REPORTING · 17th February 2010
UPDATE 4:15 pm Feb 17
A luncheon meeting was held today at Rio Tinto Alcan’s offices at the City Center Mall in Kitimat where we have been told they announced a new investment in the Smelter modernization. KTIDS (Kitimat Terrace Industrial Development Society), TEDA (Terrace Economic Development Authority), the Kitimat and Terrace City Councils along with representation from the Chamber of Commerce, were present.
We were informed Jacynthe Côté, chief executive officer and Pierre Chenard, RTA vice president were present as was Paul Henning.
Media spokesperson Collean Nyce advised yesterday the meeting was closed to the media stating, “It is just a social with stakeholders”.
Reports back to us are RTA representatives at the meeting announced they are committing $100 million to facilitate the continuing progress towards the modernization. Two items on the list for this expenditure are for an anode storage building, a new construction camp as well as funding the construction of the road to this new camp.
There has not been a media release as of the posting of this article.
Collean Nyce responded to our request for further details and confirmation, writing, "There was no announcement today. It was a visit by our Rio Tinto Alcan CEO and our Rio Tinto Alcan President North America. [...] In regard to the KMP work for 2010 is that we are going out to tender for the Anode Pallet storage facility - which is a big and important component of KMP. We didnt give a public dollar figure for that because it is going out for bid." contining, "The camp work was briefly mentioned as being in the upcoming KMP plan - perhaps later this year or next. It will be constructed in the same location as before, north of the current smeltersite."
A good sign.
Comment by Mike Forward on 19th February 2010
As expected with markets recovery and Rio Tinto managing to slice its debtload, their capital spending is kicking back into gear. A good sign which will hopefully stimulate Kitimat's economy, if only for the moment.
Comment by Gerry on 19th February 2010
As we await with bated breath....
Here we go again!