Nerco celebrates Con mine’s 50th

Nerco Minerals recently celebrated the 50th anniversary of its Con mine at Yellowknife. Mine officials and local residents marked the occasion at the Robertson headframe, the tallest structure in the Northwest Territories.

Nerco Minerals, a major North American precious metals producer, acquired the mine in 1986 from Cominco Ltd. The company has initiated several capital projects at the mine since taking the operation over. An expenditure of $13.7 million(US) was made in 1987 on capital improvements and Nerco Minerals President, Lawrence E. Heiner, confirmed a similar amount will be spent this year.

Specific improvements completed or planned include new mining equipment, offices, production facilities, safety programs, and a water treatment plant. The mine’s work force has also increased from 320 in 1986 to 470 employees this year. Nerco feels a production rate of 100,000 oz per annum is pos sible within three years which is about 10,000 oz higher than the present rate.

The Con mine was constructed in 1937 and the first gold was poured Sept 5, 1938. Since that time, the mine has produced nearly three million ounces of gold.

Commenting on the anniversary, Heiner said,”even though our tenure as owner and operator of the Con mine has been relatively brief, we are extremely proud to celebrate this historic event with mine employees, retirees, public officials, and other residents of Yellowknife.”

Nerco Minerals is a wholly- owned subsidiary of Nerco Inc (NYSE) of Portland, Ore. which is controlled by PacifiCorp, a diversified utility based in Portland.