Ashanti restructures debt as operations improve
Ghanaian gold miner Ashanti Goldfields (AHD.U-T) took another step out of the wilderness as a committee of its lenders agreed to a scheme to turn US$219 million of debt maturing in March into shares a…
News
Canada to overtake South Africa in diamond value
Within the next few years, as the Diavik and Snap Lake diamond projects come on-stream and join the already producing Ekati diamond mine, Canada will account for 10-15% of the world’s annual diamond p…
News – 04-FEB-02
Bell Allard workers ratify 3-year agreement
Workers at Noranda’s Bell Allard zinc mine in Matagami, Que., have voted 80% in favour of a 3-year collective agreement. The previous contract expired in November 2001.The new agreement includes a wag…
Solitario cuts PGM mineralization at Pedra Branca in Brazil
Vancouver — Solitario Resources (SLR-T) has intersected additional platinum-palladium mineralization on two prospects at its Pedra Branca project in Brazil.Significant mineralization was intersected …
CDNX keeps the faith
Vancouver — Canada’s junior exchange fared better than the major bourses, closing the period Jan. 23-29 in the black. The Standard & Poor’s-CDNX composite index tacked on 17.41 points, or 1.5%, to fi…
MOST ACTIVE ISSUES, JANUARY 23-29
ExchgVol(000s)HighLowCloseChangeAlcoa*N1800236.4434.6034.76+0.81…
Pan American Silver boosts output
Vancouver — Pan American Silver (PAA-T) increased its production levels in 2001 as a result of opening two mines in Latin America.The company now has a total of three operations in Peru and Mexico, a…
Phelps Dodge bleeds red
The world’s second-biggest copper producer, U.S.-based Phelps Dodge, was the newsmaker of the week as it posted a US$275-million loss in 2001 on revenue of US$4 billion, compared with US$29 million ea…
GREATEST VALUE TRADED, JANUARY 23-29
ExchgVal($000s)HighLowCloseChangeAlcoa*N62575336.4434.6034.76+0.81…
Higher spending in Quebec
Total exploration and appraisal spending in Quebec in 2001 increased by 15% to reach $119 million in 2001 (this includes $73.7 million in off-minesite spending and $45.2 million in minesite spending),…
Meadowbank’s economics get rosier
With estimated resources up about 50% over those reported in an April 2000 prefeasibility study, Cumberland Resources (CBD-T) is understandably bullish about its Meadowbank gold project, 70 km north o…