Mine may extend life span

 THE Simberi mine in New Ireland may have its life span extended, according to a Simberi sulphide prefeasibility study.

The study was part of the mine’s review for the first quarter this year released yesterday.

Chief executive officer Bob Vassie said according to the Simberi study project, the mine’s life could be extended for another eight years.

He said the study for the sulphite project was completed, subjected to an independent review of the underlying estimates.

“The PFS recommends additional value engineering work to refine the feasibility of the project prior to the commencement of a definitive feasibility study to better inform an investment decision,” Vassie said.  

He said an independent review of the underlying resource estimates was nearing completion  

Vassie said the project would use existing infrastructure which included mills, airstrips, power station and the camp.

“The company is evaluating Simberi sulphide project and its PNG assets against its other potential investment opportunities,” he said.

He said a strategic review was expected to take about six months to complete.