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North American Palladium Ltd.

09:51 AM EST - North American Palladium Ltd. : announced that due to declining metal prices it will temporarily place its Lac des Iles Mine, or LDI, in Thunder Bay, Ontario on a care and maintenance basis effective October 29, 2008. The closure will result in the layoff of approximately 350 employees. North American Palladium Ltd. shares T.PDL are trading down 24 cents at $1.56.