Three-Year Collective Agreement Ratified at Northgate's Fosterville Gold Mine
30 June 2009 - 7:26AM
PR Newswire (US)
VANCOUVER, June 29 /PRNewswire-FirstCall/ -- Northgate Minerals
Corporation (TSX: NGX, NYSE Amex: NXG) is pleased to announce that
a three-year Employee Collective Agreement (the "Agreement") has
been ratified by the Employee Collective, comprising of 190
production and maintenance employees for the underground and
surface operations at the Fosterville Gold mine located in
Victoria, Australia. This Agreement replaces the Australian
Workforce Agreements and a temporary Greenfield agreement that was
put into place in April 2008 when Northgate completed its
conversion to owner mining from contractor mining. Ken Stowe,
President and CEO stated, "Shortly after acquiring the Fosterville
Gold mine, we quickly transitioned to owner mining with the focus
on turning around the operation. We hired virtually the entire
workforce from the former contractor and our new workforce embraced
the opportunity to participate in this successful turnaround. A
year later, we are extremely pleased to have reached a three-year
Collective Agreement with our employees at Fosterville and I would
like to commend the significant contributions from the two
negotiating teams during this extensive process. Equipped with a
strong resource base, we will continue with our goal of growing
both production and reserves, and are backed by a dedicated
workforce who is committed to the long-term success of the mine."
-------------- Northgate Minerals Corporation is a gold and copper
producer with mining operations, development projects and
exploration properties in Canada and Australia. The company is
forecasting record gold production of over 390,000 ounces in 2009
and is targeting growth through further acquisition opportunities
in stable mining jurisdictions around the world. Northgate is
listed on the TSX under the symbol NGX and on the NYSE Amex under
the symbol NXG. -------------- Forward-Looking Statements: This
Northgate press release contains "forward-looking information", as
such term is defined in applicable Canadian securities legislation,
concerning Northgate's future financial or operating performance
and other statements that express management's expectations or
estimates of future developments, circumstances or results.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "expects", "believes",
"anticipates", "budget", "scheduled", "estimates", "forecasts",
"intends", "plans" and variations of such words and phrases, or by
statements that certain actions, events or results "may", "will",
"could", "would" or "might" "be taken", "occur" or "be achieved".
Forward-looking information is based on a number of assumptions and
estimates that, while considered reasonable by management based on
the business and markets in which Northgate operates, are
inherently subject to significant operational, economic and
competitive uncertainties and contingencies. Northgate cautions
that forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause Northgate's actual
results, performance or achievements to be materially different
from those expressed or implied by such information, including, but
not limited to gold and copper price volatility; fluctuations in
foreign exchange rates and interest rates; the impact of any
hedging activities; discrepancies between actual and estimated
production, between actual and estimated reserves and resources or
between actual and estimated metallurgical recoveries; costs of
production; capital expenditure requirements; the costs and timing
of construction and development of new deposits; and the success of
exploration and permitting activities. In addition, the factors
described or referred to in the section entitled "Risk Factors" in
Northgate's Annual Information Form for the year ended December 31,
2008 or under the heading "Risks and Uncertainties" in Northgate's
2008 Annual Report, both of which are available on the SEDAR
website at http://www.sedar.com/, should be reviewed in conjunction
with the information found in this press release. Although
Northgate has attempted to identify important factors that could
cause actual results, performance or achievements to differ
materially from those contained in forward-looking information,
there can be other factors that cause results, performance or
achievements not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
or that management's expectations or estimates of future
developments, circumstances or results will materialize.
Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information in
this press release is made as of the date of this press release,
and Northgate disclaims any intention or obligation to update or
revise such information, except as required by applicable law.
DATASOURCE: Northgate Minerals Corporation CONTACT: Ms. Keren R.
Yun, Director, Investor Relations, Tel: (416) 363-1701 ext. 233,
Email: , Website: http://www.northgateminerals.com/
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