Alcan bid approved
The European Commission has given the green light to Alcan’s (AL-T) 4-billion-euro takeover of French rival Pechiney (PY-N), but not without some strings attached.In its investigation of the proposed …
News
Gold Fields, Anglo ink deal
Vancouver — South African-based rivals Gold Fields (GFI-N) and AngloGold (au-n) have elected to team up in the country’s Driefontein mining area.AngloGold will buy a portion of Gold Fields’ Block 1C1…
Anglo bets on zinc
During the report period ended Sept. 30, Anglo American completed its purchase from Toronto-listed junior Ivernia West of the 50% interest it didn’t already own in the underground Lisheen zinc mine in…
Inco deals debentures
Taking advantage of low interest rates, Inco (N-T) intends to offer US$300 million worth of debentures in order to retire existing notes.Net proceeds, expected to top $297 million, are earmarked for t…
Resource-sector deals drive junior exchange
Vancouver — Canada’s junior exchange finished the week ended Sept. 30 with a modest gain, compared with previous weeks. The S&P-TSX Venture Exchange composite index finished the period up 3.53 points…
LME Warehouse Levels (October 06, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Sept. 29 (change from Sept. 23 in brackets):MetalStock(tonnes)ChangeAluminium1,370,875…
Northern Miner Indices (October 06, 2003)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrick GoldABX-T19.4%CamecoCCO-T3.6%FalconbridgeFL-T4.7%Freeport McM BFCX-N7.1%GoldcorpG-T4.4%IncoN-T7.8%Kinross GoldK-T4.3%Newmont Minin…
Desert Sun sees open-pit potential at Morro do Vento
Desert Sun Mining (DSM-T) says results from drilling at its Jacobina property in Bahia state, Brazil, indicate that a low-grade resource could be built up at the Morro do Vento gold prospect.Results f…
Corrections (October 06, 2003)
In our Sept. 29-Oct. 5 issue, we incorrectly reported that Wolfden Resources (WLF-T) had paid $6.5 million to Blackstone Ventures (BLV-V) to earn a 70% interest in two mining claims adjacent to Wolfde…
Feds to study diamond sector
Indian and Northern Affairs Canada (INAC), a department of the Ministry of Indian Affairs and Northern Development, is about to undertake what it hopes will be an authoritative study of Canada’s burge…
Producer and Dealer Prices (October 06, 2003)
Antimony: Mid-mkt US$2,250/t.Bismuth: Mid-mkt US$3.05/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$9.80-12.00/lb.Copper: Comex Dec. US$0.8240/lb.Indium: Indium Corp., ingot, US$180/k…
Newmont eyes Ghana for growth
Vancouver — Denver-based Newmont Mining (NEM-N) expects production to rise by 5.5% this year, reaching 7.2-7.4 million oz. (Thereafter, from 2004 to 2006, yearly output will settle down to 7 million …