News inBrief (March 07, 1988)

Rio Algom has acquired control of the East Kemptville tin mine near Yarmouth, N.S. The mine was originally brought into production by Rio in late 1985 at a cost of $142.5 million. Rio operated the mine until late 1986 when it forfeited the mine to the banking group which had provided the original financing. When the banking group then offered to sell the mine, Rio put in a bid which was accepted by the banking group. The mine will operate under the name of Rio Kemptville Tin Corporation.