The Algoma Customs and Smelting Company was established due to an anticipated mining boom in the area. Photo notes indicate "The smelter was situated near the lakeshore in a small bay where Smelter Bay Aggregate's was located in 1991." Unfortunately, the mill process was faulty and this project failed.

Due to the brevity of this operation, the property title was reportedly never registered in the company name, thus the assets reverted to the municipality when the business failed.