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Noranda Income Fund (TSX:NIF.UN) (the “Fund”) provides an update to the market on the work towards returning to normal operating capacity following the ratification of the new collective agreement on December 1, 2017. As quoted in the press release: All active unionized employees returned to work at the processing facility in December 2017. As of …
Noranda Income Fund (TSX:NIF.UN) (the “Fund”) provides an update to the market on the work towards returning to normal operating capacity following the ratification of the new collective agreement on December 1, 2017.
As quoted in the press release:
All active unionized employees returned to work at the processing facility in December 2017. As of the end of December, all equipment that had been idled since February 2017 has been restarted. By the end of January 2018, the Fund’s Manager expects to have completed the ramp up of the processing facility’s operation to normal operating capacity.
Once the processing facility has achieved its normal operating rate, and assuming full supply of zinc concentrate, the Fund should be able to produce between 250,000 and 260,000 tonnes of zinc from the treatment of concentrate feeds as well as processing the 20,000 tonnes of Glencore Canada-owned cathode in 2018. As disclosed in November 2017, the Fund sold 20,000 tonnes of zinc cathode to Glencore Canada. It is expected that this material will be tolled by the processing facility. In exchange, the Fund will receive a tolling fee.
