New owners for Mt Lyell Mine

The Tasmanian Liberal Government welcomes the positive announcement that Sibanye Stillwater will exercise its option to acquire 100 per cent of Copper Mines of Tasmania Pty Ltd. 

Mining and minerals processing is a key pillar of the Tasmanian economy which supports more than 5000 jobs in regional communities and is our biggest export product by value. 

Mt Lyell Mine is an iconic part of our mining story since 1894 with the mine producing 1.4 million tonnes of copper, 50 tonnes of gold and 1500 tonnes of silver before it went into care and maintenance in 2014. 

Sibanye-Stillwater has indicated it will make a decision about the future of the mine once the current feasibility study is completed. 

Premier Jeremy Rockliff welcomed the announcement, saying that the potential reopening of the Mt Lyell Mine would create jobs and boost economic activity across the West Coast region. 

“Copper has been identified as one of the essential metals needed in the world’s clean energy transition, of which Tasmania is a world leader by being 100 per cent self-sufficient in renewable electricity.” 

Minister for Resources, Felix Ellis, said the Tasmanian Liberal Government has provided support over a long period of time to help assist with the re-opening of the mine while the owners invested in care and maintenance. 

“Our support has included a $9.5 million package to undertake works supporting the recommencement of mining operations as well as a $25 million assistance package to be made available once mining operations recommence.  

“This package remains on the table for a new owner, subject to appropriate due diligence,” Minister Ellis. 

The Tasmanian Liberal Government is delivering on its long-term plan to grow our economy and create more jobs, and should a re-start of Mt Lyell occur, it would bring hundreds of new jobs to the West Coast and surrounding areas.