NEW YORK HUDBAY MINERALS of Winnipeg announced the closure of its Balmat zinc mine and concentrator in the face of low metal prices. Operations were expected to cease on Aug. 22, 2008, putting 200 people out of work. A small group of employees will be retained to keep the facility on care and maintenance.
The mine and 5,000-t/d mill was reopened in 2005 at a cost of US$20 million. Most of the concentrate was treated at the CEZ refinery in Quebec.
HudBay will continue to test geophysical anomalies within its exploration territories in the region as part of its overall 2008 exploration program announced earlier in the year. The company indicated that affected employees will receive transition support and the company will work with employees closely during this difficult time. (www.HudBayMinerals.com)
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