Xstrata plc

Published : June 02nd, 2011

Xstrata Zinc enters agreement to acquire Canadian zinc prospects

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Keywords :   Canada | Copper | Lead | Peru | Spain | United Kingdom | Zinc |

 

Xstrata Zinc has entered into a binding agreement with Sabina Gold and Silver Corporation to purchase the Hackett River and Wishbone exploration properties in the Western Kitikmeot region of Nunavut, North Canada.

 

Exploration drilling in Hackett River is underway and has confirmed an NI 43-101 compliant resource of circa 60 million tonnes of ore containing zinc, silver, copper, lead and gold, with approximately 5.2 million tonnes of zinc equivalent, housed within four proximal near surface deposits amenable to open pit mining.  Both properties contain significant additional exploration potential.

 

The Hackett River property comprises nine mineral leases totaling 12,250 hectares. The Wishbone area comprises 132 mineral claims covering 107,227 hectares.

 

Under the terms of the agreement, Xstrata will pay a cash consideration of C$50 million and will grant a silver royalty to acquire the properties. Additionally, Xstrata will commit a further C$50 million in exploration and to complete a bankable feasibility study within four years of the transaction's closing. 

 

Xstrata Zinc Canada Chief Operating Officer Manuel Alvarez commented: "This transaction, added to the extension of the life of our Brunswick Mine and the development of the Bracemac-McLeod Mine, is consistent with our strategy of increasing the life of Xstrata Zinc's operations in Canada and demonstrates Xstrata Zinc's commitment to a growing presence in the country. We now look forward to working with local stakeholders in Nunavut in the coming years as this project moves forward."

 

Xstrata Zinc Chief Executive and Xstrata plc Executive Director Santiago Zaldumbide added: "The prospective Hackett River and Wishbone exploration properties are early stage opportunities that could provide additional mined zinc production to complement our Canadian operations. This transaction is aligned with our commitment to continuously seek value enhancing projects for Xstrata Zinc, the world's leading integrated producer of zinc, and provides us with entry into a highly prospective region."

Ends

Neither the content of the company's website nor the content of any other website accessible from hyperlinks on the company's website is incorporated into, or forms part of, this announcement

 

Xstrata contacts

 

Xstrata Zinc Canada

 

 

Xstrata

 

 

Louis-Philippe Gari�py 

 

Alison Flynn

 

Telephone

+ 1 (514) 645 2311 x2162

 

Telephone

+44 20 7968 2838

Email

lgariepy@xstratacopper.ca

 

 

Email

aflynn@xstrata.com

 

 

 

 

 

 

 

 

ABOUT XSTRATA ZINC

Headquartered in Madrid, Spain, Xstrata Zinc is one of the world's largest producers of zinc and one of the commodity business units within the major global diversified mining group Xstrata plc. Xstrata's zinc and lead operations and exploration projects are located in Australia, Canada, Germany, Peru, Spain and the United Kingdom.

Xstrata Zinc's operations in Spain comprise the San Juan de Nieva zinc smelter and the Arnao zinc semis plant in Asturias, and the Hinojedo roasting plant in Cantabria.

In Australia, operations comprise: the Mount Isa, George Fisher underground, Handlebar Hill open cut and Black Star open cut zinc-lead mines, zinc-lead concentrator, lead smelter and Bowen Coke Works in north Queensland; and the McArthur River open pit zinc-lead mine, processing and loading facility in the Northern Territory.

In Canada, operations and exploration projects include the Brunswick zinc-lead mine, and the Brunswick Lead smelter and recycling facilities in New Brunswick; the Perseverance zinc mine and the Bracemac McLeod mine development in Quebec and the General Smelting facilities and 25% of the CEZ zinc smelter near Montreal.

Xstrata Zinc also operates the Nordenham zinc smelter in northern Germany; the Northfleet lead refinery in the United Kingdom; and owns 33.75% of the Antamina mine in Peru.

Around half of all zinc currently consumed is used for galvanizing steel, which is an environmentally friendly method of protecting steel against corrosion. Zinc also finds application in the manufacture of die-cast alloys, brass and the production of zinc oxides and chemicals.

 

 

 

 

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Xstrata plc

PRODUCER
CODE : XTA.L
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Xstrata is a zinc and lead producing company based in Switzerland.

Xstrata produces zinc, lead, bauxite, coal, cobalt, copper, gold, molybdenum, nickel and silver in Argentina, in Australia, in Botswana, in Canada, in Chile, in Colombia, in Jamaica and in Peru, develops cobalt, copper, copper , gold, lead, molybdenum, nickel, palladium, platinum, silver, uranium and zinc in Argentina, in Australia, in Canada, in Chile, in Dominican Republic, in New Caledonia and in Philippines, and holds various exploration projects in Argentina, in Australia, in Botswana, in Brazil, in Canada, in Chile, in Greenland, in Ireland, in Mexico, in Norway, in Panama, in Papua New Guinea, in Peru, in South Africa, in Turkey and in Yemen.

Its main assets in production are ALUMBRERA in Argentina, KIDD CREEK MINE (MINE D), CRAIG - ONAPING (SUDBURY) MINE, PELLETIER LAKE (STADACONA MINE), LINDSLEY MINE, NORALEX (WEST ANSIL, HORNE, ETC), STRATHCONA, KIDD CREEK DIVISION, BUCKO LAKE, FALCONBRIDGE MINE, RAGLAN, SUDBURY, BRUNSWICK MINE and KIDD in Canada, HYC MCARTHUR RIVER, MOUNT ISA LEAD ZINC SILVER, ERNEST HENRY, BOUNTY MINE, COSMOS MINE, THUNDERBOX, EMILY ANN (LAKE JOHNSTON), MT MCCLURE, MT ISA, SILVER SWAN, MT ISA BLACK STAR, MT ISA ENTERPRISE and EMILY ANN in Australia, LOMAS BAYAS and COLLAHUASI MINE in Chile, TINTAYA, ANTAMINA, ANTAMINA and ANTAMINA ZINC ORE in Peru, PHOENIX MINE (TATI NICKEL) in Botswana, PRODECO in Colombia and ST ANN BAUXITE in Jamaica, its main assets in development are LENNARD SHELF, MAGGIE HAYS, CLONCURRY COPPER and LENNARD SHELF in Australia, CERRO DE MAIMON and FALCONDO MINE in Dominican Republic, AGUA RICA and EL PACHON in Argentina, HACKETT RIVER, PREMIERE RIDGE, ONAPING DEPTH, FRASER MORGAN, NICKEL RIM SOUTH, ONAPING DEPTH, PERSEVERANCE and PD1 in Canada, LOMAS BAYAS II in Chile, KONIAMBO in New Caledonia and TAMPAKAN in Philippines and its main exploration properties are HORNE SMELTER, ISLAND COPPER, KONRAD, MARY MARCH, MEGATEM, ROBB LAKE, AKWESKWA, MUSK, CEZINC, DONKIN, TROILUS / TORTIGNY, TORTIGNY, SABIN, CHANCE, TULKS NORTH, CATFACE, GREAT BURNT LAKE, WEST ANSIL, TULK SOUTH - DOMINO, TULK EAST B ZONE, TULK SOUTH BOOMERANG, TULK EAST A ZONE, TULK LONG LAKE MAIN ZONE, SKIDDER, MATAGAMI, HEATH STEELE MINES, GASPE MINE and MONTCALM TWP PROP in Canada, BLACK ROCK, TOBY CREEK, MUSGRAVE, MOUNT PEAKE and SINCLAIR in Australia, ELMALAAN in Turkey, MANGABAL in Brazil, KABANGA in Tanzania, FRIEDA - NENA DEPOSIT in Papua New Guinea, PALLAS GREEN in Ireland and DIKOLOTI in Botswana.

Xstrata is listed in Germany and in United Kingdom. Its market capitalisation is GBX 2 893.1 billions as of today (US$ 4 497.6 billions, € 3 435.7 billions).

Its stock quote reached its lowest recent point on April 30, 2013 at GBX 963.50, and its highest recent level on May 02, 2013 at GBX 999.70.

Xstrata has 3 002 692 076 shares outstanding.

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LSE (XTA.L)FRANKFURT (XTR.F)
963.50-2.64%0.016-5.88%
LSE
GBX 963.50
04/30 16:35 -26.10
-2.64%
Prev close Open
970.16 987.50
Low High
960.50 1,002.50
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  963.50 216.94%
Volume 1 month var.
20,722,175 216.94%
24hGold TrendPower© : -33
Produces Bauxite - Copper - Gold - Lead - Molybdenum - Nickel - Silver - Zinc
Develops Cobalt - Copper - Gold - Lead - Molybdenum - Nickel - Palladium - Platinum - Silver - Zinc
Explores for Coal - Copper - Gold - Lead - Nickel - Silver - Vanadium - Zinc
 
 
 
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