Pele lures De Beers to Wawa (August 11, 2003)
The Canadian exploration arm of De Beers has entered into an option agreement with Toronto-based Pele Mountain Resources (GEM-V) at the latter’s 100-sq.-km Festival diamond property, 25 km north of Wa…
Articles by Northern Miner Staff
The Northern Miner Indices (August 11, 2003)
North American Mining: 81.12 (+0.44)Small Producers: 82.45 (+1.06)(Sept. 30/98 = 100)…
Letting in some light
“Sunshine is the best disinfectant.”– James Gallagher, first president of the Canadian Trading and Quotation System, in late 2001.This newspaper was one of those voices that bayed loudest for tight r…
Norilsk seeks larger Stillwater holding
Russian nickel giant Norilsk Nickel (NILSY-O) has announced an offer for another 4.3 million shares of palladium-platinum producer Stillwater Mining (SWC-N).The bid, which expires Aug. 19, allows mino…
Diadem adds to Otish Mountain portfolio
Diadem Resources (DIR-V) has agreed to acquire some 1,552 staked claims covering 810 sq. km in the Otish Mountains area of northern Quebec.While no total price tag was mentioned, Diadem said it would …
BHP Billiton to sell art collection
London-based BHP Billiton plans to auction off its extensive collection of Australian art. The auction will take place in late August in Sydney.The 300-piece collection consists of works painted after…
Southern Peru exec appointed to gov’t post
Hans Flury, director of Southern Peru Copper, has become the country’s minister of energy and mines. He replaces Jaime Quijandria, who had held the office for two years.Flury, a corporate lawyer, is a…
Rally stalls
U.S. markets backed off the summer rally during the reporting period July 30-August 5, with the Dow Jones Industrial Average sliding 168.14 points to close at 9,036.32.It wasn’t a bad five days for th…
Richmont buys into Patricia
Small gold producer Richmont Mines (RIC-T) is investing $1 million in Toronto-based junior Patricia Mining (PAT-V) in order to help the latter advance its wholly owned Island Gold project, near Wawa, …
People (August 11, 2003)
Alcoa — Rudolph Huber appointed VP Alcoa Global Businesses and chief information officer.Atrix Labs — Mark Wallace appointed CFO.Desert Mining — Gabriel Holt appointed to board and as…
De Beers boasts strong first half
Although the De Beers name is inevitably associated with polished diamonds and diamond jewelry, its core business remains the exploration for, and mining and marketing of, rough diamond gems.In 2002, …
Chinese demand buoys aluminum market
(The following excerpt from The Commodity Refiner, a monthly publication of Barclays Capital Research, provides an overview of the current aluminum market.)Primary aluminum prices continue to perform …