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NLIS 2 June 24, 2003 (Mines and Energy) Minister Noel speaks at Voisey�s Bay and Beyond Conference Mines and Energy Minister Walter Noel today opened the 8th annual Voisey�s Bay and Beyond Conference in Happy Valley-Goose Bay. This year�s conference theme is entitled "Seize the Opportunities". "Since we negotiated the Voisey�s Bay agreement with Inco, there has been a great deal of progress," said Minister Noel. "It�s a very exciting time for Labrador, and indeed our province. "Inco has already invested approximately $55 million in its sites at Voisey�s Bay, Argentia, and St. John�s, and employed approximately 250 people. Last year, a 12-kilometre access road from the port to the mine and mill-concentrator site was completed, plus work was done on the camp site and a temporary dock and runway was installed. "Construction work for this year will include upgrading and expanding infrastructure at the construction camp, a communications system will be installed, land will be cleared at the site of the mill/concentrator, more roadways will be built and a permanent airstrip is scheduled to be completed. This summer, the Voisey�s Bay Nickel Company (VBNC) expects to have as many as 500 people employed at the site. "All of this work and investment will be an enormous economic boon to our province. The impact on the provincial Gross Domestic Product over the 30-year project period is expected to be $11 billion. Total capital investment over the life of the project will be $1.9 billion invested in Labrador and $1 billion on the island � 76,000 person years of direct and indirect employment is expected to be generated. "VBNC will undertake an extensive program in an effort to expand the life of the Voisey�s Bay Project. With further exploration and development it is highly anticipated that we�ll be mining nickel in Labrador for many more years to come. "In addition to the work in Labrador, new activity is taking place at Argentia to facilitate the construction of the biggest research and development project ever to take place in Atlantic Canada. The hydromet demonstration plant is scheduled to commence its design, engineering and construction next year and be operational in 2006. "The Inco Innovation Centre, to be constructed at Memorial University, will train many of the skilled professionals required for this project and will be a hub for research and development in this technical field. "Government will continue to monitor the progression of this project to ensure that Newfoundlanders and Labradorians remain the primary beneficiaries of this development." Media contact: Darrell Mercer, Communications, (709) 729-5777 2003 06 24 12:20 p.m. |
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