Metal Prices (February 14, 1994)
London Metal Exchange Spot closing prices in $US per tonne Date Feb. 8 Feb. 7 Feb. 4 Feb. 3 Feb. 2 Copper 1871-1872 1871-1872 1867-1868 1894-1896 1911-1912 Lead 498-499 506-507 510-511 507-508 506-507…
News
U.S. MINING REPORT — Barrick plans for continued growth
The 1980s saw American Barrick Resources (TSE) grow from a single, small-producing mine to one of North America’s premier gold companies, with five operations. This growth should continue, as the comp…
U.S. MINING REPORT — IGR to option Burkina Faso bet
CDN-listed International Gold Resources can acquire 770 sq. km in Burkina Faso, West Africa. It can do so, subject to the government’s right to acquire a 10% interest, by making unspecified payments a…
Fording acquires Mexican wollastonite deposit
Deciding that carbonized vegetable matter is not everything, Fording Coal has bought a wollastonite property in northwestern Mexico. Through a wholly owned Mexican subsidiary, the Calgary-based compan…
LAST BUT NOT LEAST — Inter-Rock options South Carolina land
Junior Inter-Rock Gold (ME) is optioning seven properties near Jefferson, S.C. The 1,118-acre ground is immediately north of the past-producing Brewer gold mine. Recent exploration on one of the prope…
PEOPLE — SANTA FE PACIFIC (February 14, 1994)
Patrick James elected president and chief operating officer; Richard Zitting appointed chairman and chief executive officer.
Metallica options Frida concession
An option agreement has been signed, affecting the Frida gold concession in southeastern Venezuela. Over a 30-month period, Metallica Resources (CDN) can buy all the shares of vendor Minera Sabine for…
NEWS ROUNDUP — Madsen suing ministry
In an unusual reversal of roles, a mining company has announced its intention to sue the government of Ontario. Madsen Gold (TSE) has served the required 60-day notice of its intention to take legal a…
U.S. MINING REPORT — Exploration revival on Battle-Eureka
The southern portion of the Battle Mountain-Eureka Trend in eastern Nevada has heated up since Homestake Mining (NYSE) announced an impressive gold discovery there late last year. Since the discovery …
NEWS ROUNDUP — Republic finds new gold zones
Two potential open-pit gold zones have been identified on the dormant Congress property in Arizona. The Golden Wave and Bellick zones are north and east, respectively, of the Congress mill. Republic G…
El Abra hits snag
A deal that would have Lac Minerals (TSE) and Cyprus Amax Minerals (NYSE) buy a majority stake in the Chilean El Abra copper deposit has hit a snag. The deal will be delayed pending the resolution of …
Chinese gold demand on the rise
Early signs of market instability and economic overheating have triggered another speculative runup in China’s gold demand, revealed by renewed hoarding of gold jewelry in major Chinese cities. Many r…