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Band tells minerals firm to leave

OVER the weekend, representatives of Red Sucker Lake First Nation presented a stop-work order and eviction notice to Mega Precious Metals Inc., a mineral-exploration company that officials from the northern Manitoba First Nation say are operating illegally in its traditional territory.

Mega Precious Metals, based in Thunder Bay, has been drilling and developing a potential gold mine at Monument Bay, about 60 kilometres northeast of Red Sucker Lake First Nation, for a few years. Red Sucker Lake is about 700 kilometres northeast of Winnipeg.

A band spokesman said action was taken now because new permits were issued recently without appropriate consultation with the First Nation.

A band spokesman said there has been no violence or aggressive action related to the eviction notice.

The mining company has a 30-to-40-person camp at the exploration site, but it's not clear how many are currently at the camp.

Fred Harper, a spokesman for Red Sucker Lake First Nation, said company officials at Monument Bay were not objecting to the order and indicated an orderly eviction was likely. He said the band believes an adequate resolution to the dispute is possible.

There was no comment Tuesday from management at Mega Precious Metals' Thunder Bay office.

 

Low BlackBerry earnings hurt stock

WATERLOO, Ont. -- Shares in Blackberry fell nearly eight per cent Tuesday, just days after the smartphone-maker reported dismal earnings in its latest quarter.

BlackBerry stocks closed down 7.76 per cent, or 86 cents, to $10.22 on the Toronto Stock Exchange. On Wall Street, company shares fell more than five per cent, or 59 cents, to US$9.70.

The Waterloo, Ont.-based company has been clobbered on both stock markets since Friday, when it posted a first-quarter loss of US$84 million, or 16 cents a share, for the three months ended June 1.

It was an improvement from a loss of $518 million, or 99 cents per share, a year ago, but still fell short of analysts' estimates.

The results, along with comments from chief executive Thorsten Heins that further losses were expected in the next quarter, contributed to a 26 per cent drop in BlackBerry shares Friday.

 

Former Tiffany exec accused of theft

NEW YORK -- A former executive with Tiffany & Co. stole items from the jeweler's midtown Manhattan headquarters and resold it for more than $1.3 million, federal authorities said Tuesday.

Ingrid Lederhaas-Okun was arrested Tuesday at her home in Darien, Conn. She was to appear later in the day in federal court in Manhattan to face charges of wire fraud and interstate transportation of stolen property.

As vice-president of product development, Lederhaas-Okun had authority to "check out" jewelry from Tiffany to provide to potential manufacturers to determine production costs. Authorities allege that after she left Tiffany in February, the company discovered she had checked out 164 items that were never returned.

According to a criminal complaint, the missing jewelry included numerous diamond bracelets in 18-carat gold, diamond drop and hoop earrings in platinum or 18-carat gold, diamond rings in platinum, rings with precious stones in 18-carat gold, and platinum and diamond pendants.

 

GM, Honda hook up

NEW YORK -- General Motors Co. and Honda Motor Co. are joining forces to develop hydrogen-fuel-cell vehicles.

The two companies said Tuesday they plan to develop new hydrogen storage and fuel-cell technologies by 2020. They will also push for more hydrogen fuelling stations.

Fuel-cell vehicles have electric motors that are powered by a chemical reaction between hydrogen and oxygen. The only byproducts are water vapour and heat, so there's no pollution. But the lack of infrastructure to transport and store liquid hydrogen has been a barrier to the cars' development.

 

-- staff / from the news services

Republished from the Winnipeg Free Press print edition July 3, 2013 B5

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