FNX Mining Company Inc.
TSX : FNX

FNX Mining Company Inc.

April 17, 2009 11:14 ET

FNX Responds to Sudbury Shutdown

TORONTO, ONTARIO--(Marketwire - April 17, 2009) - FNX Mining Company Inc. (TSX:FNX)("FNX" or "the Company") reports that in response to Vale Inco's announcement yesterday that it will extend its planned three week scheduled maintenance shut down in May by an addition eight weeks from June 1 to July 27, 2009, FNX is considering several possible production alternatives for its Sudbury mining operations and will provide more detailed guidance when it becomes available.

FNX has a strong cash position and is well funded, regardless of any short-term production interruptions, to continue the planned development of its high-grade, copper-nickel-precious metal Levack Footwall Deposit for production start up in 2010 and to continue the planned underground development and detailed definition drilling at its Podolsky mine. FNX will also go ahead with its expanded surface exploration program announced earlier this week.

Possible production alternatives under consideration by the Company include; continue production at its Sudbury operations at current levels and stockpile the ore for processing when Vale Inco resumes operations, temporarily suspending some or all production and re-initiate production close to the lifting of the shutdown and exploring the possibility of sending ore to other processing facilities.

Terry MacGibbon, Chairman and CEO of FNX stated that, "FNX is carefully considering several production alternatives and will provide more detailed guidance when it becomes available, however this shutdown does not delay key development of the LFD for start up production in 2010. We will make ever effort to minimize the effect of the additional eight weeks of shut down and to achieve our 2009 planned production targets while continuing to closely manage our expenditures, cash flow and balance sheet".

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 and alternatives are examples of forward-looking statements. There is no guarantee that any anticipated production plans 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
    416-628-5929
    or
    FNX Mining Company Inc.
    David Constable
    Vice President Investor Relations
    416-628-5929
    Email: info@fnxmining.com
    Website: www.fnxmining.com