US markets stay weak
Stock markets in the U.S. were little-changed over the holiday-shortened trading period July 3-9. Over four trading days, the Dow Jones Industrial Average managed a 1% gain, to 9,096.09 points, while …
BHP Billiton
Diamonds North targets Victoria Island (July 08, 2002)
Hoping to capitalize on a revitalized diamond exploration sector that has been fueled by recent kimberlite discoveries in Quebec and the Coronation district of Nunavut, Major General Resources has spu…
Weaker U.S. stocks stumble
With markets weakening across the board, mining stocks were generally lower on U.S. exchanges. The Dow Jones Industrial Average fell 119.07 points, or 1.3% of value, over the five trading days from Ju…
Cameco buys Smith Ranch
Cameco (CCO-T), the world’s largest uranium supplier, just got bigger.The Saskatoon, Sask.-based company has agreed to buy the Smith Ranch in situ leach mine and various other ISL properties in Wyomin…
Regional exploration turns up new prospects at Hope Bay
Cashed up after a $30-million financing, Miramar Mining (MAE-T) has found a number of new targets to use the money on after a regional exploration program on its Hope Bay project in Nunavut.The Hope B…
Golds retrench
With bullion prices finding new support at around US$318 per oz., the U.S.-listed gold companies spent the report period June 12-18 consolidating at levels about 5% lower than the 52-week highs attain…
Benchmark lowered, resource stocks end mixed
The Toronto Stock Exchange S&P/TSX composite index shed 71.29 points over the June 12-18 trading period to finish at 7,327.54.Gold rose US$2.30 in overseas trading to settle at a London morning fix of…
Turquoise Hill rights expire for BHP Billiton
BHP Billiton’s (BHP-N) back-in rights for a 40% stake in Ivanhoe Mines’ (IVN-T) Turquoise Hill project in southern Mongolia have expired.The rights would have become exercisable had BHP identified a p…
Ashton still bullish on Otish Mountains
Six years of regional reconnaissance exploration by Ashton Mining of Canada (ACA-T) and Soquem in the eastern Superior Craton of northern Quebec paid off in the fall of 2001 with the discovery of two …
Manitoba kimberlites prove elusive
Vancouver — A 1999 report by the Manitoba Geological Survey which showed that the province is geologically prospective for hosting diamond occurrences sparked a staking rush in the Superior craton. H…
Mineral output climbs
The value of production for the Canadian mineral industry, excluding oil and gas but including coal, increased to $19.84 billion in 2000, up $1.13 billion, or 6.7%, from 1999.Metal mining accounted fo…
Better fundamentals prop up base metals prices
So far in the second quarter, base metals have turned in a disappointing performance. But although the prospects for a concerted recovery in prices over the second half of the year are tentative at be…