Magnesium-talc project explored.

• Position: Mining News - Timmins, Ontario - Brief Article

With financial backing from the Quebec government, a magnesium-talc project in Timmins may be closer to fruition.

Timmins-James Bay MPP Gilles Bisson, is meeting with Northern Development and Mines Minister Jim Wilson to offer incentives for Globex Mining Enterprise Inc. to build a new smelter near Timmins. The Quebec government is offering the mining company conditional financial support if it builds a smelter in that province for ore mined at a large magnesium-talc-silica deposit 13 kilometres south of downtown Timmins.

The mine is expected to produce 90,000 tones of magnesium metal annually, with the smelter expected to employ 500 people. The project represents a $966-million (US) investment. An upcoming meeting between Globex and ministry officials has been arranged, at which time mining company executives will present their case.

Globex Mining Enterprises Inc. owns 100 per cent interest in a magnesite-talc-silica deposit 13 kilometres south of Timmins in Deloro Township. A study completed last fall suggested a full feasibility study be commissioned with intent to construct a $1.5-billion mining, milling and smelting complex with mine and mill facilities in Timmins and a smelter near Rouyn-Noranda, Que. The cost of a full feasibility study has been calculated at $17,709,000, says an...