MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Dow edges down, metals steady

The Dow Jones industrial average slipped 123.8 points to 10,910.33 during the report period ended Sept. 14. Metal prices held steady.

Gold hovered at US$256.70 per oz. on the Comex division of the New York Mercantile Exchange, but mining companies were mixed. South Africa’s Anglogold picked up 56 cents to close at US$27.44, while Newmont Mining dipped 44 cents to US$20.06 on the New York Stock Exchange.

Homestake Mining slumped 57 cents to US$7.62, nearing a 12-month low. Mid-sized Glamis Gold lost 13 cents to close at US$1.62. Meridian Gold gained 25 cents to finish at US$5.25, following the successful startup of the Penon gold-silver mine in Chile.

Copper prices dipped slightly to US80 cents on the Comex, nudging most producers down for the week. Class A and B shares of Freeport-McMoRan Copper & Gold fell $1.56 and $1.31 to close at US$13.44 and US$15, respectively. Rio Tinto lost $2 at US$71.50.

Cyprus Amax Minerals slipped 44 cents to US$17.31 while merger partner Asarco dipped 43 cents to US$21.38. Southern Peru Copper added 13 cents at US$16.25.

De Beers Consolidated Mines shed 96 cents to close at US$27.48 on Nasdaq trading. Platinum-producer Stillwater Mining gained 50 cents at US$23.38 after reaching a settlement with environmental groups over expansion at the Stillwater mine in Montana.

Peruvian silver producer Buenaventura lost 37 cents at US$14.25 as the white metal held firm. Base metal junior Chief Consolidated Mines lost 56 cents to close at US$3.25.