Dakota’s Alaskan unit seeks creditor protection
Crumbling under a large debt load, Dakota Mining (DKT-T) operating subsidiary USMX of Alaska has filed for bankruptcy protection.After a 90-day interim financing facility provided by NM Rothschild & S…
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Orezone expands Intiedougou
In hopes of replicating the success of its exploration of the Intiedougou gold property in Burkina Faso, Orezone Resources (ORZ-M) has optioned a 500-sq.-km parcel of land immediately to the south.Ore…
Akrokeri-Ashanti pulls ore from Esaase mine
By strategically shifting its 1997 production to the Jeni property in Ghana from the adjoining Esaase property, Akrokeri-Ashanti Gold Mines (AAGM-C) has managed to alleviate the effects of low gold pr…
GEOLOGY 101 — Diamond deposits, Pt. 1
.BDerek WiltonDiamond, which is pure carbon, is the hardest substance known, yet diamonds can be broken relatively easily. Paradoxically, graphite, one of the softest minerals, is a polymorph of diamo…
Rio Algom teams with Anatolia
Evergreen, Colo.-based Anatolia Minerals Development (AMCD.U-C) and Toronto-based Rio Algom (ROM-T) have agreed to jointly explore base and precious metal prospects in Turkey.The agreement, which is e…
Homestake makes bid for remainder of Prime
San Francisco-based Homestake Mining (HM-N) has made an offer to acquire the 49.4% of Prime Resources Group (PRU-T) that it does not already own.The deal would see Prime shareholders exchange each of …
SUPPLIERS NEWS ROUNDUP — Satellite firms win business award
Richmond, B.C.-based Radarsat International and Rockville, Md.-based Earth Satellite have won a Canadian-American Business Achievement Award, in recognition of their remote sensing partnership.The awa…
MINING MARKETS & INVESTMENT NEWS — Tenke engaged in joint-venture negotiations
With the feasibility study for Tenke-Fungurume nearing completion, Tenke Mining (TNK-T) is negotiating with major companies interested in participating in the huge copper-cobalt project in the Democra…
EDITORIAL — Mining traditions worthy of respect — Staking our claim
At Inco’s 1997 annual meeting in Toronto, an aboriginal spokesman stood up and warned shareholders that their $4.3-billion investment in the Voisey’s Bay project was a mere “paper investment” insofar …
SUPPLIERS NEWS ROUNDUP — Scintrex working in Brazil
The airborne survey division of instrumentation firm Scintrex has joined with a Brazilian survey company. The new joint venture is known as Megafisica.In addition, Scintrex has been awarded contracts …
Grayd ready to drill in Alaska
Grayd Resource (GYD-V) has arranged a non-brokered private placement of 1.03 million units at $1.50 each, for proceeds of $1.5 million.Each unit will consist of one common share and one-half of a non-…
New association to fight for land rights
Beginning with land-use planning in Ontario and then reaching out across the continent, the fledgling North American Mining Association (NAMA) has set out to co-ordinate the advocacy efforts of all se…