News

Peninsular Gold cheers Raub deal

12 February 2007 13:31:00

Peninsular Gold clawed back some of its recent losses today as its Raub Australian Gold Mining unit signed a deal for its proposed Carbon-In-Leach gold plant at Raub.

The Engineering, Procurement and Construction Management agreement was signed with Time Mining and Processing of South Africa, which is experienced in the treatment of tailings that will form the initial feedstock for the plant.

All necessary environmental and other approvals for construction are in place and contracts to start civil works are expected to be awarded in the next few weeks ahead of construction.

Once started, construction and commissioning of the plant is expected to be completed in around 12 months.

"'We are now one step closer to our goal of producing gold at Raub," Dato' Sri Andrew Kam, Peninsular's chairman and chief executive.

"Time's experience and expertise in plant design, construction and tailings processing makes them an excellent choice for managing the construction of the plant, which has been designed to the highest environmental and safety standards."

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