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Business Briefs Jeanne Gagnon E-mail: business@nnsl.com Monday, June 21, 2010 Previous columns
Community consultation
Kinngait/Cape Dorset - Baffinland Iron Mines Corporation, which is developing the $4.1 billion Mary River iron ore project located 160 km south of Pond Inlet, will consult with the community June 25 about its proposed shipping route through the Hudson Strait. "The hamlet will always support what the community concerns are," said Olayuk Akesuk, the hamlet's senior administrative officer. "It's really up to the community how we should be approaching Baffinland from the hamlet side." Summer drilling program announced Whati/Lac La Martre - Fortune Minerals Ltd. announced the start of its summer drilling program at its gold-cobalt-bismuth-copper project located 50 km north of Whati. About 30 employees and contractors are working at the site, including 11 from nearby Tlicho communities, the company said. "We know that we'll add additional reserves. How much more we're going to add, we really don't know until we get the results," said Robin Goad, the company's president. The NICO project is currently undergoing an environmental assessment for a mine and concentrator in the territory, but the Tlicho government has asked for a halt to that process, saying Fortune's application to proceed with development is inadequate. The Mackenzie Valley Environmental Impact Review Board is expected to make a decision on whether that halt is warranted after July 2. NICO contains reserves of 31 million tonnes including 907,000 ounces of gold, 82 million pounds of cobalt and 109 million pounds of bismuth. Open Skies declaration signed Vancouver - Alberta Premier Ed Stelmach, Manitoba Premier Greg Selinger, B.C. Premier Gordon Campbell, Saskatchewan Premier Brad Wall, Yukon Premier Dennis Fentie, Northwest Territories Premier Floyd Roland and Nunavut Premier Eva Aariak signed an open skies declaration at the Western Premiers' Conference held last week in Vancouver. The declaration asks the federal government to expand the list of countries with whom it has an agreement. "Nunavut's interest in the Open Skies Declaration is whether a federal agreement with Denmark might support an air link between Iqaluit and Greenland," Aariak stated in a press release.
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