Skip to content

Mining giant appeals to city council for tax breaks (5/02)

Taxes were on the minds of Falconbridge senior mining executives during Timmins city council budget deliberations.

Taxes were on the minds of Falconbridge senior mining executives during Timmins city council budget deliberations. The mining giant's senior vice-president Warren Holmes urged the city to hold the line on tax hikes when businesses and residents have less ability to pay. He asked the city to avoid any project that places the municipality in debt and does not bring about direct jobs. Later, during a mid-May budget session, Kidd Creek mine manager Dan Gignac was unsuccessful in soliciting answers from local politicians on why the city was appealing Kidd's 2001 tax assessment based on the province's new formula. Gignac says under the province's new formula, Falconbridge will pay $2.5 million more in taxes above the $7 million it pays now, and this will affect the sustainability of the Timmins operations.