Orezone ties on to Sadiola
Ottawa-based Orezone Resources (ORZ-T) has picked up an option on the Kantela property, which adjoins the producing Sadiola Hill gold mine in western Mali.The deal, with a private syndicate, gives the…
AngloGold (Jerritt Canyon) Corp
Leadville Mining gains second Mexican gold play
Denver — After picking up a gold property in Sonora, Mexico, Leadville Mining & Milling (LMMI-O) has inked a deal for a second property, in the neighbouring state of Sinaloa.The company will earn a 5…
Market makes steep drop
Denver — The Dow Jones industrial average suffered a 2.8% drop, tumbling 300.42 points to 10,290.80 for the report period ended March 13, while the Nasdaq was off 8.6%.Spot gold on the Comex division…
Ashanti, AngloGold boost reserves at Geita
Geita District, Tanzania — Tanzania’s mining renaissance owes much to the pioneering spirit of Ashanti Goldfields (ASL-N) and AngloGold (AU-N), which set out, in the late 1990s, to broaden their oper…
AngloGold expands from South African base
When AngloGold (AU-N) was established in early 1998, it sought to transform itself from a company with aging South African mines and few growth opportunities into to a company with a broad portfolio o…
Gold reverses recent gains
Denver — The Dow Jones industrial average weakened slightly to 10,591.22, to finish the Feb. 28-March 6 report period down 45.66 points, or 0.4%, while gold gave up most of the previous week’s gains….
Sadiola Hill gold mine has record year
Western Mali’s Sadiola Hill gold mine, owned by AngloGold (AU-N), Iamgold (IMG-T), and the Malian government, has finished a record year of production.Sadiola poured 611,442 oz. gold in 2000, a record…
Writedowns translate into loss for Placer Dome
Vancouver — Placer Dome (PDG-T) felt the brunt of lower gold prices as US$377 million in writedowns pushed the company into the red during 2000.Despite record cash flow and operating earnings, the co…
South African output slides
Vancouver — Last year was not a memorable one for the world’s No. 1 gold-producing country. Low gold prices saw South Africa post its lowest annual output in almost 50 years.The country’s Chamber of …
Gold’s rise jolts miners to life
Denver — The Dow Jones industrial average fell 94 points, or 0.9%, for the report period ended Feb. 27 to close at 10,636.88, while the Nasdaq plunged 4.8% to 2,207.82, its lowest point in two years….
Record output spells profit for Normandy
Australia’s largest gold producer, Normandy Mining (NDY-T), turned a profit of A$62.6 million (US$34.7 million), or A3.5 per share, for the six months ended Dec. 31, 2000, on the back of 1.1 million …
AngloGold posts profits before writedowns
Denver — While gold production edged up and costs declined slightly in the fourth quarter, AngloGold (AU-N) recorded a profit of US$84.6 million before a writedown of US$92.9 million. The net loss fo…