MINING MARKETS & INVESTMENT NEWS – U.S. MARKETS — Dow hits all-time high

The Dow Jones industrial average shot to an all-time high of 9,736.08 points in the middle of the report period ended March 9, only to fall off to finish the week at 9,693.76, up 396.15 points, or 4.3%.

Mining issues were buoyed on the rising tide, helped along by a strong week for gold. The metal posted five straight gains to finish the week at US$292 per oz.

Getchell Gold, listed on the American Stock Exchange, outpaced other gold producers with a gain $3.56 to close at US$29.75.

Newmont Mining, listed on the New York Stock Exchange, climbed $1.38 to close at US$19, while Anglogold advanced $2.69 to US$21.69. Meanwhile, Nasdaq-listed Lihir Gold rose $1.38 to US$17.38, and Ghana’s Ashanti Goldfields added 31 cents to close at US$9.25.

Broken Hill Proprietary rose 75 cents to US$15.44, and Class A and B shares of Freeport-McMoRan Copper & Gold gained 44 cents and 56 cents to close at US$9.86 and US$10.06, respectively. Rio Tinto surged $4.36 to close at US$55; Phelps Dodge rose 87 cents to US$47.75; and Cyprus Amax Minerals edged up 32 cents to close at US$10.94.

Peru’s leading silver producer, Buenaventura, slipped 44 cents to US$15.56, while shares of Apex Silver Mines dipped 38 cents to US$9 amid continued weakness in the silver market.

American-listed platinum producer Stillwater Mining rebounded $1.76 during the report period, to close at US$25.38.

Nasdaq-listed junior Brush Creek Mining & Development added 40% to its stock price, jumping 13 cents to US44 cents after installing Jeffrey Bootes as president. Bootes is associated with exploration properties in Honduras and Africa.