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Copper Mines of Tasmania (CMT) has confirmed that Vedanta Resources is planning to sell its stake in the suspended Mt Lyell operation, in Queenstown, according to media reports. 

Vedanta Resources has issued a statement stating that global investment bank Macquarie Capital has been appointed to manage the sale process and secure a new owner for Mt Lyell.

The company’s plans to resume operations from February were hampered amid COVID-19 pandemic affecting its ability to continue operations at the mine. 

Queenstown state’s Minerals and Energy Council believes the sale could be a positive step, mainly since the state government had invested $9.5mn for improving underground infrastructure. 

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