Phelps Dodge slashes production (July 12, 1999)
Following a host of mine closings in the copper industry, Phelps Dodge (PD-N) has announced production cuts and restructured its wire and cable business.The Phoenix, Ariz.-based company plans to decre…
Highland Valley Mine
BASE METALS — Foran expands McIlvenna Bay deposit — Exploration program targets gold-rich portion of stockwork
With an infill drilling campaign nearing completion, Foran Mining (FOM-V) is beginning a program of stepout work in an attempt to boost the tonnage of the McIlvenna Bay zinc-copper-gold deposit.The 13…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Sagging gold prices fall below US$273 per oz.
Gold prices just kept dropping during the May 12-18 report period, plunging another $5.15 to reach a 20-year low of US$272.85 per oz. on the London morning fix of May 19.For a second consecutive week,…
Cominco looking for new deal at Highland
The Highland Valley copper mine in southern British Columbia will close its doors on May 15, unless the owners can negotiate significant wage and power concessions to keep the mine operating profitabl…
Rio boosts production, cuts costs
A 50% increase in copper production and an 18% reduction in cash costs helped Rio Algom (ROM-T) stay in the black last year despite a 29% drop in the average price of the red metal.The major reported …
Strong quarter buoys Cominco
Despite strong fourth-quarter operating results, Cominco Ltd. (CLT-T) ended 1998 in the red. The chief obstacles to profitability were low metal prices and the operating performance of the Kivcet lead…
Highland Valley falls victim to low metals prices
The Highland Valley copper mine in the Kamloops region of British Columbia is the latest casualty of poor commodity prices.The major decline in world copper prices over the past 18 months has forced t…
MINING MARKETS & INVESTMENT NEWS – EASTERN MARKETS — Deadly copper price snuffs out Highland Valley mine
The biggest story during the report period ended Jan. 19 was the announcement that the low-grade, high-tonnage Highland Valley copper mine in British Columbia would close in May.The decision was made …
Cominco suffers loss in third quarter
Low metal prices, a weaker Canadian dollar and an operating loss at its Trail production facilities in southeastern British Columbia all contributed to a less-than-stellar third quarter for Cominco (C…
BASE METALS — Rio Algom forges ahead in copper quest
Once known principally for its production of uranium, Rio Algom (ROM-T) is steadily earning a reputation as a major producer of copper.Last year, while addressing shareholders at the company’s annual …
N.B. conference to focus on environmental practices
A conference focusing on environmental practices at Canadian mining operations will be held at the Hotel Beausejour in Moncton, N.B., from Sept.25 to 26.Entitled “Green Challenges at Mining Sites,” th…
Copper, lead prices affect Cominco’s earnings
While zinc prices were robust during the first quarter, copper and lead prices were not, resulting in a moderate decrease in earnings for Cominco (CLT-T).The company reported a profit of $21 million (…