Citing low metal prices and high metal inventories, Noranda (NRD-T) has decided to temporarily close its Bell Allard underground zinc mine in Matagami, Que.
Production will be idled for one month beginning on June 29, 2002.
The company’s senior vice-president George Jones said in a prepared statement, “Market conditions for zinc have not improved as quickly as we had expected therefore we needed to take action toward reducing our overall output and to realize as much potential from the remaining ore reserves.”
The company says it does not expect production at the CEZinc refinery outside Montreal to be impacted.
The mine began commercial production in January 2000 and has a design capacity of 2,100 tonnes per day. It currently produces 2,000 tonnes per day. Its 265 workers are members of United Steelworkers of America, local 6131.
Current proven reserves should support operations for a further three years.
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