Broken Hill Mine Sale Completed

Pasminco announced today completion of the sale of its Broken Hill mine in New South Wales to Perilya.

Commenting on the completion, Chief Executive Officer Greig Gailey said that the sale of the Broken Hill mine was a good outcome for all stakeholders and an important step in restructuring the asset base prior to re-floating the company later in the year.

The sale price of A$90 million will be paid in instalments. A$35 million has been paid today and A$55 million will be paid in the form of deferred volume and price linked payments.

Supply contracts have been agreed for on-going delivery of Broken Hill concentrates to the Hobart zinc smelter and Port Pirie lead smelter at commercial terms.

For further information contact:

Trevor Shard
Group Manager - Investor Relations
++61 (3) 9288 9186 or 0419 584 515

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