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Profitable Quarter for Cambior : ArriveNet Press Releases : Business   (Site not responding. Last check: 2007-10-09) Cambior Inc. is pleased to report first quarter net earnings of $9.1 million (or $0.03 per share), a $7.5 million increase over the corresponding period in 2005. Cambior produced 123,900 ounces of gold at a mine operating cost of $329 per ounce in the first quarter of 2006, compared to 166,460 ounces at $269 per ounce for the corresponding quarter in 2005. Cambior has initiated the preparation of a pre-feasibility study, to be completed by October 2006, aimed at determining the economic and technical potential for an open-pit mining operation with combined treatment using conventional milling with a flotation circuit for the Au-Cu porphyry-hosted ore and heap leaching of the Au-rich ore in oxidized sandstones. press.arrivenet.com /business/article.php/789933.html   (2882 words)

Cambior Inc. earns $9.1 million US in Q1 net profit Cambior, enjoying the benefits of gold prices of more than $665 US an ounce, said Wednesday it's moving to shore up supplies of the precious metal. Cambior has already said gold production will be down this year to 529,000 ounces after a major mine in South America was closed last year. Cambior said its Omai Bauxite unit in South America had a net loss of $1.9 million in the quarter, mainly from lower sales as the company faced higher fuel and transportation costs out of Guyana. www.cbc.ca /cp/business/060503/b0503114.html   (592 words)

France puts brakes on Cambior mine   (Site not responding. Last check: 2007-10-09) Cambior, a Quebec-based miner that is the target of a friendly takeover bid from Toronto-based Iamgold Corp., had hoped to start construction of the $95-million project in June. It concluded Cambior has not adequately studied the effect the open pit mine would have on some 180 species of mammals resident in the area. Cambior hopes to receive the approval of the French government in time to begin construction by next July, he added. www.canada.com /nationalpost/financialpost/story.html?id=6d8576be-2109-4b3c-91df-694c710e3fd9   (538 words)

Cambior - A CareerMine Employer of Choice Cambior is a progressive, equal opportunity employer with challenging prospects. Cambior is a renowned enterprise, the fourth largest gold producer in Canada and the largest in Québec. The Cambior Concept thus helps us attract and retain people who think the same way as we do and who are motivated to realize their vision. www.infomine.com /careers/eoc/cambior.asp   (772 words)

Guyana to give stipend to laid-off bauxite miners at Cambior's Omai mine Cambior will lose between $4 million US and $5 million US during the shutdown, the company has said. Cambior has invested more than $22 million US reviving bauxite mines in Linden - a town 113 kilometres south of Georgetown - over the past two years. Cambior has stockpiled large amounts of bauxite ore and could resume work before September if price levels improve, the company has said. www.cbc.ca /cp/business/060613/b061340.html   (288 words)

PRESS RELEASE Cambior: Update Camp Caiman Project   (Site not responding. Last check: 2007-10-09) The final report from the joint mission is expected by late September and, assuming a favourable report, Cambior anticipates receiving the required operating permits in the fourth quarter of 2006. Cambior, through its wholly-owned subsidiary, CBJ-Caiman S.A.S., tabled extensive studies in support of its permit applications and the Camp Caiman Project has been the subject of several public hearings in accordance with the relevant regulations. Cambior is confident that the results of the joint mission's review, in addition to the highly regulated permitting process including public inquiries and third-party expert opinions of the environmental aspects of the project will reassure the various interested parties on the environmental, social and economic impacts of the project. www.marketwire.com /mw/release_html_b1?release_id=140780&tsource=3   (452 words)

Brooks Alberta Business News - The Brooks Bulletin   (Site not responding. Last check: 2007-10-09) While Cambior moved aggressively through acquisitions to boost output and become a mid-tier producer, the company was squeezed by a lack of capital needed to grow in Canada and abroad. Cambior CEO Louis Gignac has faced irate shareholders in the past over the gold company's disastrous hedging program which left the miner committed to selling gold into the future at levels far lower than the spot price as bullion shot up on world markets. Cambior's jewel is the Rosebel mine in Suriname, a country on the northern coast of South America, and much of the mine's value wasn't recognized, said O'Brien of Raymond James Ltd. in Toronto. www.brooksbulletin.com /news/business.asp?itemid=56525   (868 words)

Cambior Inc. - Free Market News Network Cambior has called a special general meeting of its shareholders for November 7, 2006 to vote on its proposed arrangement with IAMGOLD. Cambior's shareholders of record at the close of business on October 3, 2006 will be entitled to vote on the proposal. Assuming that Cambior's shareholders holding at least 75% of the shares present or represented by proxy at this special general meeting approve the arrangement and other closing conditions are satisfied, final court approval will be required and sought from the Quebec Superior Court on November 8, 2006. www.freemarketnews.com /Press-Release.asp?nid=9993   (624 words)

PRESS RELEASE Cambior Inc.: Omai Underground Exploration Update   (Site not responding. Last check: 2007-10-09) Cambior has established an Analytical Quality Assurance Program to control and assure the analytical quality of assays in its gold exploration. Cambior Inc. is an international gold producer with operations, development projects and exploration activities throughout the Americas. U.S. investors are urged to consider closely the disclosure in Cambior's Annual Report on Form 40-F. A copy of the 2005 Form 40-F is available to shareholders, free of charge, upon written request addressed to the Investor Relations Department. www.marketwire.com /mw/release_html_b1?release_id=150770&tsource=3   (1039 words)

Cambior When Montreal-based mining company Cambior Inc. didn't respond to an invitation to speak at a New York City tribunal on human rights and the environment, tribunal organizers figured no one from the company would be present. The tribunal was held in conjunction with Earth Summit II in New York City on June 22 and 23; the tribunal heard a number of cases, including that of the Cambior-owned Omai gold mine in Guyana. King stated that, while he did work with Cambior, he had worked with the CBC and that the CBC had followed the story, he was nonetheless speaking as an individual. www.montrealmirror.com /ARCHIVES/1997/072497/news6.html   (575 words)

globeandmail.com : globeinvestor.com : Cambior suspends ops at key gold mine amid unrest Cambior said that a significant number of employees were led into an illegal work stoppage by a nonofficial union representative. This year, Cambior expects to produce a total of 529,000 ounces from its mines in North and South America, with Rosebel expected to produce 335,200 ounces. Cambior said management is trying to restore communications with the workers as well as to restore production as quickly as possible. www.globeinvestor.com /servlet/story/ROC.20060516.2006-05-16T220421Z_01_N16183126_RTRIDST_0_BUSINESS-MINERALS-CAMBIOR-COL/GIStory   (399 words)

[No title] According to Norman McLean (Cambior's Director of Operations at Guyana's Omai Gold Mine) after total gold production of 2.9 million ounces valued at nearly $US 1 billion, Omai has never paid a cent of corporate taxes in Guyana because it has failed to turn a profit. This despite Cambior's bravado that Omai is "its most important gold producing property" representing 56% of the company's total gold production. Cambior has never stated that the mine, almost at the end of its life, is a financial basket case. www.minesandcommunities.org /Action/press167.htm   (404 words)

Bloomberg.com: Canada   (Site not responding. Last check: 2007-10-09) Cambior CEO Louis Gignac will be an adviser for at least a year to assist with integration and business development, the companies said in a statement. Cambior's bauxite mine in Guyana may be sold in the coming months, Conway, 49, said on a conference call with analysts. The Cambior takeover would be the 10th largest ever in the industry, according to data compiled by Bloomberg. www.bloomberg.com /apps/news?pid=20601082&sid=aTBiJcnTAecQ&refer=canada   (761 words)

Agreement to acquire 55.3% interest in a Peruvian gold mining company Cambior will pay the Selling Group, at closing, a cash amount of $25 million and will issue approximately 2.2 million common shares of Cambior for the Selling Group's interest and advances, and may, at some future date, pay additional consideration of up to $6 million subject to the outcome of certain contingent liabilities. Louis P. Gignac, President and CEO of Cambior, commented on the acquisition as follows: "We are pleased to acquire the control position of an established operation in Peru in an area with tremendous potential for future development. Cambior looks forward to working with its Peruvian partners to enhance the financial performance of CMPSA, and investing in further exploration and development to delineate additional mineral resources and reserves and expand production over time. www.globalmanufacture.net /home/news/cambior.cfm   (446 words)

TheStar.com - Iamgold, Cambior duo to rank 10th in gold   (Site not responding. Last check: 2007-10-09) Under the deal, approved unanimously by the board of Cambior, its shareholders would receive 0.42 of an Iamgold share for each Cambior share, creating what Conway said will be the world's tenth-largest publicly traded primary gold producer. Cambior had several suitors over the last year but started talking more seriously about getting together with Iamgold five months ago, Conway said. He noted timing was everything considering the hot bullion market and the merger-mania sweeping the industry, combined with Cambior's lacklustre share price of late, which he blamed on the market's perception of the Montreal miner's $60 million U.S. debt and struggles generating cash flow. www.thestar.com /NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1158270614045&call_pageid=968350072197&col=969048863851   (710 words)

TheStreet.com: Candid Cambior? Why Some Shareholders Feel Left Out With that kind of pressure, it's not hard to imagine that Cambior's management might go to extraordinary means, which is exactly what shareholder Asher B. Edelman alleged in a recent letter to the company. The letter from the New York-based investment house charges that the company met with a "targeted" group of shareholders who were required to enter into a "confidentiality agreements" in return for their participation. And just because Cambior is a thinly traded small-cap -- it closed unchanged at 1 1/8 today with 68,100 shares traded -- doesn't make sharing info with certain shareholders at the exclusion of others any less untoward. www.thestreet.com /comment/taskmaster/826690.html   (1029 words)

MENAFN - Middle East North Africa . Financial Network News: IAMGOLD and Cambior Agree to a US$3 Billion Transaction ... The combination has been unanimously approved by the boards of directors of IAMGOLD and Cambior and will be subject, among other things, to the favourable vote of holders of 75% of the Cambior common shares to be voted at a special meeting of shareholders that will be called to approve the transaction. The board of directors of Cambior has determined that the transaction is in the best interest of Cambior and that the consideration offered pursuant to the arrangement is fair to the Cambior shareholders and unanimously recommends that holders of Cambior shares vote in favour of the transaction. BMO Capital Markets has provided an opinion to the board of directors of Cambior that the consideration offered pursuant to the arrangement is fair, from a financial point of view, to the holders of common shares of Cambior. www.menafn.com /qn_news_story.asp?StoryId=CrqJtWdCbmda5BG   (1227 words)

[No title] To a lesser extent, it is also involved in mining and exploring for other metals and minerals from deposits and properties also located in the Americas. Cambior pursues more particularly: the exploration for and delineation of mineral deposits; development and preproduction of deposits; construction of facilities required for mining; underground and open-pit mining; drying, milling and concentrating to produce a commercial product; and marketing of minerals, metals and concentrates. In 2005, Cambior produced 638,400 ounces of gold, consistent with an average production of 608,000 ounces during the past five years. www.amex.com /equities/listCmp/EqLCCmpDesc.jsp?Product_Symbol=CBJ   (319 words)

Cambior [Archiv] - Aktienboard.com Cambior is pleased to announce the completion of a feasibility study for the Rosebel open pit gold project located in Suriname, approximately 80 km south of the capital city of Paramaribo. Cambior is reducing its hedging commitments as per the modifications to its credit agreement with its lenders announced on June 12, 2002, whereby the requirement to hedge was reduced from 70% to 35% of production from its existing gold mines until 2005. Cambior is pleased to report third quarter net earnings of $4.0 million (3 cents per share) compared to a loss of $8.5 million (9 cents per share) for the corresponding quarter last year, as a result of the excellent performance at its operations and a higher realized gold price. www.stockboard.de /archive/index.php/t-47703.html   (8666 words)

Cambior Inc. - Free Market News Network Consequently, Cambior has informed the French authorities that it intends to withdraw the permit applications filed in accordance with the mining code and the environmental code and intends to submit revised permit applications once the proper corrective measures will have been incorporated to the Project. Louis Gignac, President and CEO of Cambior noted: "We remain confident with the quality of our Project and intend to diligently address the deficiencies identified by the joint mission and submit new permit applications by year-end." Cambior Inc. was created in 1986 and has since then become an international gold producer with operations, development projects and exploration activities throughout the Americas. www.freemarketnews.com /Press-Release.asp?nid=10349   (380 words)

Cambior - Catalogue of Social Practices in the Canadian Minerals and Metals Industry Cambior Inc. signed onto the Canadian Code of Ethics and is abiding by the OECD guidelines for multinational enterprises as promoted by the Canadian government. Cambior Inc.’s policy with regard to the native or local populations is to involve and inform on the company's activity, training workers for future needs, helping support local businesses that can supply services to the operations, and putting in place programs involving the rehabilitation of the site in the event of mine closure. While respecting local customs, Cambior Inc. has been involved in the training and inclusion of women in the local work force. www.nrcan.gc.ca /mms/sociprac/cambior_e.htm   (183 words)

Iamgold, Cambior agree to $1.2B U.S. merger   (Site not responding. Last check: 2007-10-09) Louis Gignac, Cambior's CEO, said he opened the 20-year-old company's books to many potential bidders over the past year and the board finally decided Iamgold offered the best deal for shareholders and employees. Cambior shareholders will get 0.42 of a Iamgold share for each Cambior share held. Cambior stockholders, who have weathered massive price swings as the company battled an environmental crisis in Guyana and later price-hedging losses, saw their shares gain a hefty 15 per cent to $4.24 in Toronto early yesterday. www.canada.com /ottawacitizen/news/business/story.html?id=b533cc6d-28bf-436a-8905-14fca9841cd9&k=26678   (516 words)

www.mineweb.net | gold_silver Cambior, IAMGOLD merge into the world’s 10th largest gold miner   (Site not responding. Last check: 2007-10-09) ENO, NV (Mineweb.com) --Shareholders of Cambior Tuesday voted overwhelmingly to approve the takeover of the Quebec-based gold miner by Toronto’s IAMGOLD, a $1.04 billion transaction creating the world’s 10th largest gold mining company. Cambior shareholders will receive 0.42 of one common share of IAMGOLD for each Cambior share they hold, a 31% premium to the Cambior share price on September 14. Meanwhile, a delay in Cambior’s Camp Caiman gold mine permit appears to have not dissuaded IAMGOLD from its acquisition. www.mineweb.net /gold_silver/393594.htm   (414 words)

Australian Mining, Mining News, Jobs and Employment, Engineering Supplies, Minerals, Perth Australia Mining Equipment, ... IAMGOLD Corporation and Cambior Inc have announced they have agreed to a US$3 billion transaction to create a new million ounce plus gold producer, which is to continue under the name of ‘IAMGOLD Corporation’. This represents a premium of 31 percent to the closing price of Cambior's shares on the TSX on September 13, 2006 and 33 percent, based on the 20 day volume weighted average trading prices of IAMGOLD's and Cambior's shares on the TSX. Cambior CEO and President, Louis Gignac commented on the transaction, stating: "The combination of Cambior's operating and development expertise and IAMGOLD's financial strength should create enhanced returns for shareholders and provide greater opportunities for employees of both companies." www.minebox.com /story.asp?articleId=8265   (407 words)

Resource Investor - Gold & Silver - Cambior's Hedging Program Disaster Part of Its Legacy Now Cambior is set to disappear as an independent gold producer in the wake of Thursday's friendly deal in which Toronto-based Iamgold Corp. [TSX:IMG] will buy the Quebec company for more than C$1.2 billion. Cambior and Iamgold will form a Canadian-based international gold producer with 1.1 million ounces of annual production and a stock-market value of more than C$3 billion. Shares in Cambior closed at C$4.14, up 47 cents or nearly 13%, and shares in Iamgold fell to C$10.02, down C$1.47, or 12.8%, Thursday on the Toronto Stock Exchange. www.resourceinvestor.com /pebble.asp?relid=23819   (994 words)

This is it While estimated clean-up costs for the Spanish spill are as high as $2 billion; Cambior has not spent a cent to determine even the extent of environmental damage from its toxic waste. Cambior wants to tell the public to sit-down, shut-up and mind its own business. Your generous support will allow the world's poorest to stand-up to Cambior and other mining companies and make it clear that Canadians want our legacy to world development to be foreign aid, not toxic waste dumps. www.saxakali.com /CommunityLinkups/pira3.htm   (963 words)

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