Unionized employees at Northgate's Kemess mine turn down tentative collective agreement - Production continues unaffected
04 Mars 2008 - 11:46PM
PR Newswire (US)
VANCOUVER, March 4 /PRNewswire-FirstCall/ -- Northgate Minerals
Corporation (TSX: NGX, AMEX: NXG) announced today that it has
received notification from the International Union of Operating
Engineers Local 115 (the "Union") that the unionized employees at
the Kemess mine voted to turn down the recently negotiated
tentative collective agreement. The Union's bargaining committee
had unanimously recommended ratification of the agreement to its
membership. Further discussions with the assistance of a mediator
are scheduled to begin within the next week. All operations at the
site continue to run normally, with no disruption to scheduled
production. NORTHGATE MINERALS CORPORATION is a mid-tier gold and
copper producer with mining operations, development projects and
exploration properties in Canada and Australia. The company is
forecasting over 400,000 ounces of unhedged gold production in 2008
and is targeting steady production growth through further
acquisition opportunities in stable mining jurisdictions around the
world. Northgate is listed on the Toronto Stock Exchange under the
symbol NGX and on the American Stock Exchange under the symbol NXG.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" and "forward-looking information" as
defined under applicable Canadian and U.S. securities laws.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe," or "continue" or the
negative thereof or variations thereon or similar terminology.
Forward-looking statements are necessarily based on a number of
estimates and assumptions that are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Certain of the statements made herein by Northgate
Minerals Corporation ("Northgate") including those related to
future financial and operating performance and those related to
Northgate's future exploration and development activities, are
forward-looking and subject to important risk factors and
uncertainties, many of which are beyond the corporations' ability
to control or predict. Known and unknown factors could cause actual
results to differ materially from those projected in the
forward-looking statements. Such factors include, among others:
gold price volatility; fluctuations in foreign exchange rates and
interest rates, impact of any hedging activities; discrepancies
between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; costs of production, capital
expenditures, costs and timing of construction and the development
of new deposits, and success of exploration activities and
permitting time lines; In addition, the factors described or
referred to in the section entitled "Risk Factors" in Northgate's
Annual Information Form for the year ended December 31, 2006 or
under the heading "Risks and Uncertainties" in Northgate's 2006
annual report, both of which are available on SEDAR at
http://www.sedar.com/, and which should be reviewed in conjunction
with this document. Accordingly, readers should not place undue
reliance on forward-looking statements. Neither corporation
undertakes any obligation to update publicly or release any
revisions to forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the
occurrence of unanticipated events, except in each case as required
by law. DATASOURCE: Northgate Minerals Corporation CONTACT: Ms.
Keren R. Yun, Investor Relations, Tel: (416) 216-2781, Email: ,
Website: http://www.northgateminerals.com/
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