Timmins, 15 December 2011
Xstrata Copper announces the completion of a CA$120 million (US$111 million) extension to the Kidd Mine in Northern Ontario, Canada on time and on budget.
Approved by Xstrata in 2008, the extension to the mining zone at Mine D from 9,100 feet to 9,600 feet will extend operations by at least two years to the first half of 2018. Further extensions to the mine life have been identified through the ‘2020 Vision’ programme to elicit suggestions from employees on how to maximise the value of the operation. The programme, launched in February 2011, has already resulted in significant cost savings and an additional 700,000 tonnes of ore reserves being identified with the objective of extending operations further to 2020.
“The continued development of the deepest base metal mine in the world is a challenge and reflects Xstrata Copper’s commitment to the sustainability of our Kidd operations and the Timmins community. I am pleased to congratulate the dedicated team of engineering and technical experts, project leaders, employees, contractors and suppliers who worked together to bring this project to fruition,” said Tom Semadeni, General Manager, Kidd Operations.
The latest Mine D expansion was the second stage of a project that has extended mining from 8,800 feet since 2007 for total investment of CA$148 million.
Ends
Xstrata Copper contacts
Emily Russell
Telephone +562 478 2204
Mobile +569 9443 3571
Email erussell@xstratacopper.com
Louis Philippe Gariepy
Telephone +1514-645-2311 ext. 2162
Email lgariepy@xstratacopper.ca
Notes to editors
ABOUT XSTRATA PLC
Xstrata is a 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 additional exposure to gold, cobalt, lead and silver. The Xstrata Group also comprises a growing platinum group metals business, iron ore projects, recycling facilities and a suite of global technology products, many of which are industry leaders. The Group's operations and projects span 20 countries.
ABOUT XSTRATA COPPER
Xstrata Copper is the fourth largest global copper producer with attributable mined production in 2010 of 913,500 tonnes of copper in cathodes and concentrates. The company is also one of the world’s largest producers of smelter and refined copper, including from third party materials.
Headquartered in Brisbane, Xstrata Copper is one of the commodity business units within the major global diversified mining group Xstrata plc. Its mining and metallurgical operations and development projects span eight countries: Argentina, Australia, Canada, Chile, Peru, the Philippines, Papua New Guinea and the USA. Its operations and projects are administered through a regional divisional management structure, which ensures that critical decisions are taken close to the related businesses. It also has a recycling business (Xstrata Recycling) with plants in the United States and offices in Canada and Asia.
ABOUT KIDD OPERATIONS
Located in Timmins, Ontario, the Kidd Operations consist of the Kidd Mine and Kidd Concentrator and are focused on developing and sustaining economic mining plans for the Kidd Creek ore body, which is currently mined through two separate shafts known as No. 2 and No. 4. The Kidd Mine produces an average of 50,000 tonnes of copper in concentrate per annum and is the world’s deepest base metal mine.
Xstrata Copper and its predecessors have been mining the Kidd Creek copper/zinc deposits since 1966. The Kidd Operations employ approximately 1,200 people, including contractors.