US markets fly like turkeys
The U.S. markets enjoyed an uneventful four trading days surrounding the American Thanksgiving holiday, with the Dow Jones Industrial Average sliding 28.78 points to 9,872.60 and the Standard & Poors …
Freeport-McMoRan Inc
Newmont still volume leader
The New York Stock Exchange finished in positive territory over the report period Nov. 14-20, adding 150.43 points to close at 9,901.38.Like last week, the big newsmaker was Newmont Mining, which was …
Newmont bid stirs market
Newmont Mining shocked the gold mining world on Nov. 14 by launching a simultaneous, all-share takeover bid for Canada’s Franco-Nevada Mining and Australia’s Normandy Mining. The deal would create the…
Cut in Bank of Canada rate falls on deaf ears
Hoping to boost investor confidence, the Bank of Canada shed 75 basis points from its key lending rate on Oct. 23, bringing it to a 40-year low. But so far, the decision appears to have backfired: the…
Freeport hits lowered profit target (October 22, 2001)
Vancouver — At a time when Afghanistan is being bombed and Muslim fundamentalists are calling for a “holy war” against the U.S., it must be a tad unsettling for an American-based mining company to ha…
Gold rally sputters following US retaliation
Well, so much for the gold rally. Prices for the yellow metal began a downward trend during the Oct. 3-9 report period, falling out of a tight US$290-per-oz. trading range and quietly drifting down to…
US markets continue to slide
Denver — The Dow Jones industrial average sank another 243.43 points, or 2.7%, to 8,659.64 during the report period ended Sept. 25 — its lowest level in four years. The Nasdaq settled at 1501.64.The…
Dow plunges in wake of tragedy
Denver — Nearly a week after the terrorist attacks on New York City and Washington D.C., trading resumed in a strongly negative fashion. The Dow Jones industrial average plunged 702.11 points, or 7.3…
Market slide cut short by tragedy
Denver — Bombing of the World Trade Center in New York on Sept. 11 halted trading among financial markets already battered by bad economic news. The Dow Jones industrial average fell 391.98 points (4…
Dow dips below 10,000 mark
Denver — Growing market pessimism pushed the Dow Jones industrial average below the 10,000 mark, down 224.54 points, or 2.2%, to 9997.49 points during the report period ended Sept. 4. The Nasdaq drop…
Interest rate cut falls flat
Denver — Financial markets sank in response to the U.S. Federal Reserve’s latest quarter-point interest rate cut, sending the Dow Jones industrial average down 238.03 points, or 2.3%, for the report …
Freeport’s Grasberg zero-cost copper producer
Record gold sales and throughput in the second quarter have allowed Freeport-McMoRan Copper & Gold (FCX-N) to post zero-unit cash costs for each pound of copper produced at the vast Grasberg mine in I…