South African strike delayed
At presstime, a national strike at South Africa’s gold mines had been postponed until late July. However, the National Union of Mineworkers (NUM) said the labour action would go ahead at certain coal …
News
Inco earnings down in second quarter (July 30, 2001)
Nickel producer Inco (N-T) posted second-quarter earnings of US$45 million as revenue from nickel sales continued to shrink. At the same time, the company unveiled a deal with the government of New Ca…
Goldcorp soars at Red Lake mine
With results continuing to exceed predictions, Goldcorp (G-T) has once again revised its production forecast for the Red Lake mine in northwestern Ontario.Production is now expected to top an impressi…
El Peon keeps Meridian in black without hedging
With second-quarter net income of US$10 million on revenue of US$27.8 million, Meridian Gold (MNG-T) has proved that real money can be made in the gold business without hedging. Much of the credit bel…
Rio narrows gap with Anglo
Rio Tinto continues to gain ground on Anglo American in its quest for first place among global mining companies, as ranked by the Raw Materials Group in Who Owns Who in Mining 2001.The U.K.-based tita…
IMA readies Peruvian gold prospect for drilling
While constructing pads for an upcoming drill program, IMA Exploration (IMR-V) uncovered a new gold showing at its Rio Tabaconas project (formerly known as Tamborapa) in northern Peru.The outcrop yiel…
PEOPLE (July 30, 2001)
Elkhorn — Robert Trenaman appointed director.National Gold — Chester Millar, Albert Matter and James McDonald appointed directors.Plexmar — Louis Lessard appointed director.
Rapu Rapu closer to production
With an environmental permit in hand, Australian-based Lafayette Mining is proceeding with development of the Rapu Rapu massive-sulphide mine in the Philippines.Situated in Albay province, on the isla…
News – 30-JUL-01
US becoming reliant on imported minerals
The U.S. Geological Survey (USGS) has long been an anomaly in the Department of the Interior, particularly in the bad old days when Bruce Babbitt ruled the department with a mean green fist. The notio…
NAME CHANGES (July 30, 2001)
Canada Fluorspar Inc. (CFI-V) has changed its name to Continental Ridge Resources (KRI-V) on a 1-new-for-1-old-share basis.
That sinking feeling
Worse-than-expected industrial production data for the U.S. and the European Monetary Union (the eurozone IP moving into negative territory, year over year, for the first time at minus 0.1% in May), t…