A new owner for Queenstown's mothballed Mount Lyell mine is likely to be announced as soon as Tuesday.
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It is understood ASX-listed New Century Resources is poised to buy the veteran copper mine from owner Vedanta Resources Limited, which operated it through its Copper Mines of Tasmania subsidiary.
A resumption of mining would be a major jobs and economic boost for Tasmania's West Coast.
The mine has been on care and maintenance since three workers died in two separate incidents in late 2013 and early 2014, and various works have been performed since towards a potential restart.
Melbourne-headquartered New Century has been in a trading halt for some weeks, pending an announcement about an asset acquisition, equity raising and new environmental bonding arrangements.
Environmental arrangements would be crucial to any Mount Lyell deal, given the widespread environmental damage caused during the early part of the mine's history.
A New Century spokesman on Monday morning said a series of announcements was likely on Tuesday.
They did not comment directly about Mount Lyell.
Legally, the ASX would have to be told of a major acquisition before it was announced publicly.
New Century is believed to have been among several parties which were in extended talks with Vedanta about a potential Mount Lyell acquisition.
Vedanta's intention to sell the mine because known in late 2020.
It targeted a sale by June, but talks continued well beyond them.
In late September, Copper Mines of Tasmania said it was happy with the progress of negotiations with interested parties, although the process was taking longer than expected.
The state government contributed $9.5 million towards Vedanta's preparations for a restart, and also offered a $25 million package to be made available once mining resumed.
Copper prices have soared since mid-2020, increasing the mine's attractiveness.
Mining at Mount Lyell dates back to the late 19th century.