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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: zinc-man who wrote (10499)12/16/2002 8:43:29 AM
From: Al Collard   of 11802
 
RDV-t...in the news:

Van Sun says Redcorp gains approval for B.C. mine

The Vancouver Sun reports in its Saturday edition that the B.C. government
issued a long-awaited permit Friday for the controversial Tulsequah Chief
mine, drawing cheers from industry but condemnation from aboriginals and
environmentalists. The Sun's Scott Simpson writes that mine proponent Terry
Chandler of Redcorp Ventures was "thrilled" about support for the
$150-million project and the Mining Association of B.C. called it welcome
news for a shrinking industry. Redcorp's Redfern Resources subsidiary has
been seeking a permit to develop a mine for 15 years and it is the first
major new mine approved in B.C. since Kemess in the mid-1990s. The site
boasts about nine years worth of reserves of copper, lead, zinc, gold and
silver. While Mr. Chandler hopes the approval by Sustainable Resources
Minister Stan Hagen and Energy and Mines Minister Richard Neufeld removes
the mine's biggest hurdle, others are less certain. Natives living in the
remote northeastern valley where the mine site is located say they continue
to have significant concerns about environmental, societal, wildlife and
fisheries impacts. Environmentalists, meanwhile, are fighting the project
in court.
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