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Market: ASX, FRA
Sector: General Mining
Epic: .GIP
News: Latest news
Web Site: Gippsland Limited
Other Articles: 06-01-201013-11-200930-10-2009

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Gippsland Limited

Gippsland Limited

Gippsland focuses on world-scale projects which have been over-looked by major resource groups. Projects which have undergone detailed exploration and which have the potential to be brought into production quickly are a prime target for the Company. Gippsland's success in this area is due in part to the Company's philosophy of entering into equitable joint venture arrangements with overseas nationals. The Company's prime assets are the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi tantalum-tin projects located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea.

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Friday, June 05, 2009

Gippsland changes Abu Dabbab water use plans for more economic operation

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Gippsland Ltd (ASX: GIP) has announced changes to the planned water supply for its 44.5 million tonnes  Abu Dabbab tantalum project in Egypt that will allow more economic operation of the process plant and the tailings storage facility.

The previous plan envisaged the use of raw seawater for the process plant and a HDPE (high-density polyethylene) lined tailings storage facility to prevent salt water from entering into underground water system. A re-evaluation of the costs involved determined that it will now be more economic to use desalinated process water and an unlined TSF.

The plant will consume approximately 6,000 cubic metres of water per day which was to have been sourced from a borefield set back from the Red Sea shoreline. However, recent evaluation of the proposed area made it doubtful the required volume of water could be produced.

Gippsland’s 50 percent held joint venture company Tantalum Egypt has now been allocated a. 8.75 hectares waterfront property which guarantees access to an unlimited quantity of water.

The new borefield, which has a Red Sea waterfrontage of 350 metres, is ideally suited for the project's desalination plant and long-term seaside accommodation facilities for Tantalum Egypt employees, Gippsland said.

Its engineers are presently updating the Environmental Impact and the   Feasibility studies to reflect the relatively minor changes associated with the use of an unlined TSF and desalinated water.

The project finance discussions with the German government owned bank KfW IPEX-Bank GmbH have been in a state of hiatus. KfW's legal and technical due diligence process is largely complete however it will now be necessary for KfW to consider the minor changes associated with the use of desalinated water and an unlined TSF.

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