Cominco Res. re-opens U.S. nickel smelter

An improvement in nickel prices has prompted Cominco Resources International (TSE) to re-open its half-owned Glenbrook nickel smelter in Oregon.

A subsidiary of Cominco (TSE) owns the other 50% interest in the facilities. Both the smelter and the Coos Bay ore-receiving facility were shut down in August, 1993, in response to low nickel prices. The smelter is currently capable of producing 36 million lb. nickel (in ferronickel form) per year. This can be expanded to more than 40 million lb. if an additional electric furnace (now idle) is activated.

High-grade ore will be imported from New Caledonia, with the first shipment expected in March. The Buena Vista project in Guatemala, held jointly by Cominco Resources and Cominco Inc., could one day provide a viable source of supplementary ore.

A high-grade, probable resource is outlined in the Main zone at 2 million tons grading 2.1% nickel. A previous owner defined a larger resource at 25 million tons grading 1.8% nickel. Work continues on the project in an effort to evaluate metallurgy and the economic feasibility of transporting the ore. Cominco Resources estimates it will have to contribute US$15 million toward startup.