October 21, 2014 11:59 AM ET

Metals and Mining

Company Overview of Glencore Canada Corporation

Company Overview

Xstrata Canada Corporation engages in the exploration, development, mining, processing, and marketing of metals and minerals worldwide. The company’s primary products include copper, nickel, zinc, and aluminum, as well as its by-products and co-products consist of silver, gold, platinum group metals, lead, selenium, tellurium, cadmium, indium, cobalt, nickel sulphate, and sulphuric acid. Xstrata Canada Corporation also engages in the recycling of secondary copper, nickel, and precious metals. Its properties include the Brunswick mine located in New Brunswick; the Raglan property located in the Province of Quebec; Sudbury Mines/Mill that operates three underground nickel/copper mines in the S...

100 King Street West

Suite 6900

Toronto, ON M5X 1E3

Canada

Founded in 1922

80,000 Employees

Phone:

416-775-1500

Fax:

416-775-1744

Key Executives for Glencore Canada Corporation

Vice President of Finance and Controller
President of Noranda Aluminum Inc
President of South American Copper
Operating Division President of Zinc
Age: 60
President of Canadian Copper & Recycling
Compensation as of Fiscal Year 2014.

Glencore Canada Corporation Key Developments

El Nino Ventures Inc. Provides an Update on its Bathurst Joint Venture Project

El Nino Ventures Inc. provided an update on its Bathurst Joint Venture Project. The Joint Venture is a 50%:50% joint venture between ELN and Glencore Canada Corporation (GCC) in the prolific Bathurst Mining Camp of New Brunswick, Canada. The Joint Venture seeks a 3(rd) party partner to explore and develop its properties and, in addition, properties in the Bathurst Camp owned 100% by GCC. In return for funding 100% of a major, multi-year exploration budget, the partner would earn-in to a 50% equity position in the Joint Venture and the GCC 100% owned land. Expressions of Interest will be evaluated from credible and well-funded companies with experienced management and exploration teams, and preferably with experience in the Bathurst camp or other VMS camps elsewhere. A Partnership would provide low-risk access to exploration upside in a highly prospective base metal VMS mining camp, in the safe and secure mining jurisdiction of New Brunswick. The Joint Venture consists of 21 claims (1441 Claim Units) covering 29,830 hectares and owned 50%:50% by ELN and GCC in the prolific Bathurst Mining Camp. The GCC 100% owned land consists of 18 claims (631 claim units) covering approximately 13,560 hectares. The claims collectively overlie seven zinc-lead sulphide mineralized occurrences, all of which remain open to exploration. In addition, the joint venture recently received the results of a airborne gravity survey by Fugro GeoServices Ltd. and a proprietary computer-aided (CARDS) targeting program conducted by DIAGNOS Inc.

Xstrata Canada Corporation has Changed its Name to Glencore Canada Corporation

On July 30, 2013, Xstrata Canada Corporation changed its name to Glencore Canada Corporation.

Xstrata Zinc Plans to Increase Ore Production at Lady Loretta Mine in North-West Queensland

Xstrata Zinc announced plans to increase ore production by a further 33% to 1.6 million tonnes per annum at its high-grade Lady Loretta mine in north-west Queensland, Australia. The greenfield underground zinc-lead-silver Lady Loretta mine commenced ore production ahead of schedule in September. Commercial-scale mining is due to commence in mid-2013 and the expanded production rate of 1.6 million tonne per annum level is expected by 2016. Lady Loretta was originally designed to produce one million tonnes of ore per annum, but Xstrata Zinc's project teams have continued to assess opportunities to increase maximum output. An internal study identified an opportunity to increase the maximum output of the Lady Loretta mine by reviewing stoping sequences over the life of mine, the second project announced this year to accelerate production. This latest expansion increases maximum output by 60% over the original mine plan through a AUD 59.2 million (USD 60.4 million) project and brings the total investment to develop the mine to date to AUD 362.2 million (USD 356.4 million). The Lady Loretta deposit contains an estimated 12.7 million tonne reserve, consisting of a 14.2% zinc and 4.8% lead grade, alongside 84 grams of silver per tonne. The amount of zinc metal contained is assessed at 1,803kt and lead metal contained at 610kt.

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