New shaft at Kidd Creek
Falconbridge has hired Cementation Skanska to sink the No. 4 shaft at its Kidd Creek mine, near Timmins, Ont.Kidd Creek is already North America’s deepest operating mine. The new shaft will extend mor…
News
Compensation for displaced miners
An announcement by Dan Newman, Ontario Minister of Northern Development and Mines, has broken previous written commitments made by the Ontario government to the exploration and mining sector. The gove…
Gold Funds (April 15, 2002)
Gold Funds as at April 4, 2002Dundee Precious MetalsCentral FundNet Value$20.66$5.84Price$15.70$5.65…
Spot Prices Wed. April 10, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$298.70-$6.25Silver$ 4.56-$0.14Platinum$526.00-$…
Cyanide code for gold mining
The global mining industry has agreed upon a code for the management of cyanide at gold operations. The International Cyanide Code for Gold Mining is based on discussions among industry representative…
Scorpio tables Candelaria results (April 15, 2002)
Vancouver — Scorpio Mining (SPM-V) has tabled a final compilation of all drill results from surface and underground drilling on its Nuestra Senora polymetallic project in Mexico’s Sinaloa state.Betwe…
Semafo pours Guinean gold (April 15, 2002)
Montreal-based Semafo (SMF-T) has made the leap from explorer to miner by opening the Kiniero gold mine in Guinea.The open-pit operation, formerly known as Jean Gobele, was built at a cost of US$12.4 …
Chesbar eyes Buena Vista (April 15, 2002)
Chesbar Resources (CBI-T) has inked a deal with joint-venture partner Intrepid Minerals (IAU-V) to boost its stake in Guatemalan-based Minera Mayamerica to 100% from 70%.Mayamerica holds six licences …
Drilling expands La Fortuna (April 15, 2002)
Drilling on Metallica Resources’ (MR-T) El Morro copper-gold project in Chile has extended the main La Fortuna deposit north and northwest.Hole 30 cut 111 metres (from 184 metres below surface) of sec…
Guyana pursues placement
Guyana Goldfields (YGI-V) will attempt to raise $400,000 by way of a brokered private placement.The placement comprises 1 million units priced at 40 each. A unit consists of a share and half a warran…
Newmont joins
Newmont Mining (NEM-N) has agreed to acquire up to a 75% stake in Wolfden Resources’ (YWO-V) Skinner gold property in Ontario’s Red Lake mining district.Newmont can initially earn a 65% interest in th…
Lending Rates (April 15, 2002)
as of 4 pm ET, Apr. 9, 2002(%)Bank of Canada2.25Canadian Prime3.75U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.97LIBOR US$ 6-month2.23LIBOR US$ 1-year2.97Gold lease 3-month0.48Gold lease…