September 08, 2008

Terramin hedges zinc and lead output from new Australian mine

Metals Insider reported that Australian Terramin has completed a program of hedging linked to the financing facility for its new Angas zinc lead mine in South Australia.

The report added that a series of forward contracts covering 50% of production over the first 15 months of operation through October 2009 have generated an average realized price of AUD 2,736 per tonne (USD 2,392.50) for 13,200 tonnes of payable zinc and AUD 3,296 per tonne (USD 2,883.60) for 5,312 tonnes of payable lead.

The mine remains within budget and on schedule for commissioning in June 2008.