1995 Highlights
- Economic growth provided for modest employment gains.
- Activity on the Hibernia GBS reached peak levels.
- Hunt Oil and PanCanadian Petroleum Ltd. completed drilling Port au Port #1
well at Garden Hill.
- Amoco Canada made a $90 million exploration expenditure bid for a land
parcel on the Grand Banks - a new record.
- The Province announced its largest Request for Bids to date. Thirty-one
onshore land parcels, stretching the entire length of the West coast, were
offered for sale.
- Petro-Canada announced that it will proceed with a Development Plan
Application for the Terra Nova oil field.
- Ongoing drilling on the Voisey's Bay nickel discovery fuelled speculation
regarding the potential of the original find.
- Mineral exploration expenditures hit $71 million while more than 248,000
claims were staked in the Province - a new record.
- The exploration activity surrounding Voisey's Bay and throughout other
parts of Labrador represented one of the largest staking rushes for base metals
in Canadian mining history and the most significant ever in the Province.
- Ming Minerals reactivated the Rambler mine on the Baie Verte Peninsula.
Production began in November.
- Raymo Processing started construction of a vat-leaching facility to extract
gold from the tailings of the former Rambler Mine.
- Rising newsprint prices produced a banner year for pulp and paper makers.
Mills operated near full capacity.
- Twenty-eight companies were approved for the EDGE program.
- Successful shellfish fisheries, particularly crab, drove landed value to
an all-time high.
- Sentinel fisheries along the South and West coasts provided evidence that
some groundfish stocks are recovering.
- Aquaculture production topped the 1,000 tonne mark.
- The Matthew, a replica of John Cabot's vessel, was launched in Bristol,
England. The Matthew will visit the Province in 1997.