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
Aug 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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