Glencore – Page 53 – Republic of Mining

Year In Review – Sudbury’s Economy: Boom to Bust? – by Bill Bradley

November 3, 2015January 1, 2009

Northern Life, Greater Sudbury’s community newspaper, gave Republic of Mining.com permission to post Bill Bradley’s article. www.northernlife.ca

Greater Sudbury’s economy went from boom town status in 2008 to layoffs and growing fear in the community. Mining executives like Xstrata’s Mike Romaniuk, and Vale Inco’s Fred Stanford had been bullish on the future. “The world simply can’t get enough nickel,” said Stanford Feb. 6th at a Chamber of Commerce luncheon.

But by the early fall, a stock market crash started a series of layoffs in local mining companies and service and supply companies. Retired miner, Laurie Chartrand, 63, from Chelmsford, said he was down $25,000 from the stock market crash and knew some who had lost $200,000. He had a novel idea.

“We need the government to start a voucher system for those who have lost money like myself so we would have the ability to buy the cars that use our metals,” said Chartrand.

Xstrata Copper Announces $121 Million New Investment in the Timmins Kidd Mine

May 15, 2010August 13, 2008

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario Mining Association member Xstrata Copper has announced a new $121 million investment to deepen and extend the projected operating life of the Kidd Mine in Timmins. This investment will not only have a positive impact on the company´s future but also on the fortunes of its employees, suppliers and contactors, Timmins, Northern Ontario and the economy of the entire province.

The Kidd Mine is the deepest base metal mine in the world. This new project will expand the copper-zinc orebody´s mining zone from 9,100 feet below surface to 9,500 feet and extend the mine life to 2017. This zone is estimated to contain 3.4 million tonnes of ore with a grade of 1.48% copper, 6.22% zinc and 80 grams of silver per tonne.

“The investment approval reflects Xstrata Copper´s commitment to the sustainability of Kidd Mine and the Timmins community and its business strategy to continually implement improvements to enhance the value of its operations,” said Claude Ferron, Chief Operating Officer for Xstrata Copper Canada.

China Demand Keeps Xstrata Business in Sudbury Booming – by Bill Bradley

December 9, 2010August 7, 2008

Northern Life, Greater Sudbury’s community newspaper, gave Republic of Mining.com permission to post Bill Bradley’s article. www.northernlife.ca

Demand for nickel is booming and will continue to do so well into the future, said Mike Romaniuk, vice-president Ontario Operations, Xstrata Nickel. He was a speaker at a luncheon for the Rotary Club earlier this week at the Howard Johnson on Brady Street.

Close to $400 million is expected to be invested in Sudbury operations. In 2007, 300 workers were hired and another 400 are expected to join the company this year, said Romaniuk.

Why the good times?

In China, they are building the equivalent of a Greater Toronto Area city every year, he said.

“I was there three years ago and saw a sign in the dirt saying a new city of 15 million to be built at this site within three years. They did it. Cities like that require a lot of nickel in their infrastructure and consumer products. That’s why we are prospering,” said Romaniuk.