Singapore (Platts)--16Jul2008Australia's Aim Resources has...

Singapore (Platts)--16Jul2008

Australia's Aim Resources has suspended its Perkoa zinc project in
Burkina Faso, West Africa, citing falling zinc prices and the financial and
equity markets' downturn, the company said Thursday.
The miner said it has faced difficulty raising equity for the project due
tightened debt markets and the weak equity environment. Zinc prices have also
fallen well below the price required to provide adequate return on investment
for the project, Aim said.
The Sydney-based company will restart the project when zinc prices are
more favorable and funding options improve.
In the meantime, it will implement a $15 million care and maintenance
program for the project, including assessing the feasibility of silver
extraction and continuing exploration activities in Burkina Faso, Zambia and
South Africa.
--Li Anne Wong, [email protected]