QUEBEC Montreal's CAMPBELL RESOURCES has announced that mining at its 100%-owned Copper Rand copper-gold mine near Chibougamau will come to an end by Dec. 31, 2008.
Effective immediately, all development work and diamond drilling activities have ceased at the mine. Mining activities will be concentrated in two areas that are already developed, one of which is of higher ore grade. Overall, manpower resources will immediately be reduced by 45 from a total of 169 employees currently working at the mine and mill, and further reductions will occur as working areas are closed. By the end of the year, manpower at Copper Rand will total approximately 50 employees.
"The decision to close the Copper Rand mine is an extremely difficult one, but we are convinced that this is the only reasonable course of action at this time," Campbell president and CEO Andre Fortier said. "We will now be dedicating our resources to the ongoing development of the higher-grade Corner Bay project and operations at the Copper Rand mill and to pursuing other opportunities in the Chibougamau camp."
The Copper Rand mine first began production in 1959. See www.RessourcesCampbell.com.
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