US golds take hit as price falls
A steep dip in the price of gold pushed U.S. gold producers lower over the April 2-8 report period. The yellow metal was fixed at US$324.10 per oz. on the morning of April 9, for a loss of $6.15 on th…
Alcoa Inc
Mitsui buys into CVRD
The biggest global mining story of the report period was the complex deal involving Brazilian iron ore giant Cia Vale do Rio Doce’s (CVRD) and Japan’s no. 2 trading house, Mitsui.Mitsui winds up spend…
Coeur sets records
Last year was a banner one for Coeur d’Alene Mines, as the company set records for silver and gold production. Silver output rose 36% to 14.8 million ounces, produced at a cash cost of $2.89 per oz., …
People (February 10, 2003)
Alcoa — William Christopher appointed executive VP and group president for Alcoa Aerospace, Automotive and Commercial Transportation; Paul Thomas appointed VP of Alcoa and president of North American…
MOST ACTIVE ISSUES, JAN. 29-FEB. 4
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A sweet week for golds
Gold bugs were delighted over the holiday-shortened report period as prices for the yellow metal surged more than US$7 to a new, 6-year high of almost US$360 per oz.Gold has been on a steady march upw…
Alcoa posts surprise loss
Alcoa (AA-N) posted a fourth-quarter loss of US$223 million after announcing plans to cut 8,000 jobs at 70 locations worldwide. The loss represents US27 per diluted share.By comparison, the company i…
Alcoa to upgrade Baie-Comeau
Pittsburgh, Pa.-based Alcoa (AA-N) intends to spend $1 billion upgrading its smelter in Baie-Comeau, Que., to begin in late 2003.Under a deal with the Quebec government, the aluminum giant will invest…
Gold touches US$355 per oz.
Gold bugs were particularly exultant during the report period ended Dec. 20 as the yellow metal surged to US$355 per oz. on Dec. 19. during intra-day, European trading.However, any belief in gold is s…
WMC gains titanium asset
The biggest deal of the report period was WMC Resources’ US$87.5-million acquisition from South Africa’s Southern Mining of the world’s largest undeveloped titanium mineral-sands deposit: Corridor San…
BHP curbs copper output
BHP Billiton, the world’s largest mining company, announced that its 2003 copper production target for the world’s largest copper mine, Escondida in Chile, is being set at 1.05 million tonnes, while a…
Stillwater mauled
The biggest news of the period under review was Noril’sk Nickel’s move to acquire a majority interest in troubled U.S. palladium-platinum producer Stillwater Mining for a combination of cash and physi…