Update on the sale of the Balmat Zinc Mine:

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Progress Made In Sale Of Balmat Zinc Mine

Story Published: Oct 26, 2012 at 1:08 PM EST

Story Updated: Oct 26, 2012 at 5:24 PM EST

The idled zinc mine in Balmat could reopen next year as the change in ownership moves closer.

New York Zinc signed a letter of intent in May to purchase the St. Lawrence Zinc mine for $14 million from Canadian-based HudBay Minerals.

HudBay closed it down four years ago, putting 200 workers out of a job.

New York Zinc President Mike Hoffman says progress has been made and efforts are moving forward to restart operations there.

Hoffman did not give a time line for when production might resume or how many jobs would be created.

"Once we finalize the deal, we'll have a lot more to share on our plans," he said.

"We are hopefully going to get the deal done - it looks pretty good - and we're looking forward to getting the Balmat zinc mine up and running again."

Sources tell 7 News that 30 to 40 workers may be hired initially.

http://www.wwnytv.com/news/local/Progre ... 94231.html