After-tax proceeds of about $2.4 million were realized by Cominco (TSE) from the recent sale of its 40% shareholding in Cominco Binani Zinc, a company which operates a zinc smelter in southern India.
Cominco invested in the company in the early 1960s in order to provide smelting capacity for zinc concentrates from its Canadian operations, notably the Pine Point mine in the Northwest Territories. The decision to divest was made when concentrates became unavailable for export.
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