Barrick looks for 2003 turnaround
The message is out from Barrick Gold (ABX-T): the management shakeup that saw director Gregory Wilkins replace Randall Oliphant as chief executive officer is part of an effort to restore the company’s…
News
First Quantum tables Kansanshi report
An independent feasibility study has given First Quantum Minerals (FM-T) the green light to develop the Kansanshi copper deposit in Zambia.The study, prepared by GRDMinproc of Australia, concludes tha…
Sigma reopens
McWatters Mining’s (MWA-T) gold mill at the Sigma open-pit operations in Val d’Or, Que., has resumed commercial production. The mill began its ramp-up in late November, after capacity was boosted to 5…
Record output for Glamis
Vancouver — Glamis Gold (GLG-T) lowered costs while ramping up production in 2002.The Reno-based company made a profit of US$13.7 million (or US14 per share) for the year, compared to US$4.8 million…
Gold Fields eyes Nunavut gold belt (February 24, 2003)
Vancouver — Gold Fields (GFI-N) has inked a deal with Committee Bay Resources (CBR-V) paving the way for the major to earn a 75% stake in a land package northeast of Baker Lake in Nunavut.The South A…
Glamis makes gains
A number of things separate Glamis Gold from its Vancouver counterparts. The first would have to be its “low-key” approach to doing business.The second relates to the fact that it showed a net profit …
LME Warehouse Levels (February 24, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 18 (change from Feb. 11 in brackets):MetalStock(tonnes)ChangeAluminium1191600(-4…
Roundup’s success may mean good things Western sunrise
Last year and the year before, the Vancouver mining set’s annual January fixture, the Cordilleran Roundup, offered a sweet-scented promise of spring coming to the mining business. In 2001, there was h…
Insider Trading: Option spree continues through winter
Recent insider trading transactions reported by the Ontario Securities Commission include the following:r Anatolia Minerals Development (YMCU-V) — James Davidson, director, sold 14,500 shares indirec…
Andaurex eyes Meliadine
Vancouver — Australia’s WMC Resources (WMC-N) has an interested buyer for its 56% stake in the Meliadine West gold property in Nunavut.Andaurex Industries (AWX-V) and Sakku Investments, a wholly owne…
Lending Rates (February 24, 2003)
as of 4 pm ET, Feb.18, 2003(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount0.75U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.35LIBOR US$ 6-month1.35LIBOR US$ 1-year1.43Gold lease 3-m…
Gold takes centre-stage at Cordilleran
Vancouver — Enthusiasm for gold prevailed at the recent Cordilleran Roundup, held at this city’s Westin Bayshore Resort and Marina.About 3,000 delegates and 150 exhibitors attended the 5-day event, w…