Word: algom
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...snow-covered wilderness north of Lake Huron, Canada's uranium industry came of age last week. The occasion was the official opening of two big mines. Algom-Quirke and Algom-Nordic, in the world's richest uranium field, the Blind River camp. The mines were opened by Rio Tinto Mining Co. of Canada Ltd., a subsidiary of the 84-year-old British mining firm, Rio Tinto Co., Ltd. of London, which acquired them along with other Blind River properties from Brooklyn-born Joe Hirshhorn for $60 million in cash and securities. At peak the mines will soon...
...Algom operation is (the two mines and mills have a daily ore-processing capacity of 6,000 tons, double the largest U.S. operation), their output will be only a fraction of Rio Tinto's eventual production. The company's three Northspan mines ($275 million in government contracts) are set to start producing before the end of 1957; its Milliken Lake mine ($94 million in contracts) by March 1958. Rio Tinto's smaller Pronto mine (1,250 tons of ore daily) was opened in 1955 but ran into production troubles, now being taken care of in an enlargement...
...have trouble getting into production in the 20 months Howe allowed them. Heads of the bigger companies took Howe's statement as a fair warning that Canada and the U.S. will not go on indefinitely paying a premium price for stockpile uranium. Said Franc Joubin, president of Algom Uranium and discoverer of Ontario's Blind River field: "This is the orange light before the red, which is always welcome...
...town of Blind River is neither equipped nor located to house and supply the 8,000 to 10,000 workers and families who will be needed when the mines and mills are all at work. For the families of the 2,000 miners who will go to work for Algom and Consolidated Denison, the Ontario government has set aside a lakeside site of 396 square miles for the new town of Elliot Lake, within easy commuting distance of the mines. The mines will be taxed to support the schools, hospitals and public agencies of Elliot Lake. The townsite has already...
...Algom, unable to wait, moved into Elliot Lake this year, and began building bachelor dormitories for its construction workers, can convert them later into apartments for families. "If uranium proves to be a long-range proposition," said one of Elliot Lake's planners, "we see no reason why this town shouldn't grow to 20,000." For Pronto's executive and professional staff Hirshhorn put up a community of ultramodern ranch houses along the shore of Lake Lauzon...