U.S. MARKETS — Dow climbs toward new high

The Dow Jones industrial average climbed 247.39 points over the report period ended Feb. 23, to 9,544.42 — 100 points shy of a new high.

Mining issues were mixed. Most copper producers continued to suffer from sagging metal prices, and gold miners were off slightly despite a steady price.

Class A and B shares of Freeport-McMoRan Copper & Gold sank to new lows as copper languished at US62 cents per lb. The New York Stock Exchange-listed shares fell 44 cents and 56 cents, respectively, closing at US$9.12 and US$9.38.

Meanwhile, Rio Tinto lost 56 cents to close at US$51.44; Phelps Dodge jumped $3.19 to US$47.69; Asarco bounced back from last week’s new low, gaining 43 cents to finish the week at US$13.81; Southern Peru Copper advanced 93 cents to US$9.62; and Newmont Mining was off 63 cents to US$17.62.

Ashanti Goldfields gained 56 cents to close at US$8.94 after buying the Kubi gold project in Ghana from Toronto-listed Nevsun Resources.

American Stock Exchange-listed Getchell Gold dropped 44 cents to close at US$27.31.

South Africa’s Anglogold lost 87 cents, sinking to US$18.44 following its minor role in a merger between Driefontein Consolidated and parent Gold Fields. Driefontein, listed on Nasdaq, was down 53 cents to US$3.72.

Apex Silver Mines slipped 24 cents to finish the week at US$8.88, while Peru’s Buenaventura rose 50 cents to US$13.81.

Nasdaq-listed Crown Resources rose 43 cents to US$2.62 in the wake of a third court victory for the Crown Jewel gold project in Washington state.