Media Release
4 September 2003

US Mines Sale

Pasminco announced today that it had agreed to sell its Gordonsville and Clinch Valley mines and facilities in Tennessee, US to Tennessee Valley Resources (TVR). The sale is expected to complete within two weeks.

At completion TVR will take ownership of the Gordonsville mine, which was placed on care and maintenance in May 2003. Ownership of the Clinch Valley mine will pass to TVR when the mine is closed, which on current plans will be in June 2004. Under the terms of sale, the rehabilitation costs at both sites will be met by TVR.

For further information contact:

Trevor Shard
General Manager – Investor and Community Relations
+61 (3) 9288 9186 or 0419 584 515

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