Record production and higher zinc prices provided the impetus for earnings of $11.5 million (29 cents per share) in the second quarter for Brunswick Mining and Smelting (TSE).
The net income represents a significant improvement over results in the second quarter of 1991, when strikes at the Brunswick mine and smelter near Bathurst, N.B., left the company with a loss of $10.1 million (26 cents per share).
Earnings for the first six months of the year were $13.8 million (35 cents per share) compared with a loss of $14.4 million (37 cents per share) during the same period in 1991.
The lead-zinc producer says problems at the smelter have been resolved and production at the Heath Steele mine has increased despite slightly lower grades. Brunswick milled an average of 10,618 tonnes per day in the second quarter.
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