Swiss aid for Noril’sk
Russia’s Noril’sk Kombinat has secured a US$55-million loan from a Swiss-based bank to improve its operations.The first installment of the loan, which was provided by Union Bank of Switzerland, is US$…
News
Phosphate producers to expand in South America
A joint subsidiary of Luxembourg-based Minorco and British-based Albright & Wilson has signed a deal to supply phosphate to several South American countries.The company will be owned equally by the pa…
DIAMOND PAGE — Redaurum to dispose of mining assets
Toronto-based Redaurum (RRK-T) is leaving the diamond mining business.The company says it has decided to sell its interest in all three of its producing diamond mines because “the full value of curren…
SPOT PRICES (December 22, 1997)
Wednesday, December 17, 1997Price (US)Week’s ChangeGold*$286.10+ $1.05Silver*$ 6.0…
LME WAREHOUSE LEVELS (December 22, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Dec.16/97 (change from previous week in brackets):MetalStock (tonnes)Change…
Drilling to resume at Poracota
Southwestern Gold (SWG-T) and partner Teck (TEK-T) are poised to begin the third phase of drilling at their Poracota gold property in southern Peru.The property is part of the Cotahuasi joint venture….
PRODUCER AND DEALER PRICES (December 22, 1997)
Aluminium: LME settlements US$1,502, alloy US$1,378 per tonne (Dec. 16/97).Antimony: Representative mid-market US$1,570 per tonne (Dec. 16/97).Bismuth: Representative mid-market US$3.35 per lb. (Dec. …
METAL PRICES — Daily Metal Prices (December 22, 1997)
BASE METALS (London Metal Exchange-Midday bid/ask prices in US$ per tonne)DateDec.16Dec.15Dec.12Dec.11Dec.10…
TORONTO STOCK EXCHANGE INDICES (December 22, 1997)
1997Dec.16Dec.15Dec.12Dec.11Dec.10HighLowComposit…
Bleak outlook for nickel market
The outlook for nickel over the next few quarters and beyond is not great.In today’s terms, you could even say it’s as good as gold.Credit Lyonnaise, a major metal trader, has forecast a 10,000-tonne …
FACTS ‘N’ FIGURES — Gold struggles in SE Asia
The recent currency and economic crisis in Asia has had a significant impact on gold demand there.Demand for the yellow metal in the third quarter of 1997 barely reached 50 tonnes, less than half its …
COMMENTARY — New name, similar mandate
The author is the newly appointed president of the Mining Association of Canada. He has written the following article at the request of Keep Mining in Canada, an organization designed to increase awar…