Mining a model of productivity
A new study has found that the Canadian primary metals sector has the highest overall ranking among all industrial sectors for use and application of advanced technologies.The study, titled Mining Inn…
News
CVRD, Codelco in talks
Chilean state copper enterprise Codelco and privatized Brazilian miner Companhia Vale do Rio Doce (CVRD) (RIO.PR-N) are negotiating to form a joint copper-producing venture in the Americas.CVRD, the l…
Saskatchewan finances diamond exploration
The federal and Saskatchewan governments will jointly fund a geological study of diamond-bearing rock in the Fort la Corne area, 50 km north of Prince Albert.The federal portion of the funding is pa…
More gold in Caucasia: study
Several countries in Central Asia have the potential to become major gold producers, according to a report by the London-based World Gold Council.The report, titled The Golden Road: The Importance of …
Shanghai gold exchange opens
China took another step toward deregulation of its gold market in late November when the Shanghai Gold Exchange opened its doors for a day of simulated trading to test its electronic trading system.In…
Lonmin buys back shares
London-listed mining house Lonmin, unable to find an attractive acquisition in the platinum business, has decided to distribute some of its large cash reserve to shareholders in a buy-back.Shareholder…
A lesson from Enron
The collapse of commodity and derivatives trader Enron has offered market-watchers plenty of entertainment over the past four months. There was the precipitous departure of its chief executive, Jeffre…
Alcoa breaks off WMC bid
Aluminum giant Alcoa (AA-N), rebuffed in a takeover bid for diversified Australian miner WMC (WMC-N), says it will “turn its attention to other growth initiatives elsewhere.”Frustrated by WMC’s propos…
TSE builds up after profit-taking
Investors took profits after the Bank of Canada cut its principal lending rate on Nov. 27, leaving the Toronto Stock Exchange playing catch-up for the report period Nov. 28-Dec. 4.The TSE 300 composit…
Spot Prices Wed. December 5, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$275.75+$1.15Silver$ 4.15+$0.06Platinum…
Alcoa proposes Labrador smelter
The Newfoundland government spent the Nov. 28-Dec. 4 report period assessing an Alcoa feasibility study into the possibility of reviving the stalled Lower Churchill hydroelectric project in Labrador. …
Summo, Matrix seek cash for Mt. Watson prospect
Low metal prices continue to hold back copper-oxide specialist Summo Minerals (SMA-T), which expects to rely on debt financing to keep its portfolio of development properties going.Summo’s only produc…