Anglo, Pangea outline resource at Kahama
The Lake Victoria greenstone belts continue to reward exploration efforts, most recently at the Kahama property of Pangea Goldfields (TSE), under option to Anglo American.A reverse-circulation program…
News
ODDS’N’SODS — Tipped off
George “Gus” McManus was responsible for staking many of the gold deposits in the Red Lake area of Ontario during the early years of mining development in that district.McManus was prospecting for sil…
ANNUAL REPORT REVIEW — B.C. mining profitable but exploration waning
Although British Columbia’s mining industry reported its second consecutive year of profitablity in 1995, the future health of the industry remains in doubt.In its annual report titled The Mining Indu…
METAL PRICES — FREE MARKET (May 27, 1996)
London Metal Exchange.Spot closing prices in $US per tonne.DateMay 21 May 20May 17 May 16 May 15.Copper2510-2515 2472-24772570-25752740-27452750-2755.Lead835-836 831-832841-843 852-853 845.5-…
PEOPLE — CROSS LAKE (May 27, 1996)
James Tutton appointed president; Henry Ewanchuk, Chet Idziszek and Brian Kynoch appointed directors.
PEOPLE — BREN-MAR RES.
A. Beaton appointed officer and vice-president of mining; Hans Schwabl and Bruce Purcell appointed directors.
Spot prices at a glance (May 27, 1996)
Wednesday, May 22, 1996Week’s Price (US)ChangeGold*$391.00-$0.85.Silver*$ 5.29-$0.11.Platinum*$397.25-$5.00.Nickel**$ 3.51-$0.13.Lead**$ 0.380.00.Copper$ 1.11-$0.13.Zinc$ 0.4…
EDITORIAL PAGE — WMI: A progress report
“A perfect agreement meant for a perfect world” is how one Canadian mining executive described the Whitehorse Mining Initiative (WMI) after it was signed in 1994.The agreement defined a vision of a so…
Coal, trona output on rise in Wyoming
Wyoming’s production of coal and trona increased in 1995, according to figures released by the state’s geological survey. Trona, or soda ash, is a widely used industrial chemical. Trona increased to 1…
Asarco sells its stake in MIM
In an attempt to reduce its debt, Asarco (NYSE) has sold its 15% stake in Australian-based MIM Holdings.The sale generated US$331.2 million, which will result in an after-tax gain of US$39 million (or…
Royal Oak foresees growth after startup of Kemess
Toronto-listed Royal Oak Mines expects its annual gold-equivalent production to escalate to 1.2 million oz. by 2001, up from 371,000 oz. in 1995.The dramatic increase reflects the proposed Kemess gold…
Holmer Gold boosts exploration budget
The exploration budget for a portfolio of properties that stretches from Ontario to Cuba has been increased to $2 million, reports Holmer Gold Mines (ASE).Work is under way on Holmer’s gold property i…