Anglo, American Mineral to develop Kipushi
The Kipushi polymetallic deposit in Zaire will be reworked following an agreement between American Mineral Fields (VSE) and mining powerhouse Anglo American.The latter will contribute up to $100 milli…
News
Goldcorp extends high-grade zones at Red Lake
Ongoing exploration by Goldcorp (TSE) continues to expand high-grade gold zones at the Red Lake mine in western Ontario.Results from 33 holes show that nine have values greater than 0.97 oz. gold per …
PRODUCER PRICES (May 20, 1996)
ALUMINIUM: MW U.S. market US75.5-76.5 cents per lb. (May 3, 1996).ANTIMONY: MW New York dealer US$1.80-$1.90 per lb. (April 26, 1996).BISMUTH: MW New York dealer US$3.80-3.95 per lb. (April 26, 1996)….
Kookaburra Res.postpones its Cachuyo purchase
Questions about the legality of various mineral claims comprising the Cachuyo copper-gold project in southwestern Peru has prompted Kookaburra Resources (TSE) to halt the proposed acquisition until ma…
Spanish Mountain a Likely bet for Cyprus
A wholly owned subsidiary of Cyprus Amax Minerals (NYSE) has begun a $330,000 exploration program on the Spanish Mountain property near Likely, B.C.The major can earn a half interest in the property f…
Sherritt International reports solid first quarter
Newly formed Sherritt International (TSE) posted strong earnings for the first quarter.The company earned $8.6 million (or 12 cents per restricted voting share) over the period on revenue of $66.3 mil…
Bre-X shareholders approve poison pill
Shareholders of Bre-X Minerals (TSE) recently approved a shareholders’ rights plan, a stock split and a resolution to spin out the Sangihe and Sable properties in Indonesia.Shareholders approved the r…
Sunshine firms up Argentine deposit
Drilling and sampling have expanded the estimated resource of the Pirquitas silver-tin deposit in northern Argentina.Sunshine Mining & Refining (NYSE) reports that the deposit contains 47.5 million to…
Great Central goes strong in Australia
As a result of higher quarterly production, Great Central Mines (NASDAQ) is on target to produce more than 500,000 oz. gold this year from its Australian operation.Gold production for the quarter was …
Phelps Dodge strong despite price slump
Despite a drop in the price of copper, Phelps Dodge (NYSE) was able to post strong earnings for the first quarter.The company earned US$153.1 million (or US$2.26 per share) for the first quarter, comp…
Earnings dip for Cyprus Amax
Low copper and molybdenum prices, combined with bad weather at its U.S.coal projects, caused Cyprus Amax Minerals (NYSE) to earn fewer profits in the recent first quarter than in the same period last …
Nufort reports results from Barrick drilling
Results are in hand for five holes drilled by Barrick Gold (TSE) on the Michaud project, in which Nufort Resources (TSE) holds royalty interests.The project is 12 miles west of Barrick’s Holt-McDermot…