Sue's Blog

Thursday, October 26, 2006

Danny will have to wait for new relationship with INCO/CVRD

with CVRD -INCO.
If you listen to the Premier you would conclude that his relationship with INCO on the Voisey's Bay project has been horrible. He could not contain his questionable enthusiasm on the Brazilian CVRD purchase of the Canadian company.
There is however a problem for Williams if he's waiting for the bogyman to go away.
The quote below says it all - this Story from the Globe and Mail today.

"Mr. Hand has agreed to oversee the transition and will become president and CEO of CVRD Inco. The new entity will roll in CVRD's existing nickel projects and Mr. Hand said that will be positive for the division, which will have its headquarters in Toronto."

It would appear that during the next critical year of Voisey's Bay processing decisions - the Premier's nemesis - Scott Hand will be at the helm.

The people of Newfoundland and Labrador or Long Harbour need not worry - the contract is solid and a processing plant will be built in this province. It will just be funny watching our Premier have to continue his dance a little while longer.
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On the good side of the story - CVRD is presenting as aggressive with significant opportunities becoming available. Labrador has iron ore - CVRD's favoured ore, nickel CVRD's new baby, and energy to fuel any industrial facility CVRD is looking to build.
That will depend on Danny's decision regarding power!

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