De Beers confirms commitment to Canada
Although its roots are in South Africa, De Beers believes the emphasis given to Canadian diamond exploration is fully justified. Last year, Canada accounted for 40% of the US$73 million the company sp…
BHP Billiton
WMC suffers headaches at Olympic Dam
WMC (WMC-N) has run into more operational difficulties at its massive Olympic Dam copper smelter in South Australia, and will suffer depressed earnings for the next 18 months as a result.The company h…
Gold’s prospects dominate Aussie mining conference
Kalgoorlie, Australia — Consolidation in the gold mining sector and an optimistic outlook for the price of bullion over the next 18 months had delegates in high-spirits at the 10th annual Diggers & D…
Gold price drives junior exchange
Vancouver — Junior resource stocks started to make a comeback over the holiday-shortened week ended Aug. 6 as economic uncertainty deepened in the U.S. The TSX Venture Exchange composite index closed…
Ekati turns in strong performance
In the Lac de Gras area of the Northwest Territories, some 300 km northeast of Yellowknife, Canada’s lone diamond mine churned out 4.56 million carats of stones for the fiscal year ended June 30, 2002…
Newmont rises with strong quarter
Newmont Mining turned in its first quarterly report since its mega-merger with Franco-Nevada Mining and Normandy Mining, and the results augur well for the company’s future. The company, now the world…
Pechiney bolsters global aluminum production
Paris-based Aluminum giant Pechiney has won several production contracts, which will boost capacity at several major smelters.Output at Aluminum Bahrain, in Alba, will be increased by 308,000 tons. At…
Proposals sink SA shares
The stocks of South African-based miners headed south during the report period ended July 30 as political risk made a stark reappearance.In a document leaked to a Johannesburg-based web site in late J…
Pyhasalmi works for Inmet
In spite of low prices for zinc and copper, Inmet Mining (IMN-T) saw good operating performance from its two copper-zinc mines, Pyhasalmi in Finland and Cayeli in Turkey, and posted a $1.6-million pro…
US mining shares walloped
The 7-day period that ended July 23 was marked by relentless waves of panic selling in markets across the world. In the U.S., the S&P 500 index sank 11.4% to 797.71 points, the Dow Jones Industrial Av…
Majescor takes bulk sample at Wemindji
Majescor Resources (MAJ-V) has collected a large bulk sample from a 1.8-metre-thick sill of kimberlitic material at the Wemindji diamond property in Quebec. Results are pending.The pit measures 10 met…
SouthernEra recovers gems
The first hole drilled into the Sue kimberlite pipe in the Northwest Territories has yielded 95 diamonds for SouthernEra Resources (SUF-T).Sue is part of the Yamba Lake property, in which SouthernEra …