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Magellan lead mine in Australia has been on care and maintenance since April 2007 after lead poisoning of birds in the Esperance area prompted the government to revoke the port's lead export license. At the beginning of February the Australian government approved the company to ship through its Fremantle port.
The company said its priority is to remove the 8,000 tons of lead concentrate at the Esperance port and then it will begin shipping the 21,000 tons of concentrate at the mine through Fremantle.
Shipments of the port's 8,000 tons should be concluded by the end of the second quarter, the company told Dow Jones Newswires.
The 100,000-metric-ton capacity Magellan mine will remain closed for the time being, the company said.
-By Devon Maylie, Dow Jones Newswires; +44 (0)20 7842 9483; devon.maylie@dowjones.com
(END) Dow Jones Newswires
03-24-09 1224ET
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