Honourable mentions

CMJ‘s list of Top 40 Canadian Mining Companies generates more letters to the editor than any other single feature we publish. Often the writers complain that their companies deserve to be included. We want our readers to keep writing to us, but to forestall complaints, we are going to present honourable mentions: Denison Mines ($39.8 million revenue); Richmont Mines ($36.0 million); River Gold Mines ($35.4 million); Claude Resources ($27.5 million); Aurizon Mines ($24.5 million); and High River Gold Mines ($21.7 million).

Some companies did not qualify by our criteria for inclusion on this year’s Top 40 list, yet they bear watching for a number of reasons. Sherritt International had no Canadian mine production during 2000, but with its recent purchase of the Luscar Coal Income Fund, we might expect to add it next year. Highland Valley Copper, with revenues of over $350 million, could appear in the middle of the list. However, its results are included in those of owners Teck, Cominco and Rio Algom. So this year Highland Valley does not appear as a separate company. The recently announced merger of Barrick Gold and Homestake should give Barrick revenue a conspicuous rise that will boost the company on next year’s roster. The Canadian Oil Sands Trust might have made our list with its nearly $295 million revenue, but it derives its income from Syncrude, which has earned its own ranking. Canada’s steelmakers have interests in iron ore production in this country. These interests are generally not majority holdings, and since their primary business is not mining, they are excluded. The same rationale is used to exclude Alcan, known primarily as a smelting enterprise, and its more than $13.5 billion revenue.