Word: algom
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...deal involved Algom Uranium Mines, Ltd., a company controlled by Hirshhorn and associates, which for two years has been developing rich uranium claims in a 3O-mile-square tract of land in Canada's Blind River summer-resort area, just north of Lake Huron. Under the deal a group of international mining and financial interests, headed by Britain's Rio Tinto Co., Ltd. (whose chairman...
Earl of Bessborough, onetime Governor General of Canada), will put up $57.6 million through stock purchases and loans. With the money Algom will build two uranium processing mills at Quirke Lake and Nordic Lake by 1956, each with a capacity of 3,000 tons...
...Algom's production will go to the Canadian government. Last week the company announced that it had won a contract to sell $207 million worth of uranium to the government by Dec. 31, 1961, almost three times the amount of the contract given Gunnar Gold Mines, the biggest current potential producer...