20974 29Metals AR23 WEB V1 - Flipbook - Page 35
2023 key
results
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
Case study
Prioritising risk management
Risk management formed a critical foundation to the formulation and commencement of
the Capricorn Copper Recovery Plan6 following the Extreme Weather Event in March 20237.
Two particular examples included:
Reinstatement of clean‑water
diversion infrastructure
Prior to the Extreme Weather Event7, 29Metals had
established water diversion infrastructure so as to assist to
prevent surface run-o昀昀 from entering the Esperanza South
sub level cave underground mine (the ‘ESS’). This infrastructure
was overwhelmed and damaged by the Extreme Weather
Event7. Prior to reinstatement of this infrastructure,
29Metals closely evaluated the e昀케cacy and capacity of the
infrastructure to mi琀椀gate the risk of water in昀氀ow to ESS in
future events. Through that risk evalua琀椀on, the design for
the reinstated diversion infrastructure included a number
of enhancements, including increased pumping capacity
and all-weather access (to enable access for maintenance
during weather events).
Saturated cave
The ESS was inundated when surface water run-o昀昀 during
the Extreme Weather Event7 overwhelmed and damaged
established infrastructure (refer above). Phase 2 of the
Capricorn Copper Recovery Plan6 involved the progressive
dewatering and rehabilita琀椀on of the ESS to enable mining in
ESS to recommence.8
Detailed risk assessments were undertaken as part
of the planning of the Capricorn Copper Recovery
Plan9, as well as during the early part of the execu琀椀on
phase. These risk assessments included risks associated
with a “saturated cave” following a prolonged period of
inunda琀椀on and involved input from academic and industry
experts (included feedback from other mine operators
in Australia with experience reinsta琀椀ng opera琀椀ons a昀琀er
an inundated cave). These risks assessments resulted in
the development and implementa琀椀on of various controls
to ensure the work could be undertaken safely.
6. Informa琀椀on regarding the Capricorn Copper Recovery Plan was released to the ASX announcements pla琀昀orm on 23 May 2023, a copy of
which is available via the Group’s website at: h琀琀ps://www.29metals.com/investors/asx-announcements.
7. Refer to: “Impact of Extreme Rainfall on Capricorn Copper Opera琀椀ons” released to the ASX announcements pla琀昀orm on 9 March 2023;
“Capricorn Copper Opera琀椀ons Update” released to the ASX announcements pla琀昀orm on 15 March 2023; and “Strategic Update” released to
the ASX announcements pla琀昀orm on 23 May 2023.
8. Progressive dewatering of ESS suspended with suspension of mining and milling opera琀椀ons as announced on 26 March 2024. Refer to page 3.
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