Final Years of Asarco Operation
On 17 March 1976 Asarco Incorporated, Buchans Unit and Price (Nfld.) Pulp and Paper Limited (Incorporated in 1962 replacing AND co - would later become Abitibi-Price then Abitibi-Bowater) signed a new contract whereby Price repossessed its original mineral exploration rights over the entire 1905 A.N.D. Co. concession area except for the mine site. The two companies agreed to continue sharing the profits from the existing mines and from any future mines developed on deposits discovered by ASARCO prior to March 1976.
In 1980/1981, Asarco also mined a 2,000+ ton bulk sample by way of an adit developed at the Tulks Hill Lead-Zinc orebody near the southwestern corner of Red Indian Lake. (This prospect, with at least 600,000 tons of recoverable ore, as of 2012, had not yet been mined).
In 1977 Asarco began to divest itself of company owned houses and community infrastructure. Asarco shut all mining operations at its Buchans Unit in 1982 with only 12 workers remaining on the property, down from 550 in 1978. Mining resumed briefly in 1983 and 1984 at the MacLean extension and at Oriental Mine where some ore was mined from two pits near Oriental Mine Shaft. This Mining ceased in September 1984. 17.5 million tons were mined and processed over the 55 year history of mining at Buchans. ASARCO also closed its remaining barite recovery operation (which had operated seasonally since 1981) in 1984.
Read more about this topic: Buchans
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