Teck mine closure may spark trend
Dec 15, 2008 | 01:26 PM
| Mick Bowen
Teck Cominco Ltd.'s announcement Monday that it will temporarily stop operations at a mine and mill complex in Washington state will likely spark a spate of production cuts over the next 12 to 18 months, analysts told AMM.
The Vancouver, British Columbia-based miner said that low demand and low prices were compelling it to put the Pend Oreille Mine near Metaline Falls, Wash., on care and maintenance in two months' time following a recent decision to cut refined zinc production by 20 percent at Teck's Trail operations, the primary customer for the Pend Oreille concentrates.
"The temporary shutdown of the Pend Oreille Mine is a difficult decision, but we must act prudently to balance production with declining zinc demand," Michael Agg, senior vice president of zinc, said in a statement.....
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