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.