NEWS ROUNDUP — Cambior acquires Grevet project

The Grevet zinc project in northwestern Quebec is now wholly owned by Cambior (TM/CBJ)

The Val d’Or, Que.-based company has acquired Serem-Quebec’s 50% interest in Grevet, as well as the interests of Serem in other claims and mining titles. (Cambior had already owned a half interest in Grevet through wholly owned subsidiary VSM Exploration.)

In return, Serem, a French-controlled company, received 407,260 shares (worth $7 million) of Cambior.

Cambior expects to present a feasibility study for Grevet during the second quarter of 1994 and, if the study is approved, to have the project in production by the third quarter of 1995.