Higher gold boosts Grasberg
Vancouver — Freeport-McMoRan Copper & Gold (FCX-N), operator of the world’s largest copper-gold mine, earned an impressive US$49.2 million (or US33 per share) in the first quarter.The gain, which wa…
Articles by Northern Miner Staff
People (April 28, 2003)
America Mineral Fields — Former director Stephen Malouf resigned.Amerigo — Steven Dean and Klaus Zeitler appointed to board of directors; Jeffrey Giesbrecht appointed secretary; Irene Wilson resigne…
Tournigan explores in Northern Ireland and El Salvador
Vancouver — Tournigan Gold (TVC-V) has raised $1.25 million in a brokered, short-form financing, with proceeds earmarked for projects in Northern Ireland and El Salvador.The company placed 5 million …
Lending Rates (April 28, 2003)
as of 4 pm ET, Apr. 22, 2003(%)Bank of Canada3.50Canadian Prime5.00U.S. Discount Primary2.25U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.32LIBOR US$ 6-month1.32LIBOR US$ 1-year1.42Gold …
Alcoa trims more workers
The biggest news of the week was Alcoa’s announcement it will cut production and staff at three smelters, in Rockdale, Tex., Massena, N.Y., and Ferndale, Wash.After cutting 10,000 jobs in 2002, the co…
US mineral output stagnant
The value of mineral-based materials produced in the U.S. in 2002 was US$373 billion, almost the same as in the previous year, according to a report from the U.S. Geological Survey.The lack of improve…
Exchange Rates (April 28, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateApril 22April 21April 18April 17April 16US$ in C$1.44711.4544Holiday…
Producer and Dealer Prices (April 28, 2003)
Antimony: Mid-mkt US$2,530/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$8.75-9.50/lb.Copper: Comex May US$0.7215/lb.Indium: Indium Corp., ingot, US$140/kg.Iridium…
Southern Rio advances 3T’s property
Vanderhoof, British Columbia — Southern Rio Resources (SNZ-V) is intensifying exploration of the 3T’s low-sulphidation epithermal gold-silver project in central British Columbia, 120 km southwest of …
Canadian Royalties pegs Mesamax resource
Vancouver — An independent resource estimate for the Mesamax zone has verified the economic potential of the Expo-Ungava nickel-copper-platinum-palladium property in northern Quebec.Glenn Mullan, pre…
Far North beckons Cumberland
By advancing the Meadowbank project in eastern Nunavut to production, Cumberland Resources (CBD-T) is positioning itself to become Canada’s next mid-tier gold producer.Covering some 350 sq. km along a…
New Brunswick offers variety of gold environments
The recent grassroots discovery of intrusion-related gold occurrences in the southwestern area of the province highlights the potential for economic precious metal deposits in New Brunswick. Coupled w…