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Share price: XTA.L GBp 3160.00 (0.00%)

Xstrata Copper / Australia

Mount Isa Mines

Xstrata Copper: World > Australia

Xstrata Mount Isa photo
Detail label Value
Location North Queensland, Australia
Products Copper
Employees Approximately 4,500 people
Annual production capacity 190,000 tonnes of copper in concentrate, 240,000 tonnes of copper in anode

Description of Operation

Mount Isa Mines (Xstrata 100%) operates two separate mining and processing streams, copper and zinc-lead-silver. Mount Isa Mines’ copper operations include two underground copper mines -Enterprise and X41 from which 6.5 million tonnes of ore is mined per annum; a concentrator with 7 million tonnes per annum capacity; and a copper smelter.

The Enterprise mine is the most recently developed copper ore source at Mount Isa and is Australia’s deepest mine, with an internal shaft which reaches a depth of 1,900 metres

A new leaching project will recover 2,500 tonnes of copper per annum from the copper smelter’s electrostatic precipitator dust. Additionally, Xstrata Copper is expanding the Mount Isa copper smelter from 240,000 to 300,000 tonnes per annum.

Brief History of the Operation

Prospector John Campbell Miles discovered silver-lead ore at Mount Isa in 1923. Mining began the following year and Mount Isa Mines was formed. During Mount Isa Mines’ early years the company focussed on zinc-lead-silver production with only a brief period of copper production during World War II. Parallel production of zinc-lead-silver and copper did not begin until 1953.

The years from 1969 to 1974 saw more expansion at Mount Isa Mines. Development of copper orebodies and improvements at the company’s Townsville refinery boosted copper production dramatically. The next surge of development came in the late 1990’s when close to AUD$1 billion was invested in various projects, including two new mines and an expansion of the Copper Smelter and Townsville refinery. Xstrata acquired Mount Isa Mines in June 2003 through its MIM Holdings Limited acquisition.