Consumer buying augurs well for metals
Metals prices continued to move in lock step with equity market indices for the time being. This is not the usual picture in the early stages of an economic upturn. Weak equity markets have not hamper…
News
Pacific Minerals confirms grades (August 05, 2002)
Vancouver — The first nine holes of a planned 2,500-metre underground drill program on the JBS platinum-palladium-nickel-copper deposit in southwestern China have returned high-grade values for opera…
More miners killed in China
A gas explosion has killed 18 miners at an unlicensed pit in China’s southwestern province of Guizhou, and seven more miners were injured in another blast at the nearby Taojiawan coal mine.The latest …
IGI to open Toronto lab
The International Gemological Institute (IGI), based in New York, N.Y., will open a lab in Toronto to certify diamonds for the Canadian market.The Toronto lab will include seven Canadians and three IG…
Barrick up US$59m in Q2
Second-quarter earnings by Barrick Gold (ABX-T) were steady at US$59 million, as the company completed its first six months as a half-hedger in the gold market.Barrick’s profit of US11 per share came…
Namco hits a sweet spot (August 05, 2002)
Marine diamond miner Namibian Minerals (NMR-T) has set a 1-day production record, hauling up an astonishing 16,417 carats from 1.9 sq. km of Feature 22.The parcel, which includes 54,240 stones, was re…
Silver demand slated to rise
As the global economy improves this year, demand for silver should recover from 2001 levels, according to World Silver Survey 2002, published by the Washington, D.C.-based Silver Institute.Silver fabr…
Almaden spins drills at Elk project
Vancouver — Aiming to expand the known resource of the Siwash North and WD vein systems, junior Almaden Minerals (AMM-T) has launched a $350,000 drill program at its wholly owned Elk gold property in…
Northern Miner Indices (August 05, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T23.2%CamecoCCO-T3.2%FalconbridgeFL-T5.2%Freeport BFCX.B-N5.8%GoldcorpG-T4.2%IncoN-T9.2%Meridian GoldMNG-T2.8%Newmont MiningNE…
LME Warehouse Levels (August 05, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, July 30 (change from July 23 in brackets):MetalStock (tonnes)ChangeAluminium1267425(+…
Silver Standard inks Challacollo option (August 05, 2002)
Vancouver — The results from a due diligence program have prompted Silver Standard Resources (SSO-V) to continue working the Challacollo silver-gold property in northern Chile.The 2,500-metre program…
Spot Prices Wed. July 31, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$305.40-$8.20Silver$ 4.66-$0.20Platinum$530.00+$…