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With reserves dwindling at its existing operations, Glencore has staked $1.3 billion on a new mine that will reach more than two kilometres — picture four CN Towers — below the surface.
“We’ve been mining around Sudbury for a long time now,” vice-president Peter Xavier told a Greater Sudbury Chamber of Commerce audience Thursday, as keynote speaker for the group’s AGM. “That means a lot of near-to-surface, easy-to-find deposits are long gone, so the future is very much at depth.”