Cassiar settles insurance claim
An investment group holding 49.62% of Cassiar Magnesium (CIR-T) says its decision to terminate senior management, including former chairman Clifford Frame, was done “in the best interest of all shareh…
News
Homestake buys Aussie project from Rio Tinto
Denver — In return for US$27.6 million, Homestake Mining (HM-N) will acquire the Cowal project in New South Wales, Australia, from North Gold (WA), a wholly owned subsidiary of Rio Tinto (RTP-N).Acco…
Kennecott slashes copper output
Denver — Kennecott Utah Copper, a subsidiary of Rio Tinto (RTP-N), has suspended operations at the North concentrator and cut 235 workers in an effort to reduce costs.Operations, including rail haula…
LaRonde to produce more gold
Having outlined more reserves, Agnico-Eagle Mines (AGE-T) intends to increase daily production to 7,000 tons at the LaRonde gold-copper mine, near Val d’Or, Que.Since it expanded the milling rate to 5…
Teck, Mansfield persevere at Rio Grande
Vancouver-based junior Mansfield Minerals (MDR-V) is encouraged by results from the first round of drilling on the Rio Grande iron oxide-copper-gold prospect in northwestern Argentina. The program has…
Expatriate receives extension
Vancouver — Cominco (CLT-T) has granted Expatriate Resources (EXR-V) a payment extension for its purchase of the Kudz Ze Kayah deposit in the Finlayson Lake District in the Yukon.According to the ame…
Canyon ponders underground mine at Briggs
Denver — Low gold prices are putting a damper on the North Briggs project, in southeastern California, reducing the size of what was to be a real cost-saver for owner Canyon Resources (CAU-X).The Den…
Power problems mount for U.S. miners
Denver — The dramatic rise in electricity costs for mining operations in the western U.S. continues to threaten the industry. Blackouts are again keeping Californians in the dark, and deregulation go…
Buttress supports mining at Newmont’s Deep Post
Denver — In northern Nevada’s Carlin trend, Newmont Mining (NEM-N) has erected a buttress to support the south highwall at the Betze-Post mine, allowing underground miners at the Deep Post mine to ge…
AngloGold expands Cresson mine
Denver — The Cresson gold mine, part of the Cripple Creek & Victor joint venture, southwest of Colorado’s Pikes Peak, is producing ore at greater than its design capacity.Originally designed to crush…
LME Warehouse Levels (June 11, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 5/01 (change from May 29 in brackets):MetalStock (tonnes)ChangeAluminium588150(+…
Gold Funds (June 11, 2001)
Gold Funds as of May 31, 2001Dundee Precious MetalsCentral FundNet Value$13.52$5.29Price$9.50$5.05…