After an all-scrip takeover of Canadian-listed WCB Resources in November, Kingston immediately upgraded Misima's existing resource by 22% to a JORC standard 2.8 million ounces of gold and 13.9Moz silver and is poised to appoint a drilling contractor.Many may remember Misima as one of Placer Dome's cornerstone gold mines, which produced 3.7Moz of gold and 22Moz of silver over 14 years before it was...Read More
While the United Nations' International Seabed Authority (ISA) in charge of issuing mineral exploration licences has granted 26 so far, Papua New Guinea remains the only country to have granted an operating permit for ocean floor mining.Canada's Nautilus is on track to start operations at its Solwara gold, copper and silver project in the Bismarck sea off PNG in early 2019, making it the first und...Read More
(Bloomberg) - Glencore Plc and Randgold Resources Ltd. are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body.In a letter sent to Congolese President Joseph Kabila on Feb. 8 and seen by Bloomberg, investors requested a meeting "to once again put forwar...Read More
The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, boosted by a jump in money raised on stock exchanges to a six-year high.Mining and metals deals totalled $51 billion last year, up 15% from 2016. Activity was dominated by coal and steel transactions. However, the volume of deals fell 6% as M&A focus in the sector started shifting from dives...Read More
JAKARTA, Feb 19 (Reuters) - Indonesia issued the local unit of copper miner Freeport McMoRan Inc with a quota to export 1,247,866 wet metric tonnes (wmt) of copper concentrate up to Feb 15, 2019, a mining ministry official said on Monday.Medco Energi Internasional unit Amman Mineral Nusa Tenggara was also issued with a quota to export 450,826 wmt of copper concentrate over same period, Minerals Di...Read More
The company already has a subsidiary set up for this - Electric Metals Streaming Corp - that houses net smelter return royalties on seven exploration projects in Canada, but its second equity raise in December has accelerated the transition.During this process, Cobalt 27 went to market looking for C$85 million to bolster its physical cobalt stocks by 800 tonnes. This came six months after securing...Read More
Since coming into the hotseat in May 2017, he has sealed a 100% stake in the company's flagship Pastos Grandes property, published a maiden resource and preliminary economic assessment on the project and tied up a larger option for another strategically-located asset in the lithium triangle of South America. Oh, and he has also raised C$41.5 million (US$33 million) in the process securi...Read More
With both its 100%-owned projects demonstrating attractive metrics and each located in a top-tier mining jurisdiction, White Rock Minerals MD and CEO Matthew Gill used the analogy of being supposed to love your children equally when asked to pick the project taking precedence, but said the key focus right now was to unlock the Alaskan zinc potential."In a commercial world, you need to respond to w...Read More
Managing director and CEO Archie Koimtsidis describes Namdini as one of the world's major recent gold discoveries.The company released the encouraging preliminary economic assessment (PEA) for Namdini earlier in February and expects to continue to generate positive news flow in the coming months from an imminent resource update, its ongoing drill campaign, metallurgical optimisation work and green...Read More
Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas.These are the key conclusions of Moody's Investor Service, which released a recent report summarizing commentary from analysts at a Jan. 18 teleconference.Probably the most positive aspects of the report, with the least conditions attached, relate to bas...Read More
The rapid evolution of Capricorn is thanks to a rare alignment of good luck and good management in a story that stretches back to one of the last discoveries by WMC Resources before the BHP takeover in 2005.Read More
A whopping two-thirds of MINING.com readers say battery-technology metals will perform better than precious or base metals in 2018.The survey, which ran last month ahead of the Vancouver Resource Investment Conference 2018, asked our readers how the materials needed to make batteries for the coming electrical vehicle revolution will fare over the coming years. Key findings were the following:Two-t...Read More
Making the right call on, say, the process flowsheet, or the development finance package can make investors serious money. The wrong decision normally has the opposite effect.This is why the most successful investors - those that understand the decade-long mining process - take a good hard look at the executives and directors before jumping onto the share registries of exploration and development...Read More
Shares in Rio Tinto-controlled Turquoise Hill Resources opened 3% lower on Friday after the Mongolian government reinstated a decade-old agreement ordering the Vancouver-based company to source power for its Oyu Tolgoi mine domestically.Rio Tinto, down 1.8% in New York, could face higher costs on its $5.3 billion underground expansion of the giant copper-gold mine in the South Gobi desert near t...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 bullion producer, which has been hit hard by a long-running dispute with the government of the East African nation, is mulling the sale of stakes in some or all of its operations in that country.In response to media speculation on the matter, the company said it was "engaging with a small number of potential investors" over the potential deal, adding it ad...Read More
Japanese trading house Mitsui & Co. is increasing its stake in Chile's Collahuasi copper mine, also owned by Anglo American and Glencore (44% each), but has decided to sell its 1.25% stake in the Los Pelambres mine, Antofagasta's (LON:ANTO) flagship asset.Mitsui has agreed to acquire JX Nippon Mining & Metals' 3.6% interest in Collahuasi, which takes its total stake in the mine to 11.03% and, ac...Read More
Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed.A decade-long commodity boom coincided with years of economic growth when China took off, but when the global economy slowed, so did the market for commodities from oil to copper.Data shows...Read More
The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is still within striking dis...Read More
It is difficult not to write about the political developments in southern Africa at a time when South Africa is embroiled in a titanic struggle to rid itself of the Zuma factor. Over the next few months, there will be more clarity about the political direction the country will take. All indications are, however, that a government without Zuma will be more business friendly, and that a Department o...Read More
Its flagship project is the Cerro Las Minitas silver-lead-zinc property in Durango, Mexico within the prolific Faja de Plata silver belt that has seen historical production and resources of over three billion ounces of silver.The management team and board has an extensive track record of exploration, discovery and development success in Latin America including the Pensaquito mine in Zacatecas, Mex...Read More