LME Warehouse Levels (October 27, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct. 21 (change from Oct. 13 in brackets):MetalStock(tonnes)ChangeAluminium1368675(-7…
News
Noranda makes cuts at Horne smelter
Determined to cut operating costs by up to $30 million, Noranda (NRD-T) is slashing production at its struggling Horne copper smelter in Rouyn-Noranda, Que.Under the plan, total feed volume to the sme…
Codelco under fire
State-owned Corporacion Nacional del Cobre de Chile (Codelco) has filed a document with the Third Criminal Court of Santiago that rejects allegations of a corrupt bidding process for recent mining-rel…
Imperial Metals expands Northeast zone (October 27, 2003)
Vancouver — The latest drill results have expanded the newly discovered Northeast zone on the past-producing Mount Polley copper-gold property, 56 km northeast of Williams Lake, B.C.So far, Imperial …
Harmony Gold cuts Russian ties
Facing pressure from South Africa’s Reserve Bank to consolidate ownership or cut bait with respect to overseas projects, Harmony Gold (HMY-N) has divested itself of its Russian holdings in two separat…
Placer Dome tops up till
Vancouver — Looking to refinance costs associated with the recent acquisition of East African Gold Mines, Placer Dome (PDG-T) has added US$530 million to its till.The major issued US$300 million of u…
People (October 27, 2003)
Alcan — Christine Morin-Postel appointed director;Alcoa — John Pizzey, VP and group president of primary products, will retire in early 2004; Pizzey will be succeeded by Bernt Reitan.APAC…
Exchange Rates (October 27, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateOct. 21Oct. 20Oct. 17Oct. 16Oct. 15US$ in C$…
Canadian Stock Exchange Indices (October 27, 2003)
DateOct. 20Oct. 17Oct. 16Oct. 15Oct. 14HighLowTSX Composite7719.85…
AngloGold boosts Ashanti bid (October 27, 2003)
AngloGold (AU-N) has bumped its all-share offer for Ghanaian-based Ashanti Goldfields (ASL-N) by 11.5%.The world’s third-largest gold producer is now offering 0.29 of an AngloGold share for each share…
Gold rallies as Barrick breaks the mold
Gold roared back to life in the Oct. 15-21 report period, rising US$4 to a London morning fix of US$374.80 per oz. Silver also shone, rising US6 over the five trading days to finish at US$5 per oz.Ba…
Lateegra cuts gold at Del Norte, Clone
Vancouver — Lateegra Resources (LEG-V) is pleased with initial results from drilling at its Clone and Del Norte properties, 20 km southeast of Stewart, B.C.Del Norte, which Lateegra shares with Teuto…