Aur digests QB purchase
As the dust settles following last fall’s purchase of the large Quebrada Blanca mine in Chile, junior copper producer Aur Resources (AUR-T) is reporting a loss for 2000.Aur posted a net loss of US$15 …
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Correction (February 26, 2001)
In the B section of our Feb. 5 issue, we misquoted David Copeland, director of projects for the Hunter-Dickinson group.Mr. Copeland’s actual words were: “The workable political climate, combined with …
Energy costs hurt American mining
Denver — The collective effort of mining companies to cut costs and improve profits is being jeopardized by high power costs, particularly in the western U.S., where an emerging energy crisis is send…
Falco, union settle labour dispute
Peace has come to Ontario’s Sudbury nickel camp now that an agreement has been reached between Falconbridge and its unionized workforce to settle a strike that began Aug, 1, 2000.The agreement was rea…
Altius nabs more ground
Junior Altius Minerals (ALS-V) has added two properties to its promising exploration portfolio in Newfoundland.The Fortune Bay property covers 62 claims on the eastern side of the island. Localized sh…
Ivanhoe strikes South Korean gold
Four years of grassroots exploration in South Korea is paying off for Robert Friedland’s Ivanhoe Mines (IVN-T).Near Haenam Twp., in the province of Cholla, drilling outlined an epithermal vein system …
Cameco hit by weak uranium prices
Sagging spot prices for uranium eroded Cameco’s (CCO-T) bottom line in 2000.For the year, Cameco’s suffered a net loss, after special items, of $87 million (or $1.57 per share) on revenue of $689 mill…
Consortium offers US$17.6 billion for De Beers
The independent directors of De Beers Consolidated Mines (DBRSY-Q) have described as “fair and reasonable” a takeover offer by DB Investment (DBI), a consortium comprising the Oppenheimer family-run C…
Harmony’s Bissett under gun to cut costs
It’s crunch time for the Bissett underground gold mine in Manitoba as the South African-based owner appears to be running out of patience.Although it accounted for just 2% of Harmony Gold Mining’s (HG…
Indaba 2001 showcases Africa’s mineral potential
Cape Town, South Africa — The Investing in African Mining Conference (Indaba 2001), held here earlier this month, generated both optimism and pessimism among delegates weighing the continent’s minera…
Nickel division helps WMC triple earnings in 2000
Australia’s WMC wants to play a leading role in the rationalization of the world’s nickel industry.During a recent presentation to analysts and fund managers in Sydney, Australia, the day after the co…
A not-so-tiny bubble Reality bytes
In late January, about a hundred mining professionals gathered in a room in Toronto’s Sheraton Hotel to hear what Bay Street analysts and fund managers had to say about their industry’s future. Suffic…