Another holding period for Kitimat

The modernization of the Alcan Works plant in Kitimat is on hold once again, this time as current owner Rio Tinto keeps an eye on the wild mood swings of the global economy.

The Globe and Mail is reporting today, that Rio Tinto has decided to put off any final go ahead on the program for the time being, instead it will provide 300 million dollars in funding to “advance the project”, while it keeps a watchful eye on the crashing nature of the commodities market of late. The sudden downturn of fortunes on the commodities markets has Rio Tinto reconsidering all of its capital plans, framed in the new reality of the economy…

(from  the blog a town called podunk, click on the link below to see the entire article … 6145749851 )-