July 14, 1999
(Executive Council)

Premier welcomes Inco Limited announcement of  a new exploration program for its Voisey's Bay property

Premier Brian Tobin said that he is pleased with the announcement today that Inco Limited will begin a new round of exploration later this summer on its Voisey's Bay property.

"This announcement is a reaffirmation of Inco's commitment to the Voisey's Bay project and speaks to the fundamental attractiveness of the development," said the premier. "Government sees this work as necessary in order that the company prove up mineral resources and plan for the project."

The $3.6 million exploration program, which was announced this morning, will result in continuing employment for 73 people and will play an important part in the planning of Inco's underground exploration program.

"I look forward to future discussions with the company on how we can cooperatively develop the Voisey's Bay property," said Mr. Tobin. "We await a proposal from the company that provides the people of the province with full and fair benefits from the development."

Media contact: Heidi Bonnell, (709) 729-3960.

1999 07 14                    4:30 p.m.