Archangel in ownership dispute

Article Abstract:

Archangel Diamond Corp. of Vancouver, British Columbia, wants its Russian partner, Arkhangelskgeoldobycha AG, to complete the transfer of the 400-kilometer Verkhotina diamond property in northern Russia to their jointly owned operating company, Almazny Bereg AB. Archangel has threatened to bring the issue to an international arbitration court in Stockholm, Sweden, if the Russian company fails to comply. Archangel owns a 40% stake in the joint venture, Arkhangelskgeoldobycha AG 50% and IBME Ltd. 10%. Archangel president Timothy Haddon claims that his company has already completed the necessary work to gain its 40%-ownership of the property.

Comment:

Wants its Russian partner to complete the transfer of the Verkhotina diamond property to their joint venture

Russia, Article, Archangel Diamond Corp.

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Voisey's Bay environmental plan approved

Article Abstract:

The environmental plan for Inco Ltd's C$1.1-billion Voisey's Bay nickel and copper project in Labrador has been approved by both the federal and provincial governments. The environmental assessment report, which was released in Apr 1999, also included 107 recommendations. Two key proposals are Labrador's demand for the construction of a smelter and refinery plant in Newfoundland, and the call from two aboriginal groups that the mine be operated for at least 20 to 25 years.

All Other Metal Ore Mining, Newfoundland, Nickel Ores & Concentrates, Inco Ltd., Newfoundland and Labrador, Nickel mining

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SouthernEra founder to step down as president, CEO

Article Abstract:

SouthernEra Resources Ltd Founder Christopher Jennings intends to step down as president and CEO, although he still hopes to play a key role in the strategic positioning of the Toronto, Ontario-based diamond mining firm. Jennings, who holds 1.6 million SouthernEra shares, has expressed disappointment over the company's depressed stock value. However, SouthernEra is intent on improving its stock price by boosting its operations in South Africa.

Canada, Executive changes & profiles, SouthernEra Resources Ltd.

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