Alcan earnings slide
With net income slipping 43% in the recent quarter, Alcan Aluminium (AL-T) is warning that a weaker economy may cut into aluminum demand.For the fourth quarter ended Dec. 31, 2000, the world’s second-…
News
Spot Prices Wed. January 31, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$266.20+$0.50Silver$ 4.79+$0.02Platinum$605.00-$7.00…
LME Warehouse Levels (February 05, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Jan. 30/01 (change from Jan. 23 in brackets):MetalStock (tonnes)ChangeAluminium392900…
Exchange Rates (February 05, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJan. 30Jan. 29Jan. 26Jan. 25Jan. 24US$ in C$1.49851.50091.50631.5…
Staff Investment Policy (February 05, 2001)
The Northern Miner does not permit any editorial employee to file stories about companies in which the writer owns shares. Editorial employees are also not permitted to take part in initial public off…
Lead, copper and zinc post gains
Some short-term relief looks likely for metals prices as three factors — volatile nearby spreads, an improving technical picture, and production cuts stemming from California’s power shortages — con…
Northern Miner Indices (February 05, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T20.7ComincoCLT-T4.5FalconbridgeFL-T6.3Franco-Nevada MiningFN-T5.8Freeport McMoRan Cop’r BFCX-N4.0Homestake MiningHM-N3….
Market eyes rate cut
Denver — The Dow Jones industrial average climbed 231.39 points, or 2.2%, to 10,881.20 during the report period ended Jan. 30, in anticipation of the 0.5% interest rate cut by the U.S. Federal Reserv…
GREATEST VALUE TRADED, JAN. 24-30
ExchgVal($000s)HighLowCloseChangeAlcoa*N 504827 35.62 33.50 35.42 +1.48…
Minefinders tops up treasury
Vancouver-based Minefinders (MFL-T) has closed a $1.5-million private placement of 1.6 million units priced at $1 apiece.Each unit comprises one share and one non-transferable warrant allowing the hol…
Rio Tinto posts strong quarter
Denver — The fourth quarter of 2000 was highlighted by a 40% increase in iron ore production and a 24% rise in aluminum production for Rio Tinto (RTP-N).The increase is attributed to the company’s ac…
Goldcorp bumps up grade
Goldcorp (G-T) has increased by 43% the number of contained ounces in the High Grade zone of the Red Lake mine in northwestern Ontario.The mine, which re-entered production in August, now has a reserv…