Oxiana expects Khanong financial close by year-end

OXIANA expects to close financing for its Khanong copper project by mid-December and remains on track for first commercial production in 2005, although cost estimates have risen by US$38 million due largely to currency fluctuations and the inclusion of power facilities.

Oxiana expects Khanong financial close by year-end Oxiana expects Khanong financial close by year-end Oxiana expects Khanong financial close by year-end Oxiana expects Khanong financial close by year-end Oxiana expects Khanong financial close by year-end

The capital cost had been pegged at US$167 million in Oxiana’s October 2002 bankable feasibility study but is now expected to come in at around US$205 million.

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