Porphyry deposit at South Kemess
A large porphyry copper-gold deposit is being outlined at the South Kemess property in the Toodoggone region of north-central British Columbia. El Condor Resources (VSE) and Kennecott, in a 60-40 join…
News
Amax profit down from 1989 due to weak aluminum price
New York metals giant Amax (NYSE) succeeded in weathering both the recession and weak aluminum prices to post a substantial profit during fiscal 1990, albeit a smaller one than in 1989. For the year e…
Potash sale to fund Chinese aid projects
The Canadian International Development Agency (CIDA) says it will purchase $4.6 million worth of potash fertilizer from Saskatoon-based Canpotex for delivery to China. Canpotex handles offshore sales …
Varna and Long Range reach an out-of-court settlement
Two Calgary-based junior mining companies have agreed to lay down their arms and concentrate on working their respective properties in Newfoundland. Varna Gold (ASE) and Long Range Resources (ASE) had…
Del Norte options California mine
Based on the favorable findings of a preliminary investigation, Consolidated Del Norte Ventures (VSE) recently acquired an option to evaluate and own 100% of the Idaho-Maryland gold mine and accompany…
Black Cliff options properties in Chile
An option to earn a 75% interest in three Chilean copper-gold properties has been obtained by Black Cliff Mines (TSE) from a private Chilean company. The first property, Los Navarros, comprises 1,615 …
U.S. REPORT New tax laws in 27 states a mixed bag, survey finds
A survey of 1990 mining tax legislation showed no clear winners in 27 states, reports Mining Cost Service, a publication of Western Mine Engineering of Spokane, Wash. An assortment of laws were passed…
Gauther would sell St. Genevieve Resources
Apparently fed up with waiting for his company’s share price to move upward, St. Genevieve Resources (TSE) Chairman Pierre Gauthier has retained Merrill Lynch Canada to find a buyer for the Montreal-b…
De Beers annual diamond sales total US$4.17b
Annual sales of rough diamonds by the Central Selling Organization (CSO) of De Beers totalled US$4.17 billion last year, up 2% from US$4.09 billion in 1989, the company reports. The 1990 sales figure …
Alaskan mineral revenue doubles
The value of mineral production in Alaska for 1990 jumped to US$534 million in 1990, up substantially from the US$277 million reported in 1989. The increase was primarily caused by a jump in base meta…
Renabie mine to close this year
Stung by weak gold prices and high operating costs, the Renabie gold mine near Wawa, Ont., will shut down its stopes permanently this year, says owner Renabie Gold Mines, a subsidiary of Corona (TSE)….
Hollinger testing manganese sample
Shipment of an 8,000-tonne test sample of manganese ore to a ferro2Dmanganese furnace near Montreal has been completed, Hollinger North Shore Exploration reported. Hollinger, a unit of La Fosse Platin…