iceman Posted July 12, 2022 Report Share Posted July 12, 2022 Has been bought, plans to reopen but will take time. It is now official, Osisko Metals has taken another step to acquire the Murdochville Mine. Osisko Metals and Glencore Canada have come to an agreement so that the mining company will eventually own 100% of the mine site. Twenty years ago, the Murdochville mine ended its activities. Today, Osisko Metals announced that it finally intends to exercise the option to acquire the Gaspé Copper project. What this means is that the company has reached an agreement to purchase the mine. The complete purchase should be finalized at the end of September. This makes the management of Osisko Metals proud. “When we saw the 47 years, from the beginning to the end of the history of Mine Gaspé, we know that it had a positive impact on the Gaspé, explains the president and chief operating officer at Métaux Osisko, Jeff Hussey. And I'm very happy to be part of the team that wants a potential reopening of the mine. » But everything will not be done overnight, there is still a lot of work to do before the mine operates at 100% “We finish the documentation of an agreement, it is not in five years that there will be many benefits, confirmed Mr. Hussey. You have to do the drilling, the studies, have the permits, before you can start procuring equipment or hiring people for the mine. » And the purchase of the mine was largely due to the increase in the price of copper, which was very low when it closed in 2002. “Last year, the price of copper added to 4.85, which is enormously higher than, in time, when the mine closed, reports the president and chief operating officer at Osisko Metals. So now is the time to consider it and that's what we want to do and we're happy to announce the deal. » "When the mine closed, it wasn't because it lacked potential, it wasn't because it lacked reserves, it was because there wasn't, the price of copper was very low, so the price of copper added, explains the mayor of Murdochville, Délisca Ritchie-Roussy » The arrival of Osisko metals will help the city with its budgets. "It's going to take a little pressure off us, the city council, for the money, because you know we have about 45 million to put on infrastructure, water, aqueduct, sewers, says the mayor. We have a lot of money to put in, so at that point, it will help us. » With the documents signed, Osisko Metals says it wants to be completely transparent on this file. A meeting of the municipal council has even been planned in the company of company managers and citizens. https://cimtchau.ca/nouvelles/metaux-osisko-achetera-la-mine-de-murdochville/?fbclid=IwAR3A3frWxG3jIpKuRVGghwYjczt9sgBiZ3N9WZH0KZVbAOId-qTXp1of6LQ P Hardy, MrGutz and PLAYHARD 2 1 Quote Link to comment Share on other sites More sharing options...
zeusand Posted July 13, 2022 Report Share Posted July 13, 2022 The hotel copper will be busy! PLAYHARD 1 Quote Link to comment Share on other sites More sharing options...
smclelan Posted July 13, 2022 Report Share Posted July 13, 2022 9 hours ago, zeusand said: The hotel copper will be busy! Maybe the will update a room or two! LOL zeusand, PLAYHARD and MrGutz 1 2 Quote Link to comment Share on other sites More sharing options...
PISTON LAKE CRUISER Posted July 14, 2022 Report Share Posted July 14, 2022 13 hours ago, smclelan said: Maybe the will update a room or two! LOL They have already done that since our original stay there in 1996 LOL PLAYHARD 1 Quote Link to comment Share on other sites More sharing options...
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