Gold
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SURVEY: Gold prices and output to go higher in 2011, PwC
TORONTO – Despite the current strength in the price of gold, mining companies in Canada and globally are predicting high gold prices to continue throughout 2011, according to PricewaterhouseCoopers’ 2010 Global Gold Price Survey Report released…
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GOLD EXPLORATION: Bulk sampling begins at Rubicon’s Phoenix project
ONTARIO – Vancouver-based Rubicon Minerals has begun bulk sampling of the F2 gold system at its Phoenix project near Red Lake. The area from which the sample is being taken lies approximately 300 metres below surface and was defined by 18 drill…
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GOLD RESOURCE: Drilling allows Marathon to make initial Valentine Lake estimate
NEWFOUNDLAND – Marathon Gold Corp. of Toronto has made the initial measured and indicated resource estimate for its Valentine Lake gold project in the central part of the province. M&I resources are 3.3 million tonnes with a grade of 2.6…
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CORPORATE UPDATE: Agnico-Eagle future holds 1.5 million oz in 2014
TORONTO – Agnico-Eagle Mines is wrapping up a very successful 2010 and looking forward with anticipation to 2011 and beyond. The company expects gold production to increase 18% next year to between 1.13 million and 1.23 million oz of gold….
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PERSPECTIVE – Greens want Olympic Dam expanded without uranium recovery
SOUTH AUSTRALIA – The Australian Greens, that country’s political party of the environmental persuasion, wants BHP Billiton to expand its Olympic Dam copper-uranium-gold-silver mine but not mine the uranium component of the ore.
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COPPER-PGM TEST: Wallbridge prepares to bulk sample Broken Hammer in Sudbury Basin
ONTARIO – Toronto-based Wallbridge Mining has signed a bulk sampling contract with Technica Group of Lively, ON, to extract material from the Broken Hammer property on the North Range of the Sudbury Basin. Testing will confirm minability,…
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ZINC-COPPER MINING: HudBay outlines production, spending plans for 2011
TORONTO – HudBay Minerals is looking forward to next year with optimism and plans to produce between 70,000 and 90,000 tonnes of zinc plus 40,000 and 55,000 tonnes of copper. Reduced production at Trout Lake will be offset by a full year of…
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GOLD MINING: Operations resume at Holt mine
ONTARIO – Operations resumed Dec. 8 at St Andrew Goldfields’ Holt gold mine near Timmins following repairs to the shaft. A “significant” shaft incident occurred on Nov. 26 while a piece of equipment was being lowered. Shaft timbers were damaged…
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CAPITAL SPENDING: OMA outlines plans worth $8.5-B in Ontario
New mines and mine expansions are reinforcing the mineral sector’s role in the foundation of Ontario’s economy. Ontario’s economy is going through the pains of transformation as it moves from a manufacturing base to a service and knowledge…
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BENEFIT AGREEMENT: Barkerville, Lhtako Dene ink Bonanza Ledge pact
BRITISH COLUMBIA – Barkerville Gold Mines of Vancouver and the Lhtako Dene Nation (Red Bluff Indian Band) of Quesnel, BC. Have signed a project agreement covering Barkerville’s Bonanza Ledge gold property in the Cariboo Mining District.
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COPPER DEVELOPMENT: Rio Tinto to take over management at Oyu Tolgoi
MONGOLIA – Canadian company Ivanhoe Mines and Rio Tinto, domiciled in London, U.K., have reached an agreement making Rio Tinto the manager of Ivanhoe’s Oyu Tolgoi copper-gold mine development. In return, Rio Tinto will provide financing to…
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METALS PRICES: Gold price sets record high over $1,420
On Dec. 6 the price of gold on the New York exchange closed at an all-time high of US$1,423.70 an ounce. That’s wonderful, but in the two days that followed profit-taking left the price closer to the US$1,380 level at press time on Wednesday.