Hunan gives Browns bearings

摘要

WITH PLANT COMMISSIONING well advanced at its Browns base metals oxide "project in the Northern Territory, Compass Resources NL hopes to also push ahead with the development of a large sulphide resource at the same project. A deal with Chinese company Hunan Nonferrous Metals Corporation Ltd (HNMC) last year led to the formation of three joint ventures with Compass - the NT oxide project, the NT sulphide development and mining project as well as a regional exploration JV. Under the terms of these JVs, HNMC will take 50 percent of mineral production and provide 72 million dollars in oxide development capital and 100 percent of the cost of the sulphide project definitive feasibility and environmental studies.