Terramin Australia (ASX:TZN) started early construction activities at the Tala Hamza zinc project in Algeria via associate Western Mediterranean Zinc (WMZ), according to a Monday filing with the Australian bourse.
The filing said that the installation of administration cabins started at the project after land acquisition in October and the signing of an engineering, procurement, and construction contract in November.
Terramin has management rights at Tala Hamza and a 49% stake in WMZ, with the remaining 51% ownership held by companies owned by the Algerian government, the filing added.
Company shares slid past 2% in recent Monday trade.
Price (AUD): $0.09, Change: $-0.002, Percent Change: -2.17%
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