Three aluminum giants enter into merger
In the biggest cosolidation move yet in the international aluminum industry, Alcan (AL-T) is taking the lead in a merger with two large European aluminum producers.The Montreal-based company announced…
1999
George Lake project gets new lease on life
Unable to go it alone, Kit Resources (kit-) has enlisted the aid of Kinross Gold (K-T) to develop its George Lake gold project near Bathurst Inlet in Nunavut.Touted as one of the largest undeveloped p…
Ecuadorian hits high grade at Beroen
Junior Ecuadorian Minerals (EMC-T) has intercepted high-grade gold-silver values at the Beroen project in southwestern Ecuador.Results from the first four holes drilled on the Alejandra breccia encoun…
METAL PRICES (August 09, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateAug. 3Aug. 2July 30July 29…
OBITUARY (August 09, 1999)
Georges DumontGeorges Dumont, one of the country’s premier minefinders, has died in Val d’Or, Que. He was 87.Born in St. Anselme, near Quebec City, in 1911, Dumont graduated with a degree in engineeri…
Meetings (August 09, 1999)
Aug. 3 Golden SitkaAug. 3 Redbird GoldAug. 4 BarraAug. 5 Flame Petro-MineralsAug. 5 Int’l DunlapAug. 5 IrianaAug. 6 Cons. BeaconAug. 6 Oliver GoldAug. 6 TrincanaAug. 9 CypressAug. 9 Northern StarAug. …
Hedging keeps Cambior in black
Despite lower production, Montreal-based Cambior (CBJ-T) remained in the black during the second quarter, owing to a successful gold-hedging program.The company earned US$100,000 on revenue of US$80 m…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — VSE loses more steam over holiday-shortened period — Winspear still volatile following Snap Lake results
The Vancouver Stock Exchange composite index slid 3.62 points, or 0.9%, to finish the holiday-shorted week ended Aug. 3 at 415.15. The mining index added 1.59 points, or 0.6%, to close at 275.33.Meanw…
Agnico-Eagle mired in red ink
Agnico-Eagle Mines (AGE-T) racked up more losses during the second quarter, due in large part to falling gold and copper production from its Laronde mine in northwestern Quebec.During the second quart…
DIAMOND PAGE — SouthernEra remains in the black
Higher production at the Marsfontein diamond mine in South Africa kept SouthernEra Resources (SUF-T) profitable in the second quarter.During the three months ended June 30, the diamond miner earned $1…
DIAMOND PAGE — Archangel, Russian partners end dispute
A settlement has been reached in the 18-month-long dispute between Archangel Diamond (AAD-V) and its Russian partners over ownership of the Verkhotina diamond property in northwestern Russia.The settl…
Camnor drilling at Cirque
Partners Camnor Resources (CMB-V) and Oromin Explorations (OME-V) have launched a US$125,000 diamond drill program at the Cirque volcanogenic massive sulphide (VMS) property, 60 miles south of Fairban…