Super B - Target Motors
Current Weather
-2.2°C Showers NW 17 km/h
gust 31 km/h

Full Forecast
Tbnewswatch Local News
Friday October 31 2014
4:23 AM EDT
Sky - City - Fire #4
Sign/TB Health Unit -Report
Sign. Minute Muffler
Signature Ad
Skyscraper
2010-04-14 at 15:51

Lac Des Iles opens again

AD
ROCK 94Your Rock Station, Always has…Always will be! Click Here!
By tbnewswatch.com

After being shut down for more than a year, the Lac Des Iles palladium mine is now back in production.

The operation, located about an hour north of Thunder Bay, has 180 people back on the payroll.

The mine closed in October 2008 because of low palladium prices. That price is now back up to $520 an ounce and officials with North American Palladium say the restart is well-timed to capitalize on the increase. Underground mining actually resumed about three weeks ago but company president William Biggar said they held off on the announcement until now as production of palladium concentrate just started Wednesday.

Palladium is used in mufflers for motor vehicles. Biggar said the operation plans to produce 140,000 ounces this year to feed growing demand in China and other developing countries.

Steelworkers Union president Herb Daniher said although he's pleased to see the mine reopen, he's not happy with the rehiring process. He said the company did not call back a large percentage of former Lac Des Iles workers and instead had an open hiring to rebuild the workforce.

The mine has an estimated lifespan of about 12 years.

Tbnewswatch.com(0)

Banner/Vector Construction

Comments

We've improved our comment system.
Comments for this story are semi-moderated. Read our comment guideline.

Add a new comment.
You must log in to add comments.
Create a new account
Log In
 
 
Big Box
BB/Bukovy Financial Services

Events