LENDING RATES (September 01, 2008)
as of 9 a. m. ET, Aug 19, 2008 (%) Bank of Canada 3.25 Target overnight rate 3.00 Canadian Prime 4.75 U. S. Discount Primary 2.25 U. S. Fed Funds market rate 2.00 U. S. Prime 5…
2008
HudBay’s Balmat zinc operation goes bust
VANCOUVER–Less than two years after ramping the Balmat mine back up to full production, HudBay Minerals (HBM-T, HBMFF-O) is closing the New York state zinc mine and concentrator.
Imperial gets Sterling drill results in Nevada
VANCOUVER — Imperial Metals (III-T) is having success at the past-producing Sterling gold mine, 185 km northwest of Las Vegas, Nev., with positive drill results from its 144 zone.
ArcelorMittal shores up Brazilian iron ore assets
VANCOUVER — ArcelorMittal (MT-N) cut two sizable cheques on the same day for two iron assets in Brazil.
CANADIAN GOLD MUTUAL FUNDS (September 01, 2008)
Featured Fund: Altamira precious & Strategic Metals, as of 07/31/08 (in weighted order): Goldcorp, Barrick Gold, Kinross Gold, Agnico-Eagle Mines, Yamana Gold, Franco-Nevada, Newmont Mining, Compa…
Baffin Island sparkles for Peregrine
It’s not every day that you find diamonds outcropping at surface in the Arctic and some miners will go a lifetime without ever seeing it happen. Oftentimes, kimberlite pipes of interest in the Far Nor…
Douglas Lake taps Tanzminex for Mbwembkuru
Tanzanian-focused mineral exploration company Douglas Lake Minerals (DKLM-O) has contracted Tanzanian Mineral Exploration (Tanzminex) to prepare a resource estimate for the company’s Mbwemkuru alluvia…
Chinalco limited to 15% Rio Tinto stake
The Australian government has approved a maximum holding of 14.99% in the shares of Rio Tinto PLC( RTP-N, RIO-L) for Aluminum Corp. of China (Chinalco). The approval is subject to the conditions that …
12 SNC-Lavalin employees die in Algeria bombing
Twelve SNC-Lavalin (SNC-T) employees were killed and another 15 injured in Algeria, when a car bomb exploded near a bus they were riding to work.
Aretech buys majority stake in Xcalibur
Multinational engineering company Aretech Solutions is acquiring a majority stake in Xcalibur Airborne Geophysics.
TORONTO STOCK EXCHANGE AUG. 19-25
The S&P-TSX Composite Index rose during the Aug. 19-25 trading session, on the back of strengthening oil and gold prices, gaining 170 points, or 1.3%, to 13,289. Mining and materials issues did ev…
EXCHANGE RATES (September 01, 2008)
CANADIAN/U. S. EXCHANGE (Bank of Canada noon rate) Date Aug. 25 Aug. 22 Aug. 21 Aug. 20 Aug. 19 US$ in C$ 1.0464 1.0458 1.0456 1.0628 1.0607 C$ in US$ 0.9557 0.9562 0.9564 0.9409 0…