Balmat Mine Remains Closed Despite Hike In Zinc Prices

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It's been four years since Canadian-based HudBay idled its St. Lawrence Zinc mining operation in Balmat, putting nearly 200 miners out of a job.
 
When the operation closed, zinc prices had dropped to about 80 cents per pound.

The price rebounded since then and currently sits at 90 cents a pound.

Despite the price boost, the Gouverneur-area mine remains in a maintenance mode with no signs of reopening anytime soon.

HudBay Investor Relations Vice President John Vincic tells 7 News the company's plans for the Balmat mine have not changed.

"The mine remains on care and maintenance and there are no plans at this time for HudBay to restart operations at the mine," Vincic said.

"We continually review the status of all our assets within our portfolio to ensure they are being managed in an optimal manner," he said.

See our story from a year ago.

Wednesday, April 16, 2014
, Watertown, NY

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