Mining Squeeze Hits Northern Ontario

Plunging metal prices are crippling the mining industry in Northern Ontario.
Several Junior mining companies are cutting hundreds of jobs due to the volatile prices of metals.
Gold and Precious Metals Analyst John Ing says credit crunch and low commodity prices are hurting the industry.
Ing says the price of many metals is less than the cost of production.
He adds the financial meltdown in the United States has even impacted a once safe haven, Gold.
Ing feels some miners will go out of business before the global financial crisis is over.