Century In Talks With Local Community

Pasminco announced today that a group of around 50 members of a local aboriginal community had occupied the canteen at Darimah Village, the site accommodation facility since Sunday night. Darimah Village is located 4 kilometres from the mine site.

Construction of the Century mine commenced in 1997 following negotiation of the Gulf Communities Agreement (GCA). The GCA was negotiated under the Right to Negotiate provisions of the Native Title Act (1993) between the Waanyi, Mingginda, Gkuthaarn and Kukatj people, Pasminco and the Queensland Government and was signed by all parties on 7 May 1997. The agreement provides benefits to those groups affected by the operation of the mine. Under the agreement Pasminco committed to spend a total of $60 million over the 20 year life of the mine.

A review of the Gulf Communities Agreement, by all parties to the agreement, has been conducted over the past year. The review is expected to conclude in coming weeks.

Meetings between community representatives and mine management took place yesterday and are continuing today to understand community concerns. Community representatives have raised concerns about the distribution of funds under the GCA. The agreement provides for the distribution of funds to native title groups who are parties to the agreement, provided that government determined eligibility criteria are met. A number of native title groups have yet to meet the established criteria.

Paul Fowler, Chief Operating Officer said, "The Gulf Communities Agreement provided Pasminco with the opportunity to develop the Century Mine for the benefit of all Australians. We recognise the rights of the traditional land-owners and are committed to working co-operatively with local communities to see the full benefits of the GCA delivered."

Production at Century Mine has not been affected by these events.

Century Mine is a large open cut zinc mine located 250 km north north-west of Mt Isa in North West Queensland.

For further information, please contact:
Trevor Shard
General Manager - Investor and Community Relations
++61 3 9288 9186 or 0419 584 515

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