Pan American throws in towel at Dukat
The cat-and-mouse game involving the large Dukat silver deposit in Far Eastern Russia is finally over. Russian-based Polymetal will acquire an 80% interest in the project and assume operatorship, leav…
News
Soaring diamond sales ensure De Beers’ profitability
Fueled by strong global demand, De Beers Consolidated Mines (DBRSY-Q) tripled its earnings in the first half of 2000 on the back of US$3.52 billion in diamond sales, which were 44% higher than in the …
Ekati mine a shining symbol of Canada’s diamond potential
Ekati, Canada’s first and only diamond mine, is the largest supplier of rough diamonds to the global market by value outside of De Beers. As other projects such as Diavik, Snap Lake and Jericho come o…
F.P.O. Is a new diamond market emerging?
Recent developments in the diamond industry are hinting that the diamond market may have seen the last of single-channel supply.The shape of the new market may have broken the surface in July when De …
Miner toys with retirement
Some men never grow up, and retired miners are no exception. They grow older, their hair recedes, and bellies often hang over their belts, but inside these men is a playfulness that never goes away.Th…
GREATEST VALUE TRADED, Sept. 13-19
ExchgVal($000s)HighLowCloseChangeAlcoa*N 606577 30.44 25.31 25.62 – 4.57…
Kelsey Lake resumes production
McKenzie Bay International (MKBY-O) has resumed diamond production at the Kelsey Lake mine, a past producer straddling the border between Colorado and Wyoming.The company recently completed final adju…
Hecla Mining tightens belt
In an effort to conserve cash, Hecla Mining (HL-N) has deferred payment of its quarterly dividend to holders of its Series B convertible preferred stock.It is the first time the company has skipped a …
Northgate cuts costs at Kemess
Debt-burdened Northgate Exploration (NGX-T) is trying to accomplish something Peggy Witte’s Royal Oak Mines couldn’t do — turn the Kemess mine, 300 km northwest of Mackenzie, B.C., into an economical…
De Beers bid for Ashton Mining viewed as harbinger of change
While De Beers Consolidated Mines’ (DBRSY-Q) successful $5-per-share bid for Winspear Diamonds signalled a desperate wish to secure Canadian diamond production, its bid for Australia’s Ashton Mining s…
Minera Andes signs deal
A Peruvian mining company has set its sights on a silver-gold property held by Minera Andes (MAI-V) in Santa Cruz province of southern Argentina.Lima-based Mauricio Hochschild & Compania recently sign…
Quebec prospectors gather for rendez-vous
“Perseverance” may well have been the unofficial theme of this year’s joint convention of the Quebec Prospectors Association (APQ) and the Quebec Association of Professional Geologists and Geophysicis…