Word: tinto
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Whither Barataria. At the government's request, a three-member committee, headed by Sir Val Duncan, chairman of Rio Tinto-Zinc Corporation Ltd., has been studying British representation abroad for a year. Their report, just released, may upend yet another British institution. Comparing Britain to "a man who decides that his requirements no longer justify the upkeep of a Rolls-Royce," the committee recommended "a significant reduction" in the size of the diplomatic service, a 50% slash in the size of overseas information departments, and a one-third cut in the number of armed-service attaches. Moreover, said...
Soon this is going to change. After years of dawdling, the Labor government finally announced its plan to help set up a domestic aluminum industry. British Aluminium Co. .(partly owned by Reynolds Metals of the U.S.) and the British mining concern, Rio Tinto-Zinc Corp., received the go-ahead to build two smelting plants. They are expected to produce an annual 224,000 tons of ingots by 1971 and save $100 million a year on imports...
...Tinto will build its 112,000-ton smelter on the Welsh island of Anglesey at Holyhead. As the "buying-in" price for a cheap power deal, it will in vest $79 million in the new Dungeness nuclear-power station in Kent. British Aluminium got the coveted site at Invergordon in the Highlands, the last undeveloped deep-water port in the United Kingdom. Its 112,000-ton smelter there will be fueled at the cheap rate in return for a $70 million investment...
...years from now the new plants, plus the increased smelting capacity of Alcan Aluminium Ltd., should be able to put 348,000 short tons of ingots on the market annually, but some analysts are predicting an aluminum glut before then. Sir Val Duncan, chairman of Rio Tinto, disagrees. "If you look at it globally, that must be nonsense," he says...
...successful businessman-politician with credentials that make him a man of admired organizational ability. Canadians remember him as the youngest member of Louis St. Laurent's Cabinet in the late 1940s and early '50s; he then left politics to take over the presidency of the Rio Tinto Mining Co. of Canada, Ltd., and only re-entered politics this fall at Pearson's pleading...