Cambior Inc. - announcement.MONTREAL--(BUSINESS WIRE)--March 26, 1997--CAMBIOR (ME; TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ; AMEX AMEX See: American Stock Exchange : CBJ CBJ Columbus Blue Jackets (NHL team) CBJ Central Bank of Jordan CBJ Conflict-Directed Backjumping CBJ Circuit Board Jack CBJ Code-Breakers Journal CBJ Class Broker for Java CBJ Color Bubble Jet ; CBJ.WT) -- Cambior Inc. ("Cambior") announces that it was served today with a "Motion for Authorization to Institute a Class Action" by Recherches Internationales Quebec ("RIQ RIQ Reconstructed Image Quality "). RIQ claims to represent some 23,000 individuals in Guyana and alleges that such individuals are entitled to compensation for damages as a result of a tailings dam failure that occurred at the OMAI OMAI Out-Cell Multiple-Access Interference mine, in Guyana, in August 1995. The Motion seeks authorization from the Superior Court of Quebec The Court of Quebec is the Provincial Court of the Canadian province of Quebec. The Court is divided into the following areas: The Civil Division The Criminal and Penal Division The Youth Division External links
Cambior views the Motion as totally unfounded. A Commission of Inquiry mandated by the Government of Guyana to examine these matters tabled its Report in January 1996 that included the following findings: "We have come to the conclusion that at no time was the contaminated water a serious threat to life. Nor was there any credible evidence that the spill in any way posed a hazard to the health of OGML (OMAI) workers or the riverain residents." OMAI Gold Mines Limited received permission from the Government of Guyana to resume commercial production at the OMAI mine on February 4, 1996, and operations have continued uninterrupted since that date. The motion remains open to challenge in numerous other respects, and Cambior has instructed its attorneys to contest it vigorously. Cambior Inc. is an international diversified gold producer with operations, development projects and exploration activities in Canada, the United States, Mexico, the Guiana Shield, Peru, Argentina and other countries in the Americas. Cambior shares trade on the Toronto, Montreal and American (AMEX) stock exchanges under the symbol "CBJ." CONTACT: Cambior Inc. Geoffrey King (Media Relations), 514/878-8206 514/878-3324 (fax) http://www.cambior.com info@cambior.com or Cambior Inc. Robert LaValliere (Investor Relations Investor relations The process by which the corporation communicates with its investors. ), 514/878-1282 514/878-3324 (fax) or Cambior Inc. Victoria Putnam (Investor Relations), 514/878-3166 514/878-0635 (fax) |
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