Kinross eyes Kubaka lookalike in Russia
A blind discovery in the Magadan region of northeastern Russia is looking more and more like the producing Kubaka gold deposit.Kinross Gold (K-T), which holds 54.7% interests in both projects, is unde…
News
De Beers homes in on diamond retail market
Diamond kingpin De Beers Consolidated Mines (DBRSY-Q) is teaming up with France’s LVMH Moet Hennessy Louis Vuitton to form an independently managed company that will develop and sell De Beers’ branded…
Phelps Dodge warns of production cuts
Denver — Phelps Dodge (PD-N) has alerted employees at operations in Arizona and New Mexico to the possibility of shutdowns caused by higher energy costs in California.Electricity costs hit US11 per …
News – 05-FEB-01
Golds tank again on price slide
The Toronto Stock Exchange was modestly higher over the trading period Jan. 24-30, avoiding the wild mood swings it had experienced in December, despite seeing relatively heavy trading. The TSE 300 co…
Industrial minerals sale hits snag for Hecla
Denver — Hecla Mining (HL-N) has filed suit in U.S. federal court against Toronto-based Zemex (ZMX-T) for refusing to close on the agreed-upon transaction to buy Hecla’s industrial minerals subsidiar…
Temex active at Temagami
Toronto-based Temex Resources (YTM-V) has raised more money to explore various projects in Ontario’s Temagami region.The company has privately placed, with the Contrarian Resource Fund 2000, 562,500 u…
And the winner is . . .
Among the more popular awards programs is the “Grammys,” presented annually by the U.S.-based National Academy of Recording Arts and Sciences for outstanding achievement in various categories in the r…
Rio Tinto OKs Northparkes
Denver — London-based Rio Tinto (RTP-N) has approved development of the Lift 2 project at the Northparkes copper-gold mine in New South Wales, Australia.Construction of the A$139-million project will…
Trail reduces zinc output
The Waneta Dam, on the Pend Oreille River, near Trail, B.C., is becoming a cash cow for Cominco (CLT-T). The zinc producer has been selling excess power to utilities and other customers in the wake of…
Grasberg mine a star performer for Freeport-McMoRan
Denver — Higher grades and better recovery rates at the giant Grasberg operation in Irian Jaya, Indonesia, resulted in a record- setting fourth quarter for Freeport-McMoRan Copper & Gold (FCX-N).Copp…
Plus a change, . . . Chaos in the Congo
The Democratic Republic of Congo (DRC), formerly Zaire, is aptly described as one of the most chaotic and corrupt nations in Africa. It was that way when rebel leader Laurent Kabila seized control fro…