Herald releases preliminary costs estimate to develop N. Sumatra project
Thursday, December 16 2004 - 06:37 AM WIB
Australian miner Herald Resources Limited said on Thursday that it had commenced preliminary financial modeling for its Dairi zinc-lead project in North Sumatra.
The company said based on the financial modeling, total construction costs to develop the mine, including mining pre-production are in the order of US$ 135 million, with possibility of reduction in certain areas.
The company also said that any purchase of second hand plant was expected to reduce overall capital cost further.
The company is working to develop the BFS into the development of a 1Mt/year operation at the high grade Anjing Hitam deposit in Dairi project, with production expected to commence within the next few years. (alex)