Dianne copper project bolstered by Queensland Government

Revolver Resources has received $1.3 million from the Queensland Government’s…


Revolver Resources has received $1.3 million from the Queensland Government’s Critical Minerals and Battery Technology Fund to fast-track key technical and design workstreams on its Dianne copper project.

The Dianne copper project is located about 260km from Cairns in far north Queensland. It contains an indicated and inferred mineral resource that equals 1.62 million tonnes at 1.1 per cent copper.

The Queensland Critical Minerals and Battery Technology Fund will support Revolver Resources fast-track the completion of the project’s SX/EW process engineering design and site engineering design by up to six months.

“We are extremely pleased to be the recipients of the very first grant made by the Queensland Critical Minerals and Battery Technology Fund,” Revolver Resources managing director Pat Williams said.

“Given the stated objectives of the fund, I believe that this demonstrates excellent validation of the production potential of our Dianne copper mine project.

“Critically, this non-dilutive funding source enables us to rapidly unlock the final feasibility pathway towards a targeted recommencement of mining operations at Dianne within the next 12–18 months.”

Queensland Resources and Critical Minerals Minister Scott Stewart congratulated Revolver Resources on receiving the funding.

“The renewal of old mines is a key action identified in our Queensland Resources Industry Development Plan and it’s great to see Revolver Resources take advantage of the opportunity a legacy operation like this is presenting,” Stewart said.

Revolver Resources seeks to re-establish the Dianne mine in line with the rising global demand for copper. Copper is considered a strategic mineral in Australia and is essential to the world’s global energy transition, notably through the supply for electric vehicles (EVs), EV charging infrastructure, batteries, and renewable energy generation.

Subject to a positive financial investment decision, the Dianne project is expected to support about 23 new full-time jobs alongside 10 apprentices and trainees opportunities.

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *