LOCAL/PROVINCIAL NEWS

May 13, 1990 Castlegar News ar

Native land claims
won't ‘go away’

VANCOUVER (CP) — Disputes
over native land claims will

The B.C. government has refused
to i title and

affect everyone in British Columbia
and it’s time the general public started
learning about the issues, says the
organizer of a conference on
aboriginal title.

“This is something that’s just not
going to go away,"’ said Calvin Helin,
president of the Native Investment
and Trade Association.

“In South Africa they jailed Nelson
Mandela, the leader of the once-
outlawed African National Congress,
in the short-sighted hope that the
whole issue would go away. . . well,
after all those years of stalling. now
they’ re negotiating.

nd that’s what's going to hap-
pen here.”’

has denied any obligation to par-
ticipate in land-claim settlements.

But Premier Bill Vander Zalm has
recently suggested that his gover-
nment is reconsidering its position.

Jack Weisgerber, B.C.’s Indian af-
fairs minister, and Gordon Hanson,
the Opposition Indian affairs critic,
are scheduled to speak at the weekend
conference.

**We hope to create an atmosphere
of cooperation and open-mindedness,
rather than the confrontation we've
seen on this issue,”” Helin said.

“Contrary to the popular view of
aboriginal people, they donor want
money blindly thrown at them. They
don’t want handouts.’’

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From Wire Service

NDP quizzes minister

VICTORIA (CP) — B.C. Finance Minister Mel Couvelier has ad-
mitted he is no financial wizard.

He conceded his lack of expertise this week in the legislature when
asked by NDP member Bob Williams if he knew what a basis point is.

Williams, chairman of VanCity Credit Union in Vancouver,
originally asked Premier Bill Vander Zalm, who deferred the question to
his finance minister.

“‘First of all, I make no great pretence to being a financial expert,”
Couvelier replied. ‘‘As I’ve said a number of times on this side of the
House there are probably at least 35 individuals who could do the job
equally well or better.

“*T just happen to be the MLA who holds the job at the moment.””

Couvelier eventually answered that one per cent equals 100 points.

Earlier, the NDP-had pressed Couvelier about his biography, which
says he was educated as a certified general accountant.

Couvelier told the legislature he was not a member of the
Association of Chartered Accountants of British Columbia, which
questioned whether his recent provincial budget was balanced as he
claims.

Couvelier has no formal training in accounting or économics.

An aide said the biography was prepared without Couvelier’s
knowledge and has since been corrected.

Gran says hands tied

VICTORIA (CP) — The provincial minister responsible for
women’s programs says she would have no time for anything else if she
was involved in the abortion issue.

Carol Gran told the legislature her ministry can do nothing about
abortion because it’s a federal issue.

“*For me to get involved in the abortion issue would simply mean
that I would never have any time to do anything else,”’ she said.

“*So I’m leaving it with the federal ministers to deal with."”

She said she has not been asked nor offered any comment to the
federal justice minister about the government's proposed abortion bill.

Later outside the legislature, Gran said abortion should be
“‘available fairly throughout the province,”’ once a federal abortion law
is pfssed.

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CORPORATE DONATION

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Mining company eyes Salmo mill

- By CLAUDETTE SANDECKI

Staff Writer
A Nanaimo-based mining company
ves owns Properties in the West
is the

son said. Nu-Dawn bought the mill
after the closure.

The mill is capable of processing
% »200 tonnes of ore per day and is 30
from Cominco which is

HB Min processing plant near Salmo
if enough extractable lead, zinc, gold
and silver ore to warrant a startup can
be found in the mines the company
owns in the region, the vice president
‘of Nu-Dawn Resources Inc. said:

“There are sufficient resources in
the area to operate the mill
(processing plant) at full capacity for
many, many years,’’ Ray Carson told
the Castlegar News on Friday. ‘‘But

i first weyneed to. establish the
economics and we’re in the process of
doing that.’’ He said the mill could be
operating this summer.

Nu-Dawn, which is listed on the
Vancouver Stock Exchange, is curren-
tly doing exploration work in a mine
at Ymir to determine if that facility is
worth reopening to feed the mill, Car-
son said, explaining he could not
name any other mines the company is
exploring since they have not been
formally announced by Nu-Dawn’s
head office.

The Salmo mill was originally built
by Cominco in the 1950s and was in
operation until the early 1980s, Car-

capable of completing the processing
of concentrates produced by the mill,
a company news release says.

As well, an engineering firm that

appraised the mill has determined
repairing the existing facility, which is
valued at over $11 million, would cost
the company about $600,000, as op-
posed to building a new processing
facility which would cost the com-
pany over $40 million, the release
says:

“What may be most important is

that the mill already has all the
required environmental pollution-
controtpermits needed to begin
operating immediately,"’ the release
notes.

Nu-Dawn currently has a main-
tenance crew of about five people at
the mill repairing winter damage such
as roofing leaks, Carson said.

Canadian banks healthy

TORONTO (CP) — Canada’s big
banks have entered the 1990s
healthier than at-any time in more

reliance on fee income and the overall
strength of their balance sheets for the
fiscal year ended Oct. 31, 1989.

than a decade, the latest
by credit rating agencies show.

“The Canadian banks have never
been stronger as a group,”’ an official
with Dominion Bond Rating Service
Ltd. said. ‘‘Thye’re probably in as
good shape as any in the world.””

Three banks — the Royal Bank of
Canada, Toronto-Dominion Bank
and the Canadian Imperial Bank of
Commerce — stand out as the
Cadillacs-of the system, the official
said.

All get high marks for asset quality,
ability to control costs, increased

The p ge of non-Third
World problem loans, for example, is
a sparkling 1-08 per cent, rating ser:
vice numbers for the major banks
show.

That compares with a typical U.S.
bank level of three to five per cent

The Bank of Nova Scotia was the
only Canadian bank downgraded in
the latest reviews by the Canadian
debt monitors.

Canadian Bond Rating Service Ltd.
of Montreal dropped Scotiabank’s
rating slightly on long-term deposits
Thursday to double-A (low) from

double-A, and its debentures to
single-A (high) from double-A (low).

At the same time, it raised the
Royal Bank’s rating to double-A
(high) from double-A and Laurentian
Bank of Canada to single-A (high)
from single-A.

The agency cited concerns about
Scotiabank’s heavy lending for highly
leveraged corporate transactions,
mainly the financing of takeovers.

Scotiabank fas pursued this
business more aggressively in recent
years than its counterparts, with $3.7
billion worth of such exposure and 40
per cent of the portfolio made up of
accounts exceeding $75 million
apiece

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News

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Sales Prices in Effect Sunday, May 13
through Saturday, May 19, 1990

Mon. to Wed. and Saturdey Thu oy ond Friday
, 0 9 p.m.

Sunday
Ya.m. to 6 p.m 10 a.m. to 6 p.m.

We reserve the right to limit sales to retail quantities.

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