Golden profit at Cambior

Substantially increased gold production in 1993 helped Cambior (TSE) record its highest revenue since the company’s inception in 1986.

Gold output rose 46% to 518,083 oz. last year and revenue was 50% higher, at almost $280 million.

Cambior has a control position in the Omai mine in Guyana which yielded 206,537 oz. in 1993 after entering production in January of that year. Omai’s output represents 40% of the company’s 1993 total.

Cambior’s net earnings for the year amounted to $14.9 million, compared with a loss of $4.4 million for 1992.

The company’s cash cost per oz. rose to US$250, compared with US$248 in 1992. Cambior projects total gold output of about 580,000 oz. in 1994. Red ink at Brunswick

Three factors prevented Brunswick Mining & Smelting from earning money last year: low metal prices, closure of its lead smelter and a one-time charge for an employee reduction program.

The Toronto-listed company suffered a fourth-quarter loss of $156,000, which contributed to a year-round net loss of $22.7 million, compared with earnings of $16.2 million the previous year.

The failure of an electrical transformer in late December reduced the average daily processing rate to 9,939 from 10,475 tonnes during the same quarter in 1992. Nevertheless, the company set new quarterly records with zinc grades and recoveries at 53.1% and 86%, respectively.

Operations at the lead smelter were suspended for six weeks, effective Nov. 22. Operations at the Heath Steele zinc and lead mine have also been on hold, since July 4 of last year.