Denver — Bombing of the World Trade Center in New York on Sept. 11 halted trading among financial markets already battered by bad economic news. The Dow Jones industrial average fell 391.98 points (4%) to 9605.51 during the report period from Sept. 5-10. Trading fell silent on Sept. 11 and remained closed the following day.
The London afternoon gold fix shot up to US$287 per oz., up from US$271, in response to terrorist attacks in the U.S. However, the price has since pulled back. Most mining issues were mixed, responding to the sour economic news. Newmont Mining picked up 86 to close at US$21.15, while AngloGold slipped $1.37 to US$15.82. Mid-sized Meridian Gold moved up 93 to US$9.93, and Glamis Gold gained 23 to close at US$3.21. Homestake Mining added 30 to US$8.43. Nasdaq-listed Harmony Gold Mining advanced 13 to US$4.65, while Peru’s Compania de Minas Buenaventura was up 58 to US$19.75.
Spot copper on the Comex division of the New York Mercantile Exchange sunk to 65 per lb. on Sept. 10, sending Phelps Dodge down $3.69 to US$36.33. Class A and B shares of Freeport-McMoRan Copper & Gold dipped 13 and 8 N.Y., to US$10.77 and US$11.97, respectively. Anglo American fell $1.20, while Rio Tinto dropped $3.01 to US$68.59. Southern Peru Copper sunk 63 to US$11.29, while BHP Billiton bucked the trend, rising 20 to US$9.85.
Platinum-miner Stillwater Mining lost $2.61 to close at US$23.19, while gold-silver producer Echo Bay Mines shed 43 to close at US52, after Franco-Nevada Mining gained control of the company through a significant share dilution.
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