Resource, float rigs will see boom
ST. JOHN’S, Nfld. – The Newfoundland and Labrador legislature has voted to accept a $2.9-billion deal with Inco to develop the Voisey’s Bay mineral deposit.
The 28-to-18 vote signals a new era for resource development and job creation in what has traditionally been Canada’s poorest province.
“This province will lead the country – it’s on an unmistakable, undeniable path to a position of greater prominence and self-reliance in Canada,” says Premier Roger Grimes in his final, 20-minute address to the House of Assembly.
“We’re all proud Newfoundlanders and Labradorians. We’re all proud Canadians. This is going to be one step up the rung of the ladder to get us to where we all want to go.”
Critics on the opposition benches warned an extreme mess is in the making because the vote dealt with a statement of principles and not a legally-binding commercial agreement.
The legal text will be drafted by lawyers behind closed doors later this fall.
While no target dates have been set as of yet, initially large float trucks will be needed to get the machinery and supplies to the site. Later, once the mine is operational, resource haulers will be kept busy by what is described as one of Canada’s largest mineral discoveries ever.
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