Canada overtakes South Africa in diamond value
With two diamond mines already established and three projects at the permitting stages, Canada will surpass South Africa this year in terms of diamond production value and move into third place, behin…
News
Meridian profits from El Peon
Reno-based Meridian Gold (MNG-T) made a net profit of US$36.8 million in 2003, reflecting the stellar operating performance of the El Peon mine, 160 km southeast of Antofagasta in Chile.The high-grad…
Editorial Cartoon (March 22, 2004)
Mexgold closes deal for El Cubo
Using the proceeds from a $45-million private placement, Mexgold Resources (MGR-V) has acquired the El Cubo gold-silver mine in Mexico’s Guanajuato state.The Nova Scotia-based company paid US$13.5 mil…
Gulf International axes non-compete payments
Gulf International Minerals (GIM-T) has decided not to make any post-termination payments to recently ousted president and CEO Alastair Ralston-Saul.Earlier this year, the company agreed to pay Ralsto…
Cameco’s Boroo on-stream
Cameco’s (CCO-T) 53.2%-owned Boroo gold mine, 110 km northwest of Ulaanbaatar in Mongolia, has started commercial production.The open-pit operation is owned and operated by Boroo Gold, an indirect sub…
Alaska mining on the rise
Rising metal prices sparked the Alaska mining industry last year, according to the Geological Survey of Alaska.The total value of mineral exploration, development, and production is expected to hit US…
Eldorado writes down Sao Bento
Vancouver-based Eldorado Gold (ELD-T) posted a net loss of US$45 million for 2003, largely because of a US$39.5-million writedown of the value of the Sao Bento gold mine in Brazil. By comparison, the …
Indonesia says mining will continue in protected forests
The Indonesian government will allow 13 mining companies to continue operations despite violations of the country’s forestry law.The move provides a boost to the mining industry after a controversial …
Producer and Dealer Prices (March 22, 2004)
Antimony: Mid-mkt US$2,915/t.Bismuth: Mid-mkt US$3.15/lb.Cadmium: Mid-mkt US$0.55/lb.Cobalt: Recent trades US$24-28.50/lb.Copper: Comex May US$1.366/lb.Indium: Indium Corp., ingot, US$485/kg.
NAP nearly doubles production (March 22, 2004)
With the new primary crusher at its Lac des les mine, near Thunder Bay, Ont., fully operational, North American Palladium (PDL-T) enjoyed a profitable fourth quarter.During the three months ended Dec…
StrataGold to drill Hyland
A $700,000 drilling program is planned for the “Carlin-type” gold project known as Hyland, 70 km northeast of Watson Lake, Y.T.Owner StrataGold (SGV-V) will perform the drillling, which is to be funde…