Donald Lindsay, president and CEO, Teck Cominco Ltd.
A slump in commodity prices and dramatic shifts in exchange rates that put Canada’s dollar neck and neck with the U.S. currency for much of last year made for extraordinary circumstances in the mining sector, which has otherwise been enjoying booming demand for its products.
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This year’s Top 100 numbers back up economists’ claims that B.C. is well positioned to weather any economic downturn associated with the U.S. housing crisis. Aggregate revenues for the Top 100 companies were $122.2 billion, an increase of 8.9 per cent over last year’s tally. The surge outpaces the 6.2 per cent rise in the province’s nominal GDP. And the threshold for making the list this year inched up to $223.9 million in annual revenues, $40 million more than last year.
A glance at the companies reporting the strongest growth over the past year shows just how broad-based the momentum is for B.C.’s economy.
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The contribution of B.C.’s top miners to the province’s economy jumped $4.2 billion in one year.
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Don Lindsay, Teck Cominco, 2004 revenues: $3.4 billion, Rank: 7 in TOP 100 more...
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