Gold found at World Trade Center
Workers at Ground Zero have unearthed hundreds of millions of dollars in lost gold amid the ruins of the World Trade Center in New York, N.Y., the New York Daily News reports.The gold was found in a d…
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Cdn Zinc finds more veins at Prairie Creek
Vancouver — Canadian Zinc (CZN-T) is encouraged by results from a just-wrapped diamond drill program at the Prairie Creek zinc-lead-silver property in the Northwest Territories.The junior is incorpor…
Banks commit US$230m to Aber
A banking group will provide a US$230-million debt facility to Aber Diamond (ABZ-T) so that the Toronto-based company can fund its share of the remaining capital costs at the Diavik project in the Nor…
Falco fined for safety violation
Falconbridge has been fined $75,000 for violating the Ontario Occupational Health and Safety Act at its Lockerby nickel-copper mine in Walden, Ont.The incident occurred in September 1999, when a miner…
Gitennes dumps Virgen
Junior Gitennes Exploration (GIT-T) has sold its share in the Virgen gold property in Peru. A private Peruvian company paid US$1 million and must pay another US$500,000 in the coming weeks for the pro…
Desperate Breakwater pulls plug on Nanisivik
Teetering on the brink of oblivion, Breakwater Resources (BWR-T) has decided to shut down its Nanisivik zine mine in Nunavut. The closure is scheduled for September 2002.Low zinc prices, combined with…
US data drag prices lower
Despite fresh production cuts in zinc and copper (in byproduct form), base metals prices continued to trend lower during the report period Oct. 29-Nov. 2, dominated by poor economic data out of the U….
Thistle eyes South African assets
Thistle Mining (THT-T) is buying five underground gold mines in the Free State of South Africa. Thistle will pay US$32 million in cash, plus a monthly royalty of US$8 per oz. gold for five years.Among…
Ivanhoe fires up Bakyrchik
After a 5-year hiatus, the Bakyrchik gold mine in northeastern Kazakstan is once again pouring gold.On a daily basis, Ivanhoe Mines (IVN-T) is tapping 500 tonnes of stockpiled material left over from …
Feds slash key rate to 2%
The biggest market-driver in the U.S. during the report period ended Nov. 6 was the Federal Reserve’s slashing of its overnight lending rate by 50 basis points to 2%, its lowest level in more than 40 …
Teck, union reach deal
Teck Cominco and the unions at the company’s Trail operations in southwestern British Columbia have ratified the terms a collective agreement.The contract runs through 2005 and is retroactive to June …
Coronation pipes return strong counts
A new kimberlite camp is emerging some 50-120 km south of Coronation Bay in the northern Slave Craton region of Nunavut. Discoveries by Ashton Mining of Canada (ACA-T) and Kennecott Canada Exploration…