Akrokeri expects quarterly loss
Lower production from the Bonte alluvial gold mine in Ghana will cut third-quarter revenue and earnings for Akrokeri-Ashanti Gold Mines (YAG-V), and the company is warning that year-end production, re…
News
Normandy arranges funds
Normandy Mining’s (NDY-T) 62%-owned subsidiary, Australian Magnesium Corp. (AMC), has arranged a considerable portion of the $525 million needed to develop the proposed 90,000-tonne-per-year Stanwell …
Monetary vs. fiscal policy
A three-quarter-point cut in the Bank of Canada’s overnight-rate target, while it came as no surprise to the capital markets, was a drastic measure. To those used to quarter-point adjustments, such a …
Lower profits force Alcan to cut jobs
Alcan will lay off 5-7% of its 52,000 workers worldwide, including some staff at its head office in Montreal.The announcement follows a disappointing third quarter, in which the aluminum giant earned …
Ontario leads trade mission to Mexico
The Ontario government has joined the province’s mining equipment industry to push for a bigger share of Mexico’s $1.6-billion mining machinery market.The Trade Team Ontario Mission, as it is called, …
Aussies improve open-pit shovels
The Co-operative Research Centre for Mining Technology and Equipment (CMTE) in Brisbane, Australia, has commissioned a study to determine ways to increase the productivity of shovels used in open-pit …
Agnico-Eagle, Mentor merge
Agnico-Eagle Mines (AGE-T) has combined with Toronto-based Mentor Exploration & Development (MV-V) and will retain its original name.Agnico-Eagle acquired the remaining 50.5% of Mentor it did not alre…
Forum targets diesel reductions
An international forum for the exchange of information on the reduction of diesel emissions in mines will take place Nov. 6-8 at the Embassy Suites Hotel in Markham, Ont.The conference is expected to …
Tiberon sizes up resource in Vietnam
Vancouver — With five rigs turning on the Nui Phao tungsten-bismuth-copper-gold property in northern Vietnam, Tiberon Minerals (TBR-V) is preparing to calculate a preliminary resource.So far, the Cal…
Northern Abitibi adds ground (October 29, 2001)
Calgary-based Northern Abitibi Mining (NAI-V) is exploring 13 diamond targets in the Chibougamau area of northern Quebec. The program entails prospecting, surface mapping and till sampling.The prospec…
Crown gets breathing room (October 29, 2001)
Vancouver — Solitario Resources (SLT-T) is providing a $1-million secured-note financing to its major shareholder, financially beleaguered Crown Resources (CRRS-O).The funds are part of a proposed $3…
Inmet drills Lemoine
Four drill holes at the Lemoine property, 25 km southeast of Chibougamau, Que., have returned low-grade intersections for operator Inmet (IMN-T) and partner Loubel Exploration (LBX-V).Inmet, which is …