|
TIDMXTA TIDMMIO
RNS Number : 3930R
Xstrata PLC
02 November 2011
NEWS RELEASE
XSTRATA ZINC COMPLETES ACQUISITION OF
PALLAS GREEN EXPLORATION PROJECT
Toronto, 2 November 2011
Xstrata Zinc confirms it has completed its acquisition of Minco plc's interest in the Pallas Green exploration project, for US$19.4 million. Xstrata Zinc (76.4%) and Minco Plc (23.6%) had formerly entered into a joint venture agreement with respect to the Pallas Green project which is now terminated.
On 13 July 2011 Xstrata Zinc announced its agreement to acquire 100% control of the Pallas Green exploration project, subject to conditions, each of which has now been satisfied.
Pallas Green, a zinc-lead exploration project, is located in Limerick County, Ireland. The Pallas Green Licences consist of ten contiguous prospecting licences totalling 294 square kilometres located on the southern boundary of the Irish Midland Orefield between Limerick and Tipperary. Pallas Green has been the focus of an intensive exploration drilling programme as part of pre-feasibility studies towards the potential development of a major zinc-lead mine.
Ends
Neither the content of the company's website nor the content of any other website accessible from hyperlinks on the company's website is incorporated into, or forms part of, this announcement
Xstrata contacts
Louis-Philippe Gariepy Alison Flynn
Telephone +1 (514) 645-2311, Telephone: +44 20 7968 2838
ext. 2162 Mobile: +44 7769 314374
Email : lgariepy@xstratacopper.com Email: aflynn@xstrata.com
Ends
Neither the content of the company's website nor the content of any other website accessible from hyperlinks on the company's website incorporated into, or forms part of, this announcement
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQBLBDBRUGBGBD
| 
