New chemical regulations could affect mining
The federal government has drafted regulations that seeks to “classify” certain information on materials and chemicals that could be dangerous in the hands of terrorists.The rules will apply to large …
2002
GREATEST VALUE TRADED, JULY 17-23
ExchgVal($000s)HighLowCloseChangeAlcanT61938550.3541.4141.41-6.40…
Global market shock hits TSE
The report period July 17-23 saw further steep declines on stock markets worldwide, and the Toronto Stock Exchange was no exception. The TSX Composite index lost 534.58 points, or about 8% of value, a…
Cambior still losing money (July 29, 2002)
Weighed down by falling gold production, gold miner Cambior (CBJ-T) turned in another quarterly loss.The company posted a net loss of US$3.1 million (or US2 per share) on revenue of US$48.7 million d…
US mining shares walloped
The 7-day period that ended July 23 was marked by relentless waves of panic selling in markets across the world. In the U.S., the S&P 500 index sank 11.4% to 797.71 points, the Dow Jones Industrial Av…
Miramar hits targets
Vancouver — Despite the temporary suspension of the Con autoclave, Miramar Mining (MAE-T) expects to exceed 2002 production forecasts at its operations at Yellowknife, N.W.T.The recent second quarter…
TSE Short Positions (July 29, 2002)
Short positions outstanding at July 15, 2002Larger individual positions includeAber Diamond 371,442 down 108,881; Agnico-Eagle 5,058,576 down 256,686; Alcan 1,195,306 down 692,465;…
Low costs at El Peon buoy Meridian (July 29, 2002)
The El Peon gold mine in Chile remains one of the world’s lowest-cost producers, enabling Meridian Gold (MNG-T) to post net earnings of US$11.3 million for the second quarter of 2002.The income, whic…
Northern Miner Indices (July 29, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T23.2%CamecoCCO-T3.2%FalconbridgeFL-T5.2%Freeport BFCX.B-N5.8%GoldcorpG-T4.2%IncoN-T9.2%Meridian GoldMNG-T2.8%Newmont MiningNE…
Weak equity markets threaten metals
Base metals prices fell sharply during the report period July 15-19, erasing most of the gains made in aluminum and copper since the rally of late May and early June. However, the LME index of all bas…
Plunging power profits hit Teck
Vancouver — Artificially high power prices brought on by an energy shortage in the U.S. battered the bottom line of Teck Cominco (TEK-T) in the second quarter.The world’s largest zinc miner earned $8…
Andean American expands in Peru (July 29, 2002)
Vancouver — Andean American Mining (AAG-V) reports that exploration is in full swing at its recently expanded Santa Rosa property in southern Peru.An L-shaped trench was recently dug 650 metres north…