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PASMINCO FACES SALE OF THREE AUSTRALIAN SMELTERS.
SYDNEY, Sept 3 Asia Pulse - Pasminco Ltd (ASX: PAS), the embattled zinc group, is reportedly facing the sale or closure of its three Australian zinc and lead smelters.
The Australian Financial Review reported today that Pasminco had delayed the release of its annual results by two weeks until September 12 as its market value sagged to an all-time low of $A66 million ($US34.71 million).
Facing more than $2.5 billion in debts, Pasminco has already put several of its mining operations up for sale.
But the the sales are not expected to raise enough to prevent a corporate collapse and the loss of 1,800 jobs across the country, the newspaper reported.
Shares in the Melbourne-based miner plunged 35 per ...
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Source: HighBeam Research, PASMINCO FACES SALE OF THREE AUSTRALIAN SMELTERS.