FIRST SHIPMENT OF CENTURY ZINC CONCENTRATE LEAVES KARUMBA


The first shipment of zinc concentrate from Pasminco Century Mine departed the Gulf of Carpentaria last night bound for the Netherlands.

The `MV Pretty Flourish` had taken on board 10,000 tonnes of zinc concentrate which had been transferred from the Pasminco transfer vessel, `Wunma`. The transfer was completed some 13 nautical miles offshore from Pasminco`s Karumba Port Facility. The concentrate will be treated at Pasminco`s Budel smelter in the Netherlands.

Regular monthly shipments of zinc concentrate are expected to begin before the end of January 2000.

Executive General Manager - Mining Ian Williams said that the first shipment represented a successful completion of all key steps in the commissioning of the Pasminco Century Mine.

“The mine, mill and pipeline are all operating according to our early targets. The Karumba Port Facility has been successfully stockpiling concentrate and now we have completed the first transfer from our vessel for transport to Budel,” he said.

The mine is expected to be at 50% capacity by June and reach the full annual production rate of 500,000 tonnes of zinc contained in concentrate by the end of 2001. The final capital cost will be below the $810 million already indicated.



For further information contact:

Peter Griffin
Group Manager - Public Affairs
(03) 9288 0463 or 0419 314 265

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