Suncor expands with Project Millennium
Suncor Energy (SU-T), Canada’s third-largest integrated oil company, is in the midst of a massive expansion of its Oil Sands operation, north of Fort McMurray, Alta., a move that should see the compan…
News
Gold Funds (April 29, 2002)
Gold Funds as at April 18, 2002Dundee Precious MetalsCentral FundNet Value$21.05$5.72Price$15.40$6.10…
WMC puts split vote on hold (April 29, 2002)
Diversified Aussie miner WMC (WMC-N) will postpone a vote by shareholders on a plan to divide into an aluminum unit and a diversified metals unit.Regulatory approval from the U.S. Securities & Exchang…
Teck takes hit in Q1
Vancouver — Poor base metal prices coupled with lower profits from power sales at Trail, B.C., substantially cut into Teck Cominco’s (TEK-T) net earnings during the first quarter.The major raked in a…
NAME CHANGES (April 29, 2002)
Battlefield Mineral (BFM-V) has changed its name to BM Diamondcorp (BDI-V) on a 1-new-for-7-old-share basis.Consolidated Logan Mines (CKO-V) has changed its name to Logan Resources…
Research for the masses
Last week we examined the unhappy case of Merrill Lynch, which is now the subject of an inquiry by New York State securities regulators and prosecutors. Evidence presented by the state has called the …
Silver output soars for Coeur
Vancouver — Production from both the newly commissioned Cerro Bayo mine in Chile and the recently acquired Martha mine in Argentina has Coeur d’Alene Mines (CDE-N) set to increase silver output by 50…
Mining suppliers honoured
The Global Traders Awards recently honoured three mining supply firms and a national export trade association at a ceremony in North Bay, Ont. The awards recognize excellence in exporting.Bonfield, On…
Noranda launches automation marketing company
Noranda has formed a company called SIAMtec (Systeme Integre d’automatisation Miniere) to market its mining automation technologies. The launch coincided with Quebec Mining Week.Noranda will own 75% o…
Gold price fortifies Placer’s quarter
Vancouver — Higher gold prices and lower cash costs propelled Placer Dome (PDG-T) to a healthy profit in the first quarter of 2002, despite an 8% drop in production.The major earned US$43 million (or…
Nickel flexes muscles
Base metals prices staged a technical rally that soon ran out of steam during the report period April 15-19. For the time being, price action in copper, gold and zinc appears to be taking place betwee…
Future bleak for Appalachian coal
Coal provides more than half of the electrical energy needs for the U.S. For more than three centuries, coal has been mined in the Appalachian Basin, one of the most prolific coal-producing regions in…