The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 15 of 15
Sherwood Copper Corp. and Capstone Mining Corp. Sept. 8 said they signed a letter of agreement to combine their operations to create a copper mining company with two producing mines in mining-friendly jurisdictions in North America. The two companies agreed to combine on an "at-market" basis with Sherwood shareholders receiving 1.566 shares of Capstone for each share of Sherwood stock. The boards of directors of Sherwood and Capstone unanimously approved the transaction. Called a true merger by Sherwood President and CEO...
Mantra Mining Inc. became a major mineral property landholder in Alaska literally overnight when it agreed to purchase more than 485,000 acres of mining claims from NovaGold Resources Inc. and Rio Tinto PLC. In a C$20 million deal Mantra bought NovaGold's interest in six western Alaska projects including its option agreement to earn a 51 percent interest in the Ambler project about 290 kilometers, or 180 miles, southeast of the Red Dog zinc mine. Mantra has agreed to pay $29...
Laura Skaer, executive director of the Northwest Mining Association, recently told miners in Nevada that the November general election will have major significance for U.S. miners with the election of a new U.S. president and a new Congress. In a presentation to the Nevada Mining Association convention at Lake Tahoe, Skaer said the bad news for mining is that key western senators, supportive of the domestic mining industry are retiring including powerful New Mexico senator Pete Domenici, Colorado Republican U.S. Senator Wayne...
Some Alaska regulators are expressing concerns about a proposal to build a 55-mile pipeline to discharge wastewater from the Red Dog zinc-lead mine in Northwest Alaska. The proposed pipeline, one of the items included in a lawsuit settlement between Teck Cominco Alaska Inc. and six residents of the village of Kivalina, would discharge treated wastewater from Red Dog, the world's largest zinc producer, directly into the Chukchi Sea, bypassing Red Dog Creek which flows into the...
With termination dust settling ever lower throughout Alaska, the bulk of the 2008 exploration season has been completed, but lots of results are still pending from projects around the state. As the exploration industry winds down, the Rock Creek gold mine started production bringing owner and operator NovaGold Resources Inc. its first operating mine and bringing Nome its first modern lode gold mine. While this was going on in our backyard, the financial markets were starting...
Is there anyone anywhere who was caught by surprise by the domestic financial crunch that has recently occurred? Those of us who aren't players in world economics have watched the symptoms develop for several years. When commodities move up in lockstep, it doesn't mean their value is increasing, it simply means that the currency in which that value is expressed has dropped. When money, as a commodity is cheap, it is symptomatic of a problem with the money system. When...
Uravan Minerals Inc. and Cameco Corp. Aug. 27 said they recently completed a multi-faceted surface sampling program on the Boomerang North Uranium Project, in Southwest Thelon Basin, 300 miles east of Yellowknife, Northwest Territories. Project operator Uravan granted Cameco an option to earn 60 percent interest in the Boomerang uranium property in exchange for C$10 million in aggregate funding. The exploration program consisted of sampling about 600 square kilometers of surface soil and vegetation covering the Boomerang...
HOWARD'S PASS, Yukon Territory - In this wide, alpine valley that snakes across the border into the Northwest Territories at its southeastern tip, one of the world's largest zinc-lead-silver properties may slumber. First drilled by a joint venture between Placer Dome and Cygnus Mines Ltd. in the 1970s and 1980s, the mineralized zones here are strung along 65 kilometers, or 40 miles. Junior Selwyn Resources Ltd, formerly Pacifica Resources Ltd., believes the property contains more than the 500 million metric tons of indicated...
Ontario-based YOW Capital Corp. is taking a fresh look at the Caribou Dome high-grade copper property in Southcentral Alaska, about 160 miles, or 257 kilometers, northeast of Anchorage. Caribou Dome was known as the Denali copper prospect when it was staked in 1963 for Leo Mark Anthony, owner of C-D Development Corp. An extensive exploration program carried out from discovery until 1971 outlined a high-grade copper deposit on the property, but due to the fine-grained nature...
Selwyn Resources Ltd., the Vancouver, B.C.-based junior that owns the giant zinc-lead property also called Selwyn in the eastern Yukon and southwestern Northwest Territories, says the project is perfectly poised to meet future market demand. Though zinc prices are currently depressed, prospects for a long-term shortfall in zinc supply beginning in 2010 continue to strengthen. Expecting this shortfall, Selwyn's managers are considering various options for advancing development and production of the Selwyn Project, including...
We feel strongly that an informed public is an empowered public," the Keystone Center said in an early September report that attempts to identify the principle issues people have raised in regard to the proposed Pebble mine and to evaluate the desirability and feasibility of a process to discuss and possibly address those issues. Keystone was hired by the Pebble Partnership to assist it in developing the huge copper-gold-molybdenum Pebble deposit in Southwest Alaska into a...
Coeur d'Alene Mines Corp. has terminated a permitting process for building a paste tailings facility for the Kensington gold mine project, which is located 45 miles north-northwest of Juneau. The decision, which leaves the company relying on the U.S. Supreme Court to uphold the Southeast Alaska mine project's original tailings disposal permit, came after the U.S. Environmental Protection Agency issued comments Sept. 16 on the draft Environmental Assessment for an alternative...
BHP Billiton has completed an ownership transfer of the Iliamna property in Southwest Alaska to TNR Gold Corp. and Geocom Resources Inc. in early September. Two weeks later, TNR incorporated a new subsidiary in Alaska, Bristol Explorations Co., Inc., which has taken over TNR's properties in Alaska, including the Iliamna and Shotgun projects. Bristol will focus on developing and exploring TNR's Alaska ventures, TNR said in a Sept. 17 statement. The new entity, working with Geocom, has completed a $75,000 geochemical sampling...
Redcorp Ventures Ltd. and subsidiary Redfern Resources Ltd. said holders of more than the required two-thirds of the company's 13 percent senior secured notes have agreed to certain amendments to the note terms between the junior mining company and CIBC Mellon Trust Co. The proposed amendments will give Redcorp access to about $200 million in capital to be used to develop the Tulsequah Chief Mine Project to commercial production. Gold Wheaton Gold Corp. will provide $90...
NovaGold Resources Inc. experienced more than a 30 percent drop in stock value when the Vancouver B.C.-based junior reported it is selling more than 485,000 acres of its non-core mining assets in Alaska, and that sale of the entire company is one of the options managers are considering as a "strategic alternative to maximize shareholder value." "We just wanted to signal to the market that we think we are really undervalued here. These assets are high-quality assets in a low...
