News
Short-term prospects dim in mineral commodity markets
It’s annual-report season, and given the difficult trading conditions of late, it isn’t surprising that many companies are reporting mixed results. What is cause for concern, however, is that most min…
Gold Funds (February 25, 2002)
Gold Funds as of February 14 2002Dundee Precious MetalsCentral FundNet Value$18.26$5.76Price$13.90$5.87…
The Northern Miner — North American Mining Index (February 25, 2002)
77.01 (-1.19)(Sept. 30/98 = 100)…
The Northern Miner — Small Producers Index (February 25, 2002)
66.42 (-0.17)(Sept. 30/98 = 100)…
Getchell mine pushes Placer into red
Vancouver — Placer Dome (PDG-T) posted a US$29-million profit during the fourth quarter of 2001, but US$301 million in writedowns pushed the company US$133 million into the red for the year.Quarterly…
MOST ACTIVE ISSUES, FEB. 13-19
ExchgVol(000s)HighLowCloseChangeNewmont Mng*N3629025.2923.3123.77-0.20…
Newmont now the biggest on the block
Ushering in a new era in gold mining, Newmont Mining (NEM-N) has taken control of Normandy Mining (NDY-T) and merged with Franco-Nevada Mining to overtake AngloGold (AU-N) as the world’s larges…
Teck Cominco cuts zinc output (February 25, 2002)
Vancouver — Faced with an oversupply of zinc on the world market, Teck Cominco (TEK-T) plans to trim production by 55,000 tonnes in 2002.The Cajamarquilla zinc refinery in Peru, owned 82% by the majo…
Barrick to halve hedge book
With fewer writedowns and a merger under its belt, Barrick Gold (ABX-T) finished 2001 with modest earnings in contrast to the loss it took in 2000. But the big gold producer had other news to deliver:…
Two hedgers get new look
Barrick Gold’s recent announcement that it will sell half its gold at spot rates didn’t take many by surprise, even though it had the same ring as an archbishop voicing doubts about the Resurrection. …
Diamonds gain momentum
Diamond mines and pipelines continue to be hot topics of discussion and speculation across the Northwest Territories. As we move into our second decade of diamond discovery, the Northwest Territories …