Weak prices hurt Noranda
Weak metals prices and production cutbacks took their toll on Noranda (TSE), which lost $37 million in 1993, compared with net earnings of $79 million in the previous year. Earnings from mining and me…
News
Summo plans public offering
To demonstrate its confidence in several projects in the western U.S., Summo Minerals has announced plans to make a public offering this spring. The most advanced of its projects is in San Juan Cty., …
CanQuest builds B.C. portfolio
Despite, or perhaps because of, the exodus of numerous companies to offshore destinations, some British Columbia-based juniors have opted to stay put. Consider CanQuest Resource, which is planning a p…
Santa Fe boosts reserves
The proven and probable gold reserves of Santa Fe Pacific (NYSE) jumped 26% during the second half of 1993. The biggest boost was experienced at the Twin Creeks mine near Winnemucca, Nev., mainly in t…
Euro-Nevada spinoff to focus on Latin American properties
The principals behind two hugely successful royalty companies are aiming to roll out another such entity. The targeted royalty investments this time are gold properties in Latin America. Currently, th…
Metals in decline — Canada’s mineral value rises in 1993
In 1993, the value of Canada’s mineral production increased by 1.9%, or about $700,000, from the previous year. Preliminary estimates by the federal Department of Natural Resources indicate that the v…
African potential focus of forum
Mining investment opportunities in Africa will be the focus of a conference June 6-8 in Denver, Colo. Mines ministers from about 15 countries in sub-Saharan Africa are expected to attend. Organized by…
Barrick’s proposal rejected by Bre-X
A proposal in which American Barrick Resources (TSE) offered to acquire property joint-venture options and an equity stake in Bre-X Minerals (ASE) has been rejected. “We declined Barrick’s offer becau…
EDITORIAL PAGE — The great Canadian way
The town of Cobalt, a quiet hamlet today, is said to be the cradle of Canadian mining. True, the discovery of nickel in Sudbury preceded development of the Cobalt silverfields (and to this day, Sudbur…
COMMENTARY — CANMET assists Selbaie, Dickenson
To ensure the stability of their copper-zinc mining project, operators of Les Mines Selbaie in northwestern Quebec are monitoring excavations with time domain reflectometry (TDR). The cable-testing te…
NEWS IN BRIEF (February 14, 1994)
Randstrom Manufacturing (ROW:VSE) has changed its name to Francisco Gold (FGX:VSE) on a share-for-share basis.
New aluminum plant for Quebec
By the summer of 1995, a new aluminum plant will be up and running in Trois-Rivieres, Que. The provincial government and Venezuelan-based Sural have agreed to share the $60-million cost of building th…