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Gold/Mining/Energy : REX DIAMOND MINING TSE:RXD

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To: The Fix who wrote (2241)	1/13/2000 10:01:00 PM
From: Mr. Oil	Read Replies (1) of 2522

Fix, Inco announce about two or three years ago that they were going to build a smelter in Argentia, Newfoundland. They, not the government made that announcement. Subsequently they changed their song saying the price of nickle had declined. Well the price of nickle has rebounded now to 'more' than it was at that time. I think it is the 'build them up and let them down game'. Eventually you will get what you want that way. The people will get fed up waiting and you get to dig it out of the ground and ship it to another INCO facility in another province. I don't begrudge other provinces getting jobs and they may well have the capacity to process the ore but not at the expense of Newfoundlanders and Labradorians when the ore comes from their province. No sir! The people who own the resource should be the primary beneficiaries of its exploitation. It is not renewable so you only get one chance to get it right. Perhaps some would rather just send equalizations payments to Newfoundland to help them keep pace with the rest of the country. Not me thanks. We develop what we own and reduce the need for equalization payments. Makes perfect sense. Ray

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