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Sept 30 (Reuters) - North American palladium Ltd cut its production forecast for the year on Wednesday and also said it was laying off 44 employees at its Lac des Iles mine in Ontario, another casualty of weaker metal prices. The Canadian-based miner producer said it now expects to produce between 160,000 and 170,000 ounces of palladium, down from a previous forecast of 185,000 to 205,000 ounces, as it reduces how much of its low-grade surface stockpile it processes. At current prices, the surface stockpile is not economic. The company is also not filling an extra 17 vacant jobs at Lac des Iles. The site will now employ a total of 422 workers. (Reporting by Nicole Mordant in Vancouver; Editing by Lisa Shumaker)
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North American Palladium Ltd
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PRODUCER |
CODE : PDL.TO |
ISIN : CA6569121024 |
CUSIP : 656912102 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
North American Palladium is a palladium producing company based in Canada. North American Palladium produces palladium, copper, gold, nickel and platinum in Canada, develops copper, gold, palladium and platinum in Finland, and holds various exploration projects in Canada. Its main assets in production are LAC DES ILES and SLEEPING GIANT PROPERTY in Canada, its main asset in development is ARCTIC (SUHANKO) in Finland and its main exploration properties are TIB LAKE, DISCOVERY PROJECT, SHEBANDOWAN - BAND-ORE and ROARING RIVER in Canada. North American Palladium is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.1 billions as of today (US$ 871.6 millions, € 781.9 millions). Its stock quote reached its highest recent level on June 01, 2012 at CA$ 996.00, and its lowest recent point on December 26, 2014 at CA$ 0.16. North American Palladium has 58 130 000 shares outstanding. |