Minesite News (August 01, 2001)
Mount Polley Suspends Operations
Imperial Metals Corp. will suspend mining and milling operations at the Mount Polley copper-gold mine on September 30, 2001, as a result of continuing low copper and gold prices. Orderly shutdown procedures will be followed and the mine will be maintained on standby pending an improvement in metal prices. The operations are in central British Columbia, 60 km northeast of Williams Lake.
Mount Polley directly employs some 240 people and provides indirect employment for many others. Most of these jobs will be affected by the suspension.
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Antamina Ships First Concentrate to Canada
Compaa Minera Antamina (CMA) of Lima, Peru, has achieved a major milestone. It shipped the first copper concentrate produced at its Antamina copper-zinc mine in northern Peru from the Port of Punta Lobitos in Huarmey on July 12, 2001. The shipment of 16,200 tonnes of concentrate was destined for Noranda’s copper smelter in Murdochville, Que., to arrive at the Port of Gasp by the end of July.
Ramp-up operations are continuing as planned at the minesite and the concentrator has already achieved treatment levels close to its design capacity of 70,000 tonnes per day. Production is expected to reach commercial levels during the fourth quarter of this year, more than two months ahead of plan.
Antamina will be among the largest and lowest cost copper-zinc producers in the world with average annual production forecast at 675 million pounds of copper and 625 million pounds of zinc in the first ten years. The project has been developed and will be operated by CMA, which is owned by BHP Billiton (33.75%), Noranda Inc. (33.75%), Teck Corp. (22.5%) and Mitsubishi Corp. (10%).
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