ORENDA FOREST Products has
unconditionally agreed to the
‘forests ministry's latest offer to
-teplace “the company’s forest
licence,

That means business as usual
for another . “year, but all wood
“from the company’s licence in the
» Meziadin’ area will have to be
: chipped or pulped at a mill start-
‘ing November 15, 1996,
“The © new, licence says the
“i imbet.. - Processing facility”

rs Be. owned or operated by
, Orenda or en affiliate of Orenda
“Beata ‘location and of a form
- acceptable to the forests minister.

ii And be equipped to carry out
debarking and chipping, — or
debarking and pulping.

-“Orenda now has several op-
tions,” said the B.C; Forest Ser-
vice’s Graeme Hynd. ‘One is
building a mill. Another is bec-
oming an. affiliate of _ Somebody
witha mill. A third is to get a
ministerial exemption from the
requirement.'”

Or, he said, Orenda could come
Up. with another option that the

MINING

THE COMPANY THAT wants
to take over a gold property near
Stewart. says it plans to do be-
tween $4 and $5 million worth of
work evaluating the project over
the next six months, :

Gmbham Eacott. of Royal Oak |
Mines says it needs to look at
what current owners Barrick Gold
Corp. have done in the way of a
feasibility study at Red Mountain.

Royal Oak. recently struck a
deal to take over Red Mountain in

: exchange. for doing $3. million
worth of work over three years.
~ Should a mine be developed,
Royal Oak will pay Barrick Gold
a royalty on the gold produced,

“It certainly looks promising,”
said Eacott of Red Mountain. ..

Royal Oak estimates gold
Teserves at Red Mountain at just
under 800,000 ounces of gold
with indications of more. |
i Eacott said the company wants --
‘to do more drilling on the proper-

Gold has already found.
” The deal with Royal Oak was
cut because the project was too
small for Barrick. °

‘Ideally we're interested in
projects that are in the range of
two million ounces a year,’’ said
Barrick spokesman. Vince Borg.
“Red Mountain just didn’t meet
our criteria,”

Work accelerates
at Red Mountain —

Orenda takes licence

Wood to be milled by 9

but how is up

_ ministry hasn't thought of,

Orenda’s licence was one of
three granted in 1985 with the in-
tent of creating jobs, particularly
in the Stewart-Meziadin area.

The other two licences —
originally granted to Tay-M and
Buffalo Head Forest Products —
- have been become part of the
holdings of the northwest’s major

' mill owners — West. Fraser, and

‘Repap. -

A similar affiliation of Orenda
with existing mills is now far
more likely than Orenda’s failed -
promise to build its own mill.

“One of the concerns in the
northwest has to be that there’s
too much milling capacity — that
the milling capacity is greater
than. the sustainable supply, ”
Hynd said.

Ultimately what kind of retum

is generated by the wood givento -

Orenda is up to forests minister -
Andrew Petter,

to mintster

He can dictate what type of mill
is acceptable and he can exempt -
Orenda from any Tequirement of
the licence,

So far, however, Petier isn’t
giving away what he'll accept.

*‘T don’t think I can say that be-
cause at the end of the day it’s up
to the company to come forward

_ with proposals,’’ Petter told The
Standard Friday. at
But he did say he wants 10.

ensure “‘that the fibre. is utilized

in a way that provides greater

stability and security to forest.
_ workers in the northwest arid: that -
_ It doesn’t produce a windfall

from a public resource fora pri-
vate company.”

The new licence is good for 15
years and allows the company to
continue: cutting 342,000 cubic
metres of wood a year.

‘The amended licence offer was

‘made ‘Sept. 25 and accepted Sept.
27...

" Orenda vice-president Frank
Foster was.still refusing to.com-

‘ment on the issue last week.
” -/Orenda failed in’ an effort ear- |

Hier this year to sell off the com-

pany and divert wood from its
- », licence to a mothballed newsprint
"mill on. Vancouver Island, which

_ would have been. operated by- a

Part of Barrick’s criteria. in-
volves having Projects closer to

its other operations in Canada, the.

United. States and Chile.
“We're looking at concentrat-

ing on places that fit our manage-

ment resources and our needs,’? ©

- said Borg. This isn’t the first time

Royal Oak has acted to obtain
Red Mountain.

The company made a play for
then-project owners Lac Minerals
last year in an attempt at a com-
pany takeover. But Barrick Gold
took over Lac Minerals instead.

Lac invested nearly $30 million
in the property in four years prior
to its takeover by Barrick Gold,

‘The Red Mountain location’ is
11km north of Stewart on Hwy37
and then i5km along a logging
road in the Bitter Creek Valley.

A tramway to the mine location
spanning more than 1,000 metres
was partofthe Lac plan. -

But Royal Oak» officials sald

of an overall feasibility study.
There are also suggestions the
company will-combine shipmenis

. from Red Mountain overseas -for

smelting with another project it
has — the Kemess South gold
site north of Smithers,

Those smelters are in Asia but
there's no immediate indication if
Royal Osk’s looking at the
Stewart port aS 8 shipping point.

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