Coeur Alaska and Goldbelt Native Corp. reach agreement on new Juneau housing project.JUNEAU Juneau (j  `nō), city (1990 pop. 26,751), state capital, SE Alaska, in the Alaska Panhandle; settled by gold miners 1880, inc. 1900. , Alaska--(BUSINESS WIRE)--Sept. 24, 1996--Coeur d'Alene Mines Corp. and Goldbelt Inc. announced today they have reached an agreement to construct and support up to 102 units of new housing in and around Juneau for use by local residents, as part of Coeur's ongoing commitments to the local economy in building the Kensington Kensington is a district of West London, England within the Royal Borough of Kensington and Chelsea, located 2.8 miles (4.5 km) west of Charing Cross. An affluent and densely-populated area, its commercial heart is Kensington High Street and it contains the well-known museum mine northwest of the city. Under terms of the agreement between Goldbelt and Coeur coeur (ker) [Fr.] heart. coeur en sabot (on sa-bo´) a heart whose shape on a radiograph resembles that of a wooden shoe; seen in tetralogy of Fallot. Alaska, Goldbelt will undertake construction of the new housing, which may include both multi-family and single family residences. Coeur, in turn, will provide financial assurance to enable Goldbelt to secure favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. . The agreement also satisfies conditions in the anticipated CBJ CBJ Columbus Blue Jackets (NHL team) CBJ Central Bank of Jordan CBJ Conflict-Directed Backjumping CBJ Circuit Board Jack CBJ Code-Breakers Journal CBJ Class Broker for Java CBJ Color Bubble Jet Large Mine Permit for the construction of Kensington. "This is an excellent example of local job creation which also helps meet the serious long term housing needs for residents of Juneau," said Joseph M. Beedle, president and chief executive officer of Goldbelt. "The financial assurance offered by Coeur ensures that everyone involved, especially those in need of housing in the community, come out ahead." Dennis E. Wheeler, chairman, president and chief executive officer of Coeur, added, "We are very pleased to join again with Goldbelt in reaching this creative agreement to meet the needs of local residents. It is significant that local contractors will be employed in construction, and that the new housing will be available to all residents, not just the mine employees." Earlier this year, Coeur along with Goldbelt, Klukwan Inc., and Kake Tribal Corp. reached an agreement to assist in eventual construction and operation of the Kensington gold mine. The agreement also meets certain employment and training goals for the Native groups working on the project. Kensington is a major gold project in its final permitting phase with approximately 2 million ounces of reserves and, after a two year construction phase, is expected to produce 200,000 ounces of gold annually. CONTACT: Coeur d'Alene Coeur d'Alene, city, United States Coeur d'Alene (kûrdəlān`), city (1990 pop. 24,563), seat of Kootenai co., N Idaho, near the Wash. line; inc. 1907. Mines Corp. Anthony R. Ebersole, 208/667-3511 |
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