Status of feasibility review with Alcoa regarding the Lower Churchill Hydro Project 
and aluminum processing facilities

Mines and Energy Minister Lloyd Matthews today provided an update on the status of the feasibility review with Alcoa. "As follow-up to the recent statement I presented in the House of Assembly, I would like to advise the people of the province that I met with senior officials from Alcoa last week to discuss the results of the feasibility review that they provided at the end of November." 

The purpose of the meeting was for Alcoa to formally present their findings, discuss the results of the work completed to date and clarify certain issues. "We had a good meeting and, as a result, we now have a better understanding of Alcoa's position on some of the key issues at stake in assessing the feasibility of the development under consideration. We will be reviewing Alcoa's findings over the next several weeks with a view to determining where we go from here. I will provide a further public update as soon as possible thereafter."

In July, Alcoa, a world leader in the production of primary aluminum, fabricated aluminum and alumina, along with the Government of Newfoundland and Labrador, and Newfoundland and Labrador Hydro Corporation, undertook the joint feasibility review of developing the Lower Churchill Hydro Project and establishing aluminum processing facilities in the province. 

Media contact: Tara Laing, Communications, (709) 729-4890.

2001 12 17                            1:55 p.m.