Lower output whacks FCX earnings
True to its early-July warning, Freeport-McMoRan Copper & Gold (FCX-N) has seen its bottom line eroded by heavy rainfall and lower head grades at the Grasberg mine in Indonesia.In the second quarter, …
Articles by Northern Miner Staff
Diamond Fields seeks damage control
Hoping to win over skittish investors, Diamond Fields International (DFI-T) has released new results from its marine diamond project off the coast of Namibia that suggest things are not as bad as its …
Casa Berardi drilling extends gold zone to the east
Drilling by Aurizon Mines (ARZ-T) at the inactive Casa Berardi mine in northwestern Quebec has cut significant gold values east of known mineralization.The $2-million program, which is testing extensi…
Diamond targets in NE Ontario
Stream-sediment sampling by the Ontario Geological Survey in the Mattawa-Cobalt corridor has identified significant kimberlite indicator minerals at several sites. The area is believed to host kimberl…
Queenston drills at Kirkland Lake
Fresh on the heels of a $5-million financing, Queenston Mining (QMI-T) has closed the purchase of Newmont Mining’s (NEM-N) half-interest in the Kirkland Lake joint venture in Ontario and launched a ne…
PEOPLE (July 29, 2002)
Coeur d’Alene — Mitchell Krebs appointed director of corporate development.Desert Sun — Eric Edwards appointed CFO; Peter Bojtos appointed director; William Pearson and Godfrey Walton appointed cons…
New chemical regulations could affect mining
The federal government has drafted regulations that seeks to “classify” certain information on materials and chemicals that could be dangerous in the hands of terrorists.The rules will apply to large …
Weak equity markets threaten metals
Base metals prices fell sharply during the report period July 15-19, erasing most of the gains made in aluminum and copper since the rally of late May and early June. However, the LME index of all bas…
Feds fund asbestos think tank
The federal government will provide $500,000 over two years to the Montreal-based Asbestos Institute, a non-profit organization that promotes the safe use of chrysotile asbestos.Natural Resources Cana…
Spot Prices Wed. July 24, 2002 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$313.60-$4.15Silver$ 4.86-$0.14Platinum$520.00-$…
Pit failure to cost Cameco 200,000 oz. (July 29, 2002)
A pit-wall failure that killed a miner at the Kumtor gold mine in Kyrgyzstan will reduce this year’s production by 200,000 oz., says part-owner Cameco (CCO-T).The rock slide, which happened in early J…
Plunging power profits hit Teck
Vancouver — Artificially high power prices brought on by an energy shortage in the U.S. battered the bottom line of Teck Cominco (TEK-T) in the second quarter.The world’s largest zinc miner earned $8…