Known for possessing the world's oldest water (Over 2 billion years old)
|Year of acquisition||2013 (takeover of Xstrata Copper.)|
Kidd Mine is an underground base metal mine in the city of Timmins, Ontario, Canada. It is owned by Glencore Inc., and operated by Kidd Operations, a Glencore subsidiary. The mine was formerly owned by Xstrata Copper, Falconbridge Ltd., and Texas Gulf Sulphur. Ore from the Kidd Mine is processed into concentrate at the Kidd Metallurgical Site, located 27 km (17 mi) southeast of the mine, which until 2010 also smelted the ore and refined the metal produced. Following the closure of the majority of the Met Site, concentrate is now shipped to Quebec for processing. Kidd Mine is the world's deepest copper/zinc mine.
An aerial geophysical survey, conducted by Texas Gulf Sulphur Company in March 1959, indicated an anomaly in the Kidd-55 segment warranting ground investigation. A ground electromagnetic survey was conducted in Oct 1963 and a drill rig started drilling a 600-foot core sample in Nov. The core, later confirmed by the Union Assay Office in Salt Lake City, showed an average copper content of 1.15%, an average zinc content of 8.64%, and 3.94 ounces of silver per ton. A second hole was drilled in March 1964, followed by two more in early April. The copper-zinc-silver ore deposit at Kidd Mine discovery was announced in a press release after the board of directors meeting on 16 April 1964. Seven drill holes indicated an ore body 800 feet long, 300 feet wide, and a vertical depth of 800 feet.
During the initial exploration of the site, then known as Kidd-55, officers of the company engaged in insider trading in Texas Gulf shares. The ensuing lawsuit by the Securities and Exchange Commission resulted in a landmark decision that established the right of all market participants to have "relatively equal access to material information."
Kidd Mine and Met Site collectively employ approximately 850 employees and contractors. In 2008, the company committed to investing $120 million to extend the production to 2017, and deepen the mine to 9,600 feet (2,900 m). . The investment would add 3.4 million tonnes of ore into the mine plan. The expansion included the development of three additional production levels and deepening the ramp from the 9100 level to the 9600 level, where the loading pocket is located. This included an extension of the ventilation and backfill systems to the new sections of the mine. The mine's expected production life has since been extended to 2021.
The mine is the deepest base metal mine in the world. The maximum depth of 10,300 feet (3,100 m) and its low surface elevation mean that the bottom of the mine is the deepest accessible non-marine point on earth.
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- Kidd Metallurgical Site
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