Descripción
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Madrid and Vancouver, 14 July 2008 – Teck Cominco Limited (TSX: TCK.A and TCK.B, NYSE:TCK) and Xstrata Zinc today announce the closure of the joint venture Lennard Shelf Pillara mine in Western Australia. Operations are expected to cease by early August.
The Pillara mine has become uneconomic, primarily due to the sharp decline in zinc and lead prices compounded by the appreciation in the Australian dollar. Higher energy and labour costs and lower than planned production have also contributed to rendering the project uneconomic. The decision to start Lennard Shelf was made in 2006 and production commenced in early 2007. In the period to 31 December 2007, the operation produced 42,100 tonnes of zinc metal and 12,400 tonnes of lead metal.
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