News

It was only a passing reference in Finance Minister Donald Mazankowski’s recent federal budget, but Ottawa’s plan to consider privatizing the Cape Breton Development Corp. (Devco) is a good one. The p…

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…

Continuing its active trading during the week ended March 3 was Orient Resources, which has a busy slate of exploration programs, including a joint venture at a gold property in Benoit Twp. in northwe…

Following a due diligence review, Dasserat Developments (VSE) elected not to proceed with an earn-in agreement on the Monument Bay project in northeastern Manitoba. The company recently announced a de…

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 …

Igneous Stone Corp., 50.1% owned by Black Cliff Mines (TSE), has entered into an agreement with an investor group whereby the group will provide $500,000 in equity financing which will be used to brin…

Canadian exploration expenditures totalled almost $800 million in 1990, compared with $828 million in 1989. A survey of companies carried out at the beginning of 1991 suggested that $646 million would…

MINE TAX RATES NOT CLEAR YET Changes in taxation on mining as the result of the tax deals made between the Dominion and the provinces are not yet clear. In principle it is proposed that the provinces …

On behalf of the Mineral Policy Sector and Energy Sector of Energy, Mines and Resources Canada, we are pleased to participate in the presentation of the annual mineral review and forecast in The North…

In 1991, industrial demand for platinum in the non-socialist world increased by more than 5% over 1990. Despite demand, prices hit a six-year low of US$330/oz on Dec. 30, trading below gold for the fi…

Silver prices trended downwards throughout the 1980s and reached a 17-year low of US$3.58/oz in February, 1991. Prices subsequently improved, due to strengthening demand and lower supplies, and averag…

MINING AND MILLING Bolter/Screener Miller Technology has developed an improved bolter-screener that will get its first production workout in Falconbridge’s Craig mine. A joint effort with Getman Corp….