Vale Inco will build a smelter at Long Harbour, as the company announced in its October 16 capital expenditure report and as Bond Papers told you last week (Friday to be precise).
The new smelter will use hydromet technology and will be finished by 2011.
The provincial government issued a news release on Wednesday - now that November polling season is under way - even though the information came from Vale Inco on Friday of last week (read the news release !).
The new facility will deliver about 5,000 per years of construction employment and 450 jobs annually.
On top of that the provincial government forecasts the value of the Voisey's Bay project at $20.7 billion.
Not bad for an agreement the Premier used to say had holes in it so big you could drive a truck through them.
The announcement last month confirms that in January 2007, as reported by the Toronto Star, Vale Inco was looking to fast track Long Harbour to have it in service before 2011.
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