EDITORIAL PAGE — WWF, diamonds and the North
It was only a matter of time before groups such as the World Wildlife Fund (WWF) came to realize the scope and pace of diamond-related exploration and development taking place in Canada’s North. And a…
News
ODDS’N’SODS — A draftsman under suspicion
In 1936-37, the reorganized Paymaster Consolidated gold mine near Timmins, Ont., was limping along; money was scarce for several years. Our master mechanic, Bill White, needed a draftsman-designer but…
INSIDER TRADING — Great Lakes officials exercise options,
A director and a senior officer of Great Lakes Minerals (TSE) exercised options and sold shares in June. According to the Ontario Securities Commission’s OSC Bulletin, director Robert Cudney exercised…
PRODUCER PRICES (August 08, 1994)
ALUMINUM: MW U.S. market US73.5-74.3 cents per lb. (July 14, 1994). ANTIMONY: MW New York dealer US$2.25-2.50 per lb. (July 14, 1994). BISMUTH: MW New York dealer US$3.85-4.30 per lb. (July 14, 1993)….
Gencor succeeds in Billiton bid
South Africa’s Gencor mining house has acquired Royal Dutch-Shell group’s metals and minerals arm, Billiton, for US$1.2 billion. The new resource group is to be called Billiton International and will …
Porgera blast
An explosion that killed as many as 10 people has suspended operations at the Porgera gold mine in Papua New Guinea. The mine is 25% owned by Placer Pacific, a subsidiary of Placer Dome (TSE). Althoug…
METALS COMMENTARY — Simmering demand heats up industry
Normally, the summer holiday season is a quiet one for metals markets, but this summer is proving less quiet than most. Many customers of the mining industry are being met with an unusual challenge: t…
TSE SHORT POSITIONS (August 08, 1994)
Semi-monthly reports as of Jul 15, 1994 showed 265,326,185 shares of 901 issues compared with 249,548,306 shares of 870 issues on Jun 30, 1994. Larger individual positions included: Aber 111,500, up 6…
Third Escondida expansion approved
The owners of the Escondida copper mine in northern Chile’s Atacama Desert have expanded production capacity twice since operations started in November, 1990. The partners now plan to spend US$520 mil…
Inco reports quarterly loss despite improved metal prices
Nickel and copper prices have improved, but Inco (TSE) continues to spill red ink. The company reported a second-quarter net loss of US$7.6 million, compared with a net loss of US$2.2 million for the …
Ruling not overturned: Gold Reserve
Two mining companies are at odds over a court ruling dealing with property rights in Venezuela. Gold Reserve (TSE) of Spokane, Wash., says TVX Gold (TSE) was incorrect in announcing that a ruling in f…
UN approves resolution regulating seabed mining
The United Nations General Assembly has passed a resolution regulating seabed mining, paving the way for ratification of the landmark UN treaty on the Law of the Sea, which has languished for years. T…