Full operations at the Heath Steele base metal deposit, near Bathurst, N.B., are scheduled to resume later this fall, reports owner Brunswick Mining and Smelting (TSE).
The decision to reopen is largely based on the worldwide depletion in zinc concentrate stocks and on expectations that the zinc market will improve in 1995. The decline in the value of the Canadian dollar has resulted in the zinc price rising in terms of Canadian currency, even though the value expressed in U.S. currency has remained static.
The actual reopening will involve two months of preparatory work and four months of mill and mine construction prior to mill startup. Construction and development are scheduled to begin July 1, and the mill is expected to be running by Nov. 1.
Employees will be recalled on a gradual basis, beginning immediately and according to the needs of the operation. Once full production is achieved, about 235 workers will be employed.
When operations were suspended in July, 1993, proven and probable reserves stood at 3.6 million tonnes grading 7.1% zinc, 2.0% lead, 0.9% copper and 73 grams silver per tonne.
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