MOST ACTIVE ISSUES (November 03, 1997)
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News
Teck backs Gabriel in Romania
Gabriel Resources (GBU-V) and Teck have signed an agreement that will enable Gabriel to explore and develop projects in Romania.The Vancouver-based major has agreed to invest $1.2 million and provide …
Inco finds new zones at Voisey’s Bay
Some existing zones have been extended and new zones of nickel-copper-cobalt mineralization have been found at Voisey’s Bay, Labrador, reports Inco (N-T).The company’s exploration drilling and geophys…
Placer joins Arizona Star, Bema at Aldebaran in northern Chile
Placer Dome (PDG-T) has reached a deal with Arizona Star Resource (AZS-V) and Bema Gold (BGO-T) for the right to acquire a 51% interest in the Aldebaran property in northern Chile.Aldebaran is host to…
Cross Lake hits copper
Assay results from hole 17 at Cross Lake Minerals’ (CRN-V) Sheraton-Timmins property, east of Timmins, Ont., are confirming the westward extension of the zinc-lead-silver-copper mineralization seen in…
GREATEST VALUE TRADED (November 03, 1997)
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Oliver leaves Mali for Zimbabwe
Junior gold explorer Oliver Gold (OGO-V) has sold its mineral rights in Mali, including its half interest in the Segala deposit, and is taking its business to Zimbabwe.Oliver sold its rights to proper…
Rex cuts costs in South Africa
Rex Diamond Mining (RXD-T) has taken steps to rationalize its South African assets.The company will acquire all the diamond mining properties, including the Ardo and Rex mines, of subsidiary Carrig Di…
DIAMOND PAGE — DiamondWorks sells gems
Vancouver-based DiamondWorks (DMW-T) has received more than US$3.1 million from the sale of its first parcel of diamonds from the Luo diamond mine in northeastern Angola.The parcel, sold in Antwerp, B…
COMMENTARY — Reforesting Brazilian mine sites
As part of a commitment to sustainable development, Mineracao Rio do Norte (MRN) and Alcan Aluminio do Brasil are participating in a renewal project in the Brazilian Amazon.The Trombetas bauxite mine …
DIAMOND PAGE — Hymex sells alluvial diamonds
Vancouver-based junior Hymex Diamond (HMD-V) has sold just under 11,000 carats of diamonds from its properties in Guinea, West Africa.Proceeds of the sale, held in Antwerp, Belgium, amounted to US$808…
EDITORIAL — The legacy of Busang — Tighter rules on foreign projects Regulators and mining industry experts are engaged in much soul-searching, and a good part of this exercise is aimed at finding ways to ensure that a massive fraud such as Bre-X Minerals’ Busang project does not happen again.
While this infamous bungle in the jungle was an extraordinary event, an open discussion on tightening up the rules of the game is taking place in Toronto. Several proposals for reforms have already be…