Phelps Dodge beats estimate
Phelps Dodge (PD-N) posted better-than-expected second-quarter earnings of US$4.5 million (or 66 per share) before restructuring charges and non-recurring items of US$52 million.In late June, the com…
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Barrick
Rex Diamond Mining (RXD-T) and De Beers Consolidated Mines (DBRSY-Q) have signed a preliminary agreement to explore the Akchar permit in Mauritania, northwestern Africa.For more than three years, Rex …
San to drill near Bissett
Winnipeg-based San Gold Resources (SGR-W) has launched a major exploration program on its property near the producing Bissett mine in northern Manitoba.The $500,000 program will consist of basal till …
News – 31-JUL-00 (July 31, 2000)
Mentor steps up work in Quebec
Armed with more than $10 million in working capital, Mentor Exploration & Development (MV-T) has acquired three gold projects in northern Quebec.About $400,000 will be spent this year on the Lac Corve…
Las Cristinas hurts Placer’s performance
Burdened with a US$116-million writedown on the Las Cristinas property in Venezuela, North America’s third-largest gold mining company posted a loss in the second quarter.”Writing off Las Cristinas hu…
Inmet stays profitable in second quarter
Continued strong earnings from its Cayeli mine in Turkey allowed Inmet Mining (IMN-T) to post earnings of $2 million, or 3 per share, on revenue of $24.9 million in the second quarter.The profit was …
FIFTY YEARS AGO–AUGUST 1950
Record demand for yellow metalFear of escalating inflation, combined with the ongoing Korean War, has created record demand for the yellow metal in the Far East, Western Europe and India.In Hong Kong,…
Emerald’s winning crew
They say people make the world go round, and this was indeed the case at the Emerald lead-zinc-silver mine, near Salmo, British Columbia.In the first instance, returning war veterans filled the ranks …
Inco posts US$148m profit in 2nd quarter
Thanks to much stronger prices for nickel and platinum group metals (PGMs), Inco (N-T) has recorded its best quarterly performance in years, bagging a net profit of US$148 million (US70 per diluted s…
Bulk mining explored
The future of bulk mining will be addressed at MassMin 2000, a conference slated for Oct. 30-Nov. 2 in Brisbane, Australia.Bulk mining refers to any large-scale, mechanized method of mining massive un…
Billiton gains stake in CVRD
London-based Billiton will pay US$327 million to acquire an indirect 2% stake in Companhia Val do Rio Doce (CVRD), the Brazilian iron ore and aluminum group, at a 50% premium to the current market pri…