Widespread Energy agrees on studies

Widespread Energy says it has reached agreement with three of the world's largest dredging companies to carry out two jointly funded mining concept studies of rock phosphate deposits on the Chatham Rise.

One study was being undertaken by Dutch dredging company Royal Boskalis Westminster, the other by a consortium of Rotterdam-based IHC Merwede and Belgium headquartered Deme, Widespread said yesterday The concept studies would assess technical feasibility, how to minimise environmental impact, production estimates and a preliminary indication of capital and operational costs. Widespread would then select an exclusive partner for detailed design, production testing and a mining/dredging operation.

- NZPA