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Gold/Mining/Energy : A Yukon Mining & Exploration Chat Group -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (15)	2/21/1998 4:59:00 PM
From: The Lone Ranger	Respond to of 59

Although McIntyre is playing politics in his criticism of Protected Areas, he does indicate some positives: PAGE 1 CBC 12:30 P.M. NEWS THURSDAY, FEBRUARY 19, 1998 2. The Yukon Chamber of Mines is predicting an overall downturn in the mining industry this year. Low metal prices and uncertainty over land use because of government initiatives like the Protected Area Strategy are expected to take a bite of mining company budgets. However, the chamber says there is a silver lining in advanced exploration with some new mines on the horizon. (Brian Boyle) Yukon Chamber of Mines president Rob McIntyre is expecting a less than spectacular year for miners in the territory. (McIntyre) "The overall expenditure probably will be down some and that's principally because the grass roots exploration component of it will drop of considerably." He is expecting a lot of money will be spent on advanced exploration at some of the bigger mineral discoveries of the last few years but he says actually mining of the discoveries may have to wait for improvements in metal markets. (McIntyre) "The other bigger projects that are waiting in the wings, still going through the permitting process, I don't think we'll see anything for some time from them and, of course, the big one is Faro and I refuse to hazard a guess as to its fate." On the bright side McIntyre says some of the newer mines are expected to flourish and others could open this year. (McIntyre) "I think we can see production continuing for Brewery Creek and BYG and over the next while I can also see a possible start up for Minto and on the bright side I would say there's a good chance for start up at United Keno Hill Mines." McIntyre says the biggest factor facing the industry is a world wide downturn in some metal prices. He says that's hurting investment in basic prospecting. That has long been the core of the Yukon mining industry.