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Alexco preparing to resume silver mining in Yukon later this year

Louisville, Kentucky (Platts)--31 Jan 2018 701 pm EST/001 GMT


Although a final production decision has not been made, Canada's Alexco Resource Corp. is preparing to resume mining of silver and related minerals late this year in the Yukon's Keno Hill Silver District, a company official said Wednesday.

The Vancouver-based company shut its Bellekeno silver mine in the Yukon in 2013 because of low commodity prices. Bellekeno was producing about 2 million oz of silver and 20 million lb of lead and zinc concentrate annually at the time.

Alexco has fully permitted its Flame & Moth, Bellekeno and Lucky Queen deposits in the district, while permitting continues for the Bermingham deposit.

The Yukon Environmental and Socio-Economic Assessment Board is accepting public comment on the Bermingham project until February 22.

Lisa May, the company's director of investor relations, said in an email that Alexco's planned mine "will produce very high quality lead and zinc concentrates."

According to the company, it has just over 1 million mt of ore in the Keno Hill district, grading 843 g/mt silver, 3.31% lead and 4.2% zinc.

While the company has not made a formal production decision, May said, it anticipates the start of production late in the fourth quarter of 2018, possibly slipping into the first quarter of 2019.

Alexco has a number of items it needs to complete before production commences, although May noted the company is "currently on track to complete the Bermingham decline on time."

--Bob Matyi, newsdesk@spglobal.com

--Edited by Jason Lindquist, jason.lindquist@spglobal.com




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