Dynatec riding out downturn

Contract miner Dynatec (DY-T) is finding a silver lining in the dark clouds hanging over the mining industry.

Despite the industry downturn, the Richmond Hill, Ont.-based company says it has improved its financial strength.

Dynatec expects that low prices for metals and other commodities may bring about more opportunities for direct investments in the mining industry.

The company, which provides mining and drilling services, posted net earnings of $5.1 million (or 45 cents per share) on revenues of $144.5 million for 1998.