LME Warehouse Levels (April 29, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, April 23 (change from April 16 in brackets):MetalStock (tonnes)ChangeAluminium1076725…
News
Spot Prices Wed. April 24, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$304.50+$4.35Silver$ 4.48+$0.13Platinum$553.00+$…
Lending Rates (April 29, 2002)
as of 4 pm ET, Apr. 23, 2002(%)Bank of Canada2.50Canadian Prime4.00U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.94LIBOR US$ 6-month2.15LIBOR US$ 1-year2.71Gold lease 3-month0.39Gold leas…
Wolfden drills High Lake property
Wolfden Resources (YWO-V) will launch a $2-million program of diamond drilling and airborne geophysics at its High Lake volcanogenic massive sulphide property in Nunavut’s Bathurst Inlet.The first of …
SW Res. sells Poracota
Southwestern Resources (SWG-T) has inked a deal to sell its half-stake in the Poracota gold property in Peru to Compania de Minas Buenaventura for $7.1 million over three years.Teck Cominco (TEK-T) ow…
Ashton finds kimberlite in Coronation Gulf
Ashton Mining of Canada (ACA-T) has found a new kimberlite exposed in outcrop on the Kim property in the north Slave region of Nunavut.The newly dubbed Thrift kimberlite was found in outcrop and float…
DRC settles with Banro
Banro (YBE-V) has acquired a 100% interest in four gold deposits in the Democratic Republic of Congo. Under the agreement, the DRC government retains 100% of the tin assets.The properties, known as Tw…
DRC starts drilling at Afton
Vancouver — DRC Resources (DRC-V) has begun a drill program at the Afton mine property, near Kamloops, B.C.Initially, the drilling will try to extend the Afton Main zone toward the surface. The Main …
PEOPLE (April 29, 2002)
Cons. Thompson-Lundmark — John Paterson appointed director.European Goldfields — Lawrence Kornze appointed director.Glencairn — Peter Tredger appointed director.Manhattan M…
Future bleak for Appalachian coal
Coal provides more than half of the electrical energy needs for the U.S. For more than three centuries, coal has been mined in the Appalachian Basin, one of the most prolific coal-producing regions in…
Noranda launches automation marketing company
Noranda has formed a company called SIAMtec (Systeme Integre d’automatisation Miniere) to market its mining automation technologies. The launch coincided with Quebec Mining Week.Noranda will own 75% o…
Mining suppliers honoured
The Global Traders Awards recently honoured three mining supply firms and a national export trade association at a ceremony in North Bay, Ont. The awards recognize excellence in exporting.Bonfield, On…