Minister challenges Leader of the Opposition to produce Voisey�s Bay loopholes

Kelvin Parsons, Minister of Justice and Attorney General, has called on the Leader of the Opposition to disclose loopholes the Opposition leader insists are in the Voisey�s Bay Project.

"The Leader of the Opposition is on record numerous times stating the Voisey�s Bay Project has enough loopholes in it �to drive a truck through�," said Minister Parsons. "He committed publically to show us these loopholes. The legal documents were signed over three weeks ago, ample time to investigate further his allegations that this deal is not beneficial to the province and its people."

"The government delivered on its commitment to the people of the province that the Voisey�s Bay nickel deposit would only be developed in a manner that maximizes benefits for Newfoundland and Labrador," said the minister. "More than 70 percent of the people in this province and hundreds more businesses, associations and community leaders agree that the deal negotiated and signed provides maximum benefits to the province. Voisey�s Bay is an integral part of government�s plan for the future prosperity of this province. The Leader of the Opposition must show us how we are all wrong."

The Government and INCO signed a Development Agreement and an Industrial and Employment Benefits Agreement for the Voisey�s Bay Project on October 7 of this year. These agreements contain the undertakings and commitments that both parties agreed to in the Statement of Principles signed on June 11, 2002.

Over the life of the project, the total capital investment in the province will exceed $2.9 billion and total employment benefits are estimated to be 76,000 direct and indirect person-years. Provincial Gross Domestic Product impact over the 30-year period is estimated to be approximately $11 billion.

"This announcement confirms that this government will only sign deals that achieve maximum benefits for the people of Newfoundland and Labrador," said Minister Parsons. "It also demonstrates that this province continues to be an attractive place to invest in and to conduct business. Further, it illustrates that in the absence of a plan for governing this province, the Leader of the Opposition will use any tactic regardless of how irresponsible it is to derail the future prosperity, growth and success of this province purely for his personal agenda. Destructive criticism appears to be the singular role of the opposition rather than supporting the good things that are happening in this province."

Media contact: Edwina Bateman, Communications, (709)-729-6985.

2002 10 31                                        3:25 p.m.