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Friday, 6th November 2009 (263 views)

Work to mine a major gold deposit in Canada is helping to rejuvenate the town of Snow Lake in northern Manitoba.

The project at Lalor Lake is on track to meet a gold production target of three million ounces, according to mining company HudBay Minerals.

Increased output at the site means miners who were previously travelling to another project owned by the company several hours away are heading back to Snow Lake, the Canadian Broadcasting Corporation reports.

Commenting on the gold deposits at the Lalor Lake mine, HudBay senior vice-president of operations Tom Goodman said: "Comparing it to other gold finds in recent years, it's right up there."

About 860 people live in Snow Lake. The town's mayor, Garry Zamzow, stated: "These recent announcements have taken us from gloom and doom to bust to boom. The entire town is ecstatic and very excited."

Last month, HudBay's board of directors approved the expenditure of C$85 million (£47.9 million) to fund the first phase of production expansion at the Lalor Lake project.

The company has assets across North and Central America.

 

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