Mining executives among top earners

A list of Canada’s best paid corporate executives in 1990 would include Chairman Donald Phillips of Inco (TSE) and President Anthony Petrina of Placer Dome (TSE). Information on executive salaries is available from the U.S. Securities and Exchange Commission (SEC) in Washington; the SEC requires publicly listed companies in the U.S. to include the salary levels of their top executives in their filings.

According to the SEC, Phillips took home about $1.8 million in 1990 ($602,550 in base pay plus bonus), while Petrina received $910,827 (base pay, $878,500).

Other well paid Canadian mining executives last year included Corona (TSE) President Peter Steen, who took home $784,330 (base pay, $626,832), and Rio Algom (TSE) Vice-Chairman and Chief Executive Officer Ray Ballmer, who cleared $717,750 (base pay, $455,000).

While the SEC requires Canadian companies listing in the U.S. to divulge salary information, no such disclosure regulations for the same companies exist in Canada.

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