MMG finalises sale of $25million Avebury nickel mine

Minerals and Metals Group Limited (MMG) has announced that is completed a $25million sale agreement for its Avebury Nickel mine, following an extended period of care and maintenance.

The mine will be owned and operated by the Tasmania based privately owned exploration and mining development company Dundas Mining.

General Manager – ASEA Operations, Gus Gomes said that MMG believes this offer represents the best outcome for both MMG and the Avebury asset.

“Dundas Mining is committed to a restart of the mine and MMG is confident that the sale will reinvigorate the Zeehan area, by providing new jobs and economic benefit to the region,” Mr Gomez said.

“MMG would like to thank the Tasmania Government, West Coast Council, local community members and all other stakeholders in the region for their ongoing support throughout the sale process.”

“MMG remains committed to Tasmania and our local community through our Rosebery operation, and we will continue to make an important social and economic contribution to the State and West Coast,” Mr Gomez said.

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Avebury nickel mine

The Avebury Mine, located in West Tasmania, has been in care and maintenance since 2009 and Dundas Mining will look to bring Avebury back to production “as soon as possible”.

Dundas Mining was announced as the mining operator prepared to purchase Avebury back in January this year (2017).

MMG had previously committed AUD $3million in drilling work at the mine as part of a technical review to analyse the remaining nickel potential at the mine, while monitoring the nickel market price which was the direct reasoning for placing the mine under care and maintenance.