IP targets tested at Munro
Partners Queenston Mining (QMI-T) and Franco-Nevada Mining (FN-T) have begun drilling geophysical targets at the their Munro property near Kirkland Lake, Ont.Eight holes totalling 2,740 metres will te…
News
Rio Tinto buys coal mine
Rio Tinto (RTP-N) has agreed to buy an 80% stake in an Australian coal mine from Atlantic Richfield for US$150 million.Rio’s operating subsidiary, Pacific Coal, expects to reopen the Gordonstone mine …
Cyprus Amax places coal subsidiary on block
In an effort to eliminate debt, Cyprus Amax Minerals (CYM-N) is seeking a buyer for its coal subsidiary.Cyprus Amax Coal Co. is one of the leading coal producers in the U.S., with operations in Pennsy…
Juniors to drill Batchawana
Fort Knox Gold Resources (FNX-T) and Aurogin Resources (AUQ-V) are collaborating on a diamond drill program at the later’s Batchawana polymetallic property near Sault Ste. Marie, Ont.By year-end, betw…
Inco hit by weak demand
Low nickel prices cut deep into Inco’s (N-T) sales revenue and pulled the major back into the red during the third quarter.For the three months ended Sept. 30, Inco lost US$24 million (or 18 cents per…
Phelps Dodge slashes production (November 02, 1998)
Succumbing to the pressures of low metal prices, Phelps Dodge (PD-N) has decided to cut copper production at three mines.The company will curtail production at two mines in New Mexico and one in Chile…
Cominco suffers loss in third quarter
Low metal prices, a weaker Canadian dollar and an operating loss at its Trail production facilities in southeastern British Columbia all contributed to a less-than-stellar third quarter for Cominco (C…
Ontex to merge with Fortune subsidiary
An agreement between four companies closes the book on a long-running property dispute between Ontex Resources (ONT-A) and Metalore Resources (MET-T), and gives Fortune Minerals (FT-T) effective contr…
Falco on cost-cutting track
Pushed by low prices for nickel, copper and zinc, Falconbridge (FL-T) slipped a little deeper into the red during the past quarter.For the three months ended Sept. 30, the company lost $10.5 million (…
Teck to go underground at Pogo
At the Pogo gold project in east-central Alaska, Teck (TEK-T) has completed a $5.5-million program of surface exploration consisting of 91,000 ft. of definition and stepout drilling in 97 core holes.T…
EDITORIAL & OPINION — Easier to destroy than to build — Tuning out
Politics has always been a blood sport, but it has been painful in this year of global economic crisis to watch some American politicians focus on little else than their obsession to remove President …
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Oro Nevada takeover fizzles
Vancouver-based American Copper (ACC-V) is mulling its options after intended takeover target Oro Nevada Resources (ONV-A) announced plans to sell the Dean Ranch gold property in Nevada’s Crescent Val…