ONTARIO - North American Palladium of Toronto has resumed production at its flagship Lac des Iles mine 85 km northwest of Thunder Bay. The company expects to produce 140,000 oz of palladium per year from Canada's only primary producer of this metal.
Mining has resumed at the underground Roby zone at approximately 2,000 t/d, but it is expected to reach the target rate of 2,600 t/d by May 1. Work was suspended in October 2008 due to weak metal prices and the meltdown of international financial markets.
The company has a workforce of 180 at the mine site, and it recently signed a new collective agreement, effective until May 31, 2012, with the United Steelworkers. Lac des Iles concentrate will again be treated by Xstrata Nickel at its Sudbury, ON, site.
National Instrument 43-101 numbers for reserves and resources are available at www.NAPalladium.com.
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