Plans to restart zinc production at Queensland's Century mine have taken a major step forward, after operator New Century struck a crucial domestic gas sales agreement with Santos.
The four-year gas supply agreement is believed to be worth about $100 million, and will ease some of the political pressure on Santos to deliver more gas to customers on Australia's east coast.
The nine-petajoule gas deal is a crucial plank in New Century's plan to restart zinc production at the site in 2018 via the reprocessing of mine tailings.
The previous owner, MMG, had in recent years highlighted gas availability and prices as being among key challenges to the creation of a successful tailings operation at the site.
Industry sources suggested the gas prices agreed under Thursday's deal were close to $10 per gigajoule once transportation was taken into account.
Plans to restart zinc production at Queensland's Century mine...
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