The investment will be more than $200 million over a three-and-half-year period, with construction scheduled to commence this month and full production expected in mid-2022.

The project will produce approximately 40 megatonnes of ore over a decade.

Executive Chairman and CEO of CMOC Group Steele Li said everyone is really excited to see the project come to fruition and to watch Northparkes continue to develop and grow.

“Northparkes plays a pivotal role in our strong and long-term presence in Australia as an internationally renowned mining company,” he said.

The project will deliver 11 kilometres of underground development, an underground primary crusher, conveying systems and associated infrastructure.

At the peak of construction, the project will employ up to 180 people, which will be a mixture of employees and contractors.

This project is covered by the current project approvals, licences and permits.

MAP: Where is Northparkes mine …

An upgrade to the ventilation system is currently being developed which will provide the new mine with sufficient air flow to support development and production activities.

Northparkes Acting Managing Director Hubert Lehman said this is a major investment in the future of the business and a very exciting time for Northparkes.

“We look forward to continuing to contribute to the local community in which we live and work for years to come,” he said.

Northparkes was the first mine in Australia to use the highly efficient block cave mining method, becoming a more widely used mining method throughout the world.

In 2015, Northparkes became the world’s most automated underground mine, with 100 per cent of production from automated loaders.

Northparkes has approved development consent to mine until 2032.

As of December 31, 2017, Northparkes has reserves of 125 million tonnes of ore and in addition resources of 471 million tonnes.

“We know the exploration potential of Northparkes and we believe we will discover more copper and gold deposits to take us even further into the future,” Mr Lehman said.