Phelps Dodge records profit for quarter
With increased earnings per share resulting from an extended share buy-back program, Phelps Dodge (PD-N) reported a profit for the second quarter of 1997.The major earned US$134.8 million (or US$2.16 …
News
Rio Algom, Inmet expand Antamina deposit
Once again, partners Rio Algom (ROM-T) and Inmet Mining (IMN-T) have boosted the resource estimate of the Antamina copper-zinc deposit in Peru.The total in-pit resource is now pegged at a minimum of 5…
DIAMOND PAGE — Trivalence increases production in Guinea
Junior Trivalence Mining (TMI-V) reports an increase in test-phase diamond production at its Aredor diamond concession in Guinea, West Africa.In June, the company processed 20,203 tonnes of alluvial m…
Homestake eyes Polish potential
Homestake Mining (HM-N) can earn a minimum 75% interest in several gold properties in western Poland controlled by FX Energy, an oil and gas firm based in Salt Lake City, Utah.Homestake will spend US$…
ConSil increases Mexican resource
Idaho-based ConSil (CS-V) will buy the assets of Minas la Colorada, a Mexican company which owns two silver mines in Zacatecas state.ConSil reached the agreement with the principal shareholders of Min…
ODDS ‘N’ SODS — Mission: Impossible
Mining properties with mineral grades a little too low for comfort are not new.In fact, The Northern Miner reported on a property with, as it turned out, low grades sometime in the late 1950s or early…
DIAMOND PAGE — Botswana finances African projects — Water Fissure program near completion
Funds from a warrant offering are allowing Botswana Diamondfields (BWD-V) to continue exploring several of its diamond projects in Botswana and South Africa.The company raised $9.6 million through the…
DIAMOND PAGE — SouthernEra sells first Klipspringer gems — More Angolan diamonds also sold
SouthernEra Resources (SUF-T) has completed the first sale of diamonds from its Klipspringer project in South Africa’s Northern Province.The company will receive US$573,662 from the sale of a parcel t…
STOCK MARKETS — Summer doldrums descend on western markets — Investors adopt wait-And-see strategy for projects in Timmins camp
Junior companies are pulling in their horns and preparing for a quiet summer in the hope that market prospects and gold prices will improve this autumn. While many companies are finding that it is not…
Ecuadorian, Newcrest form JV in Peru
Australian gold miner Newcrest Mining and Ecuadorian Minerals (EMC-T) plan to acquire the Ayapata gold project in southern Peru.For its part, Ecuadorian can pick up the 10-sq.-km property, subject to …
Mar-West, Curion launch Honduran drill program
At the San Martin concession in central Honduras, drilling is set to begin testing the Palo Ralo prospect, 2 km west of the newly discovered Sinter hot springs gold deposit.The concession is held 80% …
COMMENTARY — A passing of the torch
The author, who was appointed Minister of Natural Resources following the Canadian federal election in June, provided the following article at the request of Keep Mining in Canada, an organization des…