Corriente tables new resources (July 02, 2001)
Vancouver — The Panantza and San Carlos copper projects in Ecuador could potentially produce a combined 50,000 tonnes per day and generate a 6.7% internal rate of return, according to a preliminary s…
News
Quake disrupts copper mine in Peru
Denver — Southern Peru Copper (PCU-N) has shut down operations at the Toquepala copper mine after an 8.1-magnitude earthquake shook the country in late June.Operations resumed days later, with no inj…
Metal Prices (July 02, 2001)
DateJune 26June 25June 22June 21June 20BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)…
BHP acquires Dia Met, boosts stake in Ekati
Having acquired 98.2% of Dia Met Minerals’ (DMM-T) Class A subordinate voting shares and 84.9% of its Class B multiple voting, Australia’s BHP (BHP-N) has further extended its $687-million takeover of…
Spot Prices Wed. June 27, 2001Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$276.00+$3.60Silver$ 4.35-$0.05…
Teck settles tax dispute
Teck has settled a dispute with the Canadian income tax authorities.The company deposited $75 million with the Canada Customs and Revenue Agency against a possible income tax reassessment. In light of…
Barrick-Homestake merger shakes gold market
Spicing up an otherwise bland week, Barrick Gold, on June 25, announced its intention to purchase American rival Homestake Mining in a paper deal worth US$2.3 billion.The all-share, friendly offer cau…
Victoria Island search resumes
Diamond-explorer Major General Resources (MGJ-V) has begun ground geophysical surveys of 20 airborne magnetic anomalies on Victoria Island in Nunavut, in preparation for drilling.The anomalies were de…
Union workers halt zinc smelter in Peru (July 02, 2001)
Denver — Production of refined zinc at the Cajamarquilla smelter near Lima, Peru, has ceased after 350 unionized workers walked off the job.The union and Cominco (CLT-T), which owns 82% of the plant,…
CanTung mine set to reopen doors
Vancouver — Armed with $6.5 million in financing, North American Tungsten (NTC-C) plans to restart its wholly owned CanTung mine, in the Northwest Territories, by year-end.The company recently entere…
RJK posts gains during mixed week
WESTERN MARKETThe Canadian Venture Exchange finished the period ended June 26 down 44.97 points at 3,230.93, off 1.4%. The mining index went the other way, gaining 68.31 points, or 0.9%, to close at 7…
Barrick, Homestake propose marriage
In a paper deal worth US$2.3 billion, Barrick Gold () has agreed to take over Homestake Mining (HM-N) and thereby become the world’s second-largest gold producer.Barrick is offering 0.53 of a share fo…