| | Publié le 14 octobre 2011 | Quadra FNX And Xstrata Nickel To Create An Access Arrangement On The Craig Mine |
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News Release - Friday, October 14, 2011 Quadra FNX And Xstrata Nickel To Create An Access Arrangement On The Craig Mine
Vancouver, Canada -- October 14, 2011 - Quadra FNX Mining Ltd. ("Quadra FNX" or the "Company") (TSX: QUX) and Xstrata Nickel have signed a term sheet to utilize the Craig mine shaft and related underground infrastructure to further develop and operate the Levack mine, including the Morrison deposit. All amounts are in US dollars.
Quadra FNX expects that the use of Xstrata Nickel's Craig infrastructure will significantly improve the operational flexibility of the Morrison deposit and provide additional mining and drill access in the lower portions of this high grade ore body. The additional development and improved efficiency is expected to have a positive impact on production.
Paul Blythe, President & CEO comments; "The access arrangement with Xstrata Nickel provides mutual benefits to both parties going forward. We will be advancing the implementation plan in order to shift operations from the Levack #2 shaft to the Craig shaft immediately. This will be a significant step forward in the optimization of our high-grade Morrison deposit."
The key terms:
- Quadra FNX gains access to the Craig shaft and mine infrastructure for the life of the Levack mine/Morrison deposit
- Quadra FNX will operate the Craig shaft and underground infrastructure but will not undertake mining from Xstrata Nickel's Craig property. In the event Xstrata Nickel exercises its option to resume operational management of the Craig shaft, it will continue to provide access to Quadra FNX to hoist up to 450,000 tonnes per annum of material from the Levack mine/Morrison deposit
- Quadra FNX will pay Xstrata Nickel:
- $10 million during the first year of operation
- $2 million per annum lease fee plus a sliding scale payment per tonne of ore hoisted via the Craig shaft
This arrangement is subject to the finalization of a definitive agreement that provides for these and other terms within 60 days.
The approximately 5,000 foot Craig shaft is connected to Quadra FNX's Morrison deposit by an access drift on the 4000 level that represents a second access point to its operations, the first being a ramp from the Levack #2 shaft on 2650 Level.
The key benefits:
- Expanded hoisting and haulage capacity at the Morrison deposit allowing the potential for higher throughput and production going forward
- Improved operating flexibility, underground infrastructure, ventilation and power distribution to the lower parts of the Morrison deposit
- Accelerated underground access, development of definition drilling platforms and mine development in the lower portion of the Morrison deposit
- Immediate cost savings related to the cessation of ongoing rehabilitation work on the existing Levack #2 shaft
- Significant improvement in drill access which will facilitate mineral resource delineation (for future conversion to reserves) in the lower portion of the Morrison deposit
- Development of alternative diamond drill platforms which will be used to evaluate additional exploration targets proximal to the Morrison orebody
The arrangement also enables Xstrata Nickel to retain the operational integrity and productive capacity of the Craig infrastructure which has been in a "care and maintenance" state since February 2009.
CONFERENCE CALL DETAILS:
A conference call to discuss the Craig Access Arrangement and Q3 2011 operating results has been scheduled for Friday, October 14 2011, at 11:30am ET (8:30am PDT). The North American toll free number for this conference call is 1-800-355-4959, all other participants please call 1-416-695-6616. The playback version of the call will be available October 21, 2011 at 1-905-694-9451 or North American toll free 1-800-408-3053 and using the pass code: 3086132.
About Quadra FNX Mining Ltd. (TSX: QUX)
Quadra FNX Mining Ltd. is a leading mid-tier copper mining company with corporate offices in Vancouver, B.C. and Toronto, Ontario. Quadra FNX produces copper, nickel and precious metals from its operating mines: Robinson in Nevada, Carlota in Arizona, Franke in northern Chile, and Levack, which includes the Morrison Deposit, Podolsky and McCreedy West in Sudbury, Ontario. The Company has two key development projects: the Sierra Gorda project, a copper-molybdenum project in Chile, and the Victoria project, a polymetallic project in Sudbury, Ontario. Quadra FNX employs approximately 2,500 people in North and South America.
Forward-Looking Statement
This Press Release contains "forward-looking information" that is based on Quadra FNX's expectations, estimates and projections as of the dates as of which those statements were made. This forward-looking information includes, among other things, statements with respect to the increase in operational flexibility of the Morrison deposit and its impact on production and are dependent on reaching a final agreement with Xstrata Nickel on the terms of a definitive agreement as described in this Press Release. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Quadra FNX's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, and developed based on assumptions about such risks, uncertainties and other factors set out herein.
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Media and Investor Relations Contact:
Derek White |
Nawojka Wachowiak |
Executive Vice President, Corporate Development |
Vice President, Investor Relations |
(604)-699-3063 |
(416) 985-8317 |
Copyright � 2011 QUADRAFNX MINING LTD. (QUA) All rights reserved. For more information visit our website at http://www.quadrafnx.com/ or send email to info@quadrafnx.com ..
Données et statistiques pour les pays mentionnés : Canada | Tous Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous
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Xstrata plc
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CODE : XTA.L |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Xstrata est une société de production minière de zinc et de plomb basée en Suisse. Xstrata est productrice de zinc, de plomb, d'argent, de bauxite, de charbon, de cobalt, de cuivre, de molybdène, de nickel et d'or au Botswana, au Canada, au Chili, au Perou, en Australie, en Argentine, en Colombie et en Jamaique, en développement de projets d'argent, de cobalt, de cuivre, de molybdène, de nickel, d'or, de palladium, de platine, de plomb, d'uranium et de zinc au Canada, au Chili, aux Philippines, en Australie, en Argentine, en Nouvelle-Caledonie et en Republique Dominicaine, et détient divers projets d'exploration au Botswana, au Bresil, au Canada, au Chili, au Groenland, au Mexique, au Panama, au Perou, au Yemen, en Australie, en Afrique Du Sud, en Argentine, en Irlande, en Norvege, en Papouasie-Nouvelle-Guinee et en Turquie. Ses principaux projets en production sont ALUMBRERA en Argentine, 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 et KIDD au 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 et EMILY ANN en Australie, LOMAS BAYAS et COLLAHUASI MINE au Chili, TINTAYA, ANTAMINA, ANTAMINA et ANTAMINA ZINC ORE au Perou, PHOENIX MINE (TATI NICKEL) au Botswana, PRODECO en Colombie et ST ANN BAUXITE en Jamaique, ses principaux projets en développement sont LENNARD SHELF, MAGGIE HAYS, CLONCURRY COPPER et LENNARD SHELF en Australie, CERRO DE MAIMON et FALCONDO MINE en Republique Dominicaine, AGUA RICA et EL PACHON en Argentine, HACKETT RIVER, PREMIERE RIDGE, ONAPING DEPTH, FRASER MORGAN, NICKEL RIM SOUTH, ONAPING DEPTH, PERSEVERANCE et PD1 au Canada, LOMAS BAYAS II au Chili, KONIAMBO en Nouvelle-Caledonie et TAMPAKAN aux Philippines et ses principaux projets en exploration sont 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 et MONTCALM TWP PROP au Canada, BLACK ROCK, TOBY CREEK, MUSGRAVE, MOUNT PEAKE et SINCLAIR en Australie, ELMALAAN en Turquie, MANGABAL au Bresil, KABANGA en Tanzanie, FRIEDA - NENA DEPOSIT en Papouasie-Nouvelle-Guinee, PALLAS GREEN en Irlande et DIKOLOTI au Botswana. Xstrata est cotée au Royaume-Uni et en Allemagne. Sa capitalisation boursière aujourd'hui est 2 893,1 milliards GBX (4 497,6 milliards US$, 3 435,7 milliards €). La valeur de son action a atteint son plus bas niveau récent le 30 avril 2013 à 963,50 GBX, et son plus haut niveau récent le 02 mai 2013 à 999,70 GBX. Xstrata possède 3 002 692 076 actions en circulation. |
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