Aussie dollar not alone in its woes
The experience of the Australian dollar paralleled that of most major currencies in the past three years, as capital flowed into U.S. markets and into greenback-denominated investments. The Aussie ave…
News
AngloGold bids for Normandy (September 10, 2001)
Moving to expand and diversify its gold portfolio, AngloGold (AU-N) has launched an all-share bid to acquire Normandy Mining (NDY-T), Australia’s largest gold miner.Creating what it describes as the “…
Currency hedges hit earnings in Australia
A local currency that had lost a fifth of its value against the U.S. dollar might have been expected to help local commodity producers make near-windfall profits, as costs stayed static and revenues t…
Julietta mine to start up in fourth quarter
Only months after low gold prices forced the closure of its high-cost Refugio mine in Chile, Bema Gold (BGO-T) has announced a fourth-quarter startup for its 79%-owned, fully-financed Julietta gold-si…
Canabrava tests showing
Field geologists with Canabrava Diamond (CNB-V) have discovered the possible source of two diamond-bearing kimberlite boulders found earlier this year by Kennecott Canada Exploration on the Rocky Isla…
Metals boom awaits global prosperity Bad governance fuels poverty
The recent slump in metals demand is taking a heavy toll on mining companies, and with Western politicians conceding that their economies may take longer to recover than expected, producers are hunker…
News – 10-SEP-01
Imperial suspends operations
The beleaguered Mount Polley mine in central British Columbia will close its doors in late September because of continuing low copper and gold prices.Imperial Metals (IPM-T) is suspending operations, …
North American Palladium breaks new ground at Lac des Iles
Thunder Bay, Ont. — Unique by virtue of the metal it produces, Canada’s only primary palladium mine is now among the few operations to expand production when most are struggling just to survive.North…
Starfield expands at Ferguson Lake
Vancouver — Drilling has increased, by 5.6 million tonnes, the inferred resource at the Ferguson Lake nickel/copper/cobalt/ platinum-group-metal project in Nunavut.Starfield Resources (SRU-V) reports…
The Northern Miner — North American Mining Index (September 10, 2001)
73.06 (-0.88)(Sept. 30/98 = 100)…
Correction (September 10, 2001)
Mirabel Resources (RMB-M) is operator of the Montauban project in Quebec which consists of 83 claims, 50 km northeast of Trois-Rivieres.An earlier story (T.N.M., July 16/01) stated that 28 of the clai…