Asarco ponders Mission closure
Vancouver — Asarco, the U.S. subsidiary of Grupo Mexico, is considering closing its Mission copper mine is southern Arizona.The announcement, prompted by high production costs and low copper prices, …
News
More output, fewer workers
Mineral production is increasing as mining employment steadily declines, according to a report produced by the United Nations’ International Labour Office (ILO) in Geneva. The report points out that m…
Higher prices spell profit for Inmet
Higher metal prices and a strong performance by the Pyhasalmi copper-zinc mine in Finland propelled Inmet Mining (IMN-T) to a profit in the third quarter.The company earned $3.7 million (or 7 per sha…
Higher earnings for Richmont
Buoyed by higher gold prices, Richmont Mines (RIC-T) wrapped up its second straight profitable quarter at the end of September.Earnings approached $4.3 million (or 28 per share) on revenue of $17.3 m…
NEWS
Falco’s McLean to address geologistsScott McLean, a regional geologist with Falconbridge, will discuss his company’s exploration strategy at a meeting of the Toronto Geological Discussion Group, sched…
Committee Bay eyes Nunavut gold belt
Vancouver — Finding financing for grassroots exploration projects is difficult at the best of times, and nearly impossible during an economic slow down. However, privately owned Committee Bay Resourc…
Siberian mines power High River Gold in 2002
Toronto-based High River Gold Mines (HRG-T) saw its revenues more than triple during the first half of the year as it began consolidating operating results from the Russian gold-mining company OJSC Bu…
Critic should give examples
Two articles in the Financial Post on resource and reserve estimation in the mining industry (“Whistleblower raises doubts over orebodies” and “Consultant Jan Merks — a bit of a rebel,” Sept. 30/02) …
Dynatec eyes producer status (November 04, 2002)
With demand for contract mining slumping, Dynatec (DY-T) saw its third-quarter profit fall to $20,000 (or nil per share) from year-earlier earnings of $2.7 million (2.4 per share). Revenue between th…
Bema looks to Russia for high grades
Vancouver — Bema Gold (BGO-T) has inked a deal with the government of the Chukotka, an autonomous region in northeastern Russia, to acquire up to a 75% interest in the high-grade Kupol gold and silve…
Int’l Gold drills Myrtle
Vancouver — International Wayside Gold Mines (IWA-V) reports that assay results from two of five holes on its Myrtle claims have intersected high-grade gold mineralization.Situated near Wells, B.C., …
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