Loewen seeks deal with lenders

Article Abstract:

Loewen Group Inc, the Burnaby, British Columbia-based funeral service giant, will try to fend off bankruptcy by restructuring its credit agreement with Bank of Montreal and other creditors. Company chairman John Lacey says the company needs to secure an agreement with its lenders before releasing its results for the fourth quarter of 1998. Investors are concerned that the company's onerous interest payments on its $2.1 billion debt will forced it into bankruptcy.

Canada, Organizational history, Funeral Homes and Funeral Services, Funeral Services, Loewen Group Inc.

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B.C. mining industry battered last year: report

Article Abstract:

The British Columbia, Canada, mining industry suffered its worst performance since 1993 by posting an after-tax loss of C$156 million in 1998, according to a PricewaterhouseCoopers report. The number of miners directly employed by the industry dropped to 10% in 1998 to 8,493. The report was released at a time when exploration is experiencing record lows and just days before the big Highland Valley copper mine at Kamloops, BC, was threatened to be closed.

Strategy & planning, Gold Ore Mining, British Columbia, Gold Mines

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