US law augurs well for silver coin sales
U.S. President George W. Bush has signed legislation that authorizes the Treasury to buy silver on the open market when the nation’s silver stockpile is depleted. The new law ensures that production o…
News
Poetry contest in Cobalt
As part of its centennial celebrations next summer, the town of Cobalt, Ont., is having a poetry contest in honour of William Henry Drummond, a Canadian poet who owned and operated a mine in the area …
Ukraine to close unsafe mines
Ukrainian President Leonid Kuchma has vowed to close all unsafe mines following an explosion at a coal pit that killed 20 people.The blast occurred about 1,000 metres below ground at the Zasyadko mine…
PEOPLE (August 12, 2002)
Miranda Mining — Enrique Miranda-Paz, Armando Busto-Adan, Ken Booth, Ken Thorsen and Richard O’C Whittall appointed directors.Pacific Minerals — Gary Artmont appointed vp exploration.Robex…
Cave-in kills 15 miners in Zimbabwe
At least 15 gold miners at an illegal operation in Zimbabwe were killed when a mine shaft collapsed.The accident occurred at an abandoned mine at Mhondoro, 125 km southwest of Harare, according to rep…
Steady earnings at Cameco (August 12, 2002)
Uranium producer Cameco (CCO-T) posted second-quarter net earnings of $12 million, or 22 per share, on revenue of $195 million, as increased sales volumes and improved uranium and gold prices bulked …
Newmont rises with strong quarter
Newmont Mining turned in its first quarterly report since its mega-merger with Franco-Nevada Mining and Normandy Mining, and the results augur well for the company’s future. The company, now the world…
Golds bounce back, market looks slack
Despite some hundred-point days, the Toronto Stock Exchange moved sideways during the report period July 31-Aug. 6, with the TSX Composite index closing at 6,519.16, up a meagre 7.98 points over the f…
Spot Prices Wed. August 6, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$307.80+$2.40Silver$ 4.64-$0.02Platinum$526.00-$…
Lending Rates (August 12, 2002)
as of 4 pm ET, Aug. 6, 2002(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.76LIBOR US$ 6-month1.74LIBOR US$ 1-year1.83Gold lease 3-month0.26Gold lease…
Northern Miner Indices (August 12, 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…
Daily Metal Prices (August 12, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateAugust 6August 5August 2August 1July 31Al Alloy1290…