News

Vancouver — Healthy markets for base metals and coal enabled Teck Cominco (TEK.B-T) to post record earnings for the second quarter.

U.S. stock markets edged lower in the reporting period July 21-27, and for the most part mining equities — in both precious and base metals — edged along with them. The Dow Jones Industrial Average was off 0.6%, falling 63.93 points to 10,085.14…

Vancouver — A US$60-million loan by a major German bank is encouraging Bema Gold (BGO-T) to develop the Kupol gold-silver project in northeastern Russia. The loan should ease investors’ concerns over jurisdictional issues surro…

Vancouver — Deep drilling by Stikine Gold (SKY-V) at its Sullivan Deeps project, 4 km north of the Sullivan lead-zinc mine in southeastern British Columbia, has intersected an important geological “marker” horizon.

A sagging gold price pushed the Toronto Stock Exchange’s gold index 9.28 points, or 4.8%, lower to a 2.5-month low of 183.89 during the July 21-27 report period.

Shares in GGL Diamond (GGL-V) dove 4, or about 12%, to 30 in early afternoon trading in Vancouver on July 21 after initial drilling on the Big Hole target failed to return any kimberlite.

Higher metal prices offset lower production and increased mining costs for Falconbridge (FL-T) in the second quarter, enabling the major to more than triple earnings to US$139 million.

Toronto Venture Exchange-listed companies generally lost ground as gold headed lower during the report period ended July 27. The slump reflects fears of rising interest rates following better-than-expected economic indicators in the U.S. The S&P T…