North American Palladium
North American Palladium Ltd. (TSX: PDL, NYSE: PAL) is a mining company with headquarters located at Toronto, Canada.
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 mining operations are at:[1][2]
- the Lac des Iles palladium mine consisting of an open pit mine, an underground mine, and processing facilities located in the Thunder Bay District, Ontario[3]
- the Sleeping Giant gold mine located in the Abitibi-Témiscamingue region in Quebec.
It also owns for exploration the Discovery project, Flordin property, Shebandowan West project and the Vezza project.[2]
The company was founded in 1968 as Madeleine Mines Ltd. and changed its name to North American Palladium Ltd. in June 1993.[1]
On December 10, 2007, the company earned a 50% interest in the former producing Shebandowan mine and the surrounding Haines and Conacher properties pursuant to an option and joint venture agreement with Vale Inco. The properties, known as the Shebandowan property, contain a series of nickel copper-PGM mineralized bodies.[4]
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.[5][6]
On May 26, 2009, the company acquired the Sleeping Giant gold mine through the acquisition of Cadiscor Resources Inc.[7]
On May 20, 2010, the company acquired the Vezza gold project from Agnico-Eagle Mines.[8]
William J. Biggar has been Chief Executive Officer and President of North American Palladium Ltd. since October 1, 2008.[9]
The only other North America based palladium or platinum producer is Stillwater Mining Company, located in Montana, USA.[10]
References
- ^ a b Yahoo company profile
- ^ a b North American Palladium Ltd. website
- ^ a b Infomine report on Lac des Îles
- ^ Shebandowan West Project
- ^ Lac des Iles mine digs deep
- ^ North American Palladium Mine Celebrates Reopening
- ^ MSN Money
- ^ North American Palladium to acquire Vezza gold project from Agnico-Eagle Mines
- ^ Bloomberg Businessweek
- ^ Stillwater Mining or North American Palladium: Which is the Better Investment? - Seeking Alpha