Base metals: upside despite macro gloom
The following is the second in a series devoted to metals markets and was culled from Barclays Capital’s monthly report The Commodity Refiner. This week’s instalment provides an overview of base metal…
News
Great Basin drills Burnstone (February 10, 2003)
Vancouver — Great Basin Gold (GBG-V) has launched a 5-rig, 20,000-metre diamond drilling program over its newly acquired Burnstone property, 100 km southeast of Johannesburg, South Africa.The project…
Barrick counter-sues Blanchard
Barrick Gold (ABX-T) has served a formal libel notice on Blanchard & Co. and its CEO, Donald Doyle, Jr., and is seeking “substantial damages and other relief.”Based in New Orleans, Blanchard describes…
People (February 10, 2003)
Alcoa — William Christopher appointed executive VP and group president for Alcoa Aerospace, Automotive and Commercial Transportation; Paul Thomas appointed VP of Alcoa and president of North American…
Philex disappoints
Vancouver — Drill results from Philex Gold’s (PGI-V) Boyongan deposit in the Philippines have prompted operator Anglo American (AAUK-Q) to seek additional tonnage on the surrounding North property.Al…
Goldcorp buys into American Bonanza
Vancouver — High-grade miner Goldcorp (G-T) has taken a 10.4% stake in the junior explorer that holds the Copperstone project in southwestern Arizona.That company, American Bonanza Gold Mining (BZA-V…
Aquiline buys Calcatreu project
Aquiline Resources (AQI-V) is acquiring Newmont Mining’s (NEM-N) Calcatreu gold project in Argentina.In return it must pay more than US$2 million over three years, with US$100,000 due on the deal’s cl…
NovaGold eyes more gold at Donlin (February 10, 2003)
NovaGold Resources (NRI-T) expects the final round of 2002 drilling on the Donlin Creek project in Alaska to expand current resources and boost five high-grade zones to the status of measured and indi…
Higher output from Diamond Fields
The recovery of 4,700 carats of gem-quality diamonds from the Marshall Fork deposit has prompted Diamond Fields International (DFI-T) to add a second mining vessel to its Luderitz Blue Bay grant off t…
Melville yields diamonds for Northern Empire, Stornoway
Vancouver — The cloak of secrecy under which Northern Empire Minerals (NEM-V) and Stornoway Ventures (SWV-V) acquired more than 5,200 sq. km in Nunavut has proved efficacious: the partners have disco…
Ontario spends $10m on mine rehab
The Ontario government will spend $10 million this year on a program designed to rehabilitate abandoned mines.The work is being carried out under the $27-million Abandoned Mines Rehabilitation Program…
Gold demand slows in India, Pakistan
Consumer demand for gold in India was 8% lower in the third quarter of 2002 than a year earlier. However, the decrease was less severe than the 44% drop between the first half of 2002 and the first ha…