TORONTO, Feb. 7 /CNW Telbec/ - VVC EXPLORATION CORPORATION (VVC: TSX-V)
(V7S: FSE / BBSE) ("VVC" or the "Company") is pleased to report that the
Beaver Brook Antimony Mine Inc. ("BBAM") has obtained all the necessary
provincial permits and approvals for production of its antimony mine located
near Gander, Newfoundland and has commenced the process of restarting
production of antimony concentrate for industrial markets. BBAM expects to
have the underground mine up and running within three months. BBAM has already
filed the required development, rehabilitation and closure plans with the
appropriate provincial ministries. VVC owns 10% of the shares of BBAM.
"This development is great news for the communities and residents of
central Newfoundland," said the Honourable Kathy Dunderdale, Minister of
Natural Resources of Newfoundland. "This operation could employ up to 90
people over the next seven to 10 years and will also generate important
economic activity for the businesses in the region that will provide supplies
and services to the mine and the people it employs."
The Beaver Brook Mine, located in central Newfoundland approximately
60 kilometres southwest of Gander, is the only operating antimony mine in
North America and is also one of the world's largest undeveloped antimony
deposits outside of China and South Africa. Once in full production, the Mine
could supply nearly up to 5% of world's annual demand and its neighbouring
country, the United States is one of the world's largest consumer of antimony.
A 450 ton per day mill is erected on the mine site and all equipments and
others facilities are up and running. Mine rehabilitation and development have
been completed, the 15% production ramp and 313 meters of drifts are ready for
the extraction of ore.
Antimony trioxide is the most important of the antimony compounds and is
primarily used in flame-retardant formulations. These flame-retardant
applications are used in plastics, vinyls and synthetic fibres and
specifically such markets as clothing, toys, aircraft and automobile
interiors. Antimony metal's most important use is hardener in lead for storage
batteries. The metal also finds applications in solders and other alloys.
Over the past year, antimony has fluctuated between US $5,100 and $5,600
per tonne. Published prices are currently in the US $5,500 to $6,000 per tonne
range and global demand is expected to grow at approximately 3.5% per year.
"Timing could not be better." says M. Bert Bourgoin, President of BBAM
and world renowned geologist and antimony specialist. "The price of antimony
is at is all time high, with great manpower readily available and world demand
still growing, we are delighted to finally restart production in 2008. We are
extremely proud of this project which should result in the creation of at
least 90 fulltime jobs at the mine site."
VVC Exploration Corporation is a Canadian exploration company with
projects in the Timmins Area, Ontario, Canada. VVC also has an indirect
participation in the Beaver Brook Antimony Mine in Newfoundland, Canada. VVC
is also aggressively searching for other projects such as Gold, Base metal,
Uranium and Antimony at various stages of development. Visit our website at
The TSXV has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
On Behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information:
For further information: Charles Descary, Manager, Investor Relations,
(514) 631-2727, 1-877-558-2727 ext 222, firstname.lastname@example.org