Attacks will cost Canada $5b
Canadian mining, along with manufacturing, transportation, tourism and retail, lost a total of $1.2 billion as a result of the Sept. 11 terrorist attacks in New York City, according to a report by a H…
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McWatters files reorganization plan (December 17, 2001)
McWatters Mining (MCW-T) has filed a plan of arrangement under the Companies’ Creditors Arrangement Act aimed getting a handle on its debt and resuming production at the Sigma-Lamaque open-pit gold mi…
Candente extends gold system in Peru
Vancouver — Mapping and geochemical sampling by Candente Resources (DNT-V) have uncovered a new gold target on the Lunahuana property near Lima in central Peru.Situated 1.5 km east of the previously …
Northern Miner Indices (December 17, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T18.7FalconbridgeFL-T5.9Franco-Nevada MiningFN-T6.5Freeport McMoRan Cop’r BFCX-N5.3Homestake MiningHM-N6.4IncoN-T9.4Newm…
Green light flashes for Thunderbox mine
Partners LionOre Mining International (LIM-T) and Australian-listed Dalrymple Resources will proceed with development of the Thunderbox gold project in Western Australia.With a 4-year finance facility…
Codelco plans copper cuts (December 17, 2001)
Vancouver — The world’s largest copper producer has finally entered the fold of the other majors by announcing it will cut output by at least 100,000 tonnes in 2002.The move by Chile’s state-owned Co…
Algoma Steel wins more time
Century-old steel producer Algoma Steel (ALG-T) is breathing a sigh of relief after the third time proved to be the charm for its debt restructuring.The company announced it has filed a third amended …
Silver Standard hits bonanza grades
Vancouver — Silver Standard Resources (SSO-V) has tabled more high-grade results from infill and exploration drilling at the Manantial Espejo silver-gold project in Argentina’s Santa Cruz province.So…
Not one watt?
Aluminum producer Alcoa, Newfoundland and Labrador Hydro, and the government of Newfoundland recently finished a joint study on the feasibility of building an aluminum smelter that would use power fro…
Platinum demand at new high
Demand for platinum is expected to rise by 5% to a record 5.9 million oz. in 2001, and the climb is being led by a 25% rise in demand from the auto industry, owing to increased market share for diesel…
Home-owners on unstable ground: province
The Ontario government evacuated several residents living close to the defunct Toburn gold mine, near Kirkland Lake, Ont., after it was discovered their homes rest on unstable ground.Ground stability …
BC committed to geoscience
The government of British Columbia is committed to building a thriving private-sector economy that creates high-paying job opportunities, including those in the mining and mineral exploration industry…