Troy Mine operators show profit

The Daily Inter Lake

The company that operates the Troy Mine is reporting a profit for the first time, as the result of increased production and strong metal prices.

Spokane-based Revett Minerals reports operating income of $1.3 million and after-tax net income of $25,600 for the first three months of 2006.

"We are delighted to see that both Revett Minerals and the Troy Mine have achieved their first ever quarter of positive net earnings," said William Orchow, president and chief executive officer.

For the quarter, the mine processed an average of 3,142 tons a day, compared with 2,233 tons in the first quarter of last year. It sold 1.8 million pounds of payable copper and 225,679 ounces of payable silver for a reported total revenue of $7.4 million.

The Troy Mine was operated by ASARCO until it was closed in the early 1990s. It was reopened under Revett management. Revett is pursuing development of the Rock Creek mine, which would involve extracting copper and silver from beneath the Cabinet Mountain Wilderness.