Noranda Aluminum history

In 1927 it bought 80% of the stock in Waite-Ackerman-Montgomery Mines, which changed its name six years later to Waite Amulet Mines Ltd.

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.

In 1934 this company took over the parent firm’s power rights and leases on the Victoria River, only to transfer the rights to the government’s National Electricity Syndicate under a new agreement four years later. It also acquired a 63.75% interest in Compania Minera La India, for its gold mines in Nicaragua in 1937.

In 1939 Noranda bought the controlling interest in Aunor Gold Mines, Ltd., which was formed earlier that year to take over additional Porcupine property.

1944: Omega Gold Mines is acquired.

Formerly a financial analyst in Montreal with Sun Life Assurance Company of Canada, Powis joined Noranda Mines in 1955 as an assistant to the firm’s treasurer.

1964: Noranda merges with Geco Mines Ltd.

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

In addition, Noranda Sales Corporation of Canada Ltd., a subsidiary, bought a 50% interest in Rudolf Wolff & Company, a British trading firm dealing with metals and other commodities, in the spring of 1971.

The mining industry, known for caution, watched Powis march on this unusual acquisition path, then watched sales climb from C$60 million in 1972 to C$155 million two years later.

What goes up, however, must come down, and in 1976, earnings dropped to C$47 million.

In 1980 the firm had record earnings of C$408 million.

In 1981 Noranda Mines first picked up Maclaren Power and Paper Company, a newsprint, pulp, and wood-products enterprise located in Buckingham, Quebec.

By 1983 copper accounted for only 12% of sales.

Also in 1987, the company was restructured, dividing its various business segments into four subsidiaries: Noranda Energy, Noranda Forest, Noranda Minerals, and Noranda Manufacturing.

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

A ten-month strike that started in July of 1990 at Brunswick Mining and Smelting's huge zinc/lead mine near Bathurst, New Brunswick, threatened to shut down that division.

In 1991 the Canada Wire and Cable division was sold to Alcatel Cable for more than C$400 million.

"Rationale for Restructuring," Mergers & Acquisitions in Canada, December 1, 1997.

Damsell, Keith, "Noranda Spinoffs Are Hot on Debut," Financial Post, December 9, 1998.

In 1999, it acquired a stake in the Altamira copper and zinc mine in Peru.

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.