The world's deepest copper and zinc mine is about to get even deeper, thanks to a commitment from Xstrata Copper to invest $121 million in Timmins' underground Kidd Mine.
The move will extend the zone at Mine D from 9,100 feet to 9,500 feet, providing an additional 3.4 million tonnes at a grade of 1.48 per cent copper, 6.22 per cent zinc, 0.28 per cent lead and 80 grams per tonne of silver.
This new investment will also allow for the mine life to be extended by one year, to 2017. A prior expansion of Mine D was completed in 2006, at a cost of $664 million, allowed for production areas to be established at 8,800 feet.
Nearly 75 full-time jobs will be added throughout the construction phase, which has already begun and is slated to be complete in 2010.
Timmins Mayor Tom Laughren hails the move as a benefit for the town at a time where strong mineral prices are helping to buoy its financial fortunes.
"I think it's great news, as it helps from a Timmins perspective to carry on the current mining boom, and from a processing perspective, to keep feeding the Kidd Metallurgical complex."
With the record depths seen at the mine and the expertise that will be required to push further, Laughren hopes it will help to focus Timmins on the international stage as a node for advanced mining knowledge.
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