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Articles written by Gary Park

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 By Gary Park    News

Bre-X trial enters final stages

A decade after more than C$6 billion in shareholders' value evaporated and six years after a court trial began, what has been described as the world's largest mining scandal has entered its final legal proceedings. By early September... — Updated 8/27/2006

 
 By Gary Park    News

British Columbia mining sector has best showing in decades

British Columbia is reveling in a mining boom without parallel in more than three decades, according to a report by PricewaterhouseCoopers. Powered by higher metals and coal prices, reflecting the strong demand for commodities, and an in... — Updated 5/22/2005

 
 By Gary Park    News

Northern Manitoba newest diamond hot spot

The hunt for diamonds is undergoing a reawakening in Manitoba, four years after the first wave of explorers failed to locate kimberlite. The province's far north has attracted interest from De Beers Canada, which has collected... — Updated 5/22/2005

 
 By Gary Park    News

Yukon exploration spending to double

Exploration spending on Yukon mines is forecast to double this year from 2004 to about C$40 million, according to an exploration and development survey by the British Columbia and Yukon Chamber of Mines. The greatest push is coming from... — Updated 5/22/2005

 
 By Gary Park    News

De Beers gives green light to mine

The road has been cleared for Canada's latest diamond mine, with South African gem giant De Beers giving its final go-ahead for the C$636 million Snap Lake project. In the planning and development stages for several years, the mine is sc... — Updated 5/22/2005

 
 By Gary Park    News

Asian boom stokes Canadian coal sector

Coal is king again in Canada as producers scramble to increase their output to take advantage of new clean-coal technologies and to meet surging demand in Asia. Natural Resources Minister John Efford believes coal will be at the... — Updated 4/24/2005

 
 By Gary Park    News

Natural gas pipelines could hold promise for molybdenum miners

The multi-billion dollar plans for northern gas pipelines could generate some profitable spin-offs in the mining sector. The Arctic lines will create a heavy demand for molybdenum, which enables high-value steel alloys to withstand... — Updated 4/24/2005

 
 By Gary Park    News

Former Bre-X geologist surfaces at Ontario securities trial; says he will 'clear my name'

John Felderhof is unyielding in his belief that the Busang mining lease in Indonesia - the core of history's biggest mining fraud - holds a "substantial gold resource." Emerging from his home in the Cayman Islands, the Dutch-born... — Updated 3/27/2005

 
 By Gary Park    News

Baucus riles B.C. on coal, lumber, beef

Max Baucus, the five-term Democratic U.S. senator from Montana, has found another issue to reinforce his reputation as the biggest American burr under British Columbia's saddle. Already well known for his advocacy of bans on U.S.... — Updated 3/27/2005

 
 By Gary Park    News

NWT struggles to find buyer for plant

The Northwest Territories government has been forced to resume its search for a buyer to take over its troubled diamond cutting and polishing plant. Hopes that the Lev Leviev Group of Cos. would take over the operation collapsed earlier... — Updated 2/27/2005

 
 By Gary Park    News

Mining at 'tail-end' of cyclical recovery

An easing of China's overheated economy and a rapid rise in costs could sap some of the vigor from the mining industry, says Canaccord Capital's global metals and mining analyst Gary Lampard. In an early-February research report he said... — Updated 2/27/2005

 
 By Gary Park    News

NWT housing, labor market sizzling

Diamonds and energy are generating some spinoff benefits in the Northwest Territories, fueling house prices and creating some fertile ground for union organizers. The Canadian Real Estate Association has credited the industry with stimul... — Updated 2/27/2005

 
 By Gary Park    News

New gold firm hungry to expand

A new North American gold powerhouse is in the making following the merger of Goldcorp and Wheaten River Minerals, two mid-size Canadian producers, whose combined entity now ranks No. 5 on the continent. With the champagne still flowing... — Updated 2/27/2005

 
 By Gary Park    News

B.C. aims to revitalize mining

Mining can return to being a sunrise business in British Columbia, the province's Energy and Mines Minister Richard Neufeld said in unveiling a broad plan to build on the industry's recent recovery after a long slump through the 1990s.... — Updated 1/30/2005

 
 By Gary Park    News

Diamond zones found in Ontario

Pele Mountain Resources, a junior exploration company, says it has discovered two large diamond-bearing zones in northern Ontario. Exploration at the Festival diamond project is being financed by gold producer Goldcorp, which has an... — Updated 1/30/2005

 
 By Gary Park    News

Voisey's Bay discoverers sell interests

The finders of Newfoundland's huge Voisey's Bay nickel deposit are cashing in their royalty interest for C$180 million and 1 million shares of a new mining royalty company. Christopher Verbiski and Albert Chislett, the prospectors who... — Updated 1/30/2005

 
 By Gary Park    News

B.C. mineral claims at your fingertips

The age of claim staking - with all of its excitement, intrigue and even hand-to-hand combat - is over in British Columbia. Now you can acquire mineral rights without even leaving your office. The provincial government has joined two... — Updated 1/30/2005

 
 By Gary Park    News

Survey: Gold miners set reserves at $366

Gold mining companies are reacting cautiously to the latest spikes in gold prices in valuing their assets, unsure where the U.S. dollar is headed, an annual survey by Pricewaterhouse-Coopers has concluded. Ignoring a peak of close to... — Updated 1/30/2005

 
 By Gary Park    News

DeBeers, Inco join forces to hunt for gems, metals in Canada Far North

De Beers and Inco, world powers in the diamond and nickel industries, have linked up to explore for gems and base metals on Baffin Island in Canada's Far North. The two companies signed a precedent-setting, two-year agreement Jan. 19 to... — Updated 1/30/2005

 
 By Gary Park    News

Coal miner leads Canadian IPO returns

In a rebound year for Canadian coal, it was no surprise that Grande Cache Coal topped the performance list of companies that made initial public offerings in 2004. Bolstered by a threefold rise in the price of metallurgical coal, the... — Updated 1/30/2005

 
 By Gary Park    News

Bre-X trial resumes long journey in Ontario

The world's largest mining hoax fades for long periods, without ever disappearing completely. Now the insider trading case against John Felderhof, former chief geologist of Bre-X Minerals, is back before the Ontario Superior Court,... — Updated 12/26/2004

 
 By Gary Park    News

Tiffany quits NT diamond mine

The name that is synonymous with diamonds wants no part of digging for the gems in the Northwest Territories. Tiffany & Co. unloaded its 14 percent holding on Aber Diamond, the co-owner of Diavik, Canada's second diamond mine. The U.S.... — Updated 12/26/2004

 
 By Gary Park    News

Canada's proposed diamond strategy gets lukewarm reception from industry

Canada's burgeoning diamond industry is not likely to get an extra lift from tax changes. A spokesman for the Canadian government dumped some cold water on hopes contained in a proposed national diamond strategy prepared by the... — Updated 10/31/2004

 
 By Gary Park    News

Inco moves ahead on two nickel mines

Inco, the world's second largest nickel producer, is now in pursuit of a 50 percent increase in output by 2009. The Toronto-based company has ended a two-year hiatus by resuming work on its US$1.9 billion Goro project in New Caledonia an... — Updated 10/31/2004

 
 By Gary Park    News

B.C. aboriginal groups block Kemess gold, copper mine expansion project

Aboriginal groups in a remote corner of north-central British Columbia are resolutely opposed to plans by Vancouver-based Northgate Minerals to expand the Kemess gold and copper mine. Northgate took over Kemess four years ago after the... — Updated 10/31/2004

 

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