http://www.northernontariobusiness.com/
Sudbury’s next great base metals mine is “advancing,” but at a “reduced pace.” That’s the word coming from Polish mining giant KGHM International on its Victoria Mine project, lauded by many in the Sudbury camp as the next great nickel and base metals mine.
After some layoffs in March, the company issued an April 29 news release with a reassuring tone amid ongoing rumours in the community that the company might be mothballing the project.
“Although the anticipated date of commencement of construction of Victoria has been delayed, this does not impact other necessary and essential activities at Victoria,” said the release. “Development activities will continue to progress to ensure that the project is ready to commence construction when the market conditions for base metals improve.”
No new timelines were given nor any details on what activities will or won’t take place this year. A spokesperson for KGHM in their Vancouver office was not available to comment further.
As it was shedding 20 workers at the site last March, KGHM said it was revising the project schedule of the Victoria, a rich nickel-copper-PGE-gold development project at Worthington, west of Sudbury.
Two years ago, KGHM said Victoria would be reopened in 2019, but the company is blaming metal prices for the slow-down in development. The Victoria deposit contains 14.5 million inferred tonnes with a grade of 2.5 per cent copper, 2.5 per cent nickel and 7.6 grams per tonne of precious metals.
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