SDV 3.14% 74.0¢ scidev ltd

nyrstar negotiations

  1. 14 Posts.
    Intec revealed that they were in negotiations with Nyrstar regarding the IHRP/IMRP back in April;

    http://www.intec.com.au/docs/asx/08/2008%20April%2029%20-%20Presentation%20to%20Mining%20Tasmania%20Conference.pdf

    On page 20, the presentation submitted by Intec lists "Nyrstar (Risdon & Belgium) negotiations" as an important relationship for the then Hellyer Residues Project.

    Subsequently, Nyrstar announced plans to either move some operations from Port Pirie to Risdon, "modernise its smelting technology and increase multi-metals recycling" at Port Pirie, or both. This press release came from Nyrstar on the 19th of August;

    http://www.nyrstar.com/nyrstar/en/media/pressreleases/?sid=/PR/200808/1244445.xml

    At that time Nyrstar were expecting feasibility studies on the move and on upgrading Port Pirie to take 3 months and 6 months respectively, with the latter being carried out by WorleyParsons.

    Here's some media coverage with more comments from Nyrstar;

    http://news.smh.com.au/business/nyrstar-review-future-of-port-pirie-ops-20080819-3xxs.html
    http://www.news.com.au/adelaidenow/story/0,,24205134-2682,00.html
    http://portpirie.yourguide.com.au/news/local/news/general/open-for-business/1250532.aspx

    Port Pirie currently produces Lead and lead alloys, SHG zinc and zinc alloys, copper, gold and silver from 55% concentrates and 45% recycled materials and residues.

    I believe that the legally binding agreement will relate to Intec participating in one or both of the feasibility studies with a view to establishing a joint venture between Nyrstar and Intec for the IMRP.

    cheers and bottoms up,
    Bruce
 
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