Sydney, Oct 25, 2006 AEST (ABN Newswire) - Olympia Resources Limited (ASX: OLY) is pleased to announce that following the completion of a very positive feasibility study, the Olympia Board has approved the construction of a 25,000 tpa zircon processing plant at Banjarmasin in Kalimantan. This processing plant will be operated by PT Olympia Indonesia which is 90% owned by Olympia Resources Ltd and 10% by Olympia's Indonesian partner, Ali Susanto.
- Feasibility Study confirms net cashflow (before interest and tax) of $54.8M over 10 years
- Capital Cost - $3.1 million
- Capital Payback Period (excluding interest and tax) - 10 months
- Plant in production by mid 2007
For a full copy of the announcement please visit:
www.olympiaresources.com
About MZI Resources Ltd
MZI Resources Ltd (ASX:MZI) is a mineral sands company focused on the high value minerals of zircon, rutile and leucoxene based in Perth, Western Australia. Its flagship operating asset is the Keysbrook Mineral Sands Project, located 70km south of Perth. At the Keysbrook mine, mineral sands are mined and processed to produce heavy mineral concentrate (HMC) which is processed into final products under a toll treating arrangement with Doral Mineral Sands Pty Ltd at the Picton Mineral Separation Plant (MSP) near Bunbury.
The Keysbrook mine hosts a world-class zircon / leucoxene ore body with total Ore Reserves equivalent to over 15 years of production at design output rates, and total Mineral Resources equivalent to over 30 years of production. Production commenced in late 2015, making the Keysbrook Project Australia’s first – and the world’s largest - primary producer of high value leucoxene.
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