MONTO SIGNS WATER TRANSPORT AGREEMENT FOR GOONDICUM PROJECT
Monto Minerals wholly owned subsidiary, Monto Resources Pty Ltd has entered into a Water Transport Agreement with the Queensland Government's SunWater for the transport of water to the Goondicum project in central Queensland. SunWater is a leading water industry company providing water infrastructure and supply services throughout Queensland, Australia and the region.
Under the Agreement SunWater will build, own and operate a 35km pipeline to transport water to the Goondicum project from Monto's bores in the Mulgildie Basin to the south of Monto. The pipeline capacity has been designed to meet the water needs of the Goondicum project for up to 25 years and will also provide supplementary domestic and stock supply for landholders as part of compensation agreements. Design detail, survey and procurement activities have already commenced and construction of the water pipeline is scheduled for completion in late May 2007.
Announcing the Agreement today, Monto Chief Executive Geoff Moore said that the SunWater Agreement was an important milestone in the ongoing development of the Goondicum project.
'Site works at the multi-product Goondicum Industrial Minerals project commenced in August this year and construction of the Goondicum processing plant is scheduled for completion in April/May 2007. Commissioning of the plant will commence upon the delivery of water from the pipeline.'
Goondicum is scheduled to commence sales of high quality industrial minerals to Australian and international customers in the second half of calendar 2007.
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