Richard Gleeson
Northern News Services

Yellowknife (Jan 30/02) - Though the federal government rejected Miramar's hydro plant as security for Con Mine, the company maintains Bluefish is an asset that will be easy to sell off when the time comes.

The selling price is going to be significantly more than the $3-million encumbrance Miramar offered as security for the cleanup of Con Mine, said company spokesperson Brian Labadie.

"My expectation is it would be worth way more (than $3 million) -- not double, not triple, not quadruple -- way more," he said.

NWT Power Corporation (NTPC) president Leon Courneya said Bluefish would be a valuable addition to the corporation's hydro system.

"We're talking about it; I wouldn't call it negotiations," Courneya said. "We're always interested in acquiring more hydro, at the right price." Located at the north end of Prosperous Lake, the plant provides power to the Con gold mine. Courneya said if the 7 megawatt hydro facility (its output was doubled with the addition of another power plant in 1993) was providing power to the city, it would virtually eliminate the need to use the diesel generators at the Jackfish power plant.

Courneya said the corporation has been discussing the possibility of taking over the Bluefish plant since 1989.

"Over time as Yellowknife grows, you would reach a point where even with Bluefish, you would eventually have to start using diesel," Courneya said.

Labadie said the Power Corporation is one of a host of parties that have expressed an interest in the facility.

Another is Northland Utilities, the company that distributes the power NTPC generates for Yellowknife.

Manager Jerome Babyn said the company has discussed Bluefish with Miramar.

"If it was going to become available, we'd certainly be interested," Babyn said.

Bluefish would be an attractive catch for Northland or NTPC for a number of reasons. Because it is an existing facility, the corporation would avoid the time and expense of an environmental review. Bluefish is already part of the corporation's power grid. No new transmission lines would be required.

Courneya said the addition of Bluefish to the Snare hydro system already serving the city would result in lower power prices in the long term.

He said whether or not it would lower prices in the short term "depends on the purchase price."

Con stated last year it cannot foresee mining beyond the end of 2003 unless gold prices improve.

"If we can make a go of it beyond that, certainly that's our desire," Labadie said.

Calls to Northland Utilities were not returned by deadline.