New three-year collective agreement ratified at Northgate's Kemess mine
09 Avril 2008 - 1:20AM
PR Newswire (US)
TSX: NGX AMEX: NXG VANCOUVER, April 8 /PRNewswire-FirstCall/ --
Northgate Minerals Corporation (TSX: NGX, AMEX: NXG) is pleased to
report that a new three-year collective agreement (the "Agreement")
has been ratified by the International Union of Operating Engineers
Local 115, representing the 300 production and maintenance
employees at its Kemess South mine. The Agreement replaces the
previous three-year agreement that expired on December 31, 2007.
Ken Stowe, President and CEO, stated: "We are pleased to have
reached a mutually beneficial agreement with our employees at
Kemess after an extensive negotiation process. This agreement is
the result of dedication and commitment on both sides of the
bargaining table and I would like to commend the two negotiating
teams and the mediator for their efforts during this process."
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, 2007
or under the heading "Risks and Uncertainties" of Northgate's 2007
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, Director, Investor Relations, Tel: (416) 216-2781, Email: ,
Website: http://www.northgateminerals.com/
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