Despite record zinc recoveries from Brunswick Mining and Smelting (TSE) No. 12 mine near Bathurst, N.B., lower zinc prices have slashed the company’s first quarter earnings by 60% from last year’s figure. Brunswick’s first-quarter net earnings were $7.3 million (19 cents per share), compared with $18.3 million (51 cents per share) in the same period of 1989.
Zinc prices were down to an average of US$1,450 per tonne from record high levels of more than US$1,600 at the beginning of 1989.
A 3-week shutdown of Brunswick’s smelter, which in turn forced the closure of the fertilizer plant, also had a negative impact on earnings results.006 0508,0206,0304,0008 Brunswick Mining and Smelting (TSE) $000s except per-share items* Quarter ended Mar. 31 1990 1989 Revenue $89,316 $105,901 Net earnings (loss) 7,262 18,261
per share 0.19 0.51 *US dollars004
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