Inco strike misguided
The Inco strike is a bad strike — bad for the workers, bad for the company, bad for the community and ultimately bad for the country.It’s hard to fathom why 72% of the 10,000 members of Local 6500 of…
News
Auto sector drives platinum demand
Demand and prices for platinum will remain firm, but the outlook for palladium is less positive, according to Platinum 2002, an annual report published by London-based Johnson Matthey.Demand for plati…
Canada, S. Africa sign pacts
Natural Resources Minister Herbert Dhaliwal has signed two agreements with his South African counterpart, Phumzile Mlambo-Ngcuka, to increase co-operation in research and activities linked to sustaina…
News – 27-MAY-02
Half a crusade
The state of New York and the investment firm Merrill Lynch have jointly announced the terms of a settlement in the state’s investigation into conflicts of interest in Merrill’s rating of stocks. The …
Newmont unfazed by first-quarter loss
Despite a lacklustre start, Newmont Mining (NEM-T) expects it will soon be reaping the rewards of its recent acquisitions of Normandy Mining (NDY-T) and Franco-Nevada Mining.Newmont lost US$10.9 milli…
Pan American combines with Corner Bay in all-share deal
With its eye on the 117-million-oz. Alamo Dorado silver resource in northern Mexico, Pan American Silver (PAA-T) has entered into a preliminary agreement to acquire all the outstanding shares of Corne…
Cumberland cuts high grades at Meadowbank
Definition drilling by Cumberland Resources (CBD-T), aimed at expanding the resource of its wholly owned, 3-million-oz. Meadowbank gold project in Nunavut, is intersecting high-grade gold mineralizati…
Gold stocks shine as yellow metal rallies
The holiday-shortened report period of May 15-21 clipped 28.6 points off the S&P/TSX composite index, leaving it with a finish of 7,688.31.Gold led the precious metals in a rally not seen in some time…
The Northern Miner — North American Mining Index (May 27, 2002)
89.60 (+3.78)(Sept. 30/98 = 100)…
MOST ACTIVE ISSUES, MAY 15-21
ExchgVol(000s)HighLowCloseChangeKinross GoldT207953.882.933.83+0.79…
Golds up in weaker US market
Generally gloomy economic news and weakness in the “new-economy” stocks brought the U.S. stock markets down over the report period May 15-21. The broadly based Standard & Poor’s 500 index fell 17.4 po…