Noranda’s Exploration Strategy

Following an in-depth scenario and strategic planning exercise in 1997, Noranda’s mine production goal was set at 500,000tonnes per year of both copper and zinc metal within five years. There had been no recent discoveries, reserves were shrinking and things had to be done differently and quickly. Change is now continual in our program but here is what we did first: - Combined the exploration and business development groups - Formed teams to search for and respond to opportunity - Made our geologists more business minded and our engineers more optimistic - Went global - Set clear thresholds, farmed out the marginal properties, fast tracked the others - Focussed reconnaissance exploration where we had a clear competitive advantage - Became a “flexible” partner to both juniors and seniors