NQ Minerals Closes Acquisition of Tasmania Gold Mine

SEATTLE (Scrap Monster): London listed and Australian based base and precious metals production and exploration company NQ Minerals announced that it has formally taken possession of the Beaconsfield Gold Mine in Northern Tasmania. The company press release noted that it has signed all necessary agreements to take immediate possession of the mine, which has been in care and maintenance since 2006.

Announcing the decision, David Lenigas, Chairman, NQ Minerals said that the company is delighted to have completed the acquisition. It looks forward to bring the mine back to production at the earliest. The company looks forward to bring back jobs and economic activity in Beaconsfield and surrounding towns. Nearly 250 people will be employed, either directly or indirectly. The company will ensure that local people and contractors will be employed, as much as possible.

The immediate focus will be on refurbishing the processing plant. The first pour is expected towards end-2020 or early-2021. Lenigas expressed confidence that the great pool of local talent will help the company tackle the challenges ahead. NQ Minerals will conform to highest possible environmental standards through implementation of state-of-the-art systems and technologies.

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