Daily Metal Prices (March 04, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateFeb. 26Feb. 25Feb. 22Feb. 21Feb. 20Aluminium1366.50…
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Northern Miner Indices (March 04, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T25.5CamecoCO-T4.1FalconbridgeFL-T5.3Franco-Nevada MiningNMC-T7.0Freeport McMoRan Cop’r BFCX-N5.7IncoN-T9.2Newmont Minin…
Fort Knox, Dynatec launch $14m program
Vancouver — Fort Knox Gold Resources (fnx-t) and Dynatec (DY-T) have inked a joint-venture agreement to explore, develop and potentially mine five nickel-copper properties in the Sudbury district of …
Insiders weigh in with private placements
Recent insider-trading transactions reported by the Ontario Securities Commission include the following:- Aurora Platinum (ARP-V) — Michael Winn, director, bought 27,600 shares at $2.82-3.29 to hold …
Richmont edges into black (March 04, 2002)
Despite a $4.2-million writedown on its Nugget Pond mine in Newfoundland and a $1-million provision for site restoration in the second quarter, Richmont Mines (RIC-T) dramatically reversed course in 2…
Province, feds disagree on Port Colborne risks
Health Canada and Ontario’s Ministry of the Environment are at odds over hazards faced by residents living in Port Colborne, Ont., near an old Inco refinery.Health Canada says the province may be unde…
Operating costs take toll on Novicourt
Noranda’s (NRD-T) 62%-owned base metal subsidiary, Novicourt (NOV-T), turned in a subdued performance during the last three months of 2001.The junior producer posted net earnings of $600,000 (or 2 pe…
Diamond hunt ignites Nunavut
The year 2001 presented some ups and downs for Nunavut’s mining industry, the most prominent being mine-closure announcements and a possible diamond rush.Last year, the Lupin gold mine, in the Northwe…
Mine in Uruguay helps Crystallex to record output
During 2001, Crystallex International (KRY-T) enjoyed its best year of gold production since beginning mining operations in 1995.From its mines in Uruguay and Venezuela, the company produced 109,000 o…
Inmet inks Antamina put-call deal (March 04, 2002)
Inmet Mining (IMN-T) has signed an agreement with Noranda (NRD-T) whereby either company can initiate the sale of Inmet’s 3.3% net proceeds interest in the Antamina zinc-copper mine in Peru.Inmet’s pu…
Agnico-Eagle posts mixed results for ’01
As a result of the first full year of production at the expanded LaRonde mine in Rouyn-Noranda, Que., Agnico-Eagle Mines (AGE-T) enjoyed solid operating results in 2001. However, the higher output did…
Hope on the horizon
At the annual meeting of the Mining Association of Canada, retiring president Alfred Powis, head of Noranda Mines, reviewed the obstacles and difficulties that have beset the industry in recent years….