Harmony’s Bissett under gun to cut costs
It’s crunch time for the Bissett underground gold mine in Manitoba as the South African-based owner appears to be running out of patience.Although it accounted for just 2% of Harmony Gold Mining’s (HG…
Articles by Northern Miner Staff
Consortium offers US$17.6 billion for De Beers
The independent directors of De Beers Consolidated Mines (DBRSY-Q) have described as “fair and reasonable” a takeover offer by DB Investment (DBI), a consortium comprising the Oppenheimer family-run C…
Cameco hit by weak uranium prices
Sagging spot prices for uranium eroded Cameco’s (CCO-T) bottom line in 2000.For the year, Cameco’s suffered a net loss, after special items, of $87 million (or $1.57 per share) on revenue of $689 mill…
Energy costs hurt American mining
Denver — The collective effort of mining companies to cut costs and improve profits is being jeopardized by high power costs, particularly in the western U.S., where an emerging energy crisis is send…
Gold weighs on miners
Denver — The Dow Jones industrial average slumped 54.1 points, or 0.5%, to close at 10,903.32 for the report period ended Feb. 13, as Comex gold, on the New York Mercantile Exchange, slid to US$260.3…
More high grades at Tulawaka
Drilling on the Tulawaka property in northern Tanzania has revealed more high-grade results for partners Barrick Gold (ABX-T) and Minires du Nord (MDN-T).The companies are focusing on the East zone, …
Base metals survive sinking composite index
The Toronto Stock Exchange performed dismally during the report period Feb. 7-13, with the TSE 300 composite index sliding 359.27 points in five trading days and finishing at 8,942.13. The banks and t…
Homestake posts record gold output
Denver — With gold production up, Homestake Mining (HM-N) has reported its lowest cash costs in more than two decades.Fourth-quarter production hit a record 589,100 oz. gold, up 9% from the correspon…
Low prices frustrate Sunshine
Denver — The U.S. government has approved a newly amended plan of reorganization for Sunshine Mining & Refining (SSCF-O), though, with silver prices well below US$5 per oz., the company may have nowh…
Coeur sheds Aussie subsidiary
Denver — Idaho-based Coeur d’Alene Mines (CDE-N) has pocketed US$15.6 million by selling its half-interest in Gasgoyne Gold Mines to Sons of Gwalia. Both Gasgoyne and Gwalia are based in Australia.Th…
Minnesota deserves more credit
Add my name to the list of those who are perplexed and frustrated by the Fraser Institute’s recent survey of the geological and investment potential of various states, provinces and countries. In the …
McWatters suspends mining
McWatters Mining (MCW-T) has suspended all mining at its Sigma-Lamaque open-pit gold mine in Val d’Or, Que., and will review the viability of continuing operations at its nearby Kiena underground gold…