Freeport issues Q2 warning
Heavy rainfall at its Grasberg mine in Irian Jaya, Indonesia, combined with delays in reaching higher-grade ore, has forced Freeport McMoRan Copper & Gold (FCX-N) to lower its forecast production and …
News
Northern Miner Indices (July 08, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T23.2%CamecoCCO-T3.2%FalconbridgeFL-T5.2%Freeport BFCX.B-N5.8%GoldcorpG-T4.2%IncoN-T9.2%Meridian GoldMNG-T2.8%Newmont MiningNE…
Daily Metal Prices (July 08, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 2July 1June 28June 27June 26Aluminium1362/1383…
High River boosts Taparko stake (July 08, 2002)
High River Gold Mines (HRG-T) has exercised its option and picked up an additional 18.5% interest in the advanced Taparko project in Burkina Faso, West Africa, from Queenstake Resources (QRL-T).In ret…
Latest corporate downfall ignites investor revolt
As pessimism in multinational conglomerates stretched across the Atlantic, the Toronto Stock Exchange S&P/TSX plunged 107.41 points over the holiday-shortened June 26-July 2 report period, ending the …
Kudos for Internet project
The Ontario government’s Internet-based CLAIMaps system, which provides worldwide access to mineral exploration information in the province, has earned it an award.The province took home an “Explorer”…
Cameco settles pension lawsuit
Cameco, the world’s largest supplier of uranium, has settled a lawsuit with representatives of the Eldorado/Cameco pension plan.The lawsuit originally claimed proceeds in excess of $60 million but was…
TSX Venture exchange slumps with gold
Vancouver — Canada’s junior exchange followed the gold price down over the holiday-shortened week ended July 2. The Standard & Poor’s-TSX Venture composite index lost 32.45 points, or 2.7%, to close …
Mine owner flees after explosion
The state-run New China News Agency reports that a Chinese mine owner is on the run after an investigation into an explosion at a gold mine in Shanxi province led to the discovery of 35 bodies.It was …
Diamonds North targets Victoria Island (July 08, 2002)
Hoping to capitalize on a revitalized diamond exploration sector that has been fueled by recent kimberlite discoveries in Quebec and the Coronation district of Nunavut, Major General Resources has spu…
Roughing it (with apologies to Mark Twain)
As reviewed in the first article in this series, “Making the Grade: Diamonds Take Forever” (T.N.M., June 17/02), once a favourable bedrock (lode) or surficial (placer) site has been located, the proce…
Correction (July 08, 2002)
Our Venture Exchange market report of June 17 referred to American Bonanza Gold Mining (BZA-V) as “cash-strapped.”Shortly before that issue went to press, the company had completed a public offering o…