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Article: Prospectors hardest hit by escalating interest rates. (Gold Mining Report)
- Article from:
- Northern Ontario Business
- Article date:
- July 1, 1990
- Author:
CopyrightCOPYRIGHT 1990 Laurentian Business Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Prospectors hardest hit by escalating interest rates
Like the rest of the Canadian economy, high interest rates are affecting the mining and mineral exploration industry.
However, the interest rates have different effects on different companies.
And, as with individuals, the rich are better able to survive the economic shock to the system.
Prospectors are being hurt the most by the high rates.
Garry Clark, chairman of the Northwestern Ontario Prospectors Association, said the problem is that money is being attracted by the high rates offered by treasury bills and other guaranteed high-yield investments, instead of by stocks and ...