Lihir gets out of Ballarat

LIHIR Gold has entered a sales agreement with Castlemaine Goldfields to offload its costly Ballarat mine in Victoria, which will close down today as both parties iron out the deal.

Lihir gets out of Ballarat Lihir gets out of Ballarat Lihir gets out of Ballarat Lihir gets out of Ballarat Lihir gets out of Ballarat

The Ballarat operation, which has returned to project status, cost the major Papua New Guinean gold producer $US413 million after tax in impairment charges and operational losses in 2009.

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