From Jan 15th 2010

http://www.timminspress.com/ArticleDisplay.aspx?e=2259834

Mine remains closed after ground movement

Xstrata Nickel assessing operation

Posted By Ron Grech, The Daily Press

Posted 15 days ago

"We continue to assess the options available to us and will keep stakeholders informed as updates become available," Peter Fuchs, Xstrata Nickel's director of corporate affairs, wrote in an e-mail to The Daily Press after being asked about the status of the Montcalm Mine.

A geotechnical review conducted last spring showed structural damage to the mine as a result of the ground movements.

Before the company was forced to suspend operations in March, the Montcalm's life as a productive mine was scheduled to end in mid 2011.

Last year, it was expected to produce 9,000 tonnes of nickel contained in concentrate over the course of an originally anticipated 12 months of operation."

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Recall that Xstrata said they would be increasing their output going forward. Here's some tidbits from that article.

"He said Xstrata would now concentrate on plans to boost overall production volumes by 50 percent by 2013."

"Xstrata has closed its high-cost mines in Sudbury, Canada, and suspended operations at Falcondo in the Dominican Republic and Montcalm in Canada.

Xstrata decided to permanently shut its Kidd copper and zinc metallurgical plant in Canada after warning last week that it was considering closing or selling some of its four copper smelters.

The Anglo-Swiss group, which will take a charge of $375 million for the closure, said it was facing global overcapacity in copper smelting and record low treatment and refining charges. The Kidd mine and concentrator will continue to operate, it added."

http://ww.agoracom.com/ir/Inspiration/forums/discussion/topics/387527-good-reading-on-what-s-next-from-xstrata

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