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Business

China adjusts iron investment

China's Hebei Iron & Steel has reduced its overall investment commitment to Alderon Iron Ore Corp., which has one of several planned iron ore mining operations on the Quebec Labrador border.

Datebook

Wednesday, Aug. 23. Greater Victoria Chamber of Commerce board election information session, 8 to 9 a.m., at chamber office, 100-852 Fort St.

Asian order buoys Ballard

Ballard Power Systems said Thursday it has received orders for 102 fuel cell power generation systems to be delivered to Cascadiant Inc., its new Southeast Asian distributor. Financial terms of the sale were not immediately available.

Canada keeps triple-A rating with Moody's

Canada has kept its triple-A rating from Moody's Investors Service.

4-week closure at potash site

Potash Corp. of Saskatchewan Inc. said Thursday that it will shut down its Lanigan potash mine for four weeks. The inventory-related shutdown will run from Sept. 15 and Oct. 13, the company said on its website.

Six new vessels for Great Lakes

Maritime bulk carrier Fednav Ltd. will add six new energyefficient vessels to its fleet that will be built in Japan for carrying such cargo as grain, steel, sugar and iron ore. Financial terms of the deal with Japan's Sumitomo Corp.

RIM lays off 95 in Halifax

Nova Scotia's economic development minister says Research in Motion Ltd. has cut almost a quarter of its Halifaxarea staff. Percy Paris says he learned the smartphone maker is laying off about 95 employees.

Support for media deal angers CEOs

The CEOs of three multimedia companies have written to the minister of Canadian Heritage, complaining that two federally funded agencies have become involved in the $3.4-billion BellAstral deal.

Elk Falls site sold, 400 new jobs possible

Catalyst Paper says it has reached an agreement to sell its Elk Falls site in B.C. to Pacifica Deep Sea Terminals for $8.6 million in a deal the buyer says will create 400 jobs in the region.

Victoria businessman proposes $13-billion refinery near Kitimat

Victoria media baron David Black has unveiled an ambitious plan for a $13-billion refinery near Kitimat, which he said could lessen the environmental risk of transporting oilsands crude through Enbridge Inc.’s proposed Northern Gateway pipeline.