Pacific Lime and Cement Retracts Reference to Mine Life of Over 100 Years in Relation to PNG Project's Final Investment Decision

MT Newswires Live
08/25

Pacific Lime and Cement (ASX: PLA) said it retracted reference to a mine life of over 100 years and "another 100 years of resource yet to be allocated," in relation to its earlier announcement of a final investment decision for the development of the Central Lime project in Papua New Guinea, according to a Monday Australian bourse filing.

Production began at the project in parallel with construction, with drilling and blasting undertaken, equipment mobilized, as well as mining and stockpiling completed to support a customer's trial shipment of raw limestone for downstream processing.

It added that the production target of 1.3 million tonnes-per-annum underpinned solely by measured mineral resources in its updated definitive feasibility study, as well as the underlying material assumptions underpinning its forecast financial information, remain unchanged.

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