Alcoa trims more workers
The biggest news of the week was Alcoa’s announcement it will cut production and staff at three smelters, in Rockdale, Tex., Massena, N.Y., and Ferndale, Wash.After cutting 10,000 jobs in 2002, the co…
Phelps Dodge Corporation
Busy week for base metals
The base metal miners took the spotlight away from the golds during the report period ended April 15.BHP Billiton rose 20 to US$11.56 as it launched a 10-year, US$850-million global bond, part of whi…
PEOPLE (April 14, 2003)
Phelps Dodge — Jon Madonna appointed to board of directors.QGX — Paul Zweng appointed chief operating officer. Surf’s up!Seabridge — Eliseo Gonzalez-Urien appointed senior technical ad…
Candor eyes Mary March (April 14, 2003)
Candor Ventures (CND-V) has signed a letter of intent to acquire a half-interest in the promising Mary March massive sulphide property from the Canadian exploration arm of Phelps Dodge (PD-N).Situated…
Jerritt Canyon deal in Nevada falls through
Shares in Queenstake Resources (QRL-T) plummeted 17, or nearly 45% of their value, in early trading on April 8 after the company said it was unable to settle on a new deal to acquire the Jerritt Cany…
People (April 07, 2003)
Diavik Diamond Mines — President and CEO Philip du Toit resigns.GoldSpring — John F. Cook appointed president; Les Cahan appointed treasurer.Magnum d’Or — Reno Calabrigo appointed pres…
Northern Miner Indices (April 07, 2003)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T19.5%CamecoCCO-T3.1%FalconbridgeFL-T4.0%Freeport BFCX.B-N5.7%Glamis GoldGLG-T3.3%GoldcorpG-T5.4%IncoN-T9.0%Meridian GoldMNG-T…
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., …
NYSE GREATEST VALUE CHANGE (March 24, 2003)
VolumeCloseChangeRio Tinto*N14470081.862.56Phelps Dodge*N201070033.99…
NYSE GREATEST PERCENTAGE CHANGE (March 24, 2003)
Exchg Vol(000s) High Low Close % ChgPechiney*N8013.8012.6013.76+12.33…
GREATEST VALUE TRADED, MARCH 5-11
ExchgVal($000s)HighLowCloseChangeNewmont Mng*N42212127.5024.6624.75-2.50…