Cash Statement

Consolidated Statements of Cash Flow
(Unaudited)
(In Thousands)

			Three Months Ended		Six Months Ended
			June 30/00	June 30/99	June 30/00	June 30/99

Operating activities
	Net Earnings		$12,870	$17,117	$24,434	$28,239
	Items not requiring (providing) cash:
		Depreciation, depletion and reclamation	27,577	30,443	52,127	60,309
		Provision for deferred taxes	10,544	13,694	19,762	24,990
		Deferred revenue recognized	(3,709)	(1,235)	(5,337)	(5,807)
	Other operating items		16,205	(22,882)	24,475	(35,046)

Cash provided by operations			63,487	37,137	115,461	72,685


Investing activities
	Additions to property, plant and equipment		(29,439)	(56,460)	(70,827)	(107,608)

Cash used in investing			(29,439)	(56,460)	(70,827)	(107,608)


Financing activities
	Increase in debt		-	46,237	2,237	84,660
	Repayment of debt		(35,008)	(44,732)	(12,150)	(44,732)
	Shares repurchased		(23,799)	-	(37,192)	-
	Issue of shares		777	503	1,476	1,379
	Preferred securities charges		(4,067)	(4,175)	(8,081)	(8,243)
	Dividends		(7,071)	(7,209)	(14,232)	(14,416)

Cash provided by (used in) financing			(69,168)	(9,376)	(67,942)	18,648


	Decrease in cash during the period		(35,120)	(28,699)	(23,308)	(16,275)
	Cash at beginning of period		57,281	48,890	45,469	36,466

Cash at end of period			$22,161	$20,191	$22,161	$20,191



Supplemental cash flow disclosure
	Interest paid		$7,105	$9,656	$14,095	$20,325
	Income taxes paid		$2,018	$2,454	$3,816	$7,340



Note: See notes accompanying the consolidated financial statements.