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Thursday, January 05, 2006

Smorgon to supply Intec dust

Smorgon to supply Intec dust

SMORGON Steel has signed an agreement with Intec to supply electric arc furnace dust to its Hellyer metals project in northwest Tasmania, with a bankable feasibility study into the project expected to be complete this quarter.

Nippon's Intec pilot plant

Smorgon Steel will initially supply around 22,000 tonnes of EAF dust and pay Intec an upfront treatment fee of $2.42 million.

Intec said the initial supply of EAF dust contained around $16 million worth of zinc metal at today's prices, and claimed the company's testwork is indicating a recovery rate of over 95% of the contained zinc is achievable.

The two outfits have been working together over the past months to develop techniques for the successful introduction of EAF dust into Intec's process, with Smorgon delivering around 25 tonnes of dust in June for processing at its Burnie demonstration plant.

The Hellyer metal project is currently the focus of a $2.7 million bankable feasibility study which is expected to be completed this quarter.

Shares in Intec gained 0.9c (13.8%) during morning trade to 7.4c.


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