Page 14 By Gregory Reynolds and mining companies in the world is a keystone of the Sudbury regional economy people in Sudbury It has six mines City of Greater Sudbury making its nickel site one of the lar gest integrat ed mining operations in the world In the second quarter of 2014 produc tion of nickel was 61700 t 86 low er than in the previous quarter mainly tenance work carried out on the acid plant and furnaces in Sudbury During this year s scheduled mainte nance at some surface facilities the Sudbury mines which are the bottle neck in the Sudbury system did not stop producing building up inventory of ore and concentrates to be smelted year output is naturally expected for the 2H14 compensating the planned low er production tons for nickel and 18 Mt for coal duce nickel in Canada The sites it operates have been serving Canadians and the people around world for more than 100 years and going forward the future for nickel looks bright Adjusted earnings before interest tax depreciation and amortization EBIT was af fected by a more challenging price environment and by adjustments in prices of iron ore sales from the fourth quarter of last year 4Q13 in relation to the 1Q14 price This happens when the price of iron ore which is estimated at the time of sale ends up being dif f erent from the price realized when the ship ef fective ly arrives at the client The base metals segment produced a very healthy EBITDA reaching driven by the record production of nickel at Onca Puma in Para and at performance from Salobo I W e were very pleased with base generation and we expect even bet ter results for the second quarter with a recovery in nickel prices stated Luciano Siani executive director for year for us to consolidate our cost deliver productivity improvements and grow our production volume with the completion of seven new projects tos Conceicao Itabiritos II T eluk Ru and Salobo II Overall we remain strongly commit ted to investing only in worldclass assets and will continue to manage our asset portfolio to maximize share holder value Our commitment is to streamline our business to generate scenario ducer of nickel one of the most ver satile metals in existence Hard and malleable nickel resists corrosion and maintains its mechani cal and physical properties even when subjected to extreme temperatures Its highquality nickel is also valued for its applications in plating and batteries It gives bathroom taps and shower heads their bright metallic phone and the rechar geable batteries that power it while youre sending a text checking email and staying in touch cess to the individual communities that make up the lar ger whole Strong communities strengthen our business strong relationships with the com munities were part of W e seek out partnerships that will 1 Support initiatives that bolster the health environmental and education al capacity in our communities 2 Enhance national provincial and regional programming 3 Create a community of engaged civicminded employees and friends 4 Build the infrastructure that a com munity needs to reach its potential lions of dollars in Canadian or ganiza tions of iron ore and iron ore pellets key Contd on pg 16 SUDBUR Y MINING REPOR T 2014 V a le believes nickel futur e bright as pr oduction soars