FNX Responds to Sudbury Shutdown

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FNX Responds to Sudbury Shutdown

posted on Apr 17, 2009 10:39AM

April 17, 2009

FNX Responds to Sudbury Shutdown

TORONTO, ONTARIO--(Marketwire - April 17, 2009) - FNX Mining Company Inc. (TSX:FNX)("FNX" or "the Company") reports that in response to Vale Inco's announcement yesterday that it will extend its planned three week scheduled maintenance shut down in May by an addition eight weeks from June 1 to July 27, 2009, FNX is considering several possible production alternatives for its Sudbury mining operations and will provide more detailed guidance when it becomes available.

FNX has a strong cash position and is well funded, regardless of any short-term production interruptions, to continue the planned development of its high-grade, copper-nickel-precious metal Levack Footwall Deposit for production start up in 2010 and to continue the planned underground development and detailed definition drilling at its Podolsky mine. FNX will also go ahead with its expanded surface exploration program announced earlier this week.

Possible production alternatives under consideration by the Company include; continue production at its Sudbury operations at current levels and stockpile the ore for processing when Vale Inco resumes operations, temporarily suspending some or all production and re-initiate production close to the lifting of the shutdown and exploring the possibility of sending ore to other processing facilities.

Terry MacGibbon, Chairman and CEO of FNX stated that, "FNX is carefully considering several production alternatives and will provide more detailed guidance when it becomes available, however this shutdown does not delay key development of the LFD for start up production in 2010. We will make ever effort to minimize the effect of the additional eight weeks of shut down and to achieve our 2009 planned production targets while continuing to closely manage our expenditures, cash flow and balance sheet".

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