Cambior streamlines debt load
After more than a year of twists and turns, Cambior (CBJ-T) has finally completed an extensive restructuring, shedding most of its non-gold assets and streamlining its debt load and hedge book.The res…
Glamis Gold Ltd
San Martin success adds to allure of Glamis Gold
The newly constructed San Martin mine, which will likely become the flagship operation of Glamis Gold (GLG-T), made its first shipment of gold from Honduras in mid-December 2000.The 4,000-oz. shipment…
Rate cut can’t stop slide
Denver — The sudden interest rate cut by the U.S. Federal Reserve put a charge into the market on Jan. 3, only to see record-setting gains evaporate. The market finished the report period ended Jan. …
Alma, Magnola startups highlight year in Quebec
While there were no mine openings in Quebec in 2000, the industry could draw some cheer from the startup, in the latter half of the year, of two major metallurgical plants.In October, just 32 months a…
Mergers dominate lacklustre year in US mining
Denver — The year 2000 began on a note of optimism for mining in the U.S. The Washington Agreement, an accord of Europe’s top bullion-holders that aims to regulate and limit sales, promised to revive…
Low commodity prices, high costs cast pall over 2000
Vancouver — The brutal combination of high costs and weak commodity prices translated into more mine closures than openings in the past year. Several companies were forced to suspend mining and devel…
Glamis sues BLM, Babbit over Imperial project ruling
A unit of Glamis Gold (GLG-N) has filed suit against Bruce Babbitt, secretary of the Interior, the U.S. Department of the Interior and the Bureau of Land Management (BLM) after a legal opinion was use…
Tough times between the Gulf and the Pacific
Depressed gold prices are leaving producers little room for error these days, nowhere more so than in Mexico and Central America.Greenstone Resources, dead at the age of 17 years from financial asphyx…
Radius advances Latin American gold prospects
With two previous discoveries under their belts in Central America, the principals of Radius Explorations (RDU-V) have turned their attention to two promising gold prospects: El Salitre, 15 km west of…
Gold benefits from recent market whipsaw
The Dow Jones industrial average climbed 228.73 points to finish the report period ended April 4 at 11,164.84, despite wild fluctuations on the last trading day. It plunged as much as 500 points durin…
Glamis gets green light for mine in Honduras
Junior Glamis Gold (GLG-N) has received the final operating permit at the San Martin mine in Honduras, allowing the Reno-based company to begin production.Glamis broke ground at the site, 55 miles nor…
Glamis feels price pinch
Despite an increase in gold production, Glamis Gold (GLD-T) was unable to turn a profit in 1999. The company posted a loss of US$21.3 million (or US33 per share) on revenue of US$57.5 million, compar…