Wage increases slow in minerals sector
Wage increases in the Canadian mining, smelting and refining industry were slightly lower in the first eight months of 1991 than they were in all of 1990, according to the Ministry of Energy, Mines an…
News
NEWS ROUNDUP (April 27, 1992)
An agreement to acquire the 52-sq.-km Sagar-1 property south of Fermont, Que., in the province’s North Shore area has been negotiated by Virginia Gold Mines (ME). The company says an ultramafic comple…
Western Copper, Thermal stake additional claims
The staking of an additional 89 claims on and around the Williams Creek property by partners Western Copper Holdings (VSE) and Thermal Exploration (ASE) brings the companies’ holdings in the area up t…
Amax wins award for reclamation plan
Amax Gold (TSE) has won an award from the California Mining Association for a comprehensive plan to reclaim the Hayden Hill gold mine in Susanville, Calif. A combined effort involving environmental an…
Yakutia, De Beers in diamond deal
The Republic of Sakha (Yakutia), a member nation of the Russian federation, has secured the right to retain 10% of its rough diamond production for independent sale, De Beers Centenary reports. Yakuti…
PRODUCER PRICES (April 27, 1992)
ALUMINUM: MW U.S. market US61-63 cents per lb. (Apr. 9, 1992). ANTIMONY: New York dealer US78-82 cents per lb. (Mar. 26, 1992). BISMUTH: New York dealer US$2.50-2.70 per lb. (Mar. 26, 1992). CADMIUM: …
Moly producers need rally in steel making to prosper
Molybdenum: A world over-supply of molybdenum is mainly affecting primary producers such as Amax’s Hendersen mine in Colorado and Placer Dome’s Endako mine in British Columbia. Widely used in the stee…
Namibia pins hopes on mining
Namibia is confident that its investor-friendly policies, coupled with favorable mineral prices, will result in an upturn in its economy by the mid-1990s. “Potential investors have been waiting to loo…
INSIDER TRADING (April 27, 1992)
Noramco Capital President Murray Sinclair recently increased his stake in Noramco Mining (TSE) to 24% by paying Breakwater Resources (TSE) $1.4 million for a block of shares. According to the Ontario …
Canyon improves its bottom line
A total of 57,070 oz. gold was produced last year by Canyon Resources (NASDAQ) from the Kendall mine in Montana, an increase of 104% from the company’s gold output in 1990. This improved operating per…
Dying exploration industry prompts campaign — Kidd staff
Deeply concerned about their chances of finding another substantial orebody to replace reserves at the aging Kidd Creek copper-zinc-silver mine, geologists at Falconbridge’s Timmins exploration office…
BGR fund foregoes dividend, keeps cash for `opportunities’
BGR Precious Metals (TSE), the only closed end gold investment fund to survive the recent slump in bullion prices, recently cancelled its quarterly dividend. The 25 cents dividend was scheduled to be …