Xstrata sets closure of Kidd smelters

Dec 08, 2009 | 11:28 AM |

Xstrata Plc will close its Kidd copper and zinc smelters in Ontario next year, incurring an estimated $375 million in cost and impairment charges.

Copper smelting and refining was put on hold at Kidd Creek at the end of August due to a shortage of concentrates. The smelters will be closed permanently May 1, Xstrata said.

Xstrata is restructuring its Canadian operations in the face of "global smelting overcapacity, record low treatment and refining charges (TC/RCs), increasing operating and capital costs to run and maintain these facilities and lower demand and sale prices for sulfuric acid," it said.....

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