News Release Archive
PREMIER--NO INCREASE IN DEVCO COAL ROYALTIES ----------------------------------------------------------------- The Nova Scotia government will not increase coal production royalties charged to the Cape Breton Development Corporation, Premier John Savage said today. "Despite reports to the contrary, it was never the government's intention to increase royalties," the premier said. "Given the financial difficulties facing Devco and the importance of the coal mining industry to Nova Scotia, any increase in royalties would be totally unacceptable." The premier said the government will also maintain Devco's leasing rental fees at current levels. "The provincial government, working with Ottawa, Devco and the union, is committed to finding a long-term solution to problems facing the coal industry. Coal mining is an integral part of the Nova Scotia economy and we must all do what we can to make it remain so, he said. -30- Contact: David Harrigan 902-424-6600 trp Mar. 19, 1996 - 4:25 p.m.