FILED BY NORANDA INC.
                                  PURSUANT TO RULE 425 UNDER THE SECURITIES ACT
                                  OF 1933
                                  SUBJECT COMPANY: FALCONBRIDGE LIMITED
                                  COMMISSION FILE NO.: 33-95280

03/09/05

MARCH 9, 2005

To all Noranda and Falconbridge employees,

Earlier today we announced that the Boards of Director of Noranda and
Falconbridge have agreed to combine the two companies. We are very pleased
to share this news with you, because we feel it provides an excellent
opportunity for growth and success.

When the merger is complete following regulatory and shareholder approvals,
our new company will be named NorandaFalconbridge.

Along with this letter, we are also providing you with news releases from
Noranda and Falconbridge that explain the combination in greater detail, as
well as a Question and Answer document.

We are hosting a webcast conference call for the investment community at
8:30 am Eastern Standard Time (EST) today. You are welcome to listen to
this call, which can be accessed through the link on the homepages of both
www.noranda.com and www.falconbridge.com.

We will also host a conference call for employees this morning at 11:00 am
EST to further explain today's news and respond to your questions. Your
site and office management have been provided the call-in number and will
be coordinating employee attendance. The call will also be recorded and
posted on the corporate intranet, so that employees who are unable to
participate will be able to listen to it at a more convenient time.

In summary, here's what has been announced today:
o    The Boards of Noranda and Falconbridge announced this morning that
     they have agreed to combine the two companies. The new company would
     be named NorandaFalconbridge.
o    Noranda also announced an Issuer Bid (or share buyback program) where
     Noranda shareholders can sell their common shares and receive junior
     preferred shares in return. Noranda's majority owner, Brascan, has
     indicated it will tender its common shares in Noranda.
o    This means Brascan's position in Noranda will be reduced to between
     16-26%, compared to its current 42% interest.
o    After the Issuer Bid, each Falconbridge shareholder (other than
     Noranda) will receive 1.77 common shares of Noranda shares for each
     Falconbridge share that they own.
o    Each Noranda shareholder will continue to own Noranda shares. The
     combined company will be called NorandaFalconbridge.

This is an exciting development for our companies. The creation of
NorandaFalconbridge will allow us to combine our strong portfolios of
assets and create a critical mass that will be beneficial in executing our
strategies, our exploration programs, and in developing our pipeline of
growth opportunities. We will become one of the largest base metals
companies in North America.

We will also create a simplified ownership structure. There will be one
company called NorandaFalconbridge, which will be widely-held by common
shareholders in the stock market.

This merger will be seamless to our organizations. Noranda and Falconbridge
undertook a comprehensive integration effort beginning in 2001, so
combination of the companies' functions, where necessary, has largely been
addressed. It's business as usual.

In addition, all discussions to sell Noranda to China Minmetals or other
potential bidders have been ended. That option is now off the table and we
are focusing our efforts on the creation of the new NorandaFalconbridge.

The merger process will take several months to complete. During this time,
we should continue to operate with a "business as usual" approach, with
emphasis on working safely and meeting business plans.

Thank you for your continued efforts. We will keep you up-to-date as the
process evolves.

Sincerely,

Derek Pannell and Aaron Regent


Investor Information

This communication is being made in respect of the proposed combination
(the "Merger") involving Noranda Inc. and Falconbridge Limited. The
proposed Merger will be completed by way of a share exchange take-over bid
under which Falconbridge common shareholders (other than Noranda) will be
offered 1.77 Noranda common shares for each Falconbridge common share. In
connection with the proposed Merger, Noranda will prepare and file with the
U.S. Securities and Exchange Commission (the "SEC"), if required, a
registration statement on Form F-8 containing a share exchange take-over
bid circular to be delivered to the shareholders of Falconbridge. Noranda,
if required, will be filing other documents regarding the proposed Merger
with the SEC.

INVESTORS ARE URGED TO READ CAREFULLY THE SHARE EXCHANGE TAKE-OVER BID
CIRCULAR WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED
WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

Investors will be able to obtain the documents filed with the SEC free of
charge at the SEC's website (www.sec.gov). In addition, documents filed
with the SEC by Noranda may be obtained free of charge by contacting
Noranda at 416-982-7111.