LME Warehouse Levels (November 04, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct. 29 (change from Oct. 22 in brackets):MetalStock (tonnes)ChangeAluminium1273975(-…
2002
Exchange Rates (November 04, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateOct. 29Oct. 28Oct. 25Oct. 24Oct. 23US$ in C$1.56311.56051.56…
Resource stocks mixed as broad markets gain
The Toronto Stock Exchange Composite index coasted through the Oct. 23-29 report period, rising a mere 3.15 points to finish the week at 6,294.81.Gold was up US$3.75 in overseas markets, landing at a …
Daily Metal Prices (November 04, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateOct. 29Oct. 28Oct. 25Oct. 24Oct. 23Al Alloy1255/126…
Canada’s second diamond mine prepares for startup
With prestripping well under way following dewatering of the A-154 open pit, construction and commissioning of the Diavik diamond project in Canada’s barren north is on budget and ahead of schedule.Th…
Bulls battle bears to a draw
Vancouver — Canada’s junior exchange saw little change during the report period ended Oct. 29 as investors appeared unwilling to make any big bets ahead of crucial economic reports due later in the w…
Barrick sees earnings slide
Barrick Gold (ABX-T) has posted disappointing earnings of US$34 million (or US6 per share) for the third quarter, owing to lower-than-anticipated grades and recovery rates at several of its operation…
Charter empowers SA miners
South Africa’s new Broad-Based Socio-Economic Empowerment charter is the product of a process that reaffirms the mining sector’s willingness to aid and promote wealth creation opportunities for histor…
Starfield delineates 119 zone
Vancouver-based Starfield Resources (SRU-V) has cut more massive sulphides at its Ferguson Lake polymetallic project, near Rankin Inlet in Nunavut.In late August, Starfield discovered the so-called 11…
Blacks to own 26% of SA mines under new charter
The revised South African mining charter calls for 26% of every mine to be under black ownership within 10 years and for white-owned companies to help raise the R100 billion needed to achieve this obj…
Return of the commodity cycle
A study recently presented to the Department of Industry concludes that the energy industry is finding it difficult to raise investment capital, and that there is some danger the industry will cut bac…
Financing in hand for Samira Hill project (November 04, 2002)
The African Development Bank (ADB) has approved a US$12.5-million loan to La Socit des Mines du Liptako (SML) to finance the Samira Hill-Libiri gold mining project in Niger.SML is 80%-held by Africa…