The Mighty Sudbury Basin – Politically Secure, Enormously Pro-Mining and Geologically Rich – is on a Mine Building Boom – by Nick Stewart (Part A)
This article was first published in Northern Ontario Business, a newspaper that has been providing northerners with relevant and insightful editorial content, business news and information for over 25 years.
While much of southern Ontario’s manufacturing economy is taking a beating, Sudbury and its mineral industry is riding high with record capital investments in mining. Here’s a round-up of what’s going on with the big and small producers.
Xstrata Nickel
The world’s fourth-largest nickel miner has a series of major local investments on the go and recently received approval from head offices in Switzerland for $455 million to move them forward.
Of that total, $280 million will be spent on developing the new Fraser Morgan mine, which goes into operation in 2010, producing 7,000 tonnes of nickel per year. Up to $70 million has been spent on the project to date.
The remaining $175 million will go towards the local Strathcona Mill, which currently handles 2.4 million tonnes of ore. The investment will expanded that to 3.4 million.
These are just a small part of Xstrata’s local growth plan, which includes bringing its flagship Nickel Rim South mine into production in 2009, having first hit upon its value in 2001. Once fully operational, it will annually produce between 12,000 and 15,000 tonnes of nickel, 50,000 tonnes of copper and several hundred ounces of precious metals.
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