Anglo, Gold Fields reject mediation offer
Anglo American and Gold Fields have rebuffed an offer by Anglican Archbishop Ndungane Njongonkulu to mediate in a lawsuit against the companies for alleged human rights abuses during apartheid.Anglo a…
Articles by Northern Miner Staff
Kinross axes 75 jobs at Lupin
Kinross Gold says it will lay off 75 workers at the Lupin gold mine, 80 km south of the Arctic Circle in Nunavut.The miner posted a US$13.3-million loss in the recent quarter and says the layoffs woul…
Northern Miner Indices (May 19, 2003)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T20.0%CamecoCCO-T3.6%FalconbridgeFL-T4.6%Freeport McM BFCX-N5.8%GoldcorpG-T4.5%IncoN-T8.0%Kinross GoldK-T4.5%Newmont MiningNEM…
Canadian Stock Exchange Indices (May 19, 2003)
DateMay 13May 12May 9May 8May 7HighLowTSX Composite6702.916717.506650.036620.776…
Miners have volatile week
U.S. stock markets advanced modestly over the five trading days May 7-13, with the Standard & Poor’s 500 index up 7.91 points at 942.30 and the Dow Jones industrial average 90.89 points higher at 8,67…
Loan puts Tirisano expansion on fast track
A loan from the Industrial Development Corporation of South Africa will enable Etruscan Resources (EET-T) and Mountain Lake Resources (MOA-V) to expand their Tirisano alluvial diamond mine in that cou…
Resource sector buoys junior exchange
Vancouver — The resource sector helped Canada’s junior exchange maintain its rally over the week ended May 13. The S&P-TSX Venture Exchange composite index tacked on 12.66 points, or 1.2% of its valu…
Newmont predicts brighter future for gold
A year after it became the world’s largest gold miner as a result of merging with Normandy Mining and Franco-Nevada Mining, Newmont Mining (NEM-T) remains as bullish as ever about the yellow metal.Spe…
CIM tackles globalization
Montreal, Que. — The 105th annual meeting of the Canadian Institute of Mining, Metallurgy and Petroleum, held in this city’s gargantuan Palais des Congrs, was highlighted by a plenary session titled…
Cambior trims Q1 loss, hedge book
A higher realized gold price enabled Cambior (CBJ-T) to reduce its loss for the first quarter of 2003, compared with the corresponding period last year.The loss amounted to US$2.3 million (or a penny …
Apollo Gold goes batty
Florida Canyon Mines, a subsidiary of Denver, Colo.-based Apollo Gold, has joined forces with the Nevada Division of Wildlife (NDOW), the Bureau of Land Management (BLM), and Bat Conservation Internat…
Barrick plans buyback (May 19, 2003)
Barrick Gold (ABX-T) has budgeted up to US$500 million for a share buyback program aimed at propping up its faltering share price.The world’s third-largest gold producer plans to buy up to 35 million …