South African investment
Mining companies have committed a total R78 billion to the development, over the next three years, of capital projects across South Africa.According to the Johannesburg-based South Africa Chamber of M…
News
Copper bottoms as nickel plummets
The metals market got what it wanted during London Metals Exchange Week (Oct. 22-26), with Phelps Dodge announcing substantial cuts to its high-cost copper operations in the southwestern U.S. In spite…
Raglan mine a strong performer for Falconbridge
As it struggles to return to profitability, Falconbridge (FL-T) is counting on a strong operating performance at its wholly owned Raglan nickel-copper mine in the Ungava region of northernmost Quebec….
CVRD eyes copper in Brazil (November 05, 2001)
Vancouver — Companhia Vale do Rio Doce (CVRD) has inked a US$42.5-million deal with Phelps Dodge (PD-N) to pick up the half-stake it does not already own in the Sossego copper-gold property in north-…
Placer, Grayd table results from White Gold project
Vancouver — A 1,740-metre drill program by Placer Dome (PDG-T) and Grayd Resources (GYD-V) has returned up to 12.2 grams gold per tonne over 1.3 metres on the White Gold property near Tok, Alaska.The…
BLM decision gives Imperial project new lease on life
Vancouver — The stalled permitting process at Glamis Gold’s (GLG-T) Imperial project in southern California got a boost after the Department of Interior’s Bureau of Land Management (BLM) reversed a l…
Gold to rise: TD study
A study by TD Economics into the causes of gold’s misfortunes over the past two decades concludes that prices are likely to trend modestly higher in the coming years.The report, titled Gold’s Lost Lus…
Kikerk find yields stones
A kimberlite discovery at the Kikerk Lake property in the north Slave Craton region of Nunavut has returned a significant number of microdiamonds.Ashton Mining of Canada (ACA-T) unearthed the Potentil…
LME Warehouse Levels (November 05, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct. 30/01 (change from Oct. 23 in brackets):Metalstock (tonnes)ChangeAluminium700175…
Geita powers Ashanti
Ghana-based Ashanti Goldfields (ASL-N) saw its profits nearly double during the third quarter, thanks in part to increased production at its 50%-owned Geita mine in Tanzania.Earnings totalled US$14.5 …
Getchell drags down Placer (November 05, 2001)
Vancouver — A US$292-million writedown on the Getchell mine, near Winnemucca, Nev., pushed North America’s fourth-largest gold miner deep into the red during the third quarter.The one-time charge cau…
Newmont banks on strong second half (November 05, 2001)
Vancouver — North America’s largest gold producer has tabled a solid third-quarter profit on the back of improved sales and a strong contribution from its Batu Hijau copper-gold mine in Indonesia.New…