2002 marked by further consolidation
It did not feel as momentous as 2000 or 2001, when we saw the creation of several global mining giants, but 2002 was full of smaller-sized mergers, particularly in the precious metals sector.Among the…
News
European mission raises profile of central Newfoundland
A mining trade mission that visited Europe in early autumn 2002 to drum up interest in central Newfoundland’s resource potential has proved successful, according to the president of the Newfoundland a…
Second attack kills 13 at TVI’s Canatuan
Vancouver — Less than a month after receiving approval to develop the Canatuan polymetallic property in the Philippines, TVI Pacific (TVI-T) has again felt the impact of local rebels.In late December…
Asarco tables more cuts (January 06, 2003)
Vancouver — Asarco, a subsidiary of the world’s third-largest copper miner, Grupo Mexico, aims to cut production at its Mission mining complex in southern Arizona to 22,000 tonnes annually.The debt-r…
BHP Billiton drops Ekati brand
London-based BHP Billiton has dropped its Ekati diamond brand in favour of Aurias, a brand already known in markets outside North America.The company previously sold diamonds under the Ekati brand nam…
Ontario court awards damages to Kinbauri
The Ontario Superior Court of Justice has awarded junior explorer Kinbauri Gold (YKB-V) compensatory damages of $1.7 million plus prejudgment interest and costs, in relation to a failed 1990 merger ag…
BHP unloads CVRD stake (January 06, 2003)
Vancouver — Seeing little strategic value in holding on to its stake in iron ore producer Companhia Vale do Rio Doce (CVRD) (RIO-N), BHP Billiton (BHP-N) has agreed to sell its 2.1% indirect interest…
Barrick stands out among explorers in 2002
‘Tis the season to be repetitive.New precious and base metals discoveries all but failed to make headlines in 2002, with most explorers remaining firmly attached to known deposits. Still, the tactic w…
Spot Prices Monday, December 30, 2002 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$348.50+4.60Silver$4.72+0.09Platinum$598.00+5.00P…
Producer and Dealer Prices (January 06, 2003)
Antimony: Mid-mkt US$2,600/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.57/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$6.30-6.80/lb.Copper: Comex Mar US$0.704/lb.Indium: Indiu…
Ivanhoe Mines turns to Aussies for cash
Ivanhoe Mines (IVN-T) is raising up to $60 million through a private placement financing targeting Australian investors.The financing consists of up to 20 million special warrants priced at $3 apiece….
Aurizon goes deeper at Casa Berardi
Vancouver-based Aurizon Mines (ARZ-T) has raised $8 million after issuing nearly 5.2 million flow-through shares and 740,740 common shares priced at $1.35 apiece.The $7 million raised from the flow-th…