Kitikmeot Corporation
 
 
 
 
 
 

Kinross acquired the Lupin underground gold mine from Echo Bay Mines in 2003, and operated it until its closure in 2005. Since 1982, the Lupin Gold Mine has produced more than 3 million ounces of gold.

Lupin is located within Nunavut, approximately 80 km east of the Izok deposit, very close to the southern boundary of Nunavut with the NWT.

In February, 2006 Wolfden announced that it would acquire a 100% interest in the Lupin Gold Mine from Kinross, and in March, 2007 announced that it had completed this transaction. At this time there had been some discussion of reopening Lupin to mine any gold that may still remain.

During 2007 Zinifex Ltd. acquired Wolfden Resources, and in mid-2008 Oxiana Resources merged with Zinifex to form OZ Minerals.

OZ Minerals then announced that Izok would be their top development priority (our expectation at that time being that Izok may, to some degree, rely on the existing infrastructure at Lupin - and which remains a possibility, depending on which company ultimately develops Izok). However OZ Minerals subsequently announced that they were deferring several capital projects and making substantial cuts to operating cost budgets. As such, the feasibility study of the Izok project, for one, was deferred.

On June 11th, 2009, China Minmetals Corporation completed the acquisition of OZ Minerals (assets acquisition). A new Australian company called Minerals and Metals Group Ltd. (MMG) will be set up to manage these assets. Further information on plans for project development is not available at this time.

Contact:
China Minmetals Corporation
Email: support@minmetals.com.cn
Website: www.minmetals.com

 
 
 
 

NOTE TO WEBSITE VISITORS
This website and all content is provided for informational purposes only and should not be interpreted as a recommendation for any specific product or service, use or course of action. You should not act or rely on any of the content without seeking advice of a qualified professional. This web site and all content on this web site or made available through this web site are provided “as is” without any representations, warranties, guarantees or conditions, of any kind, whether express or implied, statutory or otherwise. The content may not be accurate, up to date, or complete. You should apply your own judgment in making any use of any content. Kitikmeot Corporation does not assume responsibility for the accuracy or appropriateness of the information, data, opinions, advice, or statements accessed through links to other sites, and when you access such sites, you are doing so at your own risk. In providing links to other sites, Kitikmeot Corporation is in no way acting as a publisher or disseminator of the material contained on those other sites and does not seek to monitor or control such sites, and such links should not be construed to mean that Kitikmeot Corporation is affiliated or associated with same. In no event will Kitikmeot Corporation, its affiliates or their respective directors, employees or authorized agents, be liable for damages or losses resulting from: viruses, data corruption, failed messages, transmission errors, links to third-party web sites, third-party content, products or services, loss of use or lack of availability of facilities including computer resources, routers and stored data. Kitikmeot Corporation assumes no obligation to update the content on this site, and the content on this site may be changed without notice. Kitikmeot Corporation disclaims any liability for unauthorized use or reproduction of any portion of the web site.