Lonmin makes offer for Ashanti Goldfields
Lonmin has come through with a merger offer for troubled Ashanti Goldfields (ASL-N), valuing the Ghanaian gold miner at US$820 million.The London-based platinum producer was offering 0.744 share for e…
Articles by Northern Miner Staff
Magadan pumps cash into mining operations — Production can’t keep pace with 1998 output
Regional officials in the prolific gold and silver region of Magadan, in northeastern Russia, have approved the financing of 11 upgrade and construction projects to the tune US$631.6 million.The news …
Companies (October 18, 1999)
Aber ResourcesAfrioreAnglo AmericanAnglogoldAntares Mining & ExplorationAsarcoAshanti GoldfieldsAshton Mining of CanadaAsia Pacific ResourcesAtna ResourcesBarrick GoldBattle Mountain GoldC…
Cyprus Amax divests stake in Kinross
Cyprus Amax (CYM-N), clearing the decks for its merger with Phelps Dodge (PD-N), has arranged to sell its 31% holding in gold producer Kinross Gold (K-T) for $356 million.The deal will see t…
LATIN AMERICA — Atacama to develop Aguas Blancas
Atacama Minerals (AAM-V) is proceeding with development of the Aguas Blancas iodine heap-leach project in northern Chile.The project comprises 22,000 ha in the Atacama Desert, 95 km southeast of the p…
METAL PRICES (October 18, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateOct. 12Oct. 11Oct. 8Oct. 7…
LATIN AMERICA — Apac hits gold at Los Menucos
Junior explorer Apac Minerals (APC-V) has hit broad low-grade gold mineralization at the Los Menucos property in southern Argentina.The company completed 45 reverse-circulation holes, totalling 4,000 …
LATIN AMERICA — North options property
Australia’s North Ltd. and Spokane, Wash.-based Metalline Mining (MMGG-O) have formed a joint venture to explore the Sierra Mojada zinc project in the northeastern Mexican state of Coahuila.North can …
LATIN AMERICA — Anglo’s Aripuana deal to go ahead
Following a due-diligence investigation, the Brazilian subsidiary of Anglo American (AAUK-Q) is going ahead with a joint-venture deal with Karmin Exploration (KARM-C) on the Aripuana property in north…
Ivanhoe’s S&K mine set to expand
Ivanhoe Mines (IVN-T) will proceed with a 40% expansion of its half-owned S&K copper mine in central Myanmar.The US$7-million expansion, to be funded by cash flow, will see annual production capacity …
LATIN AMERICA — Rio Tinto to resume work on Taca-Taca
Junior explorer Corriente Resources (CTQ-T) has signed an option agreement allowing London-based Rio Tinto (RTP-N) to drill the Salar Arizaro area of the Taca-Taca copper-gold project in Argentina.The…
LATIN AMERICA — Glamis green-lights San Martin project in Honduras — Open-pit mine expected to crank out 80,000 oz. per year
In less than a year, San Martin in southern Honduras has graduated from the exploration stage to approved-mine status with a 1.5-million-oz. gold resource.Glamis Gold (GLG-T) is currently developing t…