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[[File:Gilbert Labine examining uranium ore at the Eldorado Mine located at Great Bear Lake, Northwest Territories.jpg|thumb|right|[[Gilbert LaBine]] examines uranium ore at the [[Eldorado Mine (Northwest Territories)|Eldorado Mine]] ]]
On 16 May, LaBine found pitchblende near the shores of Echo Bay at a mine site that became [[Port Radium]].{{sfn|Bothwell|1984|pp=23–25}}<ref>{{cite magazine |title=Science: Radium |magazine=[[Time (magazine)|Time]] |url=https://time.com/archive/6757353/science-radium/ |access-date=25 February 2025 }}</ref> Eldorado also established a processing plant at Port Hope, Ontario, the only facility of its kind in North America. To run it, LaBine hired Marcel Pochon, a French chemist who had learned how to refine radium under [[Pierre Curie]], who was working at the recently closed [[South Terras mine]] in Cornwall.{{sfn|Bothwell|1984|pp=55–57}}<ref>{{cite web |title=How Canada supplied uranium for the Manhattan Project |publisher=CBC Documentaries |url=https://www.cbc.ca/documentaries/how-canada-supplied-uranium-for-the-manhattan-project-1.7402051 |access-date=25 February 2025 |archive-date=11 February 2025 |archive-url=https://web.archive.org/web/20250211161617/https://www.cbc.ca/documentaries/how-canada-supplied-uranium-for-the-manhattan-project-1.7402051 |url-status=live }}</ref><ref>{{cite magazine |title=Science: Radium |magazine=[[Time (magazine)|Time]] |url=https://content.time.com/time/subscriber/article/0,33009,758086-2,00.html |access-date=25 February 2025 |url-access=subscription |archive-date=10 October 2023 |archive-url=https://web.archive.org/web/20231010121538/https://content.time.com/time/subscriber/article/0,33009,758086-2,00.html |url-status=live }}</ref> Ore was mined at Port Radium and shipped via [[Great Bear River|Great Bear]], [[Mackenzie River|Mackenzie]] and [[Slave River]]s to [[Waterways, Alberta]], and thence by rail to Port Hope.{{sfn|Bothwell|1984|pp=11–15}}<ref name="Macleans">{{cite magazine |title=Port Radium's Eldorado - The Mine that Shook the World |first=Ronald A. |last=Keith |magazine=Maclean's Magazine |date=15 November 1945 |via=Republic of Mining |url=https://republicofmining.com/2016/09/14/port-radiums-eldorado-the-mine-that-shook-the-world-by-ronald-a-keith-macleans-magazine-november-15-1945/ |access-date=26 February 2025
In 1936, Eldorado Gold Mines took over [[Marine Transportation Services|Northern Transportation Company Limited]] (NTCL). Its flagships were the ''[[Radium Queen (ship)|Radium Queen]]'' and ''[[Radium King]]'' both commissioned in 1937.{{sfn|Van Wyck|2010|p=31}}<ref>{{Cite news |date=15 April 1937 |title=Radium King's en route - Eldorado subsidiary ship leaves for west by train |url=https://news.google.com/newspapers?id=Gi8rAAAAIBAJ&sjid=qZgFAAAAIBAJ&pg=4583,2000389&dq=radium-king&hl=en |newspaper=The Montreal Gazette |volume=CLXVI |issue=90}}</ref> The two [[Tugboat|tugboats]] pulled or pushed, depending on the conditions, ore [[scow]]s named ''Radium One'' to ''Radium Twelve''.{{sfn|Bothwell|1984|pp=66–67}}<ref>{{cite news |title=Discouraging Difficulties Overcome by Eldorado Pioneers |newspaper=[[Edmonton Bulletin]] |date=11 December 1945 |page=16 |via=newspapers.com |url=https://www.newspapers.com/article/the-edmonton-bulletin/113391751/ |access-date=26 February 2025}}</ref> Great Bear Lake is only navigable between early July and early October, being icebound the rest of the year,{{sfn|Bothwell|1984|pp=11, 41}} but mining activity continued year-round, sustained by the [[Eldorado Radium Silver Express]], which flew personnel and supplies to the mine and transported ores back by air.{{sfn|Manhattan District|1947a|p=3.1}}{{sfn|Bothwell|1984|pp=368–375}}<ref name="CnsBulletin2005">{{cite journal |author=Arsenault |first=Jim E. |date=December 2005 |title=The Eldorado Radium Silver Express |url=https://cns-snc.ca/wp-content/uploads/2022/01/Vol26_No4_2005.pdf |journal=Canadian Nuclear Society Bulletin |issn= 0714-7074 |volume=26 |issue=4 |pages=47–49 |access-date=2012-12-01}}</ref>
Competition from Union Minière was fierce and served to drive the price of radium down from CAD$70 per milligram in 1930 ({{Inflation|CA|70|1930|fmt=eq}}) to CAD$21 per milligram in 1937 ({{Inflation|CA|21|1937|fmt=eq}}). Boris Pregel negotiated a cartel deal with Union Minière under which each company gained exclusive access to its home market and split the rest of the world 60:40 in Union Minière's favor. The outbreak of war in September 1939 blocked access to hard-won European markets, especially Germany, a major customer for ceramic-grade uranium. Union Minière lost its refinery at [[Olen, Belgium|Olen]] when Belgium was overrun, forcing it to use Eldorado's mill at Port Hope.{{sfn|Bothwell|1984|pp=71–75}} With sufficient stocks on hand for five years of operations, Eldorado closed the mine in June 1940.{{sfn|Manhattan District|1947a|p=3.1}}{{sfn|Bothwell|1984|pp=102–107}}▼
▲Competition from Union Minière was fierce and served to drive the price of radium down from CAD$70 per milligram in 1930 ({{Inflation|CA|70|1930|fmt=eq}}) to CAD$21 per milligram in 1937 ({{Inflation|CA|21|1937|fmt=eq}}). Boris Pregel negotiated a cartel deal with Union Minière under which each company gained exclusive access to its home market and split the rest of the world 60:40 in Union Minière's favor. The outbreak of war in September 1939 blocked access to hard-won European markets, especially Germany, a major customer for ceramic-grade uranium. Union Minière lost its refinery at [[Olen, Belgium|Olen]] when Belgium was overrun, forcing it to use Eldorado's mill at Port Hope.{{sfn|Bothwell|1984|pp=71–75}} With sufficient stocks on hand for five years of operations, Eldorado closed the mine in June 1940.{{sfn|Manhattan District|1947a|p=3.1}}{{sfn|Bothwell|1984|pp=102–107}}
[[File:Port Radium uranian mine entrance in 1947.png|thumb|left|Entrance to the uranium mine at Port Radium in the Northwest Territories in 1947]]
On 15 June 1942, [[Malcolm MacDonald]], the [[List of high commissioners of the United Kingdom to Canada|United Kingdom high commissioner to Canada]], [[George Paget Thomson]] from the [[University of London]] and [[Michael Perrin]] from Tube Alloys met with [[Mackenzie King]], the [[Prime Minister of Canada]], and briefed him on the atomic bomb project. A subsequent meeting was arranged that same day at which the trio met with [[C. D. Howe]], the [[Department of Munitions and Supply|Minister for Munitions and Supply]] and [[Jack Mackenzie|C. J. Mackenzie]], the president of the [[National Research Council Canada]]. The British had noticed how uranium prices had been rising and feared that Pregel would attempt to corner the market, and they urged that Eldorado be brought under government control. Mackenzie proposed to effect this through secret purchase of the stock.{{sfn|Bothwell|1984|pp=119–121}} Howe then met with Gilbert LaBine, who agreed to sell his 1,000,303 shares at CDN$1.25 per share ({{Inflation|CA|1.25|1942|fmt=eq}}). This was a good deal for LaBine; the stock was trading at 40 cents a share at the time, but the stock only amounted to a quarter of the company's four million shares.{{sfn|Bothwell|1984|pp=123–124}}
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