The final equipment from the shutdown Thierry copper mine near Pickle Lake, Ont., is being sold by owner Umex Inc. Since shutting down in 1982 as a result of weak copper prices, the Thierry mine was kept on a care and maintenance basis for more than five years. Starting in March, 1987, the company began to sell equipment and is letting the mine flood.
In the latest sale, Umex has put the 4,000-ton-per-day concentrator and the mine’s trackless mining fleet on the auction block, President Kenmuir Armitage tells The Northern Miner.
Although Armitage conceded that the Thierry mine would make money at current copper prices, the uncertainty as to how long such prices will be maintained forced the company to liquidate the project assets. He also added that, in the past, several mining companies have shown some interest in purchasing the property from Umex.
When operations commenced in 1976, the mine hosted reserves of 14 million tons grading 1.6% copper per ton. The deposit remains open at depth.
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