Ajo copper mine to undergo improvements
Phelps Dodge (PD-N) will reopen the Ajo copper mine in southwestern Arizona.The company plans to spend US$238 million to refurbish the former open-pit operation. Construction is scheduled to begin ear…
1997
Aurizon shelves Vior’s Douay-Ouest — Reports $344,000 loss for first quarter
Citing low gold prices, Vancouver-based Aurizon Mines (ARZ-T) is delaying the development of Vior Mining Exploration’s (VIO-M) wholly owned Douay-Ouest property.The property is 50 km north of Aurizon’…
Barrick works to upgrade Diablillos project in Argentina — Company shares indirect interest in gold-silver project with Pacific Rim Mining
In an attempt to increase the resource of the Oculto gold-silver zone, Barrick Gold (ABX-T) has completed an 8,000-Metre drill program on the Diablillos property in the northwestern Argentine province…
Kenrich explores near Stewart, B.C.
Kenrich Mining (KRC-V) is carrying out a $1.6-Million exploration program on the Corey polymetallic property in northern British Columbia.Plans call for an airborne geophysical survey to be flown over…
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 (…
Newmont receives approval for Batu Hijau
The government of Indonesia has granted Newmont Gold (NGC-N) a construction permit for the Batu Hijau copper-gold project on the island of Sumbawa.The last week has been a tense one for the Denver-bas…
Brandon gains option in Mexico
Brandon Gold (BG-V) can earn up to a 60% interest in the Guerrero concession, in the southern Mexican state of Guerrero.Under an agreement with Miranda Mining Development and Mexican-based Miranda Roy…
Canarc hits high grade in Suriname
Canarc Resource (CCM-T) has intersected high-grade gold mineralization in two separate areas on the Sara Kreek property in Suriname.Highlights of the recent phase-2 program include: hole EB-9705, whic…
Noranda signs on with Aripuana juniors — Major joins Ambrex, St. Genevieve and Ourominas in Brazil
The Aripuana base metals project in Brazil has attracted the attention of a Canadian major.Noranda (NOR-T) has signed a letter of intent to invest up to $28.9 million in Aripuana in order to gain up t…
LETTERS TO THE EDITOR — Let’s put Bre-X behind us
Considering that the Busang deposit of Bre-X Minerals is a bust, it is important for investors everywhere to reflect on a number of truths about the Canadian mining industry:* Mining helped found Cana…
Russian gold output slides as costs mount
Russian gold production is on the wane as a result of tension between industry and the government, according to the head of an association of prospectors in the country.Viktor Tarakanovsky of the Unio…
STOCK MARKETS — Vancouver market comes out ahead as Alberta follows suit — Some Indonesia explorers gain ground; American Bullion questioned for poor showing
The Vancouver Stock Exchange posted its first winning week in six weeks, rising 32.82 points to close at 1,045.67 points for the report period ended May 13.The Alberta exchange rose 73.31 points to cl…