Bema adds South African production
The acquisition of the Petrex mines in South Africa is expected to provide Bema Gold (BGO-T) with an additional 200,000 oz. of gold production per year, adding to its 100,000-oz. annual production bas…
News
Partners find kimberlite near Rankin Inlet
Led by promising indicator mineral chemistry, Cumberland Resources (CBD-T) and Comaplex Minerals (CMF-T) have intersected a kimberlite-pipe-like body in the first drill hole of a program designed to t…
Coloured gemstones
Thanks to Chuck Fipke, the entire mining industry, along with most other Canadians, realize that there are mineral commodities aside from metals worth exploring for. Whereas only a handful of companie…
Global industrial production and what it means for mining, Part 1
The focus of most analysis of the world economy continues to be the “developed” countries, and understandably so. These countries, commonly represented by the Organization for Economic Co-operation an…
AMF raises $1.8 million (June 02, 2003)
London-based America Mineral Fields (AMZ-T) will finance further development of its African projects through a private placement of 4 million units priced at 45 each. Gross proceeds amount to $1.8 mi…
NUM ends strike at Buffels
The National Union of Mineworkers (NUM) has called off a strike by more than 2,000 workers at Durban Roodepoort Deep’s Buffelfontein gold mine in northwestern South Africa following wage agreements wi…
Jacobina zones shaping up for Desert Sun (June 02, 2003)
Drilling by Desert Sun Mining (DSM-V) at the Jacobina project in Bahia state, Brazil, has established potential for a near-surface gold deposit.Desert Sun recently drilled 12 holes at the Serra do Cor…
Anooraq drills at South Block
Having raised $728,000 in a private placement of 1.4 million shares priced at 52 apiece, Anooraq Resources (ARQ-V) is preparing to drill its South Block project, on the northern limb of the Bushveld …
Ontario to spend more on mine rehab
The Ontario government has entered into a 2-year partnership with the Ontario Mining Association (OMA) to clean up abandoned mine sites.Under the program, the province will match OMA funds directed to…
Spot Prices Wednesday May 28, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$364.55-0.35Silver$4.59-0.15Platinum$671.00-9.00P…
BHP Billiton settles with ex-CEO
Not bad for half a year’s work: after serving only six months as CEO of BHP Billiton (BHP-N) before quitting, Brian Gilbertson has been awarded a 4.1-million (US$6.7-million) exit settlement.Gilberts…
Producer and Dealer Prices (June 02, 2003)
Antimony: Mid-mkt US$2,590/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$9.40-10.25/lb.Copper: Comex July US$0.778/lb.Indium: Indium Corp., ingot, US$140/kg.Iridiu…