Austral Resources acquires Lady Loretta zinc mine to expand Queensland operations
Austral Resources has struck a deal to buy the Lady Loretta zinc mine in Queensland from Glencore. The acquisition will expand the company’s operations near its existing Lady Annie copper project. The move is set to secure both short-term and long-term ore supplies for processing.
The Lady Loretta mine, located 150 kilometres north-west of Mount Isa and 16 kilometres from the Lady Annie site, has been operational since 2012. At its peak, it produced 1.6 million tonnes of ore annually, with zinc-lead material processed at Mount Isa.
Austral will take full ownership of Noranda Pacific, which includes the Lady Loretta mine, its processing facilities, and a mining camp. The company will also assume responsibility for ongoing operations and rehabilitation work. As part of the agreement, Glencore will receive a 2.5 percent royalty on any copper oxides and sulphides extracted from the site. The deal remains subject to several conditions before completion. Once finalised, the purchase will strengthen Austral’s position in the region, providing additional ore feed ahead of planned mining at the Lady Annie cutback, scheduled to begin in early 2026.
The acquisition of Lady Loretta will integrate the mine into Austral’s existing operations, boosting ore supply and extending production capacity. The company now prepares to meet the conditions required to complete the transaction.
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