Mining industry
Canadian company Asia Minerals Corp. has signed a contract to establish China's first gold-mining joint venture, marking a significant milestone in the country's gold rush. The agreement between Asia Minerals and Shandong Zhaoyuan Gold Industrial Group would see the Canadian firm invest $36 million in two
Mining industry
Puma Minerals Corp. is pleased to announce that drilling has resumed on the El Salado property, located in the northern part of the 400,000 hectare Uspallata Project in Argentina. The company is exploring for large copper-gold deposits in the Uspallata Copper-Gold Porphyry Belt, a region that has shown promising
Mining industry
Toronto-based Inmet Mining Corp., led by President Klaus Zeitler, is set to increase its gold production threefold to nearly 400,000 ounces over the next few years, as the company expands its interests in copper and gold projects worldwide. With its annual gold production currently standing at 134,000 ounces,
Mining industry
Big Valley Resources has reported positive assay results from ongoing diamond drilling and trenching on its Lloyd-Nordik property in Canada. The company, led by President Lloyd Tattersall, has seen significant copper and gold mineralization in the Lloyd 2 target area, with drill hole 94-12 representing a step-out of approximately 120
Mining industry
Eldorado Corporation Ltd., a major player in the mining industry, has strengthened its position in Treminco Resources Ltd. through a private placement, increasing its beneficial ownership to up to 16.87% of Treminco's issued capital. This acquisition is part of Eldorado's strategic investment in Treminco, which
Mining industry
Indonesian President Suharto has defended the extension of Freeport McMoran's work permit in Irian Jaya, citing the company's significant investment and revenue contribution to the country. Despite criticism from environmentalists, who claim that the mining activity is causing massive damage to the region's ecology,
Mining industry
Atlas Corporation, a leading industrial mining company, has taken a significant step into the world of industrial minerals by purchasing a 51% stake in Phoenix Financial Holdings Inc., a Canadian holding company. The acquisition, worth $1.3 million, grants Atlas board control, with David J. Birkenshaw, Atlas' Chairman and
Mining industry
Lloyd Tattersall, President of the Company, has announced the identification of a fifth exploration target on the Lloyd-Nordik copper-gold property in British Columbia. The Lloyd 4 target is a large magnetic high coincident with a copper-gold soil anomaly, and preliminary trenching indicates that the source of the anomalies is a
Mining industry
Hecla Mining Company, in a move to restructure its troubled Grouse Creek mine, has announced a $97 million nonrecurring asset writedown in its third quarter results. The mine, a joint venture between Hecla and Great Lakes Minerals Inc., has encountered significant shortfalls in ore tonnage and gold grade, leading to
Mining industry
Canyon Resources Corporation, a Colorado-based mining company, reported a significant decline in earnings in the third quarter of 1995. The company announced a loss of $1,250,500, or 5 cents per share, for the quarter ended September 30, 1995, compared to earnings of $632,200, or 2 cents per
Mining industry
Freeport-McMoRan Copper & Gold Inc. has announced a change to its New York Stock Exchange ticker symbol for its Class B Common Stock, which will become "FCX" on Monday, November 13, 1995. This change is intended to facilitate coverage of the company's activities by the investment
Mining industry
Atlas Corporation has made significant moves in advancing its Gold Bar Project in Nevada, signing a letter of intent with Brown & Root for contract mining services and guaranteeing a portion of project financing. This development marks a crucial step in the project's progress, enabling Atlas to focus
