EDITORIAL PAGE — The great Canadian way
The town of Cobalt, a quiet hamlet today, is said to be the cradle of Canadian mining. True, the discovery of nickel in Sudbury preceded development of the Cobalt silverfields (and to this day, Sudbur…
News
Metals in decline — Canada’s mineral value rises in 1993
In 1993, the value of Canada’s mineral production increased by 1.9%, or about $700,000, from the previous year. Preliminary estimates by the federal Department of Natural Resources indicate that the v…
African potential focus of forum
Mining investment opportunities in Africa will be the focus of a conference June 6-8 in Denver, Colo. Mines ministers from about 15 countries in sub-Saharan Africa are expected to attend. Organized by…
COMMENTARY — CANMET assists Selbaie, Dickenson
To ensure the stability of their copper-zinc mining project, operators of Les Mines Selbaie in northwestern Quebec are monitoring excavations with time domain reflectometry (TDR). The cable-testing te…
STOCK MARKETS — Despite pre-budget jitters, western markets
Trading activity remained relatively steady on western markets over the week, despite nagging uncertainty about interest rates and the fate of the looney. Adding to the unease was speculation about a …
Spot prices at a glance (February 21, 1994)
Week’s Price (US) Change Gold* $383.60 + $3.35 Silver* $ 5.25 $0.00 Platinum* $400.00 + $10.50 Nickel** $ 2.61 + $0.01 Lead** $ 0.21 – $0.01 Copper $ 0.85 + $0.01 Zinc $ 0.43 – $0.01 Courtesy of Scoti…
Hecla opens Mexican mine
The tequila was flowing as Mexican civil servants joined managers of Hecla Mining (NYSE) to cut the ribbon on La Choya, a new gold mine in Sonora state. Situated 30 miles south of the U.S. border, the…
Lac recovers bodies of trapped miners
The bodies of two miners, trapped underground for more than two months at the Macassa gold mine near Kirkland Lake, Ont., have been recovered. The bodies of Robert Sheldon, 34, of Larder Lake, Ont., a…
NEWS ROUNDUP — American Bullion to explore Red Chris
American Bullion Minerals (VSE) has raised $5 million to explore and develop its Red Chris porphyry copper-gold project in northwestern British Columbia. The funds came from a brokered private placeme…
PEOPLE — IGF METALS (February 21, 1994)
Patrick Cheung appointed president, chief executive officer and director; Robert Ching, Arnold da Silva and Wing Shun Leung appointed directors.
Weak prices hurt Noranda
Weak metals prices and production cutbacks took their toll on Noranda (TSE), which lost $37 million in 1993, compared with net earnings of $79 million in the previous year. Earnings from mining and me…
PRODUCER PRICES (February 21, 1994)
ALUMINUM: MW U.S. market US59.50-62.00 cents per lb. (Feb. 3, 1994). ANTIMONY: MW New York dealer US76-80 cents per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.65 per lb. (Sept. 23, 199…