Pembridge Resources (LON:PERE) said Thursday it was buying Capstone Mining's (TSX:CS) Minto copper-gold-silver mine in Canada's Yukon for $37.5 million in cash plus a 9.9% stake in the company.The miner, which last year moved from the Aim to LSE main board, said the acquisition makes of Pembridge a cash flow generating copper producerThe London-based company said it plans to raise $50 mill...Read More
Canadian miner Kinross Gold (TSX:G) (NYSE:KGC) has moved to secure low-cost power supply for its Paracatu mine, Brazil's largest gold mine, by buying two hydroelectric plants for $257 million.With the acquisition of two hydroelectric plants, it expects to eliminate about 70% of future power purchases.The Toronto-based miner said the acquisition of Barra dos Coqueiros and Cacu hydro power plants,...Read More
Rising mineral prices and the increasing difficulties to earn a living from agriculture, have led to an explosive growth in global artisanal and small-scale mining (ASM) in the last few years.The activity is emerging as an significant socio-economic sector in a number of developing nations, to the point it has become a major of revenue for millions of people in about 80 countries worldwide - mostl...Read More
The Indonesian unit of Freeport-McMoRan Inc and fellow copper miner Amman Mineral Nusa Tenggara (AMNT) are waiting for last-minute mining ministry approvals to their applications to extend copper concentrate exports, company officials said.Freeport's export permit for Grasberg, the world's second-biggest copper mine, is due to expire on Friday, as is Amman's permit to ship ore concentrate from its...Read More
TECHNICAL GUIDE TO FINANCING: ENVIRONMENTAL AND SOCIAL INPUTS REQUIREDThe changes correspond with evolving ESG risks to financiers. The textbox below lists matters most commonly presenting risks through their potential to halt projects, suspend operations, increase management costs and/or result in significant closure liabilities. These are listed in historical order rather than importance.&...Read More
Picking winners in this super-heated market has become a bit like shopping for a used car; there are clunkers with a fresh lick of paint and banana skins packed into the diff, and there are forgotten gems that have been sitting in a garage for decades.ASX-listed junior Alt Resources (ARS) has snagged the equivalent of the coveted "barn find" with its acquisition of the Bottle Creek gold openpit mi...Read More
Feb 14 (Reuters) - Barrick Gold Corp reported adjusted fourth-quarter earnings on Wednesday in line with market expectations and forecast gold production dropping over the next four years with mining costs seen flat to higher.Barrick, the world's biggest gold producer, said it expects to produce between 4.5 million and 5 million ounces of gold this year at a cost of between $765 and $815 an ounce...Read More
Mining and metals investors were piling into the sector's big names on Wednesday as gold jumped, base metals prices surged and iron ore continued to rally on optimism about global demand for raw materials ahead of a holiday week in top consumer China.Gold enjoyed its best trading since the Brexit vote in June 2016 on Wednesday. Copper bounced to above the $7,000 a tonne ($3.24 per pound) level...Read More
Shares in Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) were down almost 4.9% in New York premarket after reporting weaker than expected earnings for the three months to December and a 10% drop in revenue.The Vancouver, British Columbia-based company logged a profit of Cdn$700 million or Cdn$1.21 per share for the forth quarter of the year, compared to Cdn$9...Read More
The improvements at its copper and tin operations are coinciding with an uptick in commodity prices and the surge in cobalt has prompted a fresh look at its Wingellina project, which remains one of the world's largest undeveloped nickel-cobalt-scandium assets.Its tin business is going from strength to strength, however managing director Warren Hallam sees the Nifty copper operation in Western Aust...Read More
Fatality at Serabi mine: NMBCapital marketsPolarX points to upsideSPONSOREDpolarx ltdMOD has been in Botswana since 2011, discovering the T1 deposit (aka Mahumo), which has a small, but high-grade resource of 2.5 million tonnes containing 2% Cu and 50g/t Ag, the same year.Read More
ULAANBAATAR, Feb 13 (Reuters) - Mongolia will not put a cap on immigration in 2018, authorities said on Tuesday, after lawmakers rejected new policy proposals that set to put tough restrictions on the numbers of foreign workers in the remote north Asian nation.Some members of Mongolia's parliament sought to limit the number of new resident permits granted to foreign or stateless people to 100 per...Read More
Argentina's national government is pressing ahead with its intentions to make of mining one of the pillars of job creation, and it's holding talks with the leaders of the three provinces that declined to sign a 2017 mining act, which harmonizes taxes and regulations in hopes of attracting investment.Mining secretary, Daniel Meil??n, told local paper El Diario that the government wants the leaders...Read More
Shares in Seabridge Gold (TSX:SEA) (NYSE:SA) were soaring in pre-market trade in New York after the Canadian company bulked up again its already massive KSM gold-copper-silver project in northern British Columbia in both size and grade.Before the opening, Seabridge stock was already exchanging hands at $10.40, up 4.8% on the New York Stock Exchange, after hiking its estimated inferred gold and c...Read More
Mining giant BHP (ASX, NYSE:BHP) (LON:BLT) is taking a $1.8 billion hit from the major US tax reform package supported by President Donald Trump and passed by the Senate in DecemberThe Anglo-Australian miner said the charge, which will be treated as an exceptional item, consists mainly of a non-cash charge on deferred taxes of $898 million and another charge on foreign tax credits of $834 million...Read More
Rio Tinto (LON:RIO) has become the sole owner of Pistol Bay Mining's. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, by making a final payment of $1 million in cash.With the acquisition, the world's second largest miner is materializing plans of grabbing those three assets, which are located close to Cameco's McArthur River mine - the world's largest producing uraniu...Read More
A Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) worker died on Monday night while clearing a blocked ore pass at the company's Driefontein gold operation in South Africa, less than a week after a fall of rocks at its Kloof mine killed two people.The precious metals miner said investigations into the latest incident by management together with the department of mineral resources (DMR) and other releva...Read More
The board has approved the throughput capacity to increase 15% to 85 million tonnes per annum and a further increase to 100mtpa after 2022.Read More
The company said last week it had received bridge loans totalling US$4.75 million and expected further loans to form part of a larger secured structured credit facility of up to US$34 million, and was also working with M. Horn & Co on remaining project financing of up to $350 million."The overarching objective of the trial was to ensure that all three machines met the requirements of their res...Read More
Attorneys from Antofagasta's First Environmental Tribunal, together with company executives, researchers and conservation experts, visited, flew over and sailed around the site where Andes Iron's Dominga mine and port project would be located, in the central Coquimbo region. The trip was part of an evaluation process the court was prompted to undertake following Andes Iron's appeal of an August 20...Read More