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BRIEF-Padaeng Industry PCL says it will cease its conventional zinc business by the end of 2017

Published 19/02/2016, 09:12 pm
© Reuters.  BRIEF-Padaeng Industry PCL says it will cease its conventional zinc business by the end of 2017

Feb 19 (Reuters) - Padaeng Industry PCL PDI.BK :

* Pdi will cease its conventional zinc business by the end of 2017

* Pdi's mae sod mine will be fully depleted by the end of 2016

* All efforts to identify and obtain permits for additional mine deposits in Thailand and neighboring countries have failed

* As a result the continuation of pdi's zinc business would solely depend on imported ores, mainly from South-America and Australia.

* Operational costs will largely exceed revenues from the zinc business and pdi might generate continuous losses"

* Board of directors also decided to speed-up the investment program in the make-over of the company into sustainable businesses

* PDI will continue to produce zinc from conventional supply till 2017

* Source text for Eikon ID:nSETsf6b0a

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