Word: yukon
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...probably done more to develop the mineral riches of Canada than any other man of his time. Last week the tall, spare 72-year-old president of Ventures Ltd. called a special meeting of shareholders in Toronto to announce his biggest venture: a hydroelectric power development in the vast Yukon Territory, which may cost up to $2 billion and develop as much as 5,000,000 h.p., to run a great new metallurgical development in the Canadian Northwest...
Lindsley's vast project will take 20 years or more to complete. A lacework of Yukon rivers and lakes, whose waters now flow north to the Arctic Ocean, will have to be dammed off in the north to form a new lake thousands of square miles in area and nearly 200 ft. deep. The backed-up waters, under one plan, would force the moving of the Yukon's largest town, Whitehorse (pop. 2,594), and the rerouting of the Alaska Highway and the Yukon Railway. The southern side of the manmade lake will be tapped, and its waters...
...development must be carried out in stages, and the first stage-a $250,000 survey of Yukon's lakes and rivers-is already under way, will be finished late this summer. The first $5,000,000 capital has been raised by sale of debentures, and Ventures expects to raise more as needed Next spring, the first 25,000-h.P. pilot power plant will be started...
Classmate of F.D.R. No man is better equipped by experience than Thayer Lindsley to launch the Yukon project. The publicity-shy Ventures president has been one of the most successful operators in Canadian mining ever since he went to Canada from the U.S. in the early '20s with a nest egg of $30,000 in cash. Lindsley, a Harvard classmate of Franklin Roosevelt, got his initial capital and mining know-how operating an iron mine in Oregon, but it was in Canada that he came into...
Alcoa's plan is to dam the Yukon River deep in Yukon Territory, thus raise the level of several lakes near the border. Alcoa would then tunnel 21 miles through mountains and under the fabled Chilkoot Pass to bring the water down through penstocks to the turbines. The generators would be in the rock itself, protected from the weather and enemy bombs. The power would be cheap enough (probably 2? per Ib. of aluminum v. 4$ at Alcoa's most recent U.S. facilities) to offset the cost of transporting alumina all the way north and finished aluminum...