First Quantum raises funds (December 16, 2002)
First Quantum Minerals (FM-T) will issue 5.5 million special warrants to raise nearly $18 million in an attempt to finance work at its assets in Zambia.The warrants are fixed at $3.25 apiece and entit…
News
Kyoto won’t hurt mining
Canada’s mining industry has been a constructive contributor to our shared search for solutions to environmental challenges.In addition to representing the economic interests of your sectors, you [in …
Turning preservationism on its head Breaking the frame
Parked, they call it.Ontario prospectors have been living with the consequences of the province’s Living Legacy policy for nearly four years now. Living Legacy, the outgrowth of the divisive and destr…
Opawica tests Straw Lake
Opawica Explorations (OPW-T) has raised sufficient funds to begin a preliminary exploration program at the Straw Lake gold property in northwestern Ontario.Opawica can earn 100% interests in five clai…
Pasminco eyes mine closures
Vancouver — Having failed to sell its Gordonsville and Clinch Valley lead-zinc mines, Australian-based Pasminco is closing both.Situated in Tennessee, the mines are low-grade operations that have not…
NovaGold beefs up Donlin Creek
Vancouver — An updated resource estimate for the Donlin Creek gold deposit in Alaska has added 4 million oz., most of which are in the Akivik, 400 and Aurora target areas.The new estimate shows nearl…
Slow progress at Noranda’s magnesium plant
Already well behind schedule, Noranda has again postponed startup at its Magnola magnesium plant, near Asbestos in Quebec’s Eastern townships.Commercial production is now expected to commence in the f…
Inco reviews Goro development
Facing sudden and significant cost overruns, Inco (N-T) will be reviewing its Goro nickel laterite project in the French Pacific territory of New Caledonia.The company is beginning a 6-month engineeri…
Miramar sets sights on Boston Deeps (December 16, 2002)
Vancouver — The largest drill program planned for Canada in 2003 may have got 9,000 metres bigger, now that Miramar Mining (MAE-T) intends to test the depth potential of the Boston deposit at the Hop…
GoldOre nabs La Plata (December 16, 2002)
Vancouver-based GoldOre Resources (GOZ-V) has purchased the La Plata copper property, near Durango, Colo., in exchange for shares and the assumption of US$35,000 of debt.La Plata overlies a porphyry s…
Northern Miner Indices (December 16, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T21.9%FalconbridgeFL-T4.2%Freeport BFCX.B-N5.0%GoldcorpG-T5.2%IncoN-T7.7%Meridian GoldMNG-T4.7%Newmont MiningNEM-N24.8%Noranda…
Southwestern drills Boka
The recovery of multi-ounce grades from adits has prompted Southwestern Resources (SWG-T) to launch a drill program at the Boka gold project in China’s Yunnan province.The 2,000-metre program will try…