METAL PRICES (October 18, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateOct. 12Oct. 11Oct. 8Oct. 7…
News
LATIN AMERICA — Atacama to develop Aguas Blancas
Atacama Minerals (AAM-V) is proceeding with development of the Aguas Blancas iodine heap-leach project in northern Chile.The project comprises 22,000 ha in the Atacama Desert, 95 km southeast of the p…
Cyprus Amax divests stake in Kinross
Cyprus Amax (CYM-N), clearing the decks for its merger with Phelps Dodge (PD-N), has arranged to sell its 31% holding in gold producer Kinross Gold (K-T) for $356 million.The deal will see t…
Companies (October 18, 1999)
Aber ResourcesAfrioreAnglo AmericanAnglogoldAntares Mining & ExplorationAsarcoAshanti GoldfieldsAshton Mining of CanadaAsia Pacific ResourcesAtna ResourcesBarrick GoldBattle Mountain GoldC…
Magadan pumps cash into mining operations — Production can’t keep pace with 1998 output
Regional officials in the prolific gold and silver region of Magadan, in northeastern Russia, have approved the financing of 11 upgrade and construction projects to the tune US$631.6 million.The news …
Lonmin makes offer for Ashanti Goldfields
Lonmin has come through with a merger offer for troubled Ashanti Goldfields (ASL-N), valuing the Ghanaian gold miner at US$820 million.The London-based platinum producer was offering 0.744 share for e…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Stocks decline as spot gold settles to US$320 per oz.
After several weeks of excitement, gold started to settle down during the holiday-shortened Oct. 6-12 report period, with spot prices restricted to within the US$315-325-per-oz. range. Over the week, …
Rock to re-drill Chilean copper prospect
Although no significant mineralization was encountered in last year’s limited drilling on the Coiron property in the Chilean Andes, a re-interpretation of the data from a subsequent induced-polarizati…
Hot values intersected at Silvertip
Peruvian Gold (PVO-V) and Imperial Metals (IPM-T) have encountered encouraging silver-zinc-lead values at their jointly held Silvertip project in northern British Columbia.The second hole of a 3-hole …
Sulliden ready to drill at Santo Toribio in Peru
Promising early results from the Santo Toribio project in Ancash department in west-central Peru offer Sulliden Exploration (SUE-M) hope it can imitate a nearby success story.Santo Toribio is about 7 …
Minefinders boosts Dolores (October 18, 1999)
Toronto-listed Minefinders (MFL-T) has arrived at a new resource estimate for its wholly owned Dolores gold-silver property in Mexico’s Chihuahua state.Using a cutoff grade of 0.3 gram, Minefinders ou…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — VSE quiet during short trading week
The Vancouver Stock Exchange composite index lost 2.01 points, or 0.5%, to close at 420.62 over the holiday-shortened report period ended Oct. 12. The mining index followed suit by dipping 2.21 points…