Noranda looks at scrap copper supply. (Nonferrous).A spokesperson for Noranda Noranda: see Rouyn-Noranda, Que., Canada. Inc., Toronto Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing , says the company is planning to invest in a new recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. facility in Canada that will be dedicated to providing its Home, Quebec, smelter with a new source of recycling-derived material. The proposed recycling facility will apparently be geared toward handling used electronics. The site, not yet announced, will be similar to the Micro Metallics facilities the company presently operates in the U.S, in Canada and Tennessee Tennessee, state, United States Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. . The company is examining ways to make its Home smelter more cost effective, having recently met with Le Syndicat des Travailleurs de la Mine Noranda, the union representing employees at its Home smelter, who have been on strike since June of 2002. Noranda says some 125 jobs will need to be eliminated. The smelter's profitability has been affected in 2003 by low treatment charges for copper, the Horne's main source of revenue. Since the beginning of the strike, treatment charges for copper concentrate have fallen by 15 percent and treatment charges are 20 percent lower in 2003 than what was received in 2001. Noranda is also committed to improving revenues at the Home smelter. In addition to studying electronics recycling as a source of material, the company is also planning to invest $10.3 million in exploration activities aimed at finding new copper-zinc deposits in Quebec. In 2002, the Home smelter treated 689,000 metric tons of material containing copper, 44,700 metric tons of recycled precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. and produced 147,020 metric tons of copper anodes and 510,175 metric tons of sulphuric acid sulphuric acid: see sulfuric acid. . |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion