DEVELOPMENT OF THE FORTALEZA NICKEL DEPOSIT.Brasilia, Brazil--(BUSINESS WIRE)--May 18, 1995--The RTZ RTZ Rio Tinto Zinc RTZ Return To Zero RTZ Return to Zork (game) RTZ Retail Trade Zone Corporation PLC's (NYSE NYSE See: New York Stock Exchange : RTZ) wholly owned Brazilian subsidiary, RTZ Mineracao Ltda. (RTZM), is to proceed with the development of the Fortaleza high grade nickel sulphide deposit in the Minas Gerais state in Brazil. The development will be carried out by RTZM's associate company Mineracao Serra de Fortaleza Ltda. It will consist of a mine, concentrator plant, smelter and refinery. Construction is expected to take 30 months with commissioning to start early in 1998. The capital cost for the open pit and surface facilities is estimated at $183 million with an additional $50 million for the subsequent commission of the underground mine. The mine has an estimated life of 20 years with the first 5 open pit and the remainder underground. Ore reserves total 10.3 million tonnes grading 1.89 percent nickel, 0.36 percent copper, 0.2 percent cobalt and 1.7g/tonne of platinum group metals and gold. Annual throughput is projected at approximately 550,000 tonnes of ore producing some 10,000 tonnes of electrolytic e·lec·tro·lyt·ic adj. 1. Of or relating to electrolysis. 2. Produced by electrolysis. 3. Of or relating to electrolytes. e·lec nickel and several by-products such as sulphuric acid, cobalt, copper sulphate and platinum group metals and gold. Most of the production will be sold in local Brazilian markets. The RTZ Corporation PLC is one of Britain's largest companies, with a market capitalization of approximately US$15 billion. It is one of the world's leading mining companies, and more than half of its assets are located in North America. RTZ's shares are traded on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and leading European stock exchanges This is a list of European stock exchanges. There are two major pan-European stock exchanges:
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. in the form of sponsored American Depositary Receipts (ADRs). One ADR ADR - Astra Digital Radio represents four ordinary shares. CONTACT: George Naylor Head of Public & Investor Relations RTZ Corporation PLC 011-44171-753-2401 or John Hughes RTZ Corporation PLC 011-44171-753-2331 or Cameron King Gavin Anderson & Company 212-373-0218 |
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