Teck Cominco (TCK. B-T, TCK-N) and Xstrata (XSRAF-O, XTA-L) are closing the Lennard Shelf Pillara zinc-lead mine in Western Australia, because it is no longer economic.
The mine, owned by the two companies on a 50-50 basis, employs 300 people and was to be shut down in early August. The decision was based on a sharp drop in zinc and lead prices, the strengthening of the Australian dollar, high energy and labour costs, and production volumes that were lower than planned.
The past-producing mine reopened in early 2007 with an anticipated life of three to four years. Last year, the mine produced 42,100 tonnes zinc and 12,400 tonnes lead.
Be the first to comment on "Teck and Xstrata close Lennard Shelf mine"