Inco releases Noranda copper deal details.Almost a month after Inco announced it was closing down its 70-year-old Sudbury Sudbury, city, Canada Sudbury, city (1991 pop. 92,884), central Ont., Canada. It is the center of Canada's largest mining region, which produces much of the world's nickel and large quantities of copper, platinum, gold, silver, cobalt, and sulfur. copper refinery, the nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. giant has entered into an agreement with Noranda Noranda: see Rouyn-Noranda, Que., Canada. to process its copper anode anode (ăn`ōd), electrode through which current enters an electric device. In electrolysis, it is the positive electrode in the electrolytic cell. anode Terminal or electrode from which electrons leave a system. in Quebec. The 10-year agreement, which begins Jan. 1, 2006, involves the sale of all of Inco's Ontario copper production in anode form to Noranda. The copper would be recovered at Noranda's Montreal copper refinery. Inco would receive back the nickel and platinum-group metals recovered with Noranda purchasing and paying Inco for all the gold and silver recovered. It's estimated that between 230 and 270 million pounds annually of contained copper in anode form would be purchased and processed by Noranda under the agreement. On May 20, Inco announced it will close the Sudbury refinery by year's end and transfer the 140 unionized workers to other positions within the Sudbury operation. |
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