Noranda Income Fund

TSX : NIF.UN


Noranda Income Fund

December 02, 2013 07:45 ET

Noranda Income Fund Announces the Appointment of Two New Trustees

SALABERRY-DE-VALLEYFIELD, QUEBEC--(Marketwired - Dec. 2, 2013) - Noranda Income Fund (the "Fund") (TSX:NIF.UN) announced today that Chris Eskdale and Dirk Vollrath have been appointed to the Board of Noranda Operating Trust ("Board").

Chris Eskdale joined GlencoreXstrata plc ("Glencore") in January 1997 as an Asset Manager. He currently leads the zinc industrial assets group of Glencore. Chris is a member of the Board of directors of several international mining companies, including Trevali Mining Corporation and Compania Minera Volcan S.A.A.

Dirk Vollrath has been an Asset Manager of Glencore since joining the Company in 1995. He has served as a Member of the Board of directors of several international companies, including Mopani Copper Mines plc and Philippine Associated Smelting and Refining Corporation.

John J. Swidler, Chairman of the Board, welcomes the appointments of Chris Eskdale and Dirk Vollrath. Their expertise in the zinc industry will be an important contribution to the Board and to the Fund.

Neil Wardle resigned from the Board on November 29, 2013. John J. Swidler would like to thank Neil for his contribution to the Board.

As previously announced, Manuel Álvarez Dávila resigned from the Board on November 5, 2013. Chris Eskdale and Dirk Vollrath are joining John Whyte as the Glencore representatives on the Board.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". Noranda Income Fund owns the electrolytic zinc processing facility and ancillary assets (the "Processing Facility") located in Salaberry-de-Valleyfield, Québec. The 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 zinc customers are located. It produces refined zinc metal and various by-products from sourced zinc concentrates. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Glencore Canada Corporation.

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

Contact Information

  • Michael Boone
    Vice President and Chief Financial Officer
    Canadian Electrolytic Zinc Limited
    Noranda Income Fund's Manager
    416-775-1561
    info@norandaincomefund.com