New offer could avert strike in South Africa
Harmony Gold and Goldfields have presented the National Union of Mineworkers (NUM) with a new offer in hopes of averting a strike at the companies’ South African mines, which employ about 50,000 worke…
2001
Placer bucks trend, posts profit
Vancouver — A strong second quarter augurs well for Placer Dome (PDG-T) as the company sets about developing various deposits to replace its aging mines.The major cranked out 747,000 oz. gold during …
Argosy inks major deal with Noril’sk
Just days before its rights to the Nakety and Bogota nickel-cobalt concessions in the French Pacific territory of New Caledonia were set to expire, Argosy Minerals (AGY-V) announced it had brought Rus…
High River boosts output
In the first half of the year, Toronto-based High River Gold Mines (HRG-T) produced a record amount of gold at lower costs at its 50%-owned New Britannia mine in Manitoba, and at the mines of JCS Bury…
Barrick profits clipped
Lower production and higher power costs at key mines took a bite out of Barrick Gold’s (ABX-T) second-quarter earnings, but the major says it still expects year-end earnings to ring in at about US70 …
GREATEST VALUE TRADED, JULY 25-31
ExchgVal($000s)HighLowCloseChangeAlcoa*N 548533 40.00 37.00 39.23 + 2.00…
Mining index suffers summer slump
Vancouver — Canada’s junior exchange lost ground over the report period ended July 31, with the mining index slipping considerably. The Canadian Venture Exchange composite index lost 10.69 points, or…
Golds nosedive but base metals stay afloat
The Toronto Stock Exchange moved modestly higher during the report period July 25-31, adding 103.18 points to finish at 7,689.69, for a gain of 1.4%.Base metal shares outpaced the broad market with a …
Northern Miner Indices (August 06, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T18.7FalconbridgeFL-T5.9Franco-Nevada MiningFN-T6.5Freeport McMoRan Cop’r BFCX-N5.3Homestake MiningHM-N6.4IncoN-T9.4Newm…
Metal Prices (August 06, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 31July 30July 27July 26July 25Aluminium1378/14…
Drilling tests Robert’s Arm
Drilling by Altius Minerals (ALS-V) is under way at Bumble Bee Bight on the Robert’s Arm property in northeastern Newfoundland.Inmet Mining (IMN-T) is funding the program, which will include at least …
Gold miners take a beating
Denver — The Dow Jones industrial average climbed 281.69 points, or 2.8%, during the report period ended July 31 to close at 10,522.81, while spot gold on the Comex division of the New York Mercantil…