SpectrumGold picks up Galore Creek
Vancouver — SpectrumGold has inked a deal with mining giants Rio Tinto (RTP-N) and Anglo American (AAUK-Q) to buy the Galore Creek gold-silver-copper deposit in northwestern British Columbia.
Anglo American plc
Juniors advance Philippine projects
Vancouver — Despite an array of political and legal hurdles, a growing number of Canadian and Australian exploration companies are reporting progress at projects in the Philippines.Among the Canadian…
Ashanti bidders rebound
Mid-tier producer Randgold Resources made headlines during the week ending Aug. 12 by topping AngloGold’s bid for Ashanti Goldfields by about US$100 million. Randgold is offering one of its own…
De Beers boasts strong first half
Although the De Beers name is inevitably associated with polished diamonds and diamond jewelry, its core business remains the exploration for, and mining and marketing of, rough diamond gems.In 2002, …
Harmony ties knot with African Rainbow
South Africa’s Competition Commission has approved the proposed merger of Harmony Gold (HMY-N) and black empowerment company African Rainbow Minerals Gold.The decision paves the way for the creation o…
WMC exits Canada
One of the most significant deals of the report period was the agreement to merge WMC Resources’ Canadian subsidiary WMC International with Canadian junior gold explorer Comaplex Minerals.Comaplex wil…
Good widths at Morro do Vento
The first three holes drilled by Desert Sun Mining (DSM-T) at the Morro do Vento prospect in the Jacobina area of Bahia state, Brazil, have intersected multiple zones of gold mineralization.Desert Sun…
Philex, Anglo drill Boyongan
Vancouver — Drilling has so far failed to find additional resources at the North project in the Philippines.Partners Philex Gold (PGI-V) and Anglo American (AAUK-Q) have seven rigs turning in an effo…
Yandal deadline passes
Newmont Mining has had partial success sorting out the financial problems at its Yandal gold subsidiary in Australia.On March 27, Newmont brashly gave its hedging counterparties and its noteholders at…
Base metal miners advance
Buoyed by renewed strength in base metals prices, particularly in the nickel market, most of the base metal majors made gains during the report period ended May 27.Pechiney eased up 4 to US$14.05 as …
AngloGold eyes top spot with Ashanti takeover
Looking to regain top spot among global gold producers, South Africa’s AngloGold (AU-N) has entered talks aimed at achieving a merger with Ghana-based Ashanti Goldfields (ASL-N).The talks are centred …
Miners have volatile week
U.S. stock markets advanced modestly over the five trading days May 7-13, with the Standard & Poor’s 500 index up 7.91 points at 942.30 and the Dow Jones industrial average 90.89 points higher at 8,67…