Attention Business Editors:
Tentative labour agreement reached at Northgate's Kemess mine
TSX NGX
AMEX NXG
VANCOUVER, March 17 /CNW/ - Northgate Minerals Corporation (TSX: NGX,
AMEX: NXG) reported today that it has reached a tentative three-year
collective agreement (the "Agreement") with the International Union of
Operating Engineers Local 115 (the "Union"), representing the 300 production
and maintenance employees at its Kemess South mine. The terms of the tentative
Agreement were accepted by both the Union's bargaining committee and Northgate
following a recommendation made by a government appointed mediator. The
Union's bargaining committee has unanimously recommended ratification of the
Agreement to its membership who will vote on the Agreement over the next three
weeks. All operations at Kemess South continue to run normally, with no
disruption to scheduled production.
NORTHGATE MINERALS CORPORATION is a mid-tier gold and copper producer
with mining operations, development projects and exploration properties in
Canada and Australia. The company is forecasting over 400,000 ounces of
unhedged gold production in 2008 and is targeting growth through further
acquisitions in stable mining jurisdictions around the world. Northgate is
listed on the Toronto Stock Exchange under the symbol NGX and on the American
Stock Exchange under the symbol NXG.
FORWARD-LOOKING STATEMENTS:
This news release contains certain "forward-looking statements" and
"forward-looking information" as defined under applicable Canadian and U.S.
securities laws. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "believe," or "continue" or the negative thereof or
variations thereon or similar terminology. Forward-looking statements are
necessarily based on a number of estimates and assumptions that are inherently
subject to significant business, economic and competitive uncertainties and
contingencies. Certain of the statements made herein by Northgate Minerals
Corporation ("Northgate") including those related to future financial and
operating performance and those related to Northgate's future exploration and
development activities, are forward-looking and subject to important risk
factors and uncertainties, many of which are beyond the Corporation's ability
to control or predict. Known and unknown factors could cause actual results to
differ materially from those projected in the forward-looking statements. Such
factors include, among others: gold price volatility; fluctuations in foreign
exchange rates and interest rates; impact of any hedging activities;
discrepancies between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; costs of production, capital expenditures, costs and
timing of construction and the development of new deposits; and, success of
exploration activities and permitting time lines. In addition, the factors
described or referred to in the section entitled "Risk Factors" of Northgate's
Annual Information Form (AIF) for the year ended December 31, 2006 or under
the heading "Risks and Uncertainties" of Northgate's 2006 Annual Report, both
of which are available on SEDAR at www.sedar.com, should be reviewed in
conjunction with this document. Accordingly, readers should not place undue
reliance on forward-looking statements. The Corporation does not undertake any
obligation to update publicly or release any revisions to forward-looking
statements to reflect events or circumstances after the date of this document
or to reflect the occurrence of unanticipated events, except in each case as
required by law.
For further information: Ms. Keren R. Yun, Investor Relations, Tel: (416)
216-2781, Email: ngx@northgateminerals.com, Website:
www.northgateminerals.com
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PRODUCTEUR |
CODE : NGX.TO |
ISIN : CA6664161024. |
CUSIP : 666416102 |
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Northgate Minerals est une société de production minière d'or et de cuivre basée au Canada. Northgate Minerals est en développement de projets d'or, de cuivre et d'argent au Canada, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont STAWELL MINE et FOSTERVILLE MINE en Australie et KEMESS SOUTH au Canada, son principal projet en développement est YOUNG - DAVIDSON au Canada et ses principaux projets en exploration sont BOULEVARD, KEMESS UNDERGROUND, MATACHEWAN MINE et AWAKENING GOLD au Canada. Northgate Minerals est cotée au Canada. Sa capitalisation boursière aujourd'hui est 176,0 millions (173,2 millions US$, 122,3 millions €). La valeur de son action a atteint son plus bas niveau récent le 28 janvier 2000 à 0,60 , et son plus haut niveau récent le 12 mai 2006 à 5,29 . Northgate Minerals possède 47 442 200 actions en circulation. |