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The company said that while its work on the project demonstrated the potential to meaningfully extend the life of the Dendrobium mine, expected returns from the ~US$700M up-front capital expenditure estimate are not sufficient to support an investment relative to alternatives considered for the complex.
CEO Graham Kerr commented, "Our decision today follows an extensive analysis of the alternatives for Dendrobium together with the anticipated returns from the up-front capital investment which would be required.
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