Zinifex to become owner-operated

The management of Zinifex Century Mine and Downer EDI Mining has announced the dissolution of Century Mining Alliance.

The management of Zinifex Century Mine and Downer EDI Mining has announced the dissolution of Century Mining Alliance.

To ensure a smooth transition, both Downer EDI Mining and Zinifex have agreed to stage the transition between 1 July 2008 and 30 June 2009.

Formed in 2004, the Century Mining Alliance was intended to build the capacity necessary to allow Zinifex to become owner-operator of the mine.

Downer EDI Mining and Zinifex Century Mine are proud of the capacity built by their people during the four years of their Alliance.

In that time, Zinifex Century Mine has grown to produce around 1 million tonnes of zinc and lead concentrates annually.

Zinifex Century Mine generated revenues of approximately $1.4 billion in FY07, and employs nearly 1,000 people.

Downer EDI Mining will continue to support operations during this business as usual transition phase, and has agreed that its employees on site may become employees of Zinifex Century Mine.

Zinifex Century Mine’s general managerJohn Lamb said that Zinifex Century mine has valued the contribution made by Downer EDI employees to the success of the mine.

“For that reason, Zinifex intends to offer jobs to all current Downer EDI Mining employees. They will be transferred across to Zinifex over this 12-month period and will become Zinifex employees. It is expected that some will choose to continue with Downer,” he said.

Job losses are not expected, and very few roles will be duplicated in the transition process.

Transmission of business laws commit Zinifex to offer jobs to all Downer EDI Mining employees currently working at Zinifex Century Mine.

Kathryn Logan

Stakeholder Relations Officer

Zinifex Century Mine

info@zinifex.com

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