Noranda puts Perseverance on hold
With zinc prices foundering in the US33-36-per-lb. range, Noranda (NRD-T) has decided to postpone development of t…
Articles by Northern Miner Staff
Alcoa injects $1 billion in to Baie-Comeau smelter
Alcoa (AA-N) has tabled plans for a $1-billion investment in its smelter at Baie-Comeau, Quebec. Under a deal w…
Northern Miner Indices (December 16, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T21.9%FalconbridgeFL-T4.2%Freeport BFCX.B-N5.0%GoldcorpG-T5.2%IncoN-T7.7%Meridian GoldMNG-T4.7%Newmont MiningNEM-N24.8%Noranda…
Gold shines as Iraqi stalemate continues
Profit-takers outnumbered investors over the Dec. 4-11 report period, causing the Toronto Stock Exchange composite index to lose 43.41 points. The index finished the week at 6,597.20.Gold, buoyed by n…
Lending Rates (December 16, 2002)
as of 4 pm ET, Dec. 10, 2002(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount0.75U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.41LIBOR US$ 6-month1.43LIBOR US$ 1-year1.59Gold lease 3-…
MOST ACTIVE ISSUES, DEC. 4 – 10
ExchgVol(000s)HighLowCloseChangeKinross GoldT313453.082.822.88+0.12…
Inco reviews Goro development
Facing sudden and significant cost overruns, Inco (N-T) will be reviewing its Goro nickel laterite project in the French Pacific territory of New Caledonia.The company is beginning a 6-month engineeri…
Miramar sets sights on Boston Deeps (December 16, 2002)
Vancouver — The largest drill program planned for Canada in 2003 may have got 9,000 metres bigger, now that Miramar Mining (MAE-T) intends to test the depth potential of the Boston deposit at the Hop…
Correction (December 16, 2002)
A recent insider trading report should have stated that Michael Terrel, director of St. Jude Resources (SJD-V), bought 23,000 shares directly at 65-80 apiece and 525,145 shares indirectly and private…
Aluminum subdued as tin trends upward
The following was culled from Barclays Capital’s monthly report The Commodity Refiner:AluminumThree-month aluminum prices managed to trade 4.2% higher during October and another 3% firmer by mid-Novem…
GoldOre nabs La Plata (December 16, 2002)
Vancouver-based GoldOre Resources (GOZ-V) has purchased the La Plata copper property, near Durango, Colo., in exchange for shares and the assumption of US$35,000 of debt.La Plata overlies a porphyry s…
El Limon takes shape for Miranda (December 16, 2002)
Vancouver — Drill results reported by Teck Cominco (TEK-T) and Miranda Mining (MRM-V) confirm that mineralization extends north of the El Limon gold prospect on the Morelos Norte project in Mexico’s …