Mine closer to fruition. (Mining News).There is good news to report for the City of Timmins as the development of a magnesium magnesium (măgnē`zēəm, –zhəm), metallic chemical element; symbol Mg; at. no. 12; at. wt. 24.305; m.p. about 648.8°C;; b.p. about 1,090°C;; sp. gr. 1.738 at 20°C;; valence +2. mine inside the city is one step closer to coming to fruition fru·i·tion n. 1. Realization of something desired or worked for; accomplishment: labor finally coming to fruition. 2. Enjoyment derived from use or possession. 3. . The magnesium mine project is moving to the next stage of exploration and the federal government is contributing 25 per cent of the cost toward the first phase of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. . Another 25 per cent of the cost has already been secured from the Quebec government by the Rouyn-Noranda junior mining company Globex Mining Enterprises Inc. The junior mining company must now raise the remaining 50 per cent of the $1,574 million. In total, Globex Mining Enterprises Inc. estimates the cost of a bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. to be $17.7 million, but the work is being carried out in phases. Meanwhile, the cost of bringing the magnesium-talc mine to production in the township of Deloro is expected to be approximately $1.5 billion and is also expected to create 80 jobs for the Timmins area. Another 530 jobs are expected to be created as a direct result of a smelter that will be needed to process the ore from the mine. That smelter is expected to be located in Quebec, just outside Rouyn-Noranda. The company hopes to achieve production by 2006. |
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