Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Nova Scotia’s natural resources minister Cleve Higgins will have to decide soon whether an Australian mining conglomerate or a Christmas-tree family farm has the rights over eight-hectares of land in Moose River, near Middle Musquodoboit.
Atlantic Gold of Halifax, a division of DDV Gold of Australia, has applied to expropriate the land owned by Higgins Family Christmas Trees to develop an open pit mine in area.
But Family spokesman Cleveland Higgins, told CBC Radio Nova Scotia on Monday the company is abusing expropriation law in its application.
“The company is seeking to expropriate the land under a provincial law that provides for such a move when there is unclear title, or when a property owner is negotiating in bad faith to push the price up,” said Higgins, as reported by the local paper The Chronicle Herald.
But DDV Gold said its project would invigorate the industry and generate several new jobs. The project has cost DDV $140 million and it is schedule to start operations in 2013.
Continue reading at The Chronicle Herald’s web page.
(Photo: Nova Scotia from Space, Wikipedia)
2 Comments
Thestarv
It would be a sad day for Canada in general if this were allowed to happen. I work in the mining industry and I feel that any mining project is a worthy venture, but not at the expense of another mans livelihood, or landholdings. If the land is being used and holds sentimental value, then the owner should be allowed to decide if he is willing to part with the land or not. In this case expropriation is stealing if the owner is not willing to be removed, and only evil can come of this.
v2jafer
Thoroughly agreeing with this statement, for the most part. I wouldn’t say any mining project, but a lot of them.
It is a sad day, when this is even considered.