LAST BUT NOT LEAST — Crude steel output on rise
Developing countries produced 127.8 million tonnes of crude steel in 1993, up 9% from 1992, the International Iron and Steel Institute reports. It was the first year in which global production in thes…
News
Minefinders options five prospects
Toronto-listed Minefinders has optioned from Equinox Resources (TSE) a 51% interest in each of five gold properties in the western U.S. Four properties are in north-central Nevada and encompass 3,800 …
LATIN AMERICAN SPECIAL — NEWS ROUNDUP — Codelco suffers
Trading losses of US$200 million on the futures markets were estimated earlier this year by Chile’s Codelco, the world’s largest copper producer. According to reports, a trader on the London Metals Ex…
LATIN AMERICAN SPECIAL — NEWS ROUNDUP — Restructuring of
The new Chilean government is considering restructuring Codelco to make it more responsive to the markets. A proposal calls for the transformation of Codelco into a holding company and the creation of…
Nebex focuses on Daigle Lake
Nebex Resources (ASE) is planning more drilling on its Daigle Lake gold property near Yellowknife, N.W.T. It will focus on the MLT zone, which is part of the Shear 20 structure. MLT is 2,000 ft. long …
LATIN AMERICAN SPECIAL — Low-cost Escondida output
The cash cost of the expanding Escondida mine in Chile is in the mid-US40 cents per lb. range. Analysts for T. Hoare & Co. of London, in a recent report, estimate the above production cost for the pro…
LATIN AMERICAN SPECIAL — Guyana, Suriname, French Guiana —
The current interest in South America’s gold potential owes much to the pioneering activities of Golden Star Resources (TSE) at at time when foreign projects were usually discounted by investment anal…
LATIN AMERICAN SPECIAL — Mexico makes good use of its coal
Coal has been a basic commodity for the development of industry as we know it today. It has been essential in most European countries for centuries. More than 3 billion tons of coal are mined annually…
Marum picks up gold property in Montana
Alberta-listed Marum Resources intends to acquire the Wolverine gold property in Madison Cty., Mont., as well as additional ground nearby. Previously, the area was explored for iron ore hosted in an A…
LETTERS TO THE EDITOR — Reporting standards cover diamond
Your editorial “Diamond standard needed” (T.N.M., Feb. 28/94) incorrectly implies that public reporting of Canadian diamond exploration results is not governed by adequate reporting standards. Stock e…
Gold Funds (April 11, 1994)
Gold Funds as of Apr. 6 BGR Central Net Value $17.74 $7.13 Price $15.75 $8.125 Premium 14.0% Discount 11.21% Value $144,113,000 $147,056,813…
Homestake mine boosts production
The Homestake mine in South Dakota produced 13% more gold in 1993 than in the previous year. Indeed, at 447,600 oz., the operation enjoyed its highest level of production since 1971. Homestake Mining …