Terramin Australia has completed commissioning its Angas zinc mine in South Australia. The mine is on target to produce 45,700 tonnes of zinc and 16,500 tonnes of lead concentrate in 2009.
The company said in a statement that concentrate sales in the first six months of full output are forecast to generate enough cash-flow to at least meet the mine's operating, capital and debt service obligations at current lead and zinc prices.
Terramin expects cash costs to be US40c a pound for the current quarter and throughout 2009.
In the second half of 2008 zinc concentrate sales were at US81c per pound on over 10,000 tonnes of concentrate, with sales terms fixed two months prior to shipment.
“We do not envisage any on market capital raising will be required,” Terramin executive chairman Kevin Moriarty said.
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