Around the North

Domtar Corp. posted a profit of $48 million ($1.12 per share) in its second quarter earnings statement, Aug. 4.

Swiss mining giant Xstrata plc has seen profits slip 77 per cent through the first half of 2009 against the same period the previous year, due in part to the low price of nickel, lower volumes and rising inflation.

Vale S.A, the world's leading iron ore producer and second-largest nickel producer, has seen a 42 per cent drop in its net income between the first and second quarters of 2009, blaming in part rising costs and the weakning of the US dollar.

Community development and the improvement of local economic activity is at the centre of the Chapleau Community Revitalization Project, which has received a $50,000 helping hand from the province.

A total of $1.7 million was announced across seven projects in the Timmins region on July 30, covering a range of economic development, information and communications technology and youth internship efforts.

Armistice Resources Corp., whose McGarry Mine sits 40 kilometres east of Kirkland Lake, is targeting gross proceeds of $2.2 million with a new share offering.

Sault Ste. Marie's St. Marys Paper is back at full production. The maker of super calendar paper announced all three paper machines will be back on-line by Aug. 13.

Harold Wilson is the new president and CEO of the Thunder Bay Chamber of Commerce. He replaces Mary Long-Irwin who resigned June 30 after nine years in the position.

Since creating its Export Market Access (EMA) program in 2008, the Ontario Chamber of Commerce has spread $1 million across more than 100 companies to assist with diversification of exports.

The numbers are in for second-quarter production at Apollo Gold Corporation's open-pit Black Fox mine, 64 kilometres east of Timmins.