Cambior Inc. - Teck Corporation: Feasibility Study Underway for Expansion of Concentrator at Niobec

Business Wire, June 1, 1999

MONTREAL--(BUSINESS WIRE)--June 1, 1999--

(ME:CBJ.) (TSE:CBJ.) (AMEX:CBJ) (ME:TEK.A.) (TSE:TEK.A.) (VSE:TEK.A.) (ME:TEK.B.) (TSE:TEK.B.) (VSE:TEK.B.) Cambior Inc. (50 percent) and Teck Corporation (50 percent) are currently preparing a feasibility study for an expansion of the concentrator at the Niobec Mine in Quebec. The feasibility study is expected to be completed during the third quarter and will review several different expansion scenarios. Construction, if the feasibility study is positive, could begin in the fourth quarter of 1999. The objective of the expansion is to allow the Niobec mine to maintain its historical market share of the worldwide niobium market.

Furthermore, the Niobec mine will put Block 3 into production during the third quarter. This Block contains proven and probable reserves of approximately 7 million tonnes grading 0.73 percent Nb2O5.

The Niobec mine is jointly owned by Teck, which operates the mine, and Cambior, which is responsible for the marketing of the ferroniobium. The Niobec mine is the only North American source of Nb2O5 in operation and the world's third largest producer of niobium. The mine has been in production since 1976, first producing niobium pentoxide (Nb2O5) and most recently producing ferroniobium, following the installation of a converter in 1994.

Ferroniobium is used by steel and specialty metals manufacturers as an alloy to enhance the physical, mechanical, chemical and thermic properties of their products. Ferroniobium has a high resistance to corrosion and is used in, among others, the pipeline and aeronautical industries.

Cambior Inc. is an international diversified gold producer with operations, development projects and exploration activities throughout the Americas. Cambior is the first gold mining company to receive ISO 14001 certification of its environmental management system. Cambior's shares trade on the Toronto, Montreal and American (AMEX) stock exchanges under the symbol "CBJ".

Teck Corporation is a diversified mining company, with interests in eleven mines producing gold, base metals, niobium and coal. The Class A and Class B shares are listed on the Toronto, Vancouver and Montreal stock exchanges.