A diamond mine's road to approval

Article Abstract:

RTZ Corporation PLC of London, UK, and Vancouver, British Columbia-based Aber Resources Ltd. anticipate favorable environmental review process of their C$875-million diamond mine. The Diavik mine at Lac de Gras, Northwest Territories, faces a comprehensive study procedure under the Canadian Environmental Assessment Act. The Diavik project, which is operated by RTZ's subsidiary, Diavik Diamond Mines Inc., has to comply with the standards of the Canadian Environmental Assessment Act, the Navigable Waters Protection Act, the Fisheries Act and the Explosives Act. Diavik is expected to operate for 16 to 22 years and employ 350 people. RTZ owns 60% of the Diavik mine, while Aber owns the remaining 40%.

Comment:

Anticipates favorable environmental review process of its C$875-mil, Diavik diamond mine project w/ RTZ Corporation PLC

Government regulation, Northwest Territories, Rio Tinto PLC, Aber Resources Ltd.

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Namibian plans second diamond-dredging vessel

Article Abstract:

Namibian Mineral Corp is allocating $25 mil to outfit a second vessel with its underwater mining to dredge for diamonds near the shores of Namibia. The Canadian-registered firm has been encouraged by the success of its first vessel which dredged-up 116,000 carats of diamonds during its first year of operation. Namibian, which posted a profit of $5.5 mil or 14 cents per share for the three months that ended Mar 31, 1999, is hoping the second vessel will further raise and expand its capability to dredge diamonds in the area.

Canada, Capital expenditures, Namibian Mineral Corp.

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Lytton investor seeks to overturn diamond firm's management

Article Abstract:

Lytton Minerals Ltd.'s shareholder, Howard Miller, has initiated efforts to elect a new board of directors charged with the management of the mineral exploration company headquartered in Toronto, Ontario. The move reflects the efforts of Miller, who maintains a 4.6% interest in the mineral firm, to introduce reforms in the operation and management of the company. The nomination of a new slate of directors comes as the mineral exploration firm is looking into a possible diamond mine in the Northwest Territories.

Comment:

Its shareholder, Howard Miller, initiates efforts to elect new board of directors for management of co

Stockholder data, Ontario, Lytton Minerals Ltd.

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