South African minister in hot water
South Africa’s mines minister, Phumzile Mlambo-Ngcuka, is being criticized for accepting a significant discount on a diamond tiara bought from a member of the South African Diamond Board, which regula…
News
Low Metal Prices take toll on Teck
Vancouver — Partly as a result of the merger that gave rise to Teck Cominco (TEK-T), the new entity has posted an after-tax net loss for the year of $21 million (or 17 per share) after asset writedo…
Minotaur steps out at Olympic Dam-style prospect
The geology and geochemistry of Minotaur Resources’ discovery hole at a large gravity anomaly in the Mt. Woods area of South Australia suggests Olympic Dam-style mineralization and the makings of a po…
Has the tarnish come off?
Gold prices have sustained a rally for more than a month now, if you count the fix of US$272.20 per oz. on Dec. 11 as a bottom. And unlike the old days, it is finding buying support on the way down, r…
Prospecting in Wekusko, Part 1
My prospecting partner, Einar Sanden, and I made our first canoe trip across Wekusko Lake, in north-central Manitoba, in 1955. We had made it across and up to our camp on the narrows, above Crowduck B…
Ontario exploration intensifies
Ontario exploration and deposit appraisal expenditures for 2001 are expected to continue the ascent started in 2000.Spending is expected to climb to $99 million in 2001, an increase of 10%. The upward…
John McCombe
Veteran geological engineer John McCombe, well known for his involvement in the aggregate industry and in open-pit mining, has died.McCombe, who graduated with a bachelor of science degree in geologic…
Producer and Dealer Prices (February 11, 2002)
Antimony: Mid-mkt US$1,125/t.Bismuth: Mid-mkt US$3.25/lb.Cadmium: Mid-mkt US$0.27/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$6.95-7.40/lb.Copper: Comex Mar. US$0.7325/lb.
Black Hawk to buy out Limon royalty
Black Hawk Mining (BHK-T) has made arrangements to buy out a 2% royalty on the El Limon gold mine in Nicaragua for $1.25 million. The deal, with royalty-holder Repadre Capital (RPD-T), will see Black …
World Bank to aid Konkola
The World Bank and the Zambian government are floating a proposal that could keep the Konkola copper mines from sinking. The plan would see funds earmarked for other Zambian development programs funne…
Brett licence approved
The government of El Salvador has issued an exploration licence covering the El Potosi gold mine to Vancouver-based Brett Resources (BRN-V). The new licence was issued in conformance with a new Mining…
Lending Rates (February 11, 2002)
as of 4 pm ET, Feb. 5, 2002 (%)Bank of Canada2.25Canadian Prime3.75U.S. Discount1.25U.S. Prime4.75…