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Revett investing $12M in new mine route at Troy project

Keywords: Tags  Revett Minerals, copper, silver, Troy Mine, John Shanahan, Thorsten Schier

NEW YORK — Revett Minerals Inc. is investing $12 million to get its copper-silver Troy Mine in northwestern Montana back into production after deciding to forge a new route through a previously unmined area to regain access to a key mining zone.

The Spokane Valley, Wash.-based company temporarily halted mining activities at Troy during the fourth quarter of last year (, March 11) and later suspended other operations and cut the work force at the mine due to unsafe ground conditions (, May 23), which the new route is designed to avoid.

"Although our expectation to return to production this quarter will not happen, our valuable infrastructure remains intact and we remain confident the Troy Mine can safely resume operations," Revett president and chief executive officer John Shanahan said.

The mine’s underground crusher, conveyor system and surface mill will remain on care and maintenance until production resumes, the company said.

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