13 February 2024
13 February 2024
The company has been the primary funder of the nickel project, which has repeatedly failed to turn a profit, for more than ten years.
No new open-pit mining concessions have been granted since 2018.
The project comprises seven mineral claims spanning 3,061 hectares (ha) and includes a 6.5km stretch of an 18km conductive corridor.
The first revenues from copper concentrate sales are expected this week.
Horizon shareholders will own 63.1% of the merged entity, with Greenstone shareholders holding the remaining 36.9%.
Stanmore will acquire the stake in the Eagle Downs project for $135m, which includes an upfront cash payment of $15m.
Environmental campaigners say the resolution sends a strong message about the bloc’s stance on the practice.
It will be the first facility in Australia to produce graphite products for customer acceptance testing.
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