Australia-based mining company New World Resources secured extraction rights for Antler copper mine in the US state of Arizona, according to the company’s statement.
Operations are scheduled to commence by the end of the first quarter of 2020, followed by mine design work.
Arizona accounts for almost 70pc of the US’ copper output. Largest producers were Morenci mine with an annual output of 520,000mt.
Antler copper deposits were mined between 1916 and 1970 and produced 70,000mt of ore, which includes 2.9pc Cu, 6.9pc Zn, 1.1pc Pb, 31 g/t Ag and 0.3 g/t Au grades.