Exchange Rates (October 22, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateOct. 16Oct. 15Oct. 12Oct. 11Oct. 10US$ in C$1.56191.55791.56…
2001
Antamina producing ahead of schedule
With base metal prices at multi-year lows, this is not a good time to be coming to market with new production. Nonetheless, the huge Antamina copper-zinc project in Peru achieved commercial production…
Gold industry needs to develop markets
For four weeks now, we have been seeing the Friday Effect: the gold price goes up in anticipation of military action on the weekend, and gold shares rise along with it. The old “safe haven” theory app…
News – 22-OCT-01
PEOPLE (October 22, 2001)
First Quantum — William Blamires appointed interim CEO.Plexmar — Guy Bedard appointed president and director.Seahawk — Louis Lepry appointed president.Wheaton River…
Gary Turcott
Gary Turcott, a former professor at Cambrian College in Sudbury, Ont., and sales manager for Varel Canada, has died. He was 67.Turcott was born in Flin Flon, Man., in 1934. He later moved with his fam…
Estimation Guidelines committee off and running
An Estimation Guidelines committee led by the Canadian Instiute of Mining, Metallurgy and Petroleum (CIM) and created as a result of recommendations of the Mining Standards Task Force is busy preparin…
NAME CHANGES (October 22, 2001)
Spokane Resources (SKN-V) has changed its name to SKN Resources (SRL-V) on a 1-new-for-10-old share basis.Lucero Resource (LCR-V) has changed its name to Squared Developments…
Falconbridge in red, suspends Falcondo (October 22, 2001)
Low base metal prices have forced Falconbridge (FL-T) to suspend production at its Falcondo operations in the Dominican Republic.The 3-month shutdown took effect Oct. 21, with the 2001 production fore…
High times for copper
For the fifth straight year, copper usage in the U.S. reached record levels.Preliminary data indicate that total usage levels in 2000 were nearly 1% higher than in 1999, a year in which U.S. end use r…
Aurora cuts Lansdowne House reef
Vancouver — Junior Aurora Platinum (ARP-V) has discovered reef-style platinum-palladium mineralization at the Lansdowne House property, northeast of Thunder Bay, Ont.Hole 21, collared 120 metres of t…
Freeport hits lowered profit target (October 22, 2001)
Vancouver — At a time when Afghanistan is being bombed and Muslim fundamentalists are calling for a “holy war” against the U.S., it must be a tad unsettling for an American-based mining company to ha…