Noranda Finance Incorporated history

1929: Canadian Copper Refiners Ltd. is launched as a joint effort between Noranda, British Metal, and Nichols Copper.

In 1935, the firm bought a substantial interest in Pamour Porcupine Mines, Ltd., located in the Porcupine district of Ontario.

By 1936, output of metals in the province of Quebec totaled well over C$30.6 million, thanks to the development sparked by Noranda Mines.

1944: Omega Gold Mines is acquired.

Noranda Mines also acquired a controlling interest in Pacific Coast Company in 1967.

By 1968, Noranda Mines had become a widely held mining company with most of its activities centered in Quebec.

Powis worked through the cyclical, industry-wide recession, and finally, in 1973, investments began to pay off; Noranda's sales climbed 75 percent to C$121 million, a company record.

The year 1974 saw even more acquisitions, including a 55 percent stake in Fraser Companies Ltd. and Alberta Sulphate Ltd., and 38.5 percent of Frialco, a Cayman Island firm with controlling interest in Friguia, a bauxite mining company in the Republic of Guinea.

In 1976, however, earnings dropped to C$47 million.

Diversification was paying off, and to reflect its expanded activities the company changed its name from Noranda Mines Ltd. to Noranda Inc. in 1984.

Noranda Forest Recycled Papers was established in 1989 and operated at a mill with a 50-year history of recycled paper production.

Noranda executives admitted that management-labor relations were never lower, but agreements in 1991 at both subsidiaries focused on more open communications at all levels.

1995: Noranda purchases the remaining shares of Brunswick Mining and Smelting Corp.

Construction on the mine--one of the largest mining projects in the world--was completed in 2001.

During 2002, the company reported a loss of $447 million.