A high grade mineral deposit in New South Wales could be mined again, 20 years after it was shut down.

The management at mining company Perilya wants the company’s board to approve the reopening of the Broken Hill North mine, saying new technology would lead to much greater yields.

Broken Hill North mine was closed by its then owner, Pasminco, in 1993.

The North Mine Deeps resource reportedly contains 3.7 million tonnes of zinc at 11.3 per cent, 13.5 per cent lead and 219 g/t silver, placing it among the highest grade deposits in the world.

Perilya managing director Paul Arndt says the yield at its Southern Operations has decreased, leading to new plans for sidelined supplies.

“The stronger metal prices help us to look towards being able to get that project up and running,” Arndt told reporters.

“We're really going through the final stages of a recommendation to the board now.”

It is likely that modern mining equipment could be used to extract lower grades of ore at higher tonnages, making the operation viable once more.

Former registered manager at the North Mine, Tom Hynes, backed the re-opening.

“It'd be a great step forward for the community and, from my viewpoint, it'd be a godsend to see that mine re-open and that ore extracted,” Hynes said.

“It's just a pity to leave it sitting in the ground.”