with the formation of Canadian Hunter. Asset management companies Brascan and Caisse de Dépôt gained effective control of Noranda with a $1 billion CAD investment in 1981. In 1984 Noranda Mines changed its name to Noranda Inc., as a reflection of its wide diversification. Also in 1984, the company became a large player in the electronics scrap and recycling business by purchasing Micro Metallics Corp. In 1995 Noranda gained full control of Brunswick Mining and Smelting, a zinc mine and smelting company in New Brunswick; they opened a battery recycling facility one year later. Also in 1995 Noranda entered Latin America with the purchase of a 25% stake in the Refimet smelter outside of Antofagasta, Chile. Noranda obtained 100% control in 1998 and ownership of that site aided later expansion into Latin America. Noranda announced that it would divest itself from all industries unrelated to mining and metals in 1997, and completed the transition the following year, removing itself from the forestry and oil and gas industries. In August 2000, Noranda was the top miner in Canada. The company gained a 34% stake in the huge Antamina copper-zinc mine in Peru, which opened in 2001. In 2002 Noranda opened a large aluminum foil plant in Tennessee, and expanded its recycling business with the opening of an electronic hardware recycling facility in Brampton, Ontario in 2003. Noranda expanded its aluminum business in 2004 by gaining a 50% interest in the Gramercy alumina refinery in Louisiana and associated Jamaican bauxite deposits. By 2005, the company had operations in 18 countries. 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 Salaberry-de-Valleyfield, Quebec. See also Noranda Caldera Edper Investments, which controlled