COPPER-GOLD PRODUCTION NEWS SAG Mill Failure Interrupts Ok Tedi

STAR MOUNTAINS, Papua New Guinea Production was interrupted on Jan. 27, by the failure of one of the two SAG mills at the Ok Tedi mine belonging to INMET MINING. Mineral processing will continue at about 50% of the normal rate for the next two months while repairs are made. The unaffected SAG mill was substantially rebuilt in early 2003. No word on the reason the second mill failed.

Updates will be posted at www.inmetmining.com.