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Business Watch
Lalor mine fast-tracked
TORONTO -- HudBay Minerals Inc. expects to spend about $163 million this year on the Lalor mining project near Snow Lake, Man., the miner said Wednesday as it outlined details of its $1.24-billion capital plan for the year.
Lalor, home to significant gold, zinc and copper deposits, has been put on a fast track to production by HudBay. As of Nov. 30, the company had spent almost half the estimated $704 million it will cost to complete.
HudBay said it's on track to begin commercial production of the first phase of Lalor in the second quarter of this year while the second phase is scheduled for commercial production in the first half of 2015.
Construction of Lalor's main ventilation shaft is expected to push up HudBay's production of zinc concentrate this year, compared with last year. The company said Wednesday it expects to produce between 85,000 and 100,000 tonnes of zinc concentrate from all sources in 2013, up from 80,866 tonnes in 2012.
Fantasy sports TV a reality
GATINEAU, Que. -- Fight Media Inc. has been given approval to operate a fantasy sports TV channel, allowing viewers to create, trade and discuss players on imaginary teams.
Fight Media is controlled by Leonard Asper, son of the late Izzy Asper, founder of CanWest Global.
The Canadian Radio-television and Telecommunications Commission approved the application for a broadcast licence to operate The League specialty channel.
Fight Media's flagship programs would consist of studio call-in and talk shows to allow viewers to discuss their fantasy picks and drafts, the CRTC said Wednesday in a news release.
Viewers would also be provided with real-time fantasy statistics and fantasy pool standing and rankings.
However, the new channel won't be able to devote a lot of time to live professional sports.
A condition of the licence is not more than 10 per cent of all programming during the broadcast month be comprised of live-event professional sports programming, the CRTC said.
Cheaper iPhones on way
NEW YORK -- A published report says Apple may introduce a cheaper iPhone in an effort to reclaim some of the sales the company has been losing to less expensive handsets running on Google's Android software.
Wednesday's story in The Wall Street Journal speculates Apple could lower the iPhone's price by equipping the device with an exterior that costs less than the aluminum housing on current models.
The cheaper iPhone could come out as early as this year, or the idea could be scrapped, as has previously happened. The Journal cites unnamed people briefed on the matter.
-- from the news services
Republished from the Winnipeg Free Press print edition January 10, 2013 B7
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