Plant Development & ProductionCompletion of the construction of...

Plant Development & Production
Completion of the construction of the Engenho treatment plant has been postponed by approximately three weeks due to a late wet season which hindered key welding and electrical activities during the final phases of plant construction.
Current planning confirms that the treatment plant will be fully operational by the end of April 2008. The Company’s Board and management is committed to maintaining a disciplined approach to all asset development. In line with this approach, the Company believes that it is a more valid strategy to complete plant construction to the highest possible level rather than take any short-cut strategies to fast track commissioning and potentially compromise the operational efficiency of the plant later.