Low metal prices and high inventories force temporary closure
Noranda Inc. announced plans to idle production at its Bell Allard underground zinc mine for one month, starting June 29. The company cited low prices andd high inventories on the world market as reasons for the temporary closure.
"Market conditions for zinc have not improved as quickly as we had expected therefore we needed to take action toward reducing our overall output and to realize as much potential from the remaining ore reserves", stated George Jones, senior vice president, Zinc for Noranda. "While the closure is for a one-month period only, production at the CEZinc refinery in Valleyfield will not be impacted."
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