Canadian Mining Journal

Feature

Rio Algom Bullish on South America

Rio Algom Ltd. has outgrown its Canadian uranium roots, and is quickly joining the ranks of the world's major copper suppliers. Its plunge into South America is consistent with its commitment to find ...


Rio Algom Ltd. has outgrown its Canadian uranium roots, and is quickly joining the ranks of the world’s major copper suppliers. Its plunge into South America is consistent with its commitment to find and develop large tonnage, low cost deposits. With the Cerro Colorado mine and the Spence exploration project in Chile, the Alumbrera mine in Argentina and the Antamina mine development in Peru, Rio will secure its place among the world’s top-performing base metal mining companies.

The company also maintains interests in the Highland Valley Copper and Bullmoose coal mines in British Columbia; the Polaris lead-zinc mine in Nunavut; Nicolet Minerals, a zinc-copper project in Wisconsin; the Smith Ranch uranium mine in Wyoming; and a metals distribution business in North America.

Wherever in the world Rio Algom develops mines, the company applies three simple principles. First, a project must contribute economic value–to the developer, employees, neighbours, suppliers and others affected by the development. Second, it must contribute environmental value in that it must not cause irreparable environmental damage. And third, it must contribute social value, leaving the affected people better off than they were before the development began. In the words of president and CEO Patrick James, this is “the core of the definition of sustainable development–the triple bottom line of modern business.” In South America these principles are paying off handsomely.

Rio Algom Ltd. has outgrown its Canadian uranium roots, and is quickly joining the ranks of the world’s major copper suppliers. Its plunge into South America is consistent with its commitment to find and develop large tonnage, low cost deposits. With the Cerro Colorado mine and the Spence exploration project in Chile, the Alumbrera mine in Argentina and the Antamina mine development in Peru, Rio will secure its place among the world’s top-performing base metal mining companies.

The company also maintains interests in the Highland Valley Copper and Bullmoose coal mines in British Columbia; the Polaris lead-zinc mine in Nunavut; Nicolet Minerals, a zinc-copper project in Wisconsin; the Smith Ranch uranium mine in Wyoming; and a metals distribution business in North America.

Wherever in the world Rio Algom develops mines, the company applies three simple principles. First, a project must contribute economic value–to the developer, employees, neighbours, suppliers and others affected by the development. Second, it must contribute environmental value in that it must not cause irreparable environmental damage. And third, it must contribute social value, leaving the affected people better off than they were before the development began. In the words of president and CEO Patrick James, this is “the core of the definition of sustainable development–the triple bottom line of modern business.” In South America these principles are paying off handsomely.


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