NORANDA INCOME FUND
TSX : NIF.UN

NORANDA INCOME FUND

December 04, 2009 08:30 ET

Noranda Income Fund Receives a New Motion to Institute a Class Action

VALLEYFIELD, QUEBEC--(Marketwire - Dec. 4, 2009) - The Noranda Income Fund (the "Fund") (TSX:NIF.UN) has received a new motion for leave to institute a class action against the company following the incident that occurred at the Valleyfield zinc processing facility on August 9th, 2004.

In August 2004, the Processing Facility was served with a class action motion to institute a class action presentable before the Quebec Superior Court, subsequent to an accidental discharge of sulphur trioxide. In June 2008, the Quebec Superior Court dismissed the motion. The plaintiff appealed the decision. In August 2009, the Quebec Court of Appeal dismissed the appeal, thereby bringing an end to the matter.

This new motion will have no impact on operations. The Fund intends to vigorously contest the proceedings and will not comment on this matter while the proceedings are pending before the Court.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". The Noranda Income Fund owns the CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Quebec. The CEZinc processing facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of its customers are located. It produces refined zinc metal and various by-products from zinc concentrates purchased from mining operations. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited.

Further information about the Noranda Income Fund can be found at www.norandaincomefund.com

Contact Information

  • Financial information: Mario Chapados
    President & Chief Executive Officer of
    Canadian Electrolytic Zinc Limited
    Noranda Income Fund's Manager
    450-373-9144 ext. 2655
    mchapados@xstratazinc.ca