Citing low mine production and weak zinc prices, Brunswick Mining and Smelting recorded flat earnings of $3.55 million for the third quarter ended Sept 30. These earnings include an extraordinary gain of $3.5 million. This compares with a loss of $2.8 million during the corresponding period last year.
The poor performance of the past quarter is attributed to lower mine production in July and August from the company’s operations near Bathurst, N.B. Also, zinc prices declined due to an end of general industry labor disputes during the period. Lead prices remained firm, Brunswick reports. Company directors have declared a 5 cents dividend plus an extraordinary 5 cents dividend per share payable on Dec 16 to shareholders of record on Nov 19.
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