LETTERS TO THE EDITOR — CIDA grant for Namibia project

I am completely puzzled after reading in your newspaper that the Canadian International Development Agency (CIDA) has approved a $485,000 grant to Canadian Overseas Exploration to finance a feasibility study on a mineral prospect in Namibia (T.N.M., Nov. 30/92).

With the mineral exploration industry in Canada going straight to hell in a hand-basket, largely due to a lack of financing, it boggles the mind that any governmental agency, provincial or federal, should grant our tax dollars to anybody to finance any offshore mining venture.

I don’t know exactly what CIDA’s mandate is but I am sure it will stretch almost everyone’s imagination to the breaking point to justify this action at this time. It isn’t sufficient to say that I’m angry about such imbecility. The language I should be using to describe this adventure by CIDA and the people who have approved it would be unprintable.

I have no axe to grind with Canadian Overseas Exploration. In these times we all accept exploration funding from any available source. However, if I was representing the interests of the Canadian taxpayer in this instance, I would cancel this CIDA grant and any others like it and dismiss those responsible for approving it.

M. Rennick

Toronto