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MEI Online: Plant Operation News: Middle East & Asia: April 15th 2003


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:: Ausmelt Signs New Lead Smelter Project In India

Ausmelt Ltd advise that the Company has signed a major contract with Hindustan Zinc Limited (HZL) which will construct a new 60,000 tonnes a year lead smelter at Chanderiya in Rajasthan, India. HZL is Indias largest producer of zinc, lead and silver and is part of the Sterlite Group, which owns multiple diversified assets in the non-ferrous metals industry, including copper mines in Australia. The new lead smelter will be designed to treat a mixture of concentrates from its own mines as well as residues from its existing smelter.

The project will commence immediately and produce revenues approaching $4 million for Ausmelt, however the benefit of the contract will accrue largely in future financial periods.

Mr Jeyakumar Janakaraj, HZLs General Manager Projects said Our entire team is delighted to have signed this contract for the new lead smelter with Ausmelt and we are sure that this project will provide significant benefits to both our companies including opening up opportunities for further collaborations in the future.

Ausmelts Managing Director, Paul Abbott, said We are very pleased to have cemented this new relationship with HZL. It is noteworthy that this is Ausmelts second major contract in India in the short space of two years. We are optimistic about capturing further non-ferrous projects in that country over the coming years as it consolidates itself as a low-cost producer of non-ferrous metals in an increasingly competitive global market.




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