A $310-million gold and silver mining project in Indonesia by Oxiana Resources Ltd should soon get underway with production anticipated late next year, a senior company official said on Tuesday.
The Australia-listed miner is also on track to boost copper output from its mine in Laos by more than 20 per cent to 80,000 tonnes in 2010 and is in the final stage of acquiring miner Zinifex Ltd, said Bruce Loveday, general manager for external affairs.
"That (the merged company) would be the third-largest diversified miner on the Australian board. It'll have a market capitalisation certainly in the $A10 or $A11 billion range," he told Reuters on the sidelines of a mining conference.
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OXR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
