Zinc Mine To Go Ahead

Sun Herald

Saturday April 15, 1995

GILLIAN BULLOCK

THE Century Zinc project at Cloncurry in Queensland is expected to be given the green light at CRA's annual meeting on Friday.

Century Zinc will be one of the biggest zinc mines in the world producing 450,000 tonnes a year. This is almost double MIM's zinc output of 250,000 tonnes a year.

Shareholders will also be keen to hear what is happening on the coal front with the cessation of deliveries from Kembla Coke and Coal (KCC) for four weeks.

Analysts believe CRA should close KCC, which lost $40 million, or make a trade sale or arrange a management buyout.

This might well be on the cards given the closure of Southern Copper last December.

CRA chief executive Leon Davis has rid the company of several under-performing assets since last July.

* Fertiliser group Incitec Ltd is expected to report on Wednesday a 30pc drop in earnings in the six months to March 31 because of the drought and greater competition.

Analysts are looking for a fall in interim profit from $16.97 million to $12-12.5 million.

© 1995 Sun Herald

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