News

It is politically impossible to rein in a bureaucracy of managerial environmentalists” that has overseen expenditures of US$10 billion since 1980 while implementing and administering Superfund progra…

Week’s Price (US) Change Gold* $360.00 — $ 3.75 Silver* $ 3.61 — $ 0.09 Platinum* $393.50 + $ 5.50 Nickel** $ 3.92 — $ 0.06 Lead** $ 0.27 $ 0.00 Copper{ $ 1.12 — $ 0.01 Zinc{{ $ 0.55 + $ 0.01 Cour…

Societe Miniere Sphinx (VSE) is diversifying into oil and gas. President Michel David said his company has bought (subject to regulatory approval) a 15% interest in a gas recompletion well in Alberta …

Noranda Minerals, a unit of Noranda (TSE), has decided to shut down operations this spring at its Mattabi and Lyon Lake base metal divisions, about 80 km north of Ignace, Ont. The company cited recent…

Despite extreme volatility in the oil markets, weak gold prices and a US$4.2-million fourth-quarter loss, Toronto-based Horsham (TSE) had another profitable year. Horsham, which controls gold producer…

Falconbridge, the free world’s second largest nickel producer, says it is able to meet the Ontario government’s 1994 “Countdown Acid Rain” goal three years ahead of schedule. The government’s 1994 lim…

A diamond drilling program has started on Northern Abitibi Mining’s (ASE) Douay Twp. gold property under option to Inco (TSE) and Vior (ME) in northwestern Quebec. Equal partners Inco and Vior can ear…

Although details have yet to be finalized, the 1991 field program for the Frasergold project near Williams Lake, B.C., is expected to include more diamond and reverse circulation drilling and undergro…

A breakdown of total preliminary reserves (T.N.M., Feb. 18/91) for five deposits of the New World gold-silver-copper project in Montana of Crown Butte Resources (TSE) and Noranda (TSE) should have app…

N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Mar 114.00 112.25 112.50 + 2.45 Apr 111.00 110.20 110.70 + 2.50 May 110.10 108.60 108.90 SILVER (in US cents per …

Toronto-based gold producer Wharf Resources (TSE) reported a loss of US$5.8 million (33 cents per share) for the year ended Dec. 31, 1990, after the company wrote off its US$11.5-million investment in…

At the 59th annual convention of the Prospectors and Developers Association of Canada (PDAC), Quebec Mines Minister Lise Bacon will address the audience. Also scheduled to address the convention is Au…