FNX.TO: 14.26  -0.24
FNXProjects
FNX Projects

Development - - 2009 Plans

Development

During 2008, development work occurred at all three operations; McCreedy West, Levack and Podolsky. Development at McCreedy West Mine to support 2008 nickel and copper-precious metal production plans produced 253,459 tons of waste rock, primarily from the footwall PM Deposit ramp development. Total development advances were 12,495 ft comprised of 7,008 ft from the Inter Main Deposit, 2,505 ft from the PM Deposit and 2,405 ft from the East Main Deposit. Raising accounted for 577 ft of vertical advance.

Waste development in 2008 from the Levack Mine was 367,602 tons and Planned Development at LFDdevelopment advances totaled 15,367 ft. Raise development totaled 1,236 ft and included a second egress for the LFD development from the 2650 Level access ramp. Included in the total advance footage was 4,533 ft of lateral development on the 2650 Level access ramp to develop Rob’s Deposit and, ultimately, the LFD (see Figure 3).

Development at the Podolsky Mine continued in 2008 from both the 1750 and 2450 Level crosscuts. A total of 12,000 ft of lateral development at Podolsky generated 190,000 tons of waste rock. Vertical development consisted of 2,900 ft of raise boring and 1,100 ft of Alimak raising. Development of a new ramp to access the North Deposit at Podolsky occurred only in the first quarter of 2008 and lateral development totaled 862 ft.

Total development capex at the three mine sites in Sudbury during 2008 was $167.7 million, a reduction of $69.7 million from the original capex budget of $237.4 million.

2009 Plans

The total capex budget planned for 2009 is reduced to $64.2 million, including $10.2 million in exploration expenditures (see Table 3). The bulk of the 2009 capex budget will be committed to developing the LFD via the 2650 Level access ramp and reconditioning of the Levack No. 2 Shaft to the 3600 Level. Current plans call for an additional 8,200 ft of access development on the LFD and removal of approximately 50,000 tons in pre-production development ore late in 2009. The total capex budget for LFD development during 2009 is $38.9 million.

Reconditioning of Levack No. 2 Shaft
Another $11.3 million in capex for 2009 is committed to completing the initial development of the Podolsky Mine, including connecting the main access ramps from the 1750 and 2450 Levels and driving sub-levels.

Planned development of $3.8 million for the McCreedy West Mine will deepen the main access ramp below the 1900 Level and drive sub-level development into the PM ore body to support future production.





© Copyright 2008 FNX Mining Company Inc., All rights reserved.