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Bullboard - Stock Discussion Forum First Nickel Inc. FNKLF

"First Nickel Inc was incorporated as 2035666 Ontario Inc., under the laws of the Province of Ontario on November 12, 2003. The Company is a Canadian mining company focused on becoming a mid-tier base metal producer through the successful mining, exploration, development and acquisition of opportunities throughout North America."

GREY:FNKLF - Post Discussion

First Nickel Inc. > Ministry closes Lockerby Mine until No. 2 shaft fi
View:
Post by kirkland49 on Apr 23, 2012 5:50pm

Ministry closes Lockerby Mine until No. 2 shaft fi

Ministry closes Lockerby Mine until No. 2 shaft fixed

 

Posted 55 minutes ago
 

A Ministry of Labour inspector issued a stop-work order for First Nickel's Lockerby Mine on Monday after a random inspection showed there were problems with the No. 2 shaft.

About 100 production and maintenance workers, represented by Mine Mill Local 598/CAW, work at the mine. The day shift was sent home Monday and night shift was to be cancelled as well. Workers were to learn Tuesday if they were to report for work for day shift.

Richard Paquin, president of Mine Mill Local 598/CAW, said the No. 2 shaft is the access point for all areas underground at the mine formerly owned by Falconbridge (now Xstrata Nickel).

Labour ministry spokesman Matt Blajer said all mines in Ontario must have two access and egress points. With the No. 2 shaft out of operation at Lockerby, the mine had to cease production.

The ministry inspector was still on the site about 4:15 p.m. Monday, said Blajer. He could not say how long the mine would be closed or how long it would take to make repairs.

Paquin said members would be paid for any missed shifts.

Production has been under way in some areas of the mine since last year when unionized workers were recalled after First Nickel suspended operations three years ago because of low metals prices and weak demand.

Redpath Construction is currently working on the down ramp to the 7,200-foot level, said Paquin.

First Nickel acquired the rights to the nickel and copper mine in 2004, with the goal of bringing it back into production.

Falconbridge opened Lockerby mine in 1976 and operated it until September 2004. First Nickel announced earlier this year the mine was expected to be in full production by the end of the year.

The Toronto-based mining company was expecting to produce 6.3 million to 7.4 million pounds of nickel in 2012.

Comment by mcugly on Apr 23, 2012 7:04pm
Definitely not good news. Share price will probably drop tomorrow. Let's hope that any repairs can be done quickly.
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