MMG Limited (MMG) has completed the sale agreement with Dundas Mining for the purchase of its Avebury nickel mine, for a total consideration of $A25 million.
Dundas Mining is a privately owned exploration and mining development company based in Tasmania.
Dundas Mining plans to bring the Avebury operation back into production as soon as possible.
The Avebury mine has been on care and maintenance since 2009. MMG initiated an internal review and external expression of interest process for the asset in 2011.
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.
All further enquiries with respect to the transaction should be directed to Dundas Mining.
Source: Press Release
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