CLARIFICATION
A report in our Oct. 28 issue states that St Andrew Goldfields (SAS-T) intends to earn a majority interest in the Timmins gold project of Holmer Gold (HGM-T). In fact, the agreement only covers the pr…
Articles by Northern Miner Staff
China restructures mining laws for Western players — ‘Friendly’ revisions fail to address concerns over preset gold prices
The Chinese government has upgraded its Mining Code in an attempt to lure more foreign investors, but mining firms remain critical of a component that prohibits gold hedging.The changes allow foreign …
Investment Commentary — Freeport gets nod for improved financial results
In the copper world, things don’t get much better than US8 cents per lb., which is the lowest cost of production ever reported by Freeport-McMoRan Copper & Gold (FCX-N) from its vast Grasberg mine in …
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — Western markets continue slump as gold slides
The Vancouver Stock Exchange composite index sunk through the 400-point level, losing 8.61 points, or 2.1%, to close the report period ended Oct. 26 at 395.20. Meanwhile, the mining index lost ground …
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Majors sag as gold sinks below US$300 per oz.
The party came to an abrupt end during the Oct. 20-26 report period as gold nosedived US$19.35 to hit US$290.40 per oz. on the London morning fix of Oct. 27.During the last week of October, most of th…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Miners tarnish as gold falls
The Dow Jones industrial average slipped 97.2 points, or 0.01%, during the report period ended Oct. 26 to close at 10,302.13.Mining issues tumbled as gold continued its fall to US$288.90 on the Comex …
METAL PRICES (November 01, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateOct. 26Oct. 25Oct. 22Oct. 21…
Asarco joins Grupo Mexico
Asarco (AR-N) has terminated its merger agreement with Phelps Dodge (PD-N) and paid the required US$30-million breakup fee. The New York, N.Y.-based copper producer has instead accepted a cash proposa…
Starcore drills Samuels Lake
Partners Starcore Resources (SOE-V) and ProAm Explorations (PMX-V) have intersected more copper, nickel, cobalt and platinum group metals mineralization at their Samuels Lake property in northwestern …
Rio Narcea aims for growth through discovery
A strong commitment to exploration is beginning to pay off for Rio Narcea Gold Mines (RNG-T), owner and operator of the El Valle mine near this coastal city in Asturias province. Recent drilling has r…
PacMin advances Aussie gold project to feasibility
In advancing the Carosue Dam gold project to feasibility, Teck’s (TEK-T) Australian subsidiary, PacMin Mining (pml), is using the experience gained from its Tarmoola mine operations to control operati…
Cominco boosts Teck earnings
Teck (TEK-T) has posted a healthy third-quarter profit, buoyed by the contribution from its equity stake in base metal major Cominco (CLT-T).Teck earned $12 million (or 11 cents per share) on revenue …