chief executive officer Kevin MacNeill said.

“As we move forward with the further ramp-up of the tailings retreatment operation and the reassessment of the open pit and underground resource, efforts to modernise the quarry and expand marketing efforts on the various products produced will be key to increasing profitability.

“It will also give the company financial flexibility to implement its strategy beyond the Mount Carbine asset.

“We are confident we will continue to develop our quarry project pipeline with the focus on industrial development and infrastructure projects in Far North Queensland. The company has several tenders outstanding at present.”