Campbell boosts interest

Partners of Campbell Resources (CCH-T) in the Copper Rand project in north-central Quebec have agreed to turn their minority interest into shares of Campbell.

SGF Mines, owner of Quebec government mining enterprise Soquem, the Quebec Federation of Labour’s Solidarity Fund, and the Socit de Developpement de la Baie-James will trade the remaining 8% interest they hold in Copper Rand for 5.9 million shares.

Copper Rand recently shipped its first concentrate from development ore, after being shut down since October 1997. Commercial production is to start early in 2005.

In June 2003, the three partners turned a half-interest in Copper Rand into 15 million shares of Campbell, which gave them about a 25% holding in the company.