MIM shareholders give Xstrata offer the nod
Shareholders of Australian-based M.I.M. Holdings have approved a A$4.9-billion cash-and-debt takeover offer by Anglo-Swiss rival Xstrata.The world’s fourth-largest coal exporter received the support o…
News
Glamis breaks ground at El Sauzal in Mexico
Full-scale construction is under way at Glamis Gold’s (GLG-T) El Sauzal project in Mexico’s Chihuahua state.The change-of-land-use permit authorizing construction and operation of El Sauzal followed t…
Producer and Dealer Prices (June 16, 2003)
Antimony: Mid-mkt US$2,570/t.Bismuth: Mid-mkt US$2.90/lb.Cadmium: Mid-mkt US$0.70/lb.Cobalt: Recent trades US$9.70-10.25/lb.Copper: Comex July US$0.770/lb.Indium: Indium Corp., ingot, US$140/kg.Iridiu…
Golds survive rocky week
Despite gold prices tumbling more than US$10 per oz. over the period, the U.S.-listed gold miners managed to hang on and end the week in positive territory.Among the gold majors: Newmont Mining jumped…
Exchange Rates (June 16, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJune 10June 9June 6June 5June 4US$ in C$1.36481.35841.35401.3401…
Strikes take their toll on Canadian miners
A flurry of strikes around the world created havoc in the mining industry for the 1-week period ended June 10.Inco said a strike launched June 1 by 3,300 members of the United Steelworkers of America …
Minefinders pushes Dolores to feasibility
Vancouver — Drilling along the 2.2-km-long main Dolores zone has enhanced the economic prospects of the large gold system in Mexico’s Chihuahua state.Minefinders (MFL-T) has sunk an additional 40,500…
Luismin powers Wheaton to record Q1
Benefiting from higher gold prices, Wheaton River Minerals (WRM-T) saw its first-quarter earnings soar to US$4.1 million.The earnings totalled 2 per share, compared a year-earlier profit of just US$2…
Gammon scores at Northeast Ocampo (June 16, 2003)
Gammon Lake Resources (GAM-T) has reported a new gold resource at its wholly owned Northeast Ocampo project in Mexico’s Chihuahua state.The new resource, audited by Pincock Allen & Holt, consists of u…
Partners test McCreedy’s PM zone (June 16, 2003)
Underground drilling by partners FNX Mining (FNX-T) and Dynatec (DY-T) at the McCreedy West mine in Sudbury, Ont., continues to return high-grade values of copper, platinum, palladium and gold.The lat…
Pound foolishness
A British Broadcasting Corporation report in mid-May said the country’s chancellor of the exchequer, Gordon Brown, had decided the United Kingdom was “not ready” to accept the euro as its national cur…
Drill turns at Alto Rico (June 16, 2003)
Vancouver — Tenke Mining (TNK-T) has launched a 1,300-metre drill program over the promising Alto Rico gold project in Argentina’s Patagonia region.The 7-hole program will test a 2-by-3-km coincident…