LONDON, Jan 24 (Reuters) - Copper producer Cradle Arc embarked on a new London listing on Wednesday to fund production in Botswana, considered by miners as a safe African jurisdiction seeking to diversify its economy from its reliance on diamonds.Formerly known as Alecto Minerals, which ceased trading last July, Cradle Arc was renamed and relaunched on London's AIM market for small companies with...Read More
Zinc pulled back on Wednesday to below $3,400 a tonne, but stayed within shouting distance of the best levels since August 2007 as worries about global stocks of the metal, mainly used in galvanizing steel, continue to support prices.In a research report consultants Wood Mackenzie said the combination of scheduled mine closures, top producer Glencore's strategic cuts and the impact of environmenta...Read More
Shares in M2 Cobalt Corp (CVE:MC) were off to the races on Wednesday after the company announced the acquisition of exploration licenses in east Africa and resumed trading in Toronto.During lunchtime trade the Vancouver-based junior was exchanging hands for $1.00 up 61.3% after a halt on trading on the TSX Venture Exchange in place since November was lifted. Around 67,000 shares were traded givin...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) plummeted Wednesday after the company reported marked drops in gold and copper output during the last quarter of 2017, which weighted on full-year production.Gold production fell to 212,400 ounces in 2017, a dramatic 21.6% decreased when compared to the previous year. In the fourth quarter alone, output of the precious metal reached 40,500 ounces...Read More
Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, has agreed to buy a 12.5% stake in fellow Canadian miner Royal Road Minerals (TSX-V:RYR) in a shares-deal worth about Cdn$1.6 million (roughly $1.3 million at today's rates).The transaction will see Barrick acquire 9,875,876 ordinary shares of Royal Road in a non-brokered private placement at a price of $0.16 per unit for t...Read More
With US$8 million banked after its latest non-brokered private placement, and completion of the Remo Resources reverse takeover that puts Chakana into the public market, the junior is set for a big year of drilling as it strives to put a significant maiden copper-gold-silver resource on two known breccia structures at Soledad, and prioritise assessment of a handful of other identified pipes.Read More
At Mining Indaba, in Cape Town, Jangada management will mix with banks, funds and private individuals that previously poured money into PGM endeavours in the world-famous Bushveld complex, some 1,400km away. Considering the dire straits many PGM miners on the Bushveld find themselves in, one might assume Jangada would want to avoid any comparison with the region - far from it. "There are...Read More
Big mining companies, restored to health following the 2015-16 price crash, are seeking to rationalize their portfolios and acquire assets in line with heightened focus on the best quality minerals and anticipated demand for battery materials.Still, the mood remains cautious and the focus has been on smaller deals after the damage inflicted by steep commodity price falls and as uncertainty surroun...Read More
Managing director and CEO Archie Koimtsidis said Cardinal provided investors with exposure to potentially a world-class development gold asset, with the company de-risking and advancing the project towards development with a management team with extensive in-country experience. "The company expects to continue to generate positive news flow from its infill drill campaign, metallurgical optimi...Read More
Southern Gold returned a maiden unfranked dividend to investors in 2017 thanks to cashflow from the openpit Cannon gold mine near Kalgoorlie, in Western Australia, and the company has just signed an agreement to proceed with underground mining at Cannon which will see development partner Westgold Resources (AU:WGX) pay A$1.5 million (US$1.2 million) upfront plus a production payment per ounce for...Read More
Palisade Research January 23, 2018 Category: Research The US Dollar has collapsed over 11% since this time last year. . .Look at it yourself. That’s an ugly drop - especially for the world’s reserve currency.And we expect it to continue dropping. . .Here’s why.In 2014 the Federal Reserve began reducing their Quantitative Easing (basically money printing) program. Jan...Read More
Aurubis AG, Europe's biggest copper smelter, said on Monday it had agreed to take 100 per cent control of German copper wire and rod maker Deutsche Giessdraht by acquiring the 40 per cent stake held by Chile's Codelco.Aurubis had held 60 per cent of Deutsche Giessdraht and Codelco held the remainder through German unit Codelco Kupferhandel GmbH.The agreement will require the approval of German com...Read More
(Bloomberg) - Anil Agarwal, the Indian commodities billionaire, said the rally in Anglo American Plc vindicated his personal bet in the mining group, adding that he plans to own the shares for a long time.Agarwal surprised Anglo's management last year when he took a 21 percent stake in the company, becoming its top shareholder. The structure of the purchase, done via a mandatory exchange bond issu...Read More
Africa-focused gold producer Randgold Resources (LON:RSS) said Monday it expected its Democratic Republic of the Congo mine to achieve full production this year, following the commissioning of its underground operation's automated ore handling and hoisting system.Mine is on track to produce its target of 700,000 ounces of gold in 2018.The company, which has five operating gold mines across west...Read More
Rising mineral prices and the struggle 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, a new study published Monday shows.Artisanal and small-scale miners produce about 20% of the current global gold supply.According the report, produced by Canada's Intergovernmental Forum on Mining, Minerals, Metals and Su...Read More
Mining giant Rio Tinto (LON:RIO) is setting up a new office in Mongolia, independent from its massive Oyu Tolgoi copper and gold mine, which will focus on exploration and local links.The opening of the new unit, based in capital city Ulaanbaatar, shows Rio's vote of confidence in a nation that has recently been on Oyu Tolgoi's case.The new office, separate from Rio's presence in the Oyu Tolgoi m...Read More
The US Army Corps of Engineers confirmed in January that the Pebble permit application is complete, which drew a line under an acrimonious battle between the company and the US Environmental Protection Agency. The EPA previously claimed jurisdiction over the Pebble permit application and essentially gave a pre-emptive decision against it.Read More
Palisade Research January 22, 2018 Category: Research This morning Mexican Gold released the final assays of its 2017 program. . .The results focused on the Eastern extent of El Dorado/Juan Bran, where the Dike Contact has only seen one drill hole in the past.Currently, the west contact zone has been outlined for over 360 meters along strike. Today's assays outline high-grade mineralization on the...Read More
Demand and prices for virtually all industrial materials and commodities - from lumber and copper to oil and agricultural products - made for strong gains in 2017, and "synchronized" global economic growth promises to continue pushing prices up throughout 2018 and 2019, according to Scotiabank Economics."Scotiabank Economics is forecasting, for the first time since the global financial crisis, tha...Read More
After having invested $1.2 billion to develop the Kamoa-Kakula project in the Democratic Republic of Congo, it is no surprise that Ivanhoe Mines' executive chairman, Robert Friedland, is bullish on copper. The engine that drives his confidence comes in the form of electric vehicles which, according to investment manager U.S. Global Investors, need up to four times the amount of copper traditional...Read More