News

A 2-year drilling program by Eastmain Resources (er-t) at the Eau Claire gold deposit in the James Bay region of Quebec has increased the known resource.

CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)

The consensus among manufacturers of silver-based biocides is that architectural applications in North America and Northern Europe will be the main market in the near future.

The report period ending April 27 was marked by the long-awaited closing of the merger between AngloGold and Ashanti Goldfields. The new entity, named AngloGold Ashanti, ranks as the world’s…

Antimony: Mid-mkt US$2,680/t.

TSX VENTURE EXCHANGE…

The federal government will contribute $3 million to the cost of building an all-weather bridge across the Mackenzie River at Fort Providence, N.W.T. Upon completion, in 2006, vehicles serving mines in the area will have to pay tolls.

Denver-based Constellation Copper (ccu-t) has retained Jacobs Engineering Group to carry out a bankable feasibility study of the Terrazas copper-zinc oxide project in Mexico’s Chihuahua state.

Barrick Gold (abx-t) earned about 10% less in the recent first quarter than in the comparable period of 2003, as a US$10-million after-tax derivative loss offset higher gold prices and increased production.

Alcan (al-t) plans to save an additional US$110 million as a result of its recent, multi-billion-dollar takeover of French rival Pechiney.

Accelerated removal of waste in the first quarter has allowed Freeport-McMoRan Copper & Gold (fcx-n) to resume mining higher-grade areas in the Grasberg open-pit mine in Papua, Indonesia.