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Mines undeserving of breaks on hydro costs

Re: Should taxpayers subsidize hydro costs for mines?

No! An emphatic no.

While writer Jim Wentworth points out that Abacus will be paying US$16.5 million a year for power, what he doesn't mention is that they won’t be paying an additional $25.5 million a year for free power. We will.

If, as he says, KGHM Ajax (I wish they wouldn't keep changing their name), or Abacus is estimating a profit of $8 billion over 23 years ($347.8 million per year), perhaps they should pay for their own hydro costs and only make $322.3 million per year.

And if that's not enough for them to get by on, perhaps they should leave it in the ground until it gets more valuable.

JOHN GREGSON

Kamloops

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