FNX Mining Company Inc.

FNX Mining Company Inc.

June 01, 2009 09:19 ET

FNX Continues Mining at Its Sudbury Operations

TORONTO, ONTARIO--(Marketwire - June 1, 2009) - FNX Mining Company Inc. (TSX:FNX) ("FNX" or the "Company") reports that it is continuing its Sudbury, Ontario mining operations as planned and with its full complement of employees. However, as a result of a previously announced 8-week temporary shutdown of the Company's normal custom processing facilities, effective May 29 2009, it has suspended shipments of ore production to the custom mill and is temporarily stockpiling its ore production on surface for future processing. The underground development at both the Levack Footwall Deposit and the Podolsky Mine's 2000 Deposit will also continue as planned.

The Company will continue to evaluate and consider its many options as circumstances evolve. These options include shipping to an alternative third party processing facility, continuing to stockpile ore on surface or temporarily suspending ore production until the custom processing facilities resume operations. The custom mill is scheduled for resumption of operations on July 27, 2009, however there is a possibility that the shutdown might be further extended due to a labour interruption.

Terry MacGibbon, President and CEO of FNX, noted that "The Company is again taking advantage of its great flexibility and, even in light of the 8-week shutdown and possible labour interruption at our third party's custom processing facilities, we are continuing to mine as planned and will stockpile the ore on surface for processing at a later date, while maintaining our current Sudbury workforce. However, we will evaluate, on a weekly basis, the option to ship ore to another third party processing facility, to continue stockpiling the ore or temporarily suspend our mining operations until our third party custom processing facilities are re-opened. In any case, we will continue the aggressive development of our Levack Footwall Deposit for commercial production in 2010."

The Company will issue further guidance as new developments occur.

Forward-Looking Statement

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. In this news release, statements about possible future actions or operating options and alternatives are examples of forward-looking statements. There is no guarantee that any anticipated production plans or forecasts will be implemented or be viable. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • FNX Mining Company Inc.
    Terry MacGibbon
    Chairman and Chief Executive Officer
    FNX Mining Company Inc.
    David Constable
    Vice President Investors Relations