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BASE METAL MINING – Breakwater sets 2008 capex spending at $105M

TORONTO - BREAKWATER RESOURCES has plans to spend $105.4 million on capital projects at the company's operations.


TORONTO – BREAKWATER RESOURCES has plans to spend $105.4 million on capital projects at the company’s operations.

The largest chunk of spending, $42.4 million, will go to the Langlois zinc-copper mine in northwest Quebec. The budget breaks down this way: $10.2 million for mine equipment, $28.5 million for mine development and $3.7 million on mill improvements and other projects.

Breakwater has also earmarked $12.7 million for its Myra Falls zinc-copper mine on Vancouver Island. The company plans to spend $7.8 million on mine development, $2.2 million on the new tailings impoundment area, $1.0 million in the mill and $1.7 million on various other projects.

The company has also committed capital to two offshore operations. The El Mochito zinc-lead mine in northwest Honduras will receive $24.2 million, principally for mine equipment, mine development and tailings impoundment improvements. At the Toqui zinc-gold mine in central Chile, $26.0 million will be spent. The major project is construction of a pastefill plant at a cost of $8.2 million.

From the four operations, Breakwater expects to produce 137,400 tonnes of zinc, 8,500 tonnes of copper, 18,700 tonnes of lead, 26,400 oz of gold and 2.8 million oz of silver (payable metals in concentrate) in 2008.

Visit www.Breakwater.ca to learn more about these four mines.


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