Despite a $29-million profit in the final quarter of 2001, Placer Dome Inc., the nation's second-largest gold producer, still reported an overall loss in 2001. Placer Dome reported a loss of $133 million, or 41 cents a share, for the year, while in 2000 the company reported a loss of $92 million, or 28 cents a share. The company decided to write off its investment in the unprofitable Getchell mine in Nevada in the third quarter, taking a charge of $292 million, which reflects the annual loss the company reported. Placer Dome, which operates the Dome mine in Timmins, was successful on a number of other initiatives, including the development of new deposits at existing mines, a company official says.
