Swiss aid for Noril’sk
Russia’s Noril’sk Kombinat has secured a US$55-million loan from a Swiss-based bank to improve its operations.The first installment of the loan, which was provided by Union Bank of Switzerland, is US$…
News
TSE Short Positions (December 22, 1997)
Short position outstanding at November 30, 1997Larger individual positions include: Athabaska Gold 125,000, up 125,000; Barrick Gold 11,179,390, down 551,576; Campbell Resources 4,168,578; Echo Bay 85…
Phosphate producers to expand in South America
A joint subsidiary of Luxembourg-based Minorco and British-based Albright & Wilson has signed a deal to supply phosphate to several South American countries.The company will be owned equally by the pa…
Altavista raises funds for Santa Anna drilling
Altavista Mines (AIA-M) has raised a total of $829,000 to finance the latest phase of drilling at its Santa Anna gold project in northwestern Quebec.Altavista closed on an initial $429,000 of a $650,0…
Miner reps to speak at CIM student night
The Bre-X Minerals fraud will be the topic of discussion at a special meeting of the Canadian Institute of Mining, Metallurgy and Petroleum, to be held Jan. 15 at Toronto’s Ontario Club.The discussion…
Armada secures funds for Erdmin project
Armada Gold (AAU-T) has secured financing to continue its expansion of the Erdmin copper plant in Mongolia.The second phase of the expansion is designed to boost daily copper output to 60 from 10 tonn…
Sulliden hits more copper-gold in Peru
Sulliden Exploration (SUE-M) has intersected additional porphyry copper-gold mineralization at its Peruvian project known as Las Huaquillas.In the San Antonio zone, diamond drill hole 17 intersected 1…
DIAMOND PAGE — Redaurum to dispose of mining assets
Toronto-based Redaurum (RRK-T) is leaving the diamond mining business.The company says it has decided to sell its interest in all three of its producing diamond mines because “the full value of curren…
SPOT PRICES (December 22, 1997)
Wednesday, December 17, 1997Price (US)Week’s ChangeGold*$286.10+ $1.05Silver*$ 6.0…
LME WAREHOUSE LEVELS (December 22, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Dec.16/97 (change from previous week in brackets):MetalStock (tonnes)Change…
Drilling to resume at Poracota
Southwestern Gold (SWG-T) and partner Teck (TEK-T) are poised to begin the third phase of drilling at their Poracota gold property in southern Peru.The property is part of the Cotahuasi joint venture….
Voisey’s Bay EIS submitted to government
Inco (N-T) subsidiary Voisey’s Bay Nickel has submitted its environmental impact statement (EIS) for the Voisey’s Bay mine in Labrador.The company expects the environmental review and approval process…