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Gold/Mining/Energy : Winspear Resources

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To: .Trev who wrote (22150)	6/29/1999 8:44:00 AM
From: Berry Picker	Read Replies (1) of 26850

NWT get a little nasty guys..... Globe says NWT breaks off talks with Aber partner Aber Resources Ltd ABZ Shares issued 45,802,883 Jun 28 close $12.75 Tue 29 Jun 99 In the News The Globe and Mail reports in its Tuesday, June 29, edition that the government of the Northwest Territories is putting pressure on RTZ Corp. to cut and polish locally some of the diamonds to be extracted at the proposed $875-million Diavik mine. The Globe's Allan Robinson writes that in an effort to get those "value added" industries, the government broke off talks on June 15 with Diavik Diamond Mines, the joint venture company which is 60-per-cent owned by RTZ and 40 per cent by Aber Resources. The government and several aboriginal organizations are negotiating a socio-economic agreement with Diavik Diamond Mines covering employment and business opportunities along with the means of monitoring and mitigating community, cultural and social impacts. That agreement has to be completed before a mining licence can be obtained. Aber has agreed to put in writing a commitment to cut and polish a portion of the diamonds in the NWT of a certain size and quality. Aber is entitled to receive 40 per cent of the diamonds produced at the mine.

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