Kumtor hurts Cameco
A pit failure at the Kumtor gold mine in Kyrgyzstan more than halved Cameco’s (CCO-T) earnings in the third quarter.For the three months ended Sept. 30, Cameco pocketed $7 million (or 12 per share) o…
News
Exchange Rates (November 11, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateNov. 5Nov. 4Nov. 1Oct. 31Oct. 30US$ in C$1.55621.55501.5576…
LME Warehouse Levels (November 11, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Nov. 5 (change from Oct. 29 in brackets):MetalStock (tonnes)ChangeAluminium1296925(+2…
St. Elias starts drilling
Vancouver — Junior St. Elias Mines (SLI-V) has launched a 1,500-metre drill program on the Gralheira-Jales gold property in northern Portugal.Situated in the Tras-O-Montes region, the project covers …
Anaconda writedown sinks Sherritt
A $29.8-milllion writedown on its investment in troubled Aussie laterite nickel miner Anaconda Nickel sent Sherritt International (S-T) $1.1 million into the red during the three months ended Sept. 30…
CIM hosts oyster party
Members of the Toronto branch of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) are invited to the CIM’s 78th annual oyster party on Nov. 14 at First Canadian Place.In addition to oy…
Fewer greenhouse gases
To help ensure continuous reduction of greenhouse gases (GHGs), companies that are members of the Mining Association of Canada have pledged to decrease their energy consumption per unit of output by 1…
MAC takes stand against Kyoto
The Mining Association of Canada has joined the Canadian Coalition for Responsible Environmental Solutions (CCRES) in opposing ratification of the Kyoto treaty.Under the 1997 Kyoto treaty, industriali…
Olympus proves up Phuoc Son
Vancouver — Olympus Pacific Minerals (OYM-V) has intersected encouraging gold values at the Phuoc Son project in central Vietnam.The 2,300-metre reconnaissance program identified three prospects that…
Weak copper prices hamper Phelps Dodge’s bottom line
Vancouver — As copper prices continue to linger near lows not seen since 1987, Arizona-based Phelps Dodge (PD-N) is intent on trimming its losses by driving down operating costs.The world’s second-la…
Ottawa left with bill for northern cleanup
Abandoned mines in Canada’s far north are polluting the tundra, and fixing the problem could cost the federal government $640 million, according to federal documents.One of the largest environmental t…
SouthernEra sees potential at Sue
Encouraged by the microdiamond results from this past year’s drilling on the Sue kimberlite pipe at the Yamba Lake project in the Northwest Territories, SouthernEra Resources (SUF-T) will test about a…