On June 29, our company announced an investment of $150 million to extend current mining activities for our operations in Thompson, MB by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
This announcement was for Phase 1 of the Thompson Mine Expansion (which includes two phases). Phase 1 will see critical infrastructure put in place such as new ventilation raises and fans, increased backfill capacity and additional power distribution.
Combined, the projected investment for Phase 1 and Phase 2 is more than $1 billion.
Attending in person from Toronto and Sudbury were Mark Travers, executive vice president, Base Metals, Dino Otranto, chief operating officer, North Atlantic Base Metals, Patrick Boitumelo, head, Mining & Milling, North Atlantic Operations, Base Metals and Gary Annett, general manager, Manitoba Operations.
During Gary’s speech he said, “Today’s announcement fills me with confidence that there will be employees mining the ore beneath our feet and contributing to this community for decades to come.”
Also in attendance was Stacy Kennedy, manager, Thompson Mine, who spoke with the passion of someone who has grown very attached to her community and the company over the last 15 years that she’s been in Thompson: “I was here through all of the announcements, through the closures, and the stops and starts. I participated in toll-gates designed to revisit and reshape our mine expansion plans to get them across the finish line. And I participated in the restructuring of our operations and our workforce last fall. Like our operations and our community, I am still standing and proud to be here today to participate in an announcement with such promise for our collective future.”
Stacy went on to say, “Together, we will develop the Thompson Mine Expansion in a manner that unlocks its full potential and makes a decision to proceed to Phase 2 an easy one.”
The changes made during Phase 1 are forecasted to improve current production by 30 per cent while serving to further enable Phase 2, which will involve expansion into adjacent orebodies.
Our company is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“Today’s announced investment is an indicator of our confidence in that future,” said Dino. “Credit goes to the design team, technical services and our entire Thompson workforce for contributing to a safe, efficient and fit-for-purpose plan that will enable us to safely extract the Thompson nickel resources for many years to come.”
Stay tuned for more!5