A policy of privatization by the Swedish government has placed Geonics Ltd. of Mississauga, Ont., on the sales block.
Geonics is wholly owned by the SGAB Group, a state-controlled Swedish enterprise concerned with mineral surveys, exploration drilling and geophysical-instrument manufacturing.
The current Swedish government, elected in 1991, has decided to withhold state funding for mineral exploration as well as to withdraw from other geological and geophysical activities.
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