Northgate Minerals Corporation is a leading gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia.  The company is forecasting production of 316,000 ounces of unhedged gold production in 2010 and is targeting growth through further acquisitions in stable mining jurisdictions around the world. 

Northgate prides itself in its strong operating abilities and has gained a reputation as one of the finest operators in the business. This reputation is based on the Corporation's outstanding track record of delivering on its promises. Over the past eight years, a dedicated and knowledgeable workforce has transformed Kemess into one of the most efficient open pit mines in the world. In 2006, exceptional operating performance at Kemess, combined with a strong metal price environment, produced record earnings of $107 million and record cash flow of approximately $147 million. In 2007, despite a significant modification to the production schedule in the fourth quarter, which was necessitated by the realignment of the main haul road out of the Kemess open pit, Northgate still generated strong cash flow of $125 million, producing 245,631 ounces of gold and 68.1 million pounds of copper.

While Northgate has proven its strong operating abilities, the company has focused its growth strategy on the acquisition of one or more mines and/or late-stage development projects, in order to become a multi-mine gold producer.  Northgate successfully achieved this goal in February 2008, with the acquisition of Perseverance Corporation Limited, a gold producer with two fully permitted operating mines in Australia. As a result, Northgate achieved record production of 354,000 ounces of gold in 2008 and posted record revenue of $461 million.  This was followed by a second straight year of record production in 2009 of 362,743 ounces of gold.  

In 2010, with a strong balance sheet and continuing high metal prices, we look forward to a successful year highlighted by another annual production record at Fosterville, the two millionth ounce produced in the long history of Stawell, continued low-cost production at Kemess and the commencement of construction at Young-Davidson.

Our 2009 Achievements:
(last updated January 2010)

• Produced record production of 362,743 ounces of gold
• Produced 52.5 million pounds of copper
• Fosterville Mine
  –  Achieved record production of 103,360 ounces of gold
  –  Dramatic decline in average net cash cost compared to 2008
  –  Increased mining rates by over 60% since taking ownership of the mine
  –  Significantly cut production costs in half resulting from operational turnaround 
  –  Continued exploration success
• Stawell
  –  Produced 86,343 ounces of gold
  –  Extended mine life until Q2 - 2012
  –  Developed sufficient working faces allowing for robust plan in 2010
• Kemess
  –  Achieved production target of 173,040 ozs of gold and 52.5 million lbs of copper
  –  Cash costs were significantly lower than forecast due to exceptional copper prices 
• Young-Davidson
  –  Released positive pre-feasibility study
  –  Signed IBA with the Matachewan First Nation
  –  Discovered new gold zone outside of the known resource area