THE CANADIAN ECONOMY IN 1992
In 1992, Canada’s Gross Domestic Product (GDP) grew by an estimated 1.2%. This was a very modest gain in light of the reduced economic output that was recorded in each of the two previous years. Throu…
News
EXPLORATION AND DISCOVERY: NON-FERROUS METALS
ALUMINUM By Patrick Chevalier The international aluminum industry faced another difficult year in 1992. Western World demand for aluminum increased slightly over 1991. However, increased world product…
EXPLORATION & DISCOVERY: INDUSTRIAL MINERALS
DIAMONDS By Michel Boucher Following a discovery by BHP and Dia Met at Point Lake in the Northwest Territories, diamonds have become the focus of the hottest land staking fever in Canada since the Klo…
Asarco closing Montana mine
About 300 employees will be affected by the temporary closure, planned for April, of the Troy silver-copper mine near Libby, Mont. Mine operator Asarco (NYSE) attributed the shutdown decision to persi…
Banner year for Centurion
Record revenues and earnings were reported by Centurion Mines (NASDAQ) for its 1992 fiscal year ended Sept. 30. The Utah-based junior noted that revenues increased 375% to US$834,851 over revenues of …
Nevada output of gold rises
Gold production in Nevada totalled 6.5 million oz. in 1992, up from 5.8 million oz. the previous year, the state’s department of minerals reports. Giving the state a major boost was the Goldstrike min…
EXPLORATION & DISCOVERY: DIAMONDS SPARK EXPLORATION; Were it
In 1991, Canadian exploration expenditures totalled $532 million, down from $775 million in 1990. Senior companies spent $416 million and junior companies $116 million. Some 732 operators reported exp…
EXPLORATION & DISCOVERY: IRON ORE
Use of iron ore in Canadian blast furnaces remained low for the third year in a row. Relative to 1991, however, consumption of domestic ores increased by 11%, to 7.6 million tonnes. Iron ore imports, …
Aur resumes diamond hunt in N.W.T.
Toronto-based Aur Resources (TSE) and its partners plan to spend $1.5 million exploring for diamonds in the Northwest Territories this year. Under a recent agreement, Consolidated Abitibi Resources (M…
Placer closing Dona Lake mine
With ore reserves nearing depletion, Placer Dome (TSE) has announced that it will close its Dona Lake mine near Pickle Lake in northwestern Ontario on Aug. 1. Eighty-one employees will be affected by …
Deep drill hole at Nor-Acme mine
A deep hole drilled at High River Gold Mines’ (VSE) Nor-Acme mine in Snow Lake, Man., has intersected two zones of gold mineralization, the company says. The hole was drilled to test the down-plunge e…
NEWS ROUNDUP — Allegheny plans drill program
A drilling program is planned by Allegheny Mines (ASE) at its expanded property holdings in northwestern Ontario. The company hopes to increase reserves by testing a new structural interpretation and …