PASMINCO CENTURY MINE OFFICIALLY OPENED

Pasminco Century Mine was officially opened today by Premier of Queensland, the Honourable Peter Beattie, 10 years to the day after exploration drilling revealed a high quality ore deposit and just two and a half years since the project was opened by Pasminco.

Local community representatives, mining industry representatives, Federal, State and Local Government and people who played an instrumental part in the development phase of the mine attended the official ceremony at the mine site, 250 km north north west of Mt Isa.

Chairman of Pasminco Mr Mark Rayner said the Century mine was the largest resource investment in Queensland in the last 10 years and had established a new benchmark for project development anywhere in the world.

He paid tribute to the development team which completed the project $100 million under budget and ahead of schedule. During the construction phase the project generated more than 4000 jobs including 400 for the local, predominantly indigenous communities. The are currently 130 local people employed in permanent positions or traineeships.

Mr Rayner added that operations were proceeding very well and by mid April 100,000 tonnes of high grade concentrate will have been shipped to Pasminco`s Budel Zink Smelter in the Netherlands. Shipments to other customers will commence in May.

A highlight of the opening ceremony was a concert with over 40 school children from the Gulf region performing a song they composed especially for the opening of the Pasminco Century Mine.

For further information contact:

Peter Griffin
Group Manager Public Affairs
61 3 9288 0463 or 0419 314 265

Trevor Shard
Group Manager Investor Relations
61 3 9288 9186 or 0419 584 515

Kent Quigley
Manager Public Affairs - Pasminco Century Mine
61 7 93258 1302 or 0412 710 640

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