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Cannington Mine

View on map:21.856400°S 140.907000°E

Description

The Cannington Silver and Lead Mine is an Australian underground mine located in north-west Queensland, in the Shire of McKinlay, about 200 kilometres (124 mi) southeast of Mount Isa. The deposit was discovered by Broken Hill Proprietary Company (BHP) in 1990. Although sitework and underground mining began in 1997, full production was not achieved until early 1999, with 1.5 million tons of ore processed in 1999.[2] Production since has reached 3 million tons of ore per year.[2] As of 2010 it was the largest and lowest cost silver and lead mine in the world.[3][4] The expected life of the Cannington mine is 25 years.[4] On August 19 2014, the mine's owner BHP Billiton announced it was splitting the company in two. A newly-formed entity called NewCo was to house BHP Billiton's non-core businesses including the Cannington Mine. To be capitalized at $15 billion, NewCo was to be listed on the Australian Securities Exchange, with a secondary listing in Johannesburg.

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