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{{Infobox company
{{close paraphrase|source=at least http://stockpreacher.com/2010/12/10/north-american-palladium-ltd-amex-pal-signs-of-extreme-strength-is-a-sign-to-be-cautious/ and http://www.napalladium.com/explore_shebandowan.htm|date=February 2011}}
| name = North American Palladium
'''North American Palladium Ltd.''' ({{Tsx|PDL}}, {{nyse|PAL}}), founded in 1968 as Madeleine Mines Ltd., is a [[mining]] [[company]] with headquarters located at [[Toronto]], [[Canada]]. Renamed to its current title in June 1993,<ref name=Yahoo>[http://finance.yahoo.com/q/pr?s=PAL+Profile Yahoo company profile]</ref> the company primarily mines and explores for [[palladium]] but also for [[gold]]. [[Platinum]], [[silver]], [[nickel]], and [[copper]] are mined as [[by-products]]. The company's principal operations are located in Canada, with the [[Ontario]] [[Thunder Bay District]] holding the [[Lac des Îles igneous complex|Lac des Iles palladium mine]] and the [[Abitibi-Témiscamingue|Abitibi]] region in [[Quebec]] the [[Sleeping Giant (Ontario)|Sleeping Giant]] gold mine, but it also has exploration rights for the Discovery project, Flordin property, [[Shebandowan, Ontario|Shebandowan]] West project and the Vezza project.<ref name=NAP>[http://www.napalladium.com North American Palladium Ltd. website]</ref>
| logo = North American Palladium logo.jpg
| type = [[Public company|Public]]
| traded_as = [[Toronto Stock Exchange|TSX]]:PDL<br />[[NYSE American|AMEX]]:PAL
| foundation = 1968
| fate = [[Takeover|Acquired]] by [[Impala Platinum]]
| defunct = {{End date|2019|12|13}}
| hq_location_city = [[Toronto]], [[Ontario]]
| hq_location_country = [[Canada]]
| key_people = William Biggar [[Chief Executive Officer|CEO]] (2008-2012)<br>Jim Gallagher CEO (2015-2020)
| industry = [[Mining engineering|Mining]]
| products = [[Palladium]]
| homepage = {{url|http://www.napalladium.com}}
}}


'''North American Palladium Ltd.''' is a former Canadian mining company that operated between 1968 and 2019 and that since 1993 operated the Lac des Iles mine in the [[Lac des Îles igneous complex]] of the [[Thunder Bay District]] of [[Ontario]]. The company primarily mined and explored for [[palladium]] but also for [[gold]]. [[Platinum]], [[silver]], [[nickel]], and [[copper]] are mined as [[by-products]]. The company was listed on the [[Toronto Stock Exchange]] but was acquired by [[Impala Platinum]] in 2019.
On October 21, 2008, the Lac des Iles mine was placed on "care and maintenance" due to declining metal prices.<ref name=Infomine>[http://www.infomine.com/minesite/minesite.asp?site=lacdesiles Infomine report on Lac des Îles]</ref> It was reopened on October 13, 2010.<ref>[http://www.chroniclejournal.com/content/news/local/2010/10/14/lac-des-iles-mine-digs-deep Lac des Iles mine digs deep]</ref><ref>[http://www.thunderbaybusiness.ca/article/north-american-palladium-mine-celebrates-reopening-314.asp North American Palladium Mine Celebrates Reopening]</ref>


== History ==
On May 26, 2009, the company acquired the Sleeping Giant gold mine through the acquisition of Cadiscor Resources Inc.<ref>[http://investing.money.msn.com/investments/company-report?symbol=PAL MSN Money]</ref>
North American Palladium was founded in 1968 as Madeleine Mines Ltd. and was renamed to its current name in June 1993.<ref>{{cite news |title=No Longer Madeleine |newspaper=[[Financial Post]] |date=June 26, 1993 |page=S17}}</ref> The Lac des Iles mine began as an open pit mine in 1993. A new mill was commissioned at the mine in 2012, with mine's production rate increasing following that. Underground operations at Lac des Iles started in 2006.<ref>[http://magazine.cim.org/en/projects/lac-des-iles-en/ Underground turnaround]</ref> On October 21, 2008, the Lac des Iles mine was placed on "care and maintenance" due to declining metal prices.<ref name=Infomine>[http://www.infomine.com/minesite/minesite.asp?site=lacdesiles Infomine report on Lac des Îles]</ref> It was reopened on October 13, 2010.<ref>[http://www.chroniclejournal.com/content/news/local/2010/10/14/lac-des-iles-mine-digs-deep Lac des Iles mine digs deep]</ref><ref>[http://www.thunderbaybusiness.ca/article/north-american-palladium-mine-celebrates-reopening-314.asp North American Palladium Mine Celebrates Reopening]</ref> On May 26, 2009, the company acquired the Sleeping Giant gold mine through the acquisition of Cadiscor Resources Inc.<ref>{{Cite web |url=http://investing.money.msn.com/investments/company-report?symbol=PAL |title=MSN Money |access-date=2011-02-05 |archive-url=https://web.archive.org/web/20110721151137/http://investing.money.msn.com/investments/company-report?symbol=PAL |archive-date=2011-07-21 |url-status=dead }}</ref> On May 20, 2010, the company acquired the Vezza gold project, in the Abitibi region, from [[Agnico-Eagle Mines]].<ref>{{Cite web |url=http://www.tradingmarkets.com/news/stock-alert/aem_pal_north-american-palladium-to-acquire-vezza-gold-project-from-agnico-eagle-mines-927902.html |title=North American Palladium to acquire Vezza gold project from Agnico-Eagle Mines |access-date=2011-02-05 |archive-url=https://web.archive.org/web/20100503083448/http://www.tradingmarkets.com/news/stock-alert/aem_pal_north-american-palladium-to-acquire-vezza-gold-project-from-agnico-eagle-mines-927902.html |archive-date=2010-05-03 |url-status=dead }}</ref>


On May 20, 2010, the company acquired the Vezza gold project, in the Abitibi region, from [[Agnico-Eagle Mines]].<ref>[http://www.tradingmarkets.com/news/stock-alert/aem_pal_north-american-palladium-to-acquire-vezza-gold-project-from-agnico-eagle-mines-927902.html North American Palladium to acquire Vezza gold project from Agnico-Eagle Mines]</ref>
The only other [[North America]] based palladium or platinum producer is [[Stillwater Mining Company]], located in [[Montana]], USA.<ref>[http://seekingalpha.com/article/57518-stillwater-mining-or-north-american-palladium-which-is-the-better-investment Stillwater Mining or North American Palladium: Which is the Better Investment? – Seeking Alpha<!-- Bot generated title -->]</ref>


North American Palladium Ltd. was purchased by Johannesburg-based [[Impala Platinum|Impala Platinum Holdings Limited]] for [[Canadian dollar|CA$]]1 billion in 2019.<ref>{{cite news |url=https://www.mining-journal.com/pgms/news/1373052/implats-to-buy-north-american-palladium |title=Implats to buy North American Palladium |publisher=Mining Journal |date=October 7, 2019 |accessdate=January 26, 2020}}</ref> Under the terms of the deal, [[Brookfield Business Partners]] was paid $570 million for its 81% stake in the company and minority shareholders were paid $19.74 per share.<ref>{{cite news |title=South African rival to buy North American Palladium |last=Friedman |first=Gabriel |newspaper=[[Vancouver Sun]] |date=October 8, 2019 |page=B1}}</ref> From that point on, the Lac des Iles mine would be operated by the new company called [[Impala Platinum|Impala Canada Limited]].
William J. Biggar has been Chief Executive Officer and President of the company since October 1, 2008.<ref>[http://investing.businessweek.com/research/stocks/people/person.asp?personId=1112631&ticker=PDL:CN&previousCapId=343163&previousTitle=CABLETEL%20COMMUNICATIONS%20CORP Bloomberg Businessweek]</ref>

The only other [[North America]] based palladium or platinum producer is [[Stillwater Mining Company]], located in [[Montana]], USA.<ref>[http://seekingalpha.com/article/57518-stillwater-mining-or-north-american-palladium-which-is-the-better-investment Stillwater Mining or North American Palladium: Which is the Better Investment? - Seeking Alpha<!-- Bot generated title -->]</ref>


==References==
==References==
{{reflist}}
{{reflist}}


[[Category:Companies formerly listed on NYSE American]]
[[Category:Companies formerly listed on the Toronto Stock Exchange]]
[[Category:Palladium mining companies]]
[[Category:Palladium mining companies]]
[[Category:Gold mining companies of Canada]]
[[Category:Gold mining companies of Canada]]
[[Category:Platinum mining companies]]
[[Category:Platinum mining companies]]
[[Category:Silver mining companies]]
[[Category:Silver mining companies of Canada]]
[[Category:Copper mining companies of Canada]]
[[Category:Copper mining companies of Canada]]
[[Category:Nickel mining companies of Canada]]
[[Category:Nickel mining companies of Canada]]
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[[Category:Abitibi-Témiscamingue]]
[[Category:Abitibi-Témiscamingue]]
[[Category:Companies established in 1993]]
[[Category:Companies established in 1993]]
[[Category:History of mining in Ontario]]

Latest revision as of 15:07, 9 November 2022

North American Palladium
Company typePublic
TSX:PDL
AMEX:PAL
IndustryMining
Founded1968
DefunctDecember 13, 2019 (2019-12-13)
FateAcquired by Impala Platinum
Headquarters
Toronto, Ontario
,
Canada
Key people
William Biggar CEO (2008-2012)
Jim Gallagher CEO (2015-2020)
ProductsPalladium
Websitewww.napalladium.com

North American Palladium Ltd. is a former Canadian mining company that operated between 1968 and 2019 and that since 1993 operated the Lac des Iles mine in the Lac des Îles igneous complex of the Thunder Bay District of Ontario. The company primarily mined and explored for palladium but also for gold. Platinum, silver, nickel, and copper are mined as by-products. The company was listed on the Toronto Stock Exchange but was acquired by Impala Platinum in 2019.

History[edit]

North American Palladium was founded in 1968 as Madeleine Mines Ltd. and was renamed to its current name in June 1993.[1] The Lac des Iles mine began as an open pit mine in 1993. A new mill was commissioned at the mine in 2012, with mine's production rate increasing following that. Underground operations at Lac des Iles started in 2006.[2] On October 21, 2008, the Lac des Iles mine was placed on "care and maintenance" due to declining metal prices.[3] It was reopened on October 13, 2010.[4][5] On May 26, 2009, the company acquired the Sleeping Giant gold mine through the acquisition of Cadiscor Resources Inc.[6] On May 20, 2010, the company acquired the Vezza gold project, in the Abitibi region, from Agnico-Eagle Mines.[7]

The only other North America based palladium or platinum producer is Stillwater Mining Company, located in Montana, USA.[8]

North American Palladium Ltd. was purchased by Johannesburg-based Impala Platinum Holdings Limited for CA$1 billion in 2019.[9] Under the terms of the deal, Brookfield Business Partners was paid $570 million for its 81% stake in the company and minority shareholders were paid $19.74 per share.[10] From that point on, the Lac des Iles mine would be operated by the new company called Impala Canada Limited.

References[edit]

  1. ^ "No Longer Madeleine". Financial Post. June 26, 1993. p. S17.
  2. ^ Underground turnaround
  3. ^ Infomine report on Lac des Îles
  4. ^ Lac des Iles mine digs deep
  5. ^ North American Palladium Mine Celebrates Reopening
  6. ^ "MSN Money". Archived from the original on 2011-07-21. Retrieved 2011-02-05.
  7. ^ "North American Palladium to acquire Vezza gold project from Agnico-Eagle Mines". Archived from the original on 2010-05-03. Retrieved 2011-02-05.
  8. ^ Stillwater Mining or North American Palladium: Which is the Better Investment? – Seeking Alpha
  9. ^ "Implats to buy North American Palladium". Mining Journal. October 7, 2019. Retrieved January 26, 2020.
  10. ^ Friedman, Gabriel (October 8, 2019). "South African rival to buy North American Palladium". Vancouver Sun. p. B1.
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