Page 22 Contd on pg 24 KGHM moving right along in developing 2 new mines By Gregory Reynolds KGHM International Ltd is strength ening its presence in Canada through the development of two big mines one in Sudbury and the other in Brit ish Columbia bury is a great discovery and world class project in the Sudbury Basin The deposit containing ore rich in copper nickel and precious metals will be extracted as an under ground mine says the company KGHM International is the operator of the Ajax Project a proposed open pit mine expected to yield roughly 109 million pounds of copper and 99000 ounces of gold annually for approximately 20 years The mine is located at the historic AjaxAfton site southwest of Kamloops BC The site has seen a range of explo ration and extraction activity under T eck Resources and the Afton Oper ating Corp between 1989 and 1997 KGHM already operates two under ground copper nickel mines in Sud bury the Levack Morrison Deposit and the McCreedy W e st Limited a whollyowned subsidiary KGHM reached a new agreement in 2013 receive a royalty and of ftake on all future production from the project the of ftake arrangement for all of KGHM International s production from its mines in the Sudbury Basin Clarabelle mill in Sudbury The contract is valid for the full life of all KGHM International s Sudbury mines including future production This agreement sets the foundation project and KGHM International s growing presence in the region said Derek White president and CEO of KGHM International Ltd This project will not only create sig The company will continue to prog ress towards approval and granting of the required permits arrangements with First Nations and prepare for infrastructure construction and shaft development In 2002 KGHM International ac toria and initiated an exploration pro gram on the property Environmental and engineering work and consulta tion with First Nation communities have progressed and project permit ting is under way When all regulatory requirements are met the project will enter the Advanced Exploration stage which entails development of surface and under ground infrastructure to per mit detailed under ground drilling for a feasibility study The results of the feasibility study will determine whether the project is developed KGHM International Ltd formerly Quadra FNX Mining Ltd is a wholly owned subsidiary of KGHM Polska Its story is one of rapid growth from a junior mining company to a global industry player KGHM operates two mines in Cana and is currently constructing the Sier ra Gorda copper molybdenum project in Chile The company produces cop per nickel and precious metals from i ts operating mines KGHM employs approximately 3500 people in North and South America The original Levack copper nickel production in 1915 After 100 years of operation the mine was closed in 1997 and put under care and mainte nance KGHM International acquired the Levack property in March 2002 and commercial production began in January 2007 Continuing exploration work on the Levack property resulted in the dis covery of the Morrison Deposit in February 2005 Nickel mining in the old Levack mine workings was halted in late 2009 while mining of the high SUDBUR Y MINING REPOR T 2014