Weather wreaks havoc on Chilean mines
Heavy snowfalls and rains have caused widespread problems for mines in northern Chile. Hardest hit was the Refugio gold mine, owned by Bema Gold (BGO-X) and Amax Gold (AU-N).Several metres of snowfall…
Phelps Dodge Corporation
BASE METALS — Cobre Mining has shares listed on TSE, expands mill at Continental copper operation
After three years of operations as a private company, Cobre Mining, owner of the Continental copper mine in southern New Mexico (CBU-T), has decided to go public.So far, this year has been a busy one …
NEVADA — Alta prepares to mine Olinghouse and Griffon — Green Hill-Payback pit readied for startup
Henderson-based Alta Gold (ALTA-Q) has increased its land position around its Olinghouse property in northwestern Nevada by more than half.The company staked another 140 mining claims in an area north…
Ajo copper mine to undergo improvements
Phelps Dodge (PD-N) will reopen the Ajo copper mine in southwestern Arizona.The company plans to spend US$238 million to refurbish the former open-pit operation. Construction is scheduled to begin ear…
Phelps Dodge stays on course during quarter
Despite a slight downturn in copper prices, Phelps Dodge (PD-N) earned a profit in the first quarter.Income amounted to US$137.5 million (or $2.12 per share) on revenue of just over US$1 billion, comp…
LATIN AMERICA — Corner Bay arranges financing
A recent private placement is expected to provide gross proceeds of $8.7 million for Corner Bay Minerals (BAY-T), a junior company actively exploring for copper and gold in Canada, the southwestern U….
LATIN AMERICA — Piedras Verdes gets confidence boost
Favorable results from exploration in 1996 have prompted partners Azco Mining (AZC-T) and Phelps Dodge (PD-N) to initiate a US$4.8-million program at the Piedras Verdes copper project in Sonora state,…
MEXICO AND CENTRAL AMERICA — Francisco Gold takes aim at Mexico’s mineral potential
Francisco Gold (FGX-V) has discovered a potentially significant gold deposit at its Sauzal property in the Batopilas mining district in Mexico’s Chihuahua state.Highlights of a trenching program inclu…
Corner Bay drills San Martin play
Junior Corner Bay Minerals (BAY-T) is drill-testing the San Martin oxide copper project in Chihuahua state, Mexico. The 12-hole program will cover at least 2,000 metres in an attempt to follow up geol…
Companies (June 24, 1996)
Absolut Res.Alta GoldAmax GoldAmerican GemAMT Int’l M’gArizona StarArmistice Res.Ashanti GldfldsAshton MiningAtna ResourcesBarrick GoldBema GoldBHP MineralsBig Valley Res.Birim GoldfldsBorneo GoldBrea…
BASE METALS SPECIAL — Phelps Dodge to expand Candelaria
By 1998, Phelps Dodge (PD-N) expects to double copper production at the Candelaria mine in Chile.The company will invest US$338 million in a second semi-autogenous mill and an expanded concentrator.Th…
BASE METALS SPECIAL — AMT seeks to develop Arizona copper play
An agreement with copper giant BHP Minerals has AMT International Mining (AAI-T) moving ahead with development of a mining project in the heart of Arizona’s copper district.The junior can earn up to a…