NEWS ROUNDUP — Osito to drill in Costa Rica
A 300-metre drill program is planned for the Turin property in Costa Rica. Owner Osito Ventures (VSE) plans to drill-test previously identified gold mineralization. Three epithermal vein systems have …
News
Metal prices boost Asarco earnings
Higher metal prices and reduced operating costs contributed to improved year-end results for Asarco (NYSE). Asarco earned US$64 million (or US$1.53 a share), compared with US$15.6 million (or US38 cen…
Arequipa’s Peru assets interest anonymous major
An unnamed “major international mining company” intends to earn a 60% interest in five of Arequipa Resources’ (VSE) copper porphyry prospects in Peru. (The major asked Arequipa not to disclose its ide…
OroGrande interested in Brazil
Alberta-listed OroGrande Resources, formerly known as Trev, intends to acquire an 80% interest in the Princeza gold mine property in Brazil’s Paraiba state. The junior will spend $3.3 million and make…
Copper, molybdenum prices boost Cyprus Amax earnings
Higher molybdenum and copper prices last year enabled Cyrus Amax Minerals (NYSE) to report earnings of US$175 million (or US$1.69 per share) on revenues of US$2.8 billion. That compares with earnings …
MINING IN AFRICA SPECIAL — Mali called “Treasure of West
Mali has been called “West Africa’s ancient treasure chest,” and for good reason. Gold made the ancient empire of Mali one of the wealthiest in the world, and three great empires ruled in its territor…
MINING IN AFRICA SPECIAL — Mutual’s land holdings in West
Ghana (1) Tarkwa: 220-sq.-km concession, operating underground mine with exploration in the south for surface mines. An extensive 50,000-metre drilling program is under way consisting of 24 surface ho…
MINING IN AFRICA SPECIAL — St. Genevieve acquires gold
Montreal-based St. Genevieve Resources (TSE) has acquired the Jean-Gobele gold property in Guinea, West Africa. The transaction appears to be a coup for the junior as the property already hosts a pote…
MINING IN AFRICA SPECIAL — African Minerals eyes Zambian
Privately owned African Minerals is planning to go public with mineral projects acquired or optioned in emerging countries of Africa. Zambia and South Africa were chosen as bases of operations because…
Skyline to develop Bronson Slope
Drilling will resume in the spring on Bronson Slope in the Iskut River district of northwestern British Columbia. Bad weather in late 1994 forced International Skyline Gold (TSE) to suspend drilling a…
MINING IN AFRICA SPECIAL — Etruscan upbeat on Koma Bangou
Following reverse-circulation (RC) drilling and trenching on the Koma Bangou gold project in Niger, Etruscan Enterprises (VSE) is optimistic about increasing reserves. The 31,000 ft. of drilling and 9…
COMMENTARY — Watching the `Tequila effect’
We have seen extensive coverage recently in the financial press of the economic — and social — problems in Mexico. In late December, after months of building pressure, the new Mexican government of …