De Beers homes in on diamond retail market
Diamond kingpin De Beers Consolidated Mines (DBRSY-Q) is teaming up with France’s LVMH Moet Hennessy Louis Vuitton to form an independently managed company that will develop and sell De Beers’ branded…
Articles by Northern Miner Staff
Phelps Dodge warns of production cuts
Denver — Phelps Dodge (PD-N) has alerted employees at operations in Arizona and New Mexico to the possibility of shutdowns caused by higher energy costs in California.Electricity costs hit US11 per …
News – 05-FEB-01
Analyst views Corner Bay as ‘silver lining in cloudy sector’
Just before leaving his post as mining analyst for Deutsche Bank, George Albino gave a thumbs-up to Corner Bay Minerals (BAY-T) for its steady progress at the Alamo Dorado silver project in Mexico’s S…
Minefinders tops up treasury
Vancouver-based Minefinders (MFL-T) has closed a $1.5-million private placement of 1.6 million units priced at $1 apiece.Each unit comprises one share and one non-transferable warrant allowing the hol…
Rio Tinto posts strong quarter
Denver — The fourth quarter of 2000 was highlighted by a 40% increase in iron ore production and a 24% rise in aluminum production for Rio Tinto (RTP-N).The increase is attributed to the company’s ac…
Hirshhorn’s quest for wealth
At about five feet, three inches, Joseph Hirshhorn (1899-1981) did not tower over anyone. But as a mining financier and art collector, he was head-and-shoulders above most.Born in Latvia in 1899, Hirs…
Piecing together the future of coal mining
High-school students in Australia are using Lego building blocks to design tomorrow’s coal mining machines.Forty students from grades 10 and 11 gathered at the St. Lucia campus of the University of Qu…
Northern Miner Indices (February 05, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T20.7ComincoCLT-T4.5FalconbridgeFL-T6.3Franco-Nevada MiningFN-T5.8Freeport McMoRan Cop’r BFCX-N4.0Homestake MiningHM-N3….
Rio Tinto OKs Northparkes
Denver — London-based Rio Tinto (RTP-N) has approved development of the Lift 2 project at the Northparkes copper-gold mine in New South Wales, Australia.Construction of the A$139-million project will…
Grasberg mine a star performer for Freeport-McMoRan
Denver — Higher grades and better recovery rates at the giant Grasberg operation in Irian Jaya, Indonesia, resulted in a record- setting fourth quarter for Freeport-McMoRan Copper & Gold (FCX-N).Copp…
Plus a change, . . . Chaos in the Congo
The Democratic Republic of Congo (DRC), formerly Zaire, is aptly described as one of the most chaotic and corrupt nations in Africa. It was that way when rebel leader Laurent Kabila seized control fro…