Anglo find fails to launch Philippine flurry
Vancouver — Mining companies willing to face considerable political risks have been rewarded with impressive exploration results in the Philippines. However, advancing discoveries to the development …
Anglo American Platinum Limited
Sudbury PGM play enters new phase
Though nowhere near last year’s record highs, palladium is still trading at three times the historical range, and that bodes well for a group of companies exploring for platinum-group-metal (PGM) depo…
New sulphide prospect at Aripuana
Drilling by Anglo American (AAUK-Q) to test an electromagnetic conductor on the Aripuana property in northern Mato Grosso state, Brazil, has intersected sulphide mineralization along strike from two z…
De Beers saw diamond sales shrink in 2001
De Beers saw its profits halved in 2001 as the global economic downturn took its toll on rough diamond sales.The major’s core business is the mining and marketing of rough gem diamonds. Hampered by th…
Barrick to halve hedge book
With fewer writedowns and a merger under its belt, Barrick Gold (ABX-T) finished 2001 with modest earnings in contrast to the loss it took in 2000. But the big gold producer had other news to deliver:…
BHP Billiton knocks down Tower
BHP Billiton (BHP-N) is closing the Tower coal mine in New South Wales, Australia, as part of an ongoing effort to cut costsTower is one of four underground mines that constitute the Illawarra operati…
Newmont rises to the top
The volume leader among all the miners during the report period was Newmont Mining, which finally won control of both Normandy Mining and Franco-Nevada Mining, making it the the world’s largest gold m…
Major General plans diamond spinoff
With 42.1 million shares currently issued, Major General Resources (MGJ-V) intends to spin off its diamond properties into a new company and undergo a 3-for-1 stock rollback.Shareholders of Major Gene…
Ontario exploration intensifies
Ontario exploration and deposit appraisal expenditures for 2001 are expected to continue the ascent started in 2000.Spending is expected to climb to $99 million in 2001, an increase of 10%. The upward…
Phelps Dodge bleeds red
The world’s second-biggest copper producer, U.S.-based Phelps Dodge, was the newsmaker of the week as it posted a US$275-million loss in 2001 on revenue of US$4 billion, compared with US$29 million ea…
Lonmin pitches tent in Sudbury camp
London-listed Lonmin has inked a deal with Wallbridge Mining (WM-T) to explore several of the company’s magmatic sulphide properties in the Sudbury basin of Ontario.The deal covers 19 projects and cal…
Mixed week in US trading
In the face of declining base and precious metals, a number of U.S.-listed mining majors still managed to trade higher over the report period, as investors showed interest in old-economy cyclicals.BHP…