Quintette makes deal with railway
As a result of an 11th-hour agreement with B.C. Rail, Quintette Coal managed to meet its Feb. 29 deadline to file its restructuring agreement with the British Columbia Supreme Court. Quintette has bee…
News
Lower prices, output hurt Hecla in 1991
A net loss of US$15.4 million was reported by Hecla Mining (NYSE) for 1991, a downturn from 1990 when the company recorded net earnings of US$6.7 million. A loss of US$1.9 million on revenue of $27.3 …
Hemlock further explores Golden Quail property
A second phase of drilling is under way at the Golden Quail property in San Bernardino Cty., Calif. Located about 12 miles west of Viceroy Resources’ Castle Mountain project, the property is under opt…
FMC makes plans for lithium source
Plans to explore and develop a source of lithium in Bolivia were announced recently by FMC (NYSE). Source of the lithium is a brine deposit considered to be among the largest reserves of the mineral i…
Mimiska acquiring Nevada property
An agreement to purchase 100% of the Malachite gold-silver-copper patented mining claim in Lyon Cty., Nev., from Lexus Minerals has been entered into by Societe Miniere Mimiska (ME). Mimiska said a st…
Tri Origin tests potential of its Australian property
With the application of “Canadian-style” exploration techniques, Tri Origin Exploration (TSE) figures it has a good chance of finding a polymetallic massive sulphide deposit on its Lewis Ponds propert…
Morgain drilling in New Hampshire
Drilling is under way at the Higgins property in New Hampshire, says owner Morgain Minerals (VSE). The company will test two geophysical conductors, one on the southern half and the other on the north…
Olympic Dam expands capacity
The expanding Olympic Dam polymetallic mining project in northern Australia should be processing six million tonnes of material per year by the mid-1990s. The annual production by mid-decade is expect…
New owner planning to expand Quinsam coal
Expansion of the Quinsam coal mine on Canada’s west coast is planned by the project’s new owner. “We screened scores of properties before we found what we were looking for,” George Vooro, president of…
Westar reviews re-restructuring
Only two years after completing a debt reorganization, Westar Mining (TSE) is reviewing a further restructuring of its financial obligations. The original restructuring, completed in early 1990, resch…
Dome cuts costs by 40% following bitter strike in 1990
In an extremely impressive turnaround, the Dome mine here of Placer Dome (TSE) has become one of North America’s lower-cost gold producers. At a recent Chamber of Commerce seminar, Dome general manage…
Cominco doubles reserve estimate at Pebble Copper
A drill program carried out by a unit of Cominco (TSE) during 1991 more than doubled preliminary reserves at the 100% owned Pebble Copper deposit in the Bristol Bay region of Alaska. The deposit is no…