Business

Carbine secures $8m-a-year deal with fertiliser specialist

TRASH TO TREASURE: The old gold mine at Mt Morgan is being rehabilitated, with business deals along the way.
TRASH TO TREASURE: The old gold mine at Mt Morgan is being rehabilitated, with business deals along the way. Contributed

IN A classic tale of turning trash into treasure, Carbine Resources have taken the old gold mine pit in Mount Morgan and are transforming it into a profitable, and innovative, business.

Not only are they pulling gold from the tailings of the old mine, they have also struck a deal to sell the copper to Brisbane-based Swancorp, which specialises in delivering nutrient-rich fertiliser products to the agricultural, horticulture, stock feed and turf industries.

Carbine Resources' executive director Patrick Walta said the $8million-a-year deal was part of the redevelopment of the Mount Morgan gold and copper project.

"The project is essentially focused on rehabilitating the historical mine site," Mr Walta said.

"In that rehabilitation we pick up the tailing and take out the nasty contaminants and the gold - that pays for the work to be done.

"Rehabilitation is achieved by recovery of gold and also removal of contaminants such as copper and sulphur. These contaminants are concentrated and sold as valuable by-products to the overall gold recovery operation. "As part of that process we have been looking to effectively establish offtake contracts for the by-products we will be producing."

Mr Walta said after 18 months of groundwork with Swancorp, they had established a binding copper sulphate offtake contract.

He said turning the mine pit, which has a history of issues associated with it, into a positive for the local and wider communities was a definite positive.

"It is great; we are really taking a lot of the problems associated with the site and turning them into part of the solution," he said.

"Copper in the tailings is leaching into ground water, causing a lot of issues in the Dee River and beyond to the Great Barrier Reef, but we are turning it into a product... used to value-add in Queensland."

Swancorp general manager Lawrence Parrott said the company would be utilising the local market instead of previous international agreements.

"Swancorp has historically imported its copper sulphate requirements from Asia," Mr Parrott said.

"Swancorp is very pleased to have the offtake agreement in place as it now gives them access to a very high quality, Australian-made copper sulphate."

Carbine Resources will supply the copper to Swancorp as a finished product, which the company will then use in products for the Australian market.

"This local copper sulphate will be taken to the Australian agriculture, horticulture, turf, stock feed, mining and chemical industries," Mr Parrott said.

Topics:  mount morgan rockhampton specialist



Our six art gallery picks for a creative day out

YOU may not associate Brisbane with a burgeoning art scene, but you’d be mistaken.

Six hideaway bars to escape winter chill

The Gresham's charm will win you over before your first sip.

THESE are the perfect places to hang this winter.

Brisbane's arts and culture events centre stage

You loved the film, now you're about to love the musical. Don't miss The Bodyguard The Musical in Brisbane this July.

THE arts and culture events you don't want to miss.

Homewares stores to fulfil your Instagram dreams

No Caption

You too can become an Insta-star with these fab stores.

Date nights under $50

Nothing is more romantic than a picnic with a cracking view.

NOT every date has to cost you a bomb.

Top 10 Brisbane experiences to cross off your bucket list

Do yourself a favour and get amongst the food truck scene. Eat Street is a great place to start.

A GOOD bucket list doesn’t have to span continents or cost millions.

Six mega sporting events you need to be at this year

Don't miss all the action trackside this season.

IF THERE is one thing Brisbane does damn well, it’s play host.

University career put on hold for the greater good

Jack Nicoll is heading to Tanzania to help with charity work.

Rocky to Tanzania for charity mission

Strelow stays positive on Adani talks

Mines Minister Anthony Lynham, Premier Annastacia Palaszczuk and Adani's Jeyakumar Janakaraj. Shadow Mines MInister, Andrew Cripps says the government's support is nothing more than a publicity stunt.

Discussions continue as Qld Govt agree to facilitate funding

Breaking: Owner's anger as prized Rocky racehorses left mutilated

The damage from a hit and run incident involving trainer Laurie Clem and his horses.

Rocky racehorses worth big dollars left for dead on roadside

Local Partners

WATCH: Judah battles his emotions as he makes Top 12

Judah Kelly has made it through to the top 12 of Australia's The Voice competition.

Karl Stefanovic's rant about Schapelle Corby 'a bit rich'

Karl Stefanovic is sick of hearing about Schapelle Corby.

Maybe he just wanted to make himself the story.

Could Schapelle be heading for Gladstone?

Australian Schapelle Corby is escorted by Bali Police at the parole office in Denpasar, Bali, Indonesia, 27 May 2017.

Schapelle's mother teases her free daughter could be Gladstone bound

Six things you never knew about Men in Black

Mushu the pug

It's been 20 years since Men in Black first hit cinemas

10 strange stories behind famous sex scenes

Khaleesi and Khal Drogo in a steamy moment.

Every set has their own way of filming sex scenes

HBO spills new details on Game of Thrones’ final season

Game of Thrones’ eighth and final season will only have six episodes.

New details about what to expect from the eighth, final instalment.

Karl’s rant on Corby: ‘Made to look like idiots’

Karl Stefanovic is sick of hearing about Schapelle Corby.

Today co-host launched a tirade against Schapelle Corby media circus

New $46.7m counter-terrorism facility to be built in Wacol

Premier Annastacia Palaszczuk, pictured with Police Commisioner Ian Stewart, has announced plans to build a new counter-terrorism facility in Wacol.

The facility will be built over three years.

Home to a sex worker: Sordid history of iconic Coast shed

Milojevic Djordjevic's daughter Linda at the derelict shed on Yandina-Coolum Road.

The shed was once a liveable 'barrack'.

This is real estate's billion-dollar man

Bob Wolff at AREC with John McGrath of McGrath Real Estate.

They don’t call him the “Billion dollar man” for nothing

Man's amazing comeback from monster crisis

Pat O'Driscoll agents Penny Keating and Doug Webber sold 56 Agnes St, The Range at auction over the weekend.

NOT long ago, he sold his possessions to pay staff. Now he's back.

Deluge brings massive price rise for property near Rocky

BIG BUY: The Howard family handed over Yaamba's historic Balmoral property to the Harvey family on Thursday.

DOWNPOUR'S perfect timing entices buyer to pay huge dollars.

Ready to SELL your property?

Post Your Ad Here!