The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Some Flin Flonners are concerned that the company set to buy HBMS has never owned an active mine, but officials with Ontzinc Corp. say there's no reason to worry. Spokesman Landon French yesterday underscored the experience Ontzinc staff have with different mines and the fact that the Toronto-based exploration and development company plans to retain the existing HBMS staff. "Our staff and management have worked at other mining companies that were and are operational," said French in a phone interview from his Toronto office. "I think [Ontzinc] has a lot of depth in that regard." One aspect of HBMS that appealed to Ontzinc, French said, is its "strong management and experienced workforce." "The current people will stay in place," said French. But the head of the largest union at HBMS is troubled by the fact that the Flin Flon company is set to become Ontzinc's first active mine. "It should concern everyone in the community," said Tom Davie, president of the United Steelworkers of America Local 7106. Ontzinc currently owns two zinc mines, located in Nova Scotia and New York state respectively, but neither are active. Davie and others are also worried about the size of the publicly-owned Ontzinc ? Davie called it a "junior company" ? particularly in comparison to the current owner, Anglo American International SA of London, England. "We're a high-cost mine," said Davie. Again, French said there's no cause for uneasiness. "Most companies are smaller than Anglo, but I don't think that's going to be a concern," said French. "This is a seasoned group of managers and directors at this company and we think it's not going to be a problem." French stressed that Ontzinc plans "business as usual" should the anticipated deal go through, reiterating that there won't be any layoffs. That point was repeated yesterday by HBMS spokesman Tom Goodman at the Flin Flon and District Chamber of Commerce meeting at the Friendship Centre Restaurant. "It's important for us as a community to recognize what Ontzinc is saying," said Goodman, "in that they're buying the . . . company and they're fully committed to the business plans that the company has in front of them, and the workforce and management teams." See 'Deal' P.# Con't from P.# Ontzinc's deal to purchase HBMS is expected to be completed by the end of the year, and French said that will raise the profile of the purchaser to the mid-tier ranks among Canadian mining companies. "Certainly Ontzinc wants to grow and we will with this acquisition," said French. "HBMS is a solid company and has good prospects for the future, so it made a lot of sense from our company's point of view." The deal would put one of the country's best known mining operations into Canadian hands, and Ontzinc sees that as a plus. "We think that's good news for Canada, good news for the West and good news for all the communities involved," said French.
