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Xstrata Copper Announces the Sale of the End-Of-Life Recycling Assets Operated by Noranda Recycling

Xstrata Copper Announces the Sale of the End-Of-Life Recycling Assets Operated by Noranda Recycling

TORONTO, ONTARIO -- (MARKET WIRE) -- 03/12/07 -- Xstrata Copper Canada, one of the world's largest recyclers of precious metals and copper, announces the sale of its end-of-life recycling facilities to Sims Recycling Solutions a wholly owned subsidiary of Sims Group Ltd. The three end-of-life recycling facilities are currently operated by Noranda Recycling, a wholly-owned subsidiary of Xstrata, and are based in Roseville, California, La Vergne, Tennessee and Brampton, Ontario.

Xstrata Copper will continue to receive and process the copper and precious metal bearing product stream from the formerly owned facilities. Xstrata Copper Canada continues to operate precious metal recovery and sampling facilities located at East Providence, Rhode Island and San Jose, California under the banner of Noranda Recycling. Commercial offices in Toronto, Ontario, San Jose, California, East Providence, Rhode Island, Penang, Malaysia and Zug, Switzerland will be maintained with the goal of expanding Xstrata Copper Canada's acquisition of recyclable materials.

"Following a strategic review of the end-of-life electronics recycling business, a decision was reached to divest these assets to Sims Recycling Solutions, owned by the world's largest publicly traded metals recycler. By partnering with Sims, Xstrata Copper has the opportunity to increase the volume of recycled material processed through its Horne smelter in Rouyn, Quebec, and to grow our activity in the precious metal and copper recycling business", said Claude Ferron, Xstrata Copper Canada's Chief Operating Officer.

Xstrata Copper Canada started recycling materials through its Horne smelter in the 1940s and now recycles over 100,000 metric tonnes per year.

Background

Xstrata is a major global diversified mining group, listed on the London and Swiss stock exchanges. Headquartered in Zug, Switzerland, Xstrata maintains a meaningful position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with a smaller but profitable aluminium business, recycling facilities, additional exposures to gold, lead and silver and a suite of global technologies, many of which are industry leaders. The Group's operations and projects span 18 countries: Argentina, Australia, Brazil, Canada, Chile, Colombia, the Dominican Republic, Germany, Jamaica, New Caledonia, Norway, Papua New Guinea, Peru, South Africa, Spain, Tanzania, the USA and the UK.

Xstrata Copper is headquartered in Brisbane, Australia, with regional offices in Santiago and Antofagasta, Chile; Lima and Arequipa, Peru; Buenos Aires, Argentina; and Toronto, Canada, and is one of the commodity business units within the major global diversified mining group Xstrata plc.

Xstrata Copper's mining operations span five countries and comprise mines, mineral processing plants and port facilities in North Queensland, Australia; mining and processing operations and port facilities in Chile, Peru and Argentina in South America; and mining and processing plants in Canada. It also has a recycling business (Noranda Recycling) with plants in the United States and Asia.

Xstrata Copper is the fourth largest global copper producer, with annual managed production of over one million tonnes.

Contacts:
Xstrata Copper Canada Contact:
Noranda Recycling Inc.
Steve Skurnac, President
(408) 998-4930 or Mobile: 408-210-6590
Email: [email protected]

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