Falconbridge Limited

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Corporate body

Authorized form of name

Falconbridge Limited

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        Description area

        Dates of existence

        1982 - 2006

        History

        In 1982, Falconbridge Nickel Mines (1928-1982) became Falconbridge Limited. Under Superior Oil ownership, the company focused on global expansion in the mining industry. During the early 1980’s, the company suffered a deficit (a loss of $81,000,000 in 1982) until the fourth quarter of 1983. In 1985, Superior Oil was purchased by Mobil who then sold their Falconbridge Limited shares to Dome Mines. Falconbridge also acquired Kidd Creek Mines (gold, silver, copper and zinc). In 1988, Falconbridge Limited was sold to Amax Incorporated for $2,420,000,000. In 1989, Noranda Incorporated and Trelleborg AB jointly acquired Falconbridge Limited and the company became private.

        In 1994, the company began selling stocks again to raise capital after another loss in 1993. As a result, it regained its public company status. In 1996, Falconbridge Limited commenced a growth plan which over a 15 year duration doubled nickel production. Falconbridge developed a nickel and copper mine in Raglan, Quebec and a copper mine in Collahuasi, Chile.

        In 2006, Xstrata acquired Falconbridge Limited for $22,000,000,000 and the new company became Xstrata Nickel.

        Falconbridge Limited Presidents
        William James, 1982-1989
        Alex Balogh, 1989
        Franklin Pickard, 1990-1996
        Alex Balough, 1996
        Oyvind Hushovd, 1996-2002
        Derek Pannell, 2002-2006

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        Related entity

        Falconbridge Nickel Mines Limited (1928 - 1982)

        Identifier of related entity

        002

        Category of relationship

        temporal

        Type of relationship

        Falconbridge Nickel Mines Limited is the predecessor of Falconbridge Limited

        Dates of relationship

        1928 - 1982

        Description of relationship

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        Authority record identifier

        002

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