Alcan closes Bracebridge plant
After 32 years, Alcan Aluminum has closed its cable-making plant in Bracebridge, Ont.Copper wire accounted for 70% of the plant’s output, and Alcan blames the closure on a continued slump in demand fo…
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Gold Funds (July 22, 2002)
Gold Funds as at July 11, 2002Dundee Precious MetalsCentral FundNet Value$23.48$5.91Price$17.45…
Correction (July 22, 2002)
The editorial in our July 15-21 issue was cut off without its last line. The last sentence should have read, “That means secure property rights and the enjoyment of income, resources or no resources.”
Base metals demand poised to improve
While the main global themes of collapsing equity markets and dollar weakness continue to dominate the headlines, it is perhaps not surprising that some positive developments in base metals raw materi…
Caledonia dusts off Barbrook gold mine
With the price of gold on the rise, Caledonia Mining (CAL-T) is re-evaluating the geology at its Barbrook mine in South Africa, hoping to resume production.Production was suspended in the summer of 19…
Aluminum smelter planned for Vancouver Island
A proposed 360,000-tonne-per-year aluminum smelter on Vancouver Island could be operating in 4.5 years.Alberni Aluminum, or Al2Co., will pursue regulatory approval for the $1.5-billion project in Port…
Pacific Minerals drill-tests 217 Gold project
Pacific Minerals (PMZ-V) will oversee a 5,000-metre program of diamond drilling on the 217 Gold project in Inner Mongolia.Crews will test the main Northeast Gold zone, which is 1,600 metres long and u…
Placer extends AurionGold offer (July 22, 2002)
For a second time, but now with a whiff of desperation, Placer Dome (PDG-T) has extended the closing date for its hostile, all-share offer for Australian-listed AurionGold. The new deadline is Aug. 7….
High River eyes more Russian gold
High River Gold Mines (HRG-T) has inked a deal to acquire the Berezitovoye project in the Amur region of southern Siberia, from a Russian company, Khaikta Ltd.Under the deal, High River will issue Kha…
Poor values and volatile prices Risk without wealth
Exit, pursued by a bear.ShakespeareA Winter’s Tale, III-3/57At the time of writing, the North American stock markets are plumbing new depths in the sustained selloff of stocks that began in March of 2…
‘Super’ flow-through shares update
COMMENTARY/PDACThe tax credits produced by “super” flow-through shares appear to have had a positive impact on the mineral exploration industry but still fall short of the expectations of the Prospect…
Alcan’s earnings down, revenues up (July 22, 2002)
Despite lower prices for its aluminum products, Alcan (AL-T) still managed to turn a respectable profit in the second quarter.For the period ended June 30, Alcan posted net income attributable to comm…