Arab Today, arab today xstrata\s cost estimate for copper mine
Last Updated : GMT 13:42:01
Arab Today, arab today
Arab Today, arab today

Xstrata\'s cost estimate for copper mine

Arab Today, arab today

Arab Today, arab today Xstrata\'s cost estimate for copper mine

Zurich - AFP

Swiss mining giant Xstrata said Monday it would cost $300 million (227 million euros) more than previously expected to develop the Frieda River copper and gold mine in Papua New Guinea. The Swiss company had, according to a statement, handed over a feasibility study to its local partner on the project, Highlands Pacific showing that it now expects the total investments to tick in at $5.6 billion, compared with a previous estimate two years ago of $5.3 billion. Xstrata, which owns nearly 82 percent of the project, also said it had delivered \"Study Programme Report\" examining the possibility of providing electricity to the mine through a gas-fired transmission line rather than the previously proposed hydro-electric dam. \"It also identified the potential for additional capital savings in relation to waste management,\" Paul Gow, Xstrata\'s manager of the project, said in the statement, pointing out that the potential savings could reduce investments to $5.0 billion. In a separate statement, Highlands Pacific said the estimated investment increase was in part due to the depreciation of the US dollar in recent years -- something that has significantly raised costs for a number of other new mining projects around the world as well. Last June, Xstrata hinted it might consider selling its participation in the project, as it reevaluated its global activities. The Frieda River mine is expected to produce 204,000 tonnes of copper and 305,000 ounces of gold over a 20-year mine life, according to Xstrata, which began managing the project in 2007. Highlands Pacific said that it and Xstrata were set to hold discussions with the Papua New Guinea government next year to discuss equity ownership, permits and when project development can begin.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today xstrata\s cost estimate for copper mine Arab Today, arab today xstrata\s cost estimate for copper mine

 



Arab Today, arab today
Arab Today, arab today Kanye West puts hijab-wearing model

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 17:36 2017 Monday ,13 February

Designer prepares to present 2017 collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday