Sibanye-Stillwater Secures Board Approval to Reactivate Tasmania's Historic Mt Lyell Mine

Sibanye-Stillwater received board approval to bring the Mt Lyell copper mine back into production, targeting early 2029 after a preparatory phase beginning next year. The mine, a former economic cornerstone of Queenstown, was shut down in 2014 following three worker deaths and a rockfall. The restart is projected to generate more than 300 jobs and stimulate local contractors, hospitality and retail sectors, according to Tasmanian Labor.

The project will require roughly $490 million in investment and will extract 26,000 tonnes of copper, 16,000 troy ounces of gold and 116,000 troy ounces of silver annually for an estimated 23-year lifespan. Sibanye-Stillwater pledges to run the operation on hydropower, increase automation, and fulfill rehabilitation and closure duties, including water-treatment and progressive land restoration. Environmental concerns persist, as nearby rivers remain heavily impacted by historic mining activities.