DIAND assists NWT in training miners
The Northwest Territories will receive $212,500 from the federal Department of Indian and Northern Development to train miners.A portion of the funds will be used to set up an apprenticeship program f…
News
Fraud scheme lands metal traders in jail
The U.S. Attorney for the southern district of New York state and the Federal Bureau of Investigation have arrested four base metals traders on charges of running an alleged global fraud scheme that c…
Fukuda to leave WGC
Haruko Fukuda, chief executive of the World Gold Council, will leave the London-based organization in late June.Fukuda assumed the post in 1999, just as the British government announced it would sell …
Metals markets stay focused on fundamentals
There has been a clear split in metals price movements during the report period May 6-10 as copper and nickel held on to higher levels, while aluminum and zinc fell sharply. This is evidence of a grea…
Low copper prices dent Codelco’s bottom line (May 20, 2002)
Vancouver — Low prices caused the world’s largest copper producer, Corporacion Nacional del Cobre de Chile (Codelco), to suffer a 37% plunge in profits in the first quarter.The company, wholly owned …
Rhonda perseveres at Coronation Gulf
Rhonda (RDM-V) is encouraged by results from glacial till sampling at the Inulik property in the north Slave Craton region of Nunavut.Two samples, 1.4 km apart, returned kimberlite indicator mineral c…
Kemess heads to mediation
About 300 unionized production and maintenance workers at Northgate Exploration’s (NGX-T) Kemess South gold-copper mine in British Columbia have rejected a recently negotiated 3-year collective agreem…
Yatela boosts Iamgold’s earnings
With the Yatela mine in western Mali three months into its first full year of commercial production, Iamgold (IMG-T) has posted solid first-quarter earnings.The company earned US$4.5 million (or 6 pe…
Newmont starts year with loss
Fresh from acquiring Franco Nevada Mining and Normandy Mining, Newmont Mining ended the May 9-14 period down $1.17 to US$28.05 as the world’s number-one gold producer posted a first-quarter net loss o…
Archon hits snags while drilling in Lac de Gras
Drilling by Archon Minerals (ACS-V) in the Lac de Gras area of the Northwest Territories has been halted following the testing of only one target.Archon had set about testing some 22 geophysical pipe-…
Cumberland eyes Portage link (May 20, 2002)
Cumberland Resources (CBD-T) has intersected shallow, high-grade mineralization during a drill program aimed at connecting the Third Portage and North Portage deposits on the Meadowbank gold project i…
LME Warehouse Levels (May 20, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 14 (change from May 7 in brackets):MetalStock (tonnes)ChangeAluminium1131625(+149…