Resource and Development in Newfoundland

Publisher:  Development Education Centre, St. John's, Canada
Year Published:  1976
Resource Type:  Article
Cx Number:  CX48

This pamphlet traces the history and inequities of Newfoundland's development of resources.

Abstract: 
This pamphlet traces the history and inequities of Newfoundland's development of resources. In this province, where the value of minerals produced per person is more than double the Canadian figure, the average Newfoundland income is less than 60% of the average Canadian income and the unemployment rate in June 1975 exceeded 20%.
This 16 page pamphlet shows the wealth and power amassed by large corporations like Reid Newfoundland Co. which own outright and forever all the resources on and under almost 10% of the island of Newfoundland; Dominion Steel and Coal Corporation; Anglo-Newfoundland Development Co.; American Smelting and Refining Co., one of the world's first multinational corporations, who in the decade starting in 1961 made $55million in profit from the mining at Buchans and the province received only $l/4million in mining taxes and royalties for the Buchans ore.
Also detailed is the history of ore and hydro-electric exploitation in Labrador in which BRINCO (the British Newfoundland Corporation) plays a major role.