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Placer reports cut in earnings.

Lower gold prices and reduced production of base metals and silver have been identified as the primary reasons for reduced profits at Placer Dome.

The company increased gold production to 756,000 ounces during the first half of this year - up from 667,000 ounces recorded during the first half of 1990.

However, the company's net earnings dropped to $38 million from $115.9 million.

During the second quarter of 1991 Placer Dome reported net earnings of $20.4 million. The company had net earnings of $80.8 million during the second quarter of 1990.
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Title Annotation:Report on Timmins; Placer Dome Inc.
Publication:Northern Ontario Business
Date:Oct 1, 1991
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