Sopko retiring as Inco’s profit soars
Just hours after the company tabled a stellar US$400-million profit for 2000, Inco (N-T) Chairman and Chief Executive Officer Michael Sopko announced he will step down from both positions immediately …
News
Market absorbs rate cut
Denver — The Dow Jones industrial average climbed 76.22 points, or 0.7%, in the report period ended Feb. 6 to close at 10,957.42. The market got a boost when the U.S. Federal Reserve cut interest rat…
A taste of things to come Living Legacy, Act One
The recent decision by Ontario’s minister of natural resources to reject an application for a granite quarry near Belleville and adjacent to the Mellon Lake Conservation Reserve is being applauded by …
Roman’s empire not built in a day
Unlike fellow financier Joe Hirshhorn (1899-1981), Stephen Roman (1921-1988) was a builder, albeit a slow one.The portly gentleman immigrated to Canada in 1937 after attending agricultural college in …
Dinner will honour Cross
After 52 years and 13,388 issues, the George Cross Newsletter and its editor, George Cross, Jr., have decided to call it a day.The final issue of the west-coast mining chronicle was published at the e…
Spot Prices Wed. February 7, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$262.90-$3.30Silver$4.63-$0.16Platinum$606.00+$1.00…
Gold detects foreign substances
Scientists at the Department of Energy’s Sandia National Laboratories in Albuquerque, N.M., have developed a “laboratory on a chip” that allows for quick detection and testing of small amounts of unkn…
***** New Story***** Producer and Dealer Prices
Antimony: Mid-mkt US$1,300/t.Bismuth: Mid-mkt US$3.95/lb.Cadmium: Mid-mkt US$0.21/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$11.45-14.30/lb.Copper: Comex March US$0.8305/lb.Indium: …
Seahawk raises funds for Piteiras
Seahawk Minerals (SKM-V) has raised another $1 million for work at its 75%-owned Piteiras emerald prospect in Brazil’s Minas Gerais state.The Denver-based junior privately placed 1.4 million special w…
Iamgold posts more quarterly profits
Vancouver — Markham, Ont.-based Iamgold (IMG-T) continues to post profits, thanks to record production during the third quarter.The company holds a 38% stake in the Sadiola gold mine through Mali-bas…
LME WHSE LEVELS (February 12, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 6/01 (change from Jan. 30 in brackets):MetalStock (tonnes)ChangeAluminium426450(…
Falco posts record earnings despite strike
Higher metal prices and increased low-cost production from its new Raglan and Collahuasi mines offset the effects of an ongoing strike at its Sudbury operations, enabling Falconbridge (FL-T) to post r…