News in Brief (February 22, 1988)
A proposed merger between Central Crude Ltd. and Noront Resources has been cancelled, both companies say.
Articles by Northern Miner Staff
Cream Silver drilling sparks environmental uproar at Strathcona
After a 14-year moratorium, Cream Silver Mines was testing the environmental waters when it started drilling a 5-hole program on its polymetallic deposit in Strathcona Park on Vancouver Island. The wa…
U.S. Platinum relocates refinery
One of the few North American companies collecting and refining platinum group metals, U.S. Platinum has moved its refinery from Golden to Denver, Colo. Relocating and streamlining the refinery operat…
Metal Prices FUTURES PRICES (February 22, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Feb 108.75 108.00 108.55 + 6.55 Mar 106.75 …
Master rehabilitating Hunter mine, Timmins
Water from the 75-year-old Hunter mine near Timmins, Ont., has been pumped down to the first level. Sheathing is being installed on new surface buildings and drifting should begin underground in early…
Chevron still operator BYG could revive Mt. Nansen
The old Mt. Nansen gold mine near Carmacks, Y.T., could resume production later this year on an open pit basis now that majority ownership is being acquired by BYG Resources. A wholly-owned subsidiary…
McKinnon scholarships
Don McKinnon, well known for his role in the Hemlo, Ont., gold discovery, has donated $20,000 in scholarship funds to the Haileybury School of Mines. The funds, to be known as the Don McKinnon Scholar…
TVX adds Chilean mine to portfolio
Toronto-based Consolidated TVX Mining has just added to its Latin American precious metal portfolio by acquiring a stake in a Chilean gold/silver prospect from Consolidated Goldfields. Already Brazil’…
Newmont output 1.6m oz by 1990
When a gold mining company has enough reserves in the ground to overtake North America’s largest producers, it can afford to be extravagant. That’s why New York-based Newmont Gold will spend $404 mill…
METAL MARKETS Lower costs aid producers
Learning to survive with low copper prices for most of this decade made the return last year to higher metal prices even sweeter for North American copper producers. Among those reporting sigificant g…
La Fosse purchase
Iron ore mining leases in northern Quebec belonging to Hollinger North Shore Exploration have been acquired by La Fosse Platinum. La Fosse gained control of the leases, which also contain manganese an…
Profitable year reported at tame Corona meeting
What a difference a year makes. This year’s annual meeting of International Corona Resources bore no resemblance to the raucous 1987 version at which Murray Pezim, then vice-chairman, stormed out in d…