Noranda splashes red ink on 2001
Echoing the woes of its peers, Noranda (NRD-T) suffered huge losses in the final quarter of 2001 and even more during the entire year on account of weak metal markets.In the final three months of 2001…
News
Ivanhoe now owns Mongolian project
Robert Friedland’s Ivanhoe Mines (IVN-T) has assumed 100% ownership of the Turquoise Hill copper-gold project in southern Mongolia after completing its earn-in obligations by spending US$3 million on …
Record production at Red Lake drives Goldcorp
Thanks to a full year’s worth of production from the Red Lake mine in northern Ontario, Goldcorp (G-T) has set a new annual production record.The gold miner cranked out 607,403 oz. last year at a cash…
DRC returns land to Banro
The government of the Democratic Republic of the Congo (DRC) is returning gold concessions it expropriated from Toronto-based Banro in 1998.The land was expropriated because of what the DRC called “ir…
Int’l Curator targets Hunt property
Vancouver — International Curator Resources (IC-T) has kicked off a 5,000-metre diamond drill campaign at the Assean Lake gold project, 120 km northeast of Thompson, Man.About 3,000 metres (eight hol…
Diamondex explores Slave
Diamondex Resources (DSP-V) has put aside $1.2 million to explore the newly acquired Peregrine property in the north Slave Craton of Nunavut.Diamondex was among the first of about 30 companies to acqu…
Block J reveals more gems (February 18, 2002)
An independent sampling program funded by Afri-Can Marine Minerals (AFA-V) and Woduna Mining Holding has recovered several more diamonds from the Block J marine concession in Namibia.De Beers Marine, …
De Beers gains patch on Baffin Island
News that the Canadian exploration division of De Beers has tied up more than 28,000 sq. km in prospecting permits across northern Baffin Island could put the spotlight on Twin Mining’s (TWG-T) Jackso…
Northern Empire, Stornoway add to holdings
Under a cloak of secrecy, partners Northern Empire Minerals (NEM-V) and Stornoway Ventures (SWV) have acquired two properties totalling more than 4,000 sq. km in northern Canada.Northern Empire Presid…
Great Basin boosts Ivanhoe (February 18, 2002)
Vancouver — The jump in the price of the yellow metal has prompted Great Basin Gold (GBG-V) to increase the net present value forecast for the Ivanhoe property in Nevada’s Carlin trend.Based on the c…
Northern Miner Indices (February 18, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T25.5CamecoCO-T4.1FalconbridgeFL-T5.3Franco-Nevada MiningFN-T7.0Freeport McMoRan Cop’r BFCX-N5.7IncoN-T9.2Newmont Mining…
Daily Metal Prices (February 18, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateFeb. 12Feb. 11Feb. 8Feb. 7Feb. 6Aluminium1370.50/13…