Inco reaps PGM windfall, makes discoveries
Sky-high palladium and platinum prices are swelling what had been a little-mentioned byproduct credit into a major source of cash flow for Inco (N-T).For 2000, the nickel giant’s revenue from platinum…
Articles by Northern Miner Staff
McVicar, BHP stake ground north of Superior
Partners McVicar Minerals (MVR-V) and BHP (BHP-N) have staked a second platinum group metals (PGM) property on the north shore of Lake Superior.The 174-claim property is named Foxtrap, after the Foxtr…
Summo eyes Australian copper producer
Denver — Denver-based Summo Minerals (SMA-T) is in negotiations to acquire an equity interest in Australia-based Matrix Metals.Matrix operates the Mt. Cuthbert copper mine in northwestern Queensland….
Peter Brown wins Pezim award
West coast-based financier Peter Brown has won the Murray Pezim Award, presented by the British Columbia and Yukon Chamber of Mines at the 18th Annual Cordilleran Exploration Roundup, held recently in…
Industrial minerals sale hits snag for Hecla
Denver — Hecla Mining (HL-N) has filed suit in U.S. federal court against Toronto-based Zemex (ZMX-T) for refusing to close on the agreed-upon transaction to buy Hecla’s industrial minerals subsidiar…
And the winner is . . .
Among the more popular awards programs is the “Grammys,” presented annually by the U.S.-based National Academy of Recording Arts and Sciences for outstanding achievement in various categories in the r…
Trail reduces zinc output
The Waneta Dam, on the Pend Oreille River, near Trail, B.C., is becoming a cash cow for Cominco (CLT-T). The zinc producer has been selling excess power to utilities and other customers in the wake of…
Placer sinks as gold sags
Gold saw a little price action during the Jan. 17-23 report period as the Bank of England completed another gold auction, selling 803,600 oz. at US$268 per oz., with an over-allotment of 4.8 times.Ove…
Spot Prices Wed. January 24, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$265.70+$2.60Silver$ 4.77+$0.10Platinum$612.00-$16.00…
Northern Miner Indices (January 29, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T20.7ComincoCLT-T4.5FalconbridgeFL-T6.3Franco-Nevada MiningFN-T5.8Freeport McMoRan Cop’r BFCX-N4.0Homestake MiningHM-N3….
Exchange Rates (January 29, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJan. 23Jan. 22Jan. 19Jan. 18Jan. 17US$ in C$1.50661.50661.51441.5…
Metal Prices (January 29, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJan. 23Jan. 22Jan. 19Jan. 18Jan. 17Aluminium1646/15…