MATAGAMI, Quebec NORANDA INC. announced yesterday that the Bell Allard zinc mine will run out of ore and be closed in the fourth quarter of 2004. The mine was opened in 1999 to supply zinc concentrate to the CEZinc refinery in Valleyfield, Que. The closure is considered permanent and will affect approximately 230 people.
The next producer in the Matagami Division will be the Perseverance deposit, but it will take two years for construction and start-up after Noranda decides to proceed. The development of the Perseverance deposit is on hold pending the strengthening of metal prices.
Discovered early in 2000, Perseverance is a high-grade zinc deposit consisting of three zones: Perseverance, Perseverance West and Equinox. Resources are estimated at 5.1 million tonnes containing 15.82% Zn, 1.24% Cu, 29.4 g/t Ag, and 0.38 g/t Au. Noranda has invested $10 million drilling and studying the project.
Bell Allard mine manager Michel Boucher can be reached at 819-739-2593 or boucherm@matagami.noranda.ca.
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