Published 22 October 2012
Precious metals producer North American Palladium (NAP) will continue expansion of its flagship Lac des Iles mine (LDI) in Ontario, Canada.
The company will invest $116m to execute the development activities that include - commissioning the service hoist, auxiliary hoist and related power systems.
The company has commenced mining of the first Offset Zone stope, while the shaft sinking is currently in progress.
NAP has now completed surface construction at the mine site with shaft commissioning expected to begin by December 2012.
Meanwhile stope development, critical to achieving the 2015 annual production rate of 250,000oz of palladium, remains on schedule.
NAP vice president and chief operating officer Greg Struble commented, "With the significant development milestones accomplished to date, we have considerably reduced the risk of the project and remain confident in our ability to achieve the long-term production plan."
The LDI mine produced 37,908oz of palladium in the third quarter of 2012 and is expected to produce 150,000 to 160,000oz of palladium by December for the entire year.
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