Project phase going well: Firm

ST Barbara’s Simberi operation in New Ireland is advancing well with its pre-investment phase of its sulphdie project, according to the company in its recent quarterly report.
“The pre-investment phase is advancing well, with initial new fleet purchases completed and the front-end, engineering and design (Feed) study package awarded and on track for delivery in third quarter of next financial year,” the company said.
“The final investment decision remains third quarter of next financial year as well.
“Concentrate sale and purchase agreements for the majority of life of mine gold concentrate have been finalised with a number of global trading companies, subject to a satisfying standard conditions precedent of a positive investment decision by the board and the project achieving commercial production.”
The company said the social and environmental impact statement was under review by the Conservation and Environmental Protection Authority.
“The two addendums relating to further trials and testing of waste rock management and the deep sea tailings placement (DSTP) footprint were submitted during the quarter.”