Placer cuts hedge book (April 07, 2003)
Vancouver — North America’s third-largest gold company reduced its hedging program by 1.1 million oz. in the first quarter of 2003.Placer Dome (PDG-T) converted 920,000 oz., which were committed unde…
News
Bright outlook for lithium: report
Demand for lithium metals and chemicals is expected to reach 11,250 tonnes in 2006, according to a report by London-based Roskill Information Services. That’s the equivalent of 60,000 tonnes of lithiu…
Rio Tinto buys data system
London-based Rio Tinto is using data access protocol (DAP) technology as a way of managing exploration data.The technology, provided by Toronto-based Geosoft, allows users to transfer large amounts of…
Etruscan overcomes problems
Although it is still behind schedule, the fledgling Tirisano alluvial diamond mine in South Africa appears to have turned the corner.Etruscan Resources (EET-T) advanced Tirisano to production in Novem…
Base metals after the fall
After a period of resilience, base metal prices are currently going through a phase of sharp corrections.Aluminum has led the way south on March 27 (minus 6.7% from its recent peak at the end of Febru…
South African royalty bill raises concerns
A South African bill that would place an 8% royalty on diamonds mined in that country has De Beers questioning the fairness of the proposed legislation.The government acquired all the country’s minera…
Pasminco workers walk off job
Almost 100 workers at the Elura zinc mine in eastern Australia have gone on strike over concerns of lost jobs and benefits if the operation is sold.The mine’s owner, Pasminco, is in talks to sell the …
Lending Rates (April 07, 2003)
as of 4 pm ET, Apr. 1, 2003(%)Bank of Canada3.25Canadian Prime4.75U.S. Discount0.75U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.28LIBOR US$ 6-month1.23LIBOR US$ 1-year1.28Gold lease 3-m…
Spot Prices Wednesday April 2, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$330.25+0.65Silver$4.40+0.02Platinum$640.00-4.00P…
Brunswick employees ratify 3-year contract
Employees at the Brunswick lead-zinc smelter in Belledune, N.B., have voted 69% in favour of a 3-year collective agreement that contains no wage increases and will see the smelter shut down for four m…
Inco wins energy efficiency award
Inco has won an award from the federal government for reducing greenhouse gases and conserving evergy at its operations in Copper Cliff, Ont.The reductions were achieved as a result of ideas submitted…
People (April 07, 2003)
Diavik Diamond Mines — President and CEO Philip du Toit resigns.GoldSpring — John F. Cook appointed president; Les Cahan appointed treasurer.Magnum d’Or — Reno Calabrigo appointed pres…