AUY Yamana Gold Inc.

RNS Number:0624J
AuIron Energy Ld
28 August 2001

AUIRON ENERGY LIMITED                                 August 28, 2001


* AUIRON ENERGY LIMITED ("AUIRON") TO ENLARGE HIGHLY SUCCESSFUL SASE
WHYALLA DEMONSTRATION PLANT.

* ENLARGED PLANT AIMS TO ACHIEVE COMMERCIAL SMELTER INTENSITY LEVEL.

Auiron has announced plans that will see a significant expansion in
the iron smelting capacity in the SASE demonstration pig iron plant
at Whyalla.

The plan includes anticipated expenditures in two phases of:

* $1 million to enhance the coal drying capacity
* $4 million to double the gas off take handling capacity.

The enlarged plant aims to provide a level of smelting intensity
equivalent to that proposed for each 500,000 tonne per annum
module of the 2.5 mtpa commercial plant. The smelter intensity is the
standardised pig iron tonnage production per hour per square metre of
smelter floor area. Oxygen at a considerably higher level is also
required and this is being arranged with the supplier.

The decision to enhance the demonstration plant means operations at
the plant will continue. This will lead to the introduction of
Auiron's Phillipson coal following the completion of the Phase One
expansion outlined above, anticipated to be prior to year end. The
current program of test work on east coast coal is planned to be
completed and the plant shutdown from 3 September for this purpose.

The major part of planned work for Phase Two expansion will be
undertaken in January/February 2002 immediately following the normal
Christmas shut down period.

The planned high intensity smelting feasibility study test work is
scheduled to start in February and should of be completed in the
first half of 2002. This will reduce the scale-up ratios and lower
the financing risks for the commercial plant.

Following the completion of the high intensity smelting test work,
and the feasibility study Auiron will be in a position to take a
decision on the commercial development.

Auiron Managing Director and Chief Executive Officer, Mr Neill
Arthur, said that the plant's performance over the past few months
had exceeded expectations and the planned upgrades would allow the
Company to fully test the furnace's smelting limits.

"While the plant has already achieved sustained high levels of output
and product quality acceptable to the market, we are confident that
further improvements to process conditions will yield even better
results."

"By enhancing the Demonstration Plant's coal drying and gas handling
capacity and increasing oxygen supply levels, we expect to double the
currently achieved stable smelting rate of three tonnes of iron ore
per hour."

N F Arthur
MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

Yamana Gold (LSE:AUY)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024

Yamana Gold (LSE:AUY)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024