News

The government of South Africa is expected to scrap a proposed 3% royalty on revenue from gold mining companies with operations in the country. The industry has warned that the royalty would force them to close mines and lay off workers.

New York, N.Y.-based jewelry giant Tiffany & Co. recently took out a full-page advertisement in the Washington Post protesting the proposed Rock Creek copper-silver mine in northern Idaho.

Seeking a broader shareholder base, Australian-listed Anvil Mining has decided to list its shares on the Toronto Stock Exchange (TSX).

The College of Eastern Utah has dropped its mining program after 30 years, owing to declining enrolment and state legislature-inflicted budget restrictions.

Precious MetalsPrice (US$/oz.)Change…

Drilling by First Narrows Resources (UNO-V) has intersected encouraging gold mineralization at the Golden Ridge property in southern New Brunswick.

South African gold producers Harmony Gold (HMY-N) and Durban Roodepoort Deep (DROOY-Q) have both issued bids for Pacific Rim mining companies, continuing efforts to diversify geographically.

Antimony: Mid-mkt US$2,950/t.

Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, March 30 (change from March 23 in brackets):…

CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)…

March 24-30 was a generally good reporting period for U.S. markets, but no more so than among the metal producers. Both major market indices advanced, with the Dow up 3.2% and the S&P 500 up 3%.