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Xstrata Nickel Press Release: Xstrata Nickel invests $5 million inc Centre for Excellence in Mining Innovation "CEMI" at Laurentian University

Sudbury, 18 December 2006

Xstrata Nickel announced today that it has invested $5 million in the Centre for Excellence in Mining Innovation (CEMI) at Laurentian University. Established in partnership with government and industry, CEMI will become an international centre for world-class, industry-driven research and innovation for the mining sector.

“Xstrata Nickel is a company focused on value-creating growth in Sudbury and around the world,” said Mike Romaniuk, Vice-President, Sudbury Operations for Xstrata Nickel. “Advanced research and innovation at CEMI will enhance our competitiveness in Sudbury and at our projects and operations globally. We believe this unique institution will become a competitive advantage to our company and to the Sudbury community. We are proud to support CEMI and look forward to working with all the partners involved in this important initiative.”

Dr. Judith Woodsworth, President of Laurentian University and Chair of CEMI’s founding advisory board, was grateful to Xstrata Nickel for its generous contribution. “In 2004, Laurentian clearly and publicly expressed, through its vision, its intention to become a national leader in mining and exploration research,” she said. “Through its generous contribution, Xstrata Nickel is clearly establishing itself as a premier contributor to mining and exploration education and research, in our city and internationally.”

Sudbury and Laurentian University were chosen as the preferred location for CEMI by the Ontario Mineral Industry Cluster Council (OMICC), under the leadership of the Honourable Rick Bartolucci, Minister of Northern Development and Mines. The region’s considerable mining knowledge and expertise, as well as Laurentian University’s acknowledged leadership in mining-related graduate programs and research were key factors in designating Sudbury as the obvious location for CEMI. The Centre, whose research priorities were developed in collaboration with industry, will focus on mining exploration, deep mining research, integrated mine process engineering, telerobotics and automation, and environment and reclamation.
“From the beginning, the McGuinty Government has not only supported this exciting and essential initiative, but has also committed $10 million to make it a reality,” said Rick Bartolucci, Minister of Northern Development and Mines. “The Sudbury basin has been supplying nickel to the world for more than a century. This city has always been a pioneer and will continuously strive, with CEMI, to be a mining industry front-runner and a world-class mining and exploration research centre.”

For more information on CEMI, please consult the attached backgrounder.

Xstrata

Xstrata is a major global diversified mining group, listed on the London and Swiss stock exchanges. Headquartered in Zug, Switzerland, Xstrata maintains a meaningful position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with a smaller but profitable aluminum business, recycling facilities, additional exposures to gold, lead and silver and a suite of global technologies, many of which are industry leaders. The Group's operations and projects span 18 countries: Argentina, Australia, Brazil, Canada, Chile, Colombia, the Dominican Republic, Germany, Jamaica, New Caledonia, Norway, Papua New Guinea, Peru, South Africa, Spain, Tanzania, the USA and the UK.

Xstrata Nickel is headquartered in Toronto, Canada, and is one of the commodity business units within the major global diversified mining group Xstrata plc.

Xstrata Nickel’s mining operations include five mines and processing facilities in Ontario, Canada; Quebec, Canada; a ferronickel mine and processing facility in Bonao, Dominican Republic; and a refinery in Kristiansand, Norway. Xstrata Nickel has a promising portfolio of growth projects, including Nickel Rim South in Canada, Kabanga in Tanzania, and Koniambo in New Caledonia.

Xstrata Nickel is the fourth largest global nickel producer, with annual managed production of more than 110,000 tonnes of refined nickel.

Laurentian University

With more than 9,000 full-time and part-time students, Laurentian University is a mirror of Canada itself. One of only two bilingual universities in the country, we have a significant Native Student population and a growing number of international students. The Northern Ontario School of Medicine, Canada’s first new medical school in more than 30 years, launched in collaboration with Lakehead University in Thunder Bay, welcomed its charter class in 2005.

Laurentian is growing beyond the primarily undergraduate institution it once was, having added six new doctoral programs over the past three years. Additionally, the University’s research capacity continues to grow annually, averaging $15 million a year over the past few years. Recently, Laurentian launched the Centre for Excellence in Mining Innovation (CEMI) in collaboration with government and industry. The University also announced plans for a Living with Lakes Centre, which will be the first institutional building in Canada to achieve the Platinum Leadership in Energy and Environmental Design (LEED) certification, the highest in the country.

Laurentian includes three federated universities: Huntington University, Thorneloe University and University of Sudbury. We also have two affiliated colleges: Collège universitaire de Hearst and Algoma University College. A unique partnership with Georgian College enables students to complete a three-year degree at the Barrie or Orillia campuses, with the option of a fourth year at Laurentian in Sudbury.

Today, the University counts 35,000 alumni. Strong in its bilingual and tricultural traditions and with deep roots in northern Ontario, Laurentian University continues to expand its program offerings, research activities and partnerships in Canada and abroad.

Reference:

Dominique Dionne
Vice-President
Corporate Affairs
Xstrata Nickel
Toronto (Ontario)
(416) 982-7294
ddionne@xstratanickel.ca
www.xstrata.ca

Michel Béchard
Director
Public Affairs
Laurentian University
Sudbury (Ontario)
(705) 675-1151, ext. 3408
mbechard@laurentian.ca
www.laurentian.ca

* * *

Backgrounder

Centre for Excellence in Mining Innovation (CEMI)
CEMI is a new mineral sector research entity in Northern Ontario, led jointly by industry and Laurentian University in collaboration with regional, national and international R&D partners. CEMI is moving forward to becoming a not-for-profit corporation, anchored on the Laurentian University campus in Sudbury. (www.cemi.laurentian.ca)

Ontario Mineral Industry Cluster Council (OMICC)
CEMI was conceived by the Ontario Mineral Industry Cluster Council (OMICC), which leverages mineral industry assets to create a large and more globally competitive cluster of mineral and related industrial organizations. The council brings together key stakeholders from a wide variety of interests, including Ontario’s exploration and mining industry, mine supply and service providers, government, labour; sector organizations, Aboriginal groups, environmental groups and mining communities.

Vision
OMICC’s vision for CEMI is to become an international centre for world-class, industry-driven research and innovation, advancing state-of-the-art concepts, processes and methodologies in support of the regional, national and international exploration and mining industries, and providers of mining services and supplies.

Mission
In pursuit of this vision, CEMI will develop new research, education, training and technology transfer capacity, which will:

add value to mining operations in Northern Ontario and beyond;
strengthen Sudbury’s capability to undertake world class, collaborative and industry-driven research;
add new research skills to networks of expertise that exist locally, nationally and internationally; and
develop highly qualified persons for the mineral sector in emerging fields of study.

CEMI’s five key research priorities:

exploration
deep mining
integrated mine process engineering
telerobotics and automation
environment and reclamation

CEMI at Laurentian University
Laurentian University is a leader in mining education and research across Canada. The University is already home to eight mining research centres, and seven mining-related graduate programs at the Master’s and PhD levels, as well as six Canada Research Chairs, three of which have links to exploration and mining research.

Funding Updates
The Ontario government committed $10 million to CEMI in its 2006-2007 budget. In March 2006, Inco Limited announced an investment of $5 million in-cash and in-kind contributions to CEMI. In December 2006, Xstrata announced a $5 million in-cash investment. The City of Greater Sudbury has committed $50,000 over three years to CEMI.

CEMI Interim Advisory Board – Membership
Dale Andres General Manager, Underground Operations, Teck Cominco Ltd
Sylvia Barnard President, Cambrian College
Ron Chrysler Vice President Finance and Administration (retired) Laurentian University
Mark Cutifani Chief Operating Officer, CVRD Inco
Harley d’Entremont Vice-President Academic, Laurentian University (Francophone Affairs)
Jonathan Fowler Vice-President, Aboriginal & Environmental Affairs DeBeers Canada
John Gammon Former Director of Mining Initiatives, Laurentian University
Leo Gerard International President, United Steelworkers of America
Suzanne Herbert Deputy Minister, Ministry of Northern Development & Mines
Chris Hodgson President, Ontario Mining Association
Irwin J. Itzkovitch Assistant Deputy Minister, Earth Sciences Sector (retired), Natural Resources Canada
Christine Kaszycki Assistant Deputy Minister, Mines & Minerals Division Ministry of Northern Development & Mines
Terry MacGibbon President & CEO, FNX Mining Company Inc.
Doug Morrison Senior Consultant, Golder Associates Ltd, and MIRARCO Board Member
Allan Moss Management Committee Member CAMIRO & Principal Consultant Manager Rio Tinto
Gary Nash Assistant Deputy Minister, Minerals and Metals Sector Natural Resources Canada
Louise Paquette Director General, FedNor / Industry Canada
John Rodriguez Mayor, City of Greater Sudbury
Mike Romaniuk Vice President, Sudbury Operations, Xstrata Nickel
Nick Sheard Vice President Exploration, CVRD Inco
Jean-Marc Valade President, SAMSSA
Liette Vasseur Associate Vice-President, Research, Laurentian University
Deming Whitman Chief Executive Officer, AMIRA International
Judith Woodsworth President, Laurentian University, Chair, CEMI Interim Advisory Board

For more information, please contact Jeff Sewell, Project Manager at (705) 675-1151, ext. 1325 or via email at jsewell@laurentian.ca.

(updated December 15, 2006)