COMMENTARY — Foreign borrowing grows
Our nation’s financial condition — as represented by unsustainable trends of both government and foreign debt — clouds the immediate recovery prospects. And if not corrected, these debts will stunt …
News
LATIN AMERICA — Bethlehem looks to Venezuela
Dundee International and CMP Resources recently reached an agreement to form a joint venture for the exploration, development and operation of mining projects in Venezuela. In concert with the joint v…
LETTERS TO THE EDITOR — Tatshenshini-Alsek for all
I am responding to the article “Tatshenshini-Alsek area grows in recreational use” (T.N.M., Jan.18/93). I am one of the 1,000-plus people who visited the Alsek River last year. As a mining professiona…
METAL PRICES — FREE MARKET (February 22, 1993)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Feb. 16 Feb. 15 Feb. 12 Feb. 11 Feb. 10 Copper 1530-1531 1557-1558 1559-1560 1563-15…
LATIN AMERICA — Durango’s Barrancas region a potential new
Only in a few areas of Mexico is gold the major ore in the local economy. One of these areas is in Durango state, between the towns of Pueblo Nuevo and Jocuistle in a geological region known as “Barra…
LATIN AMERICA — Minera encounters mineralization
Widespread copper mineralization was encountered with grades of 1.5-2% dominantly copper oxide over widths of 20-60 metres at the Sierra Valenzuela property in northern Chile, Minera Rayrock (TSE) rep…
Diamond hunt gains momentum in Quebec
Diamond fever has spread to the Montreal area and the Abitibi (northwestern) region of Quebec. In the Montreal region, mining entrepreneur Peter Ferderber of Val d’Or, Que., has staked more 200,000 ac…
Lac production tops million oz.
Gold production rose to almost 1.1 million oz. in 1992 from 885,571 oz. in 1991, Lac Minerals (TSE) reports. Production from all of the gold mines in which Lac has an interest totalled 1.14 million oz…
Pipeline dispute not included in gold Fields-Santa Fe deal
A legal dispute between Gold Fields Mining and Placer Dome (TSE) relating to about 40% of the Pipeline gold deposit in Nevada will not be part of an asset exchange between Gold Fields and Santa Fe Pac…
Hemlo Gold lowers operating cost, increases production in
Gold production in 1992 increased to 492,000 oz. at an average cash operating cost of US$125 per oz., compared with 469,000 oz. in 1991 at US$133 per oz., Hemlo Gold Mines (TSE) reports. Gold output f…
METALS MARKETS — Producer shutdowns steady prices
More producer announcements of extended mine and refinery shutdowns during 1993 caused the markets to pause for an impact assessment. To date, the major mining companies appear to be implementing a si…
MSV to purchase Westminer assets
An agreement in principle has been reached between MSV Resources (ME) and Westminer Canada whereby MSV will purchase certain assets of Westminer, including the Copper Rand and Portage mines and the co…