Wheaton River raises $334m
Wheaton River Minerals (WRM-T) has raised the funds needed to buy the Peaks gold mine in Australia and a quarter-stake in the Bajo de la Alumbrera copper-gold mine in Argentina.In January, Wheaton agr…
Rio Tinto plc
Control of Indonesia’s KPC mine in dispute
Jakarta, Indonesia — PT Kaltim Prima Coal (KPC), a massive open-pit mine in East Kalimantan, Indonesia, is embroiled in a power struggle with local authorities. The struggle has occurred because KPC …
Barrick shows grassroots prowess with Peruvian find
A new emphasis on grassroots exploration paid off for Barrick Gold (ABX-T) in 2002 with the discovery of the 9.5-million-oz. Lagunas Norte gold deposit at Alto Chicama in northern Peru.Barrick jump-st…
Anatolia, Rio Tinto explore in Turkey
Partners Rio Tinto (RTP-N) and Anatolia Minerals Development (YMC.U-V) have completed the first phase of exploration at the Tunceli property in east-central Turkey.The program, which included regional…
Philex disappoints
Vancouver — Drill results from Philex Gold’s (PGI-V) Boyongan deposit in the Philippines have prompted operator Anglo American (AAUK-Q) to seek additional tonnage on the surrounding North property.Al…
Phelps Dodge
Rio Tinto (RTP-N) and Anatolia Minerals (YMC.U-V) will resume drilling on the Copler (Cukurdere) prospect in Turkey.The partners’ objective is to confirm and expand the shallow, oxide component of the…
Diamonds among best bets for ’03
The Northern Miner asked several followers of the junior mining sector for their recommendations and predictions for 2003. Last week we heard from John Kaiser and Donald Poirier. This week, James Must…
Wheaton eyes $150m private placement
Wheaton River Minerals (WRM-T) will privately place US$150 million worth of shares and warrants to help cover the cost of buying the Peak gold mine in Australia and a quarter-interest in the Bajo de l…
Diavik nears milestone
Construction of the $1.2-billion Diavik diamond mine in the Northerwest Territories is “virtually complete,” report partners Aber Diamond (ABZ-T) and Rio Tinto (RTP-N).The first diamonds are expected …
A sweet week for golds
Gold bugs were delighted over the holiday-shortened report period as prices for the yellow metal surged more than US$7 to a new, 6-year high of almost US$360 per oz.Gold has been on a steady march upw…
Markets top out
U.S. equity markets were broadly better as investors digested the big gains that followed the new year. In the report period Jan. 8-14, the Dow Jones Industrial Average rose 102.03 points to 8,842.62,…
Wheaton River gains Aussie, Argentine assets
Vancouver — In a deal that more than doubles its production, Wheaton River Minerals (WRM-T) has agreed to buy Rio Tinto’s (RTP-N) Peak gold mine in Australia along with the major’s 25% stake in Argen…