GREY:TUDMF - Post by User
Post by
phoenix_traderon Mar 16, 2015 7:52pm
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Post# 23527795
Teck says Duck Pond closes in July
Teck says Duck Pond closes in JulyPresumably the mill and mining equipment will be available. "Duck Pond We own 100% of the Duck Pond underground copper-zinc mine located in central Newfoundland and Labrador. Duck Pond’s gross profit before depreciation and amortization was $16 million in 2014 compared to $19 million in 2013 and $42 million in 2012. Gross profit declined in 2014, primarily due to lower copper prices. Copper production of 14,200 tonnes in 2014 was similar to the 2013 production of 14,000 tonnes. Weather-related disruptions in the first quarter were offset by increased ore availability and improved plant performance as the year progressed. Zinc production was 16,200 tonnes, compared with 12,700 tonnes of zinc production in 2013, as a result of improved grades. Ore reserves are expected to be exhausted in the first half of 2015, and the mine will be permanently closed in July 2015. Duck Pond’s production in 2015 is expected to be approximately 6,500 tonnes of copper and approximately 6,000 tonnes of zinc."