Plant near completion

Press, Volume CXIV, Issue 33601, 1 August 1974, Page 15

Plant near completion

(AZ Press Assn.— Copyright) SYDNEY. The troubled s23om Greenvale Lateritic Nickel Project in Northern Queensland is expected to come on : stream next month — more than eight years after Metals Exploration, N.L. started exploratory drilling at the remote site, 177 km west of (Townsville. Ore will probably leave Greenvale next month for The treatment plant at Townsville, and the directors said that installation of all major equipment at the plant was close to completion. The ore receiving, drying, grinding and roasting ; areas are W’ell advanced. The recovery plant and most of the power plant have been commissioned, and work is being concentrated on the nickel sulphide 'and nickel oxide buildings, to “ensure timely completion.” The hydrogen and ammonia plants are almost completed: and bulk supplies of sulphur and aqua ammonia for their start-up have been delivered. More than sl2om has so far been spent, contributed equally by the joint partners, Metals Exploration, and Freeport Queensland Nickel Incorporated. Reserves are estimated at s39m tonnes, averaging 1.5 per cent nickel and 0.12 per cent cobalt. Plant throughput is planned at 2.1 m tonnes a year to produce more than 22,700 tonnes of nickel, and ' 1136 tonnes of cobalt. Unit trusts payments The First Dominion Unit Trust will pay 100 c for each 100 units for the six months, to May 31. Of this, 5c a 100 units is tax free. This compares with 1.50 c per 100 units for the previous six! months to November 30, and! I.loc for the six months to May 31. The trust remained stable with a total of 290,000 units at balance date, the directors said.