Cape Breton Development Corporation: An overview

"The Cape Breton Development Corporation is a federal Crown corporation which was formed in 1968. Initially, the Corporation had two divisions - the Industrial Development Division, whose purpose was to stimulate Cape Breton Island's economy, and the Coal Division with a mandate to phase out the operating coal mines. However, that strategy changed in the early 1970s with the Middle East oil crisis. As a result of that crisis, Nova Scotia Power Corporation adopted an ""off oil"" policy. Today, approximately 700/0 of Nova Scotia power needs are met by generation of electricity from coal. Therefore, since the early 1970s, emphasis has been on the rehabilitation of the Cape Breton coal mining business with the opening of three new mines.Today, Devco is solely a coal mining company which employs 3300 people.Physical DescriptionThe mines operate in the Sydney coal field which is located on the eastern tip of Cape Breton. The Corporation leases the deposit from the province of Nova Scotia and its leases cover all coal from the outcrop to the 4000 ft depth. The seams outcrop along the shoreline and dip beneath the ocean floor at dips varying between 5% and 100%.There are eleven seams, of which three - the Harbour, Phalen, and Hub - have been extensively mined."