News

A net loss of US$15.4 million was reported by Hecla Mining (NYSE) for 1991, a downturn from 1990 when the company recorded net earnings of US$6.7 million. A loss of US$1.9 million on revenue of $27.3 …

Igneous Stone Corp., 50.1% owned by Black Cliff Mines (TSE), has entered into an agreement with an investor group whereby the group will provide $500,000 in equity financing which will be used to brin…

Canadian exploration expenditures totalled almost $800 million in 1990, compared with $828 million in 1989. A survey of companies carried out at the beginning of 1991 suggested that $646 million would…

MINE TAX RATES NOT CLEAR YET Changes in taxation on mining as the result of the tax deals made between the Dominion and the provinces are not yet clear. In principle it is proposed that the provinces …

On behalf of the Mineral Policy Sector and Energy Sector of Energy, Mines and Resources Canada, we are pleased to participate in the presentation of the annual mineral review and forecast in The North…

In 1991, industrial demand for platinum in the non-socialist world increased by more than 5% over 1990. Despite demand, prices hit a six-year low of US$330/oz on Dec. 30, trading below gold for the fi…

Silver prices trended downwards throughout the 1980s and reached a 17-year low of US$3.58/oz in February, 1991. Prices subsequently improved, due to strengthening demand and lower supplies, and averag…

MINING AND MILLING Bolter/Screener Miller Technology has developed an improved bolter-screener that will get its first production workout in Falconbridge’s Craig mine. A joint effort with Getman Corp….

Copper prices remained relatively strong during 1991. Despite some weakening of demand and an increase in supply, the market was buoyed by the threat of serious supply disruptions around the world. Pr…

The Canadian economy entered 1991 in a recession that was already nine months in duration. In general, the economy was characterized by high unemployment, low consumer and business confidence, weak co…

After a difficult year in 1990, the Canadian steel industry did not fully recover in 1991. At best, only eight blast furnaces were operating, compared with 10 as late as October, 1989. As a result, do…

Canada’s gold production, which increased rapidly during the 1980s, reached 5.7 million oz (177 tonnes) in 1991, compared with 5.4 million oz (167 t) in 1990. By comparison, production was 967,740 oz …