Daily Metal Prices (July 29, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 23July 22July 19July 18July 17Al Alloy1280/128…
News
LME Warehouse Levels (July 29, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, July 23 (change from July 16 in brackets):MetalStock (tonnes)ChangeAluminium1258750(-…
Inco takes US$1.6-b Voisey’s writedown
In a widely anticipated move, Inco (N-T) has written down the carrying value of the Voisey’s Bay nickel project in Labrador by US$1.6 billion to US$2.2 billion.Inco could act on the matter as the comp…
Turquoise Hill grows
Vancouver — Ongoing drilling by Ivanhoe Mines (IVN-T) at the Turquoise Hill and Kharmagtai projects in Mongolia has expanded gold and copper mineralization.Results from Turquoise Hill indicate that t…
Mining faces challenges
Mining faces some of the most difficult challenges of any industry and is distrusted by many, according to a report by the London-based International Institute for Environment and Development (IIED).T…
Collahuasi, Lomas Bayas firm up Falco earnings (July 29, 2002)
Higher sales volumes combined with newfound production from the Lomas Bayas mine in Chile to keep Falconbridge (FL-T) financially steady during the three months ended June 30.The company earned more t…
News – 29-JUL-02
Mistrust and the bear market
There is an adage that recession uncovers what auditors do not. If that is so, then the recent one turned over a rock like nobody has seen in recent memory.The Enrons, WorldComs, and others have done …
AngloGold joins online marketplace
AngloGold recently made its systems compatible with those of Quadrem, an online marketplace for metals and mining products, and now the South African gold giant is doing business on the Internet.Anglo…
Another coal mine closes in England
More than 2,000 mine workers in England will lose their jobs following the closure of the country’s biggest coal mining complex, near the northern town of Selby.UK Coal, which has incurred losses of U…
Record amounts spent on Aussie gold search
A record A$7.6 billion will be spent exploring for gold in Australia in 2002-03, up from A$6.7 billion in 2000-01, according to a survey by the Australian Gold Council.Gold producers will account for …
Lower output whacks FCX earnings
True to its early-July warning, Freeport-McMoRan Copper & Gold (FCX-N) has seen its bottom line eroded by heavy rainfall and lower head grades at the Grasberg mine in Indonesia.In the second quarter, …