News

The recent federal budget extended, by one year, the Investment Tax Credit for Exploration in Canada (ITCE), also known as “super” flow-through shares. The buying period for shares eligible for the ITCE will end Dec. 31, 2005, 12 months longer tha…

South African gold producers Harmony Gold (HMY-N) and Durban Roodepoort Deep (DROOY-Q) have both issued bids for Pacific Rim mining companies, continuing efforts to diversify geographically.

Antimony: Mid-mkt US$2,950/t.

— The following is an excerpt from the ninth edition of Mining Explained, published by The Northern Miner. The book sells for $30 plus $3 for shipping and is available by calling 1-800-668-2374. E-mail: northernminer2 @northernminer.com.

Vancouver — Robex Resources (RBX-V) has arranged a private placement that will raise between $750,000 and $2.5 million. The money will be applied to the LaCorne and Kolomba gold properties in Mali, West Africa.

Vancouver-based Canadian Zinc (CZN-T) intends to spend $3 million exploring the Prairie Creek mine property in the Northwest Territories.

Twenty miners reported illness following exposure to uranium-contaminated water while showering at the Ranger mine, 220 km east of Darwin in Australia’s Northern Territory.

North American Palladium (PDL-T) will construct an underground mine at its Lac des les operation, near Thunder Bay, Ont.

The government of South Africa is expected to scrap a proposed 3% royalty on revenue from gold mining companies with operations in the country. The industry has warned that the royalty would force them to close mines and lay off workers.

New York, N.Y.-based jewelry giant Tiffany & Co. recently took out a full-page advertisement in the Washington Post protesting the proposed Rock Creek copper-silver mine in northern Idaho.