Cominco earnings dive in first half

Earnings for Cominco (TSE) in the first half of 1990 plunged to $40.3 million from the $141.3 million reported for the first half of the previous year. The drop in earnings was attributed to reduced volumes of refined lead and zinc because of operating problems at the Trail refinery, lower contributions from Highland Valley Copper and Pine Point Mines, and a drop in fertilizer prices and sales volumes.

The company stated that the signing of new labor contracts at Trail and Kimberley and the reopening of the Sullivan mine will facilitate a return to more normal operations at Trail. Repairs and modifications to the new lead smelter continue toward an October startup.006 0600,0206,0300,0008 Cominco (TSE) $000s except per-share items 6 months ended June 30 1990 1989 Revenue $685,400 $864,800 Net earnings 40,300 141,300

per share 0.49 1.74004