Herald reports update for Dairi zinc/lead project
Friday, December 15 2006 - 02:37 AM WIB
Australian mining firm Herald Resources Limited said Friday that it has decided to mandate Societe Generate CIB Australia Branch (SG CIB) to provide finance facilities for the Dairi zinc-lead project in North Sumatra.
On November, the company received from SG CIB a credit approved offer of facilities totalling US$70 million, the company said in statement.
The company, together with its 20 percent partner PT Aneka Tambang Tbk, is planning to develop Dairi zinc/lead project to process 1 million tons of ore per annum and to produce between 220,000 and 100,000 tons of zinc and lead concentrates annually.
Commissioning of the process plant remains on schedule in the fourth quarter of 2007.
The project is estimated to cost US$118 million. (denny)