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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (712)	8/24/1998 10:39:00 PM
From: Tomas	of 2742

Papua New Guinea: Australian Financial Review, Tuesday Comalco is remaining coy about its plans to construct a greenfield $1.4 billion alumina refinery. Mr Palmer said a site in either Malaysia or Gladstone in Queensland had yet to be decided. There is mounting pressure from the Queensland Government to make a decision soon. It is understood the State Government is considering withdrawing a development assistance package if a commitment to Gladstone is not made within weeks. Such a commitment would advance the proposed PNG to Queensland gas pipeline, which would supply gas to a new power station needed if Comalco pressed ahead with the Gladstone proposal.

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