Merger
Noranda had bought 19.9% of rival mining company Falconbridge in 1988, which was raised to a 58.4% stake in 2002. In 2005 China Minmetals was rumoured to be interested in buying Noranda, which caused the Canadian federal government to review its foreign investment policy. In June 2005 Noranda completed a merger with Falconbridge, essentially purchasing Falconbridge outright. However, the combined company continued under the name Falconbridge Limited, ending the Noranda name as a large mining company. Brascan reduced its stake in the new company to 20%. Less than a year after completing its merger with Falconbridge, the new company was acquired by Xstrata. The Noranda name continues for companies with Noranda Aluminum, which was the spun off by Xstrata, and the Noranda Income Fund which is a large zinc refinery in Valleyfield, Quebec
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