MINE check: Prime Minister Sam Hinds, members of his team and LINMINE managers view operations at the East Montgomery Mines.
A PACKAGE is to be worked out to benefit the supervisory staff of the Linden Mining Enterprise (LINMINE), from below the position of Superintendent.

Because of the impending takeover of the ailing mining entity by Cambior, the parent company of the Omai Gold Mines Limited, only some of the managers, including senior members would be eligible for the voluntary redundancy package.

LINMINE has to shed almost 1,200 of its workforce before the proposed takeover with just an operational body in place to keep it going in "good condition" until the decision is made.

The closest date for the LINMINE absorption by Cambior is November this year with an ultimate timeframe of May 2003.

Pre-feasibility, feasibility and financing and marketing studies are being conducted by the Canadian Company, which is to acquire 70 per cent of the mining entity.

Mr. Hinds said he received a copy of its first overview about four months ago. He added that more of the company's officials are at LINMINE "doing due diligence to have a much more detailed study done which would be the basis on which its Board would make a decision to go or don't go."

This decision would not be made known to the Government until April of next year, the Prime Minister said.
But when questioned whether the Government has a contingency plan in the event Cambior decides against the takeover, Mr. Hinds said that this would have to be reviewed, as the mining industry needs a major financial injection.

The PM's meeting with the LINMINE workers and management was to brief them on the fate of their colleagues at the Berbice Mining Company (BERMINE) and to give an update on their own impending takeover.

Benn said that the bauxite industry has reached a state where the Government can no longer carry the cost and as such it cannot "waffle" on the decision.

Workers were promised all of their benefits and wages up to whenever they want to leave before the date of takeover.

The Prime Minister urged the workers to keep looking for new economic ventures for investment in the area and he promised that the Government would do whatever possible to assist.