Tentative labour agreement reached at Northgate's Kemess mine
17 Mars 2008 - 10:35PM
PR Newswire (US)
TSX NGX AMEX NXG VANCOUVER, March 17 /PRNewswire-FirstCall/ --
Northgate Minerals Corporation (TSX: NGX, AMEX: NXG) reported today
that it has reached a tentative three-year collective agreement
(the "Agreement") with the International Union of Operating
Engineers Local 115 (the "Union"), representing the 300 production
and maintenance employees at its Kemess South mine. The terms of
the tentative Agreement were accepted by both the Union's
bargaining committee and Northgate following a recommendation made
by a government appointed mediator. The Union's bargaining
committee has unanimously recommended ratification of the Agreement
to its membership who will vote on the Agreement over the next
three weeks. All operations at Kemess South 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 growth
through further acquisitions 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 Corporation's 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" of Northgate's
Annual Information Form (AIF) for the year ended December 31, 2006
or under the heading "Risks and Uncertainties" of Northgate's 2006
Annual Report, both of which are available on SEDAR at
http://www.sedar.com/, should be reviewed in conjunction with this
document. Accordingly, readers should not place undue reliance on
forward-looking statements. The Corporation does not undertake 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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