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Message: Canada to Spend $97 Million on Road to Uranium, Potash Region

Canada to Spend $97 Million on Road to Uranium, Potash Region

posted on Mar 02, 2009 05:35PM


Does anyone know if this is the Cameco mine in the same area where KXL's uranium finds are?


Canada to Spend $97 Million on Road to Uranium, Potash Region


By Rob Delaney
Feb. 28 (Bloomberg) -- The Canadian government will spend
C$124 million ($97 million) to accelerate improvements to a
highway in Saskatchewan in a plan to stimulate the economy and
improve access to minerals produced in the central province.
The widening of a highway that connects the provincial
capital, Regina, with Prince Albert, 250 miles to the north, is
part of C$755 million of infrastructure spending planned for
Saskatchewan, Prime Minister Stephen Harper’s office said in an
announcement. The central and provincial governments will each
spend C$62 million for the work on Highway 11, the statement
said.
Cameco Corp., the world’s largest uranium producer, and
Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer
producer by market value, both have producing mines in the
northern part of the province.
Harper’s government introduced on Feb. 26 legislation that
would allow acceleration of C$3 billion in spending from the 2009
budget, without providing details of where the money will go.
Legislatures from the opposition parties have expressed concern
the measure is too vague and want more details of how the money
will be spent.
Canadian Finance Minister Jim Flaherty said yesterday that
the country’s statistics agency will announce a “substantial
drop” in fourth-quarter output next week. Flaherty made the
comments in an interview with the Canadian Broadcasting Corp.
today.
He told CTV in a separate interview that economic data would
“continue to get worse.”
Canada’s economy has declined as demand from the U.S., the
country’s main market, has slumped and prices for commodities
such as oil, have fallen.

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