Voters in the world's second-largest producer of mined copper and zinc cast out some fierce opponents of giant mines, ushering in a change of guard that could potentially lure investments to some of Peru's most impoverished regions.Citizens in Cajamarca, the South American nation's poorest region, elected pro-investment candidate Mesias Guevara, ending the rule of an anti-mining movement that has...Read More
BHP, (ASX:BHP) the world's No.1 miner, won't sell its smallest Chilean copper operation this year after all, as would-be buyer EMR Capital Advisors Pty, an Australian private equity firm that invests in natural resources, failed to meet a financing deadline for the $230 million cash deal.The Melbourne-based mining giant had decided to offload Cerro Colorado mine in May last year, as part of ch...Read More
In recent days we've seen the beginnings of an inversion in the yield curve.The 2-year yield and the 5-year yield have inverted but not yet the the 2-year yield and the 10-year yield, the curve that is watched most. However, "2s and 10s" as bond traders would say appear headed for an inversion very soon.We know that an inversion of the yield curve precedes a recession and bear market. That is good...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedCEO Mark Cutifani told a briefing for investors and analysts Tuesday he was confident about the company's outlook, with Anglo's production expected to be 2% higher than the full-year 2018 guidan...Read More
Waterton bought 912,763 Hudbay common shares on the open market at C$6.4973 for a total investment of $5.93 million.It previously expressed opposition to Hudbay's commitment to any further mergers and acquisitions, saying the company had enough quality projects to create significant shareholder value.Waterton had requisitioned a special meeting of shareholders on October 23, to have sharehold...Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsIt is that time of year again where we all put our brains on idle and suspend belief for a bit - and it is most relaxin...Read More
* Government plans higher taxes in January* Additional revenue to help bring down mounting debtLUSAKA - Mining companies in Zambia may lay off more than 21,000 workers due to reduced capital expenditure over the next three years if the government introduces higher taxes in January, an industry body said on Tuesday.Africa's No.2 copper producer plans to introduce new mining duties, replace Value Ad...Read More
Amarc Resources (TSXV: AHR; US-OTC: AXREF) has identified five clusters of drill ready targets that cover areas ranging from 1.5 sq. km to more than 5 sq. km during 2018 exploration at its JOY copper-gold project in north-central B.C.'s Toodoggone region.Hudbay Minerals (TSX: HBM; NYSE: HBM) funded the $2.5 million exploration program. It also spent $1.15 million in 2018 to help Amarc acquire un...Read More
Australian gold miner Newcrest Mining (ASX:NMC) is betting big on Chile's geological gold potential by closing two deals with exploration juniors in the South American country, the world's top copper producer.The Melbourne-based company kicked off the week by signing an option agreement with Canada's Cornerstone Capital (TSX-V:CGP), which could result in the gold miner acquiring up to a 75% int...Read More
GABORONE - Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday.Mowana had a conditional $4 million working capital facility from Fujax Minerals and Energy Limited, from which it had drawn down $1 million.Copper prices on the international market have been re...Read More
Antipa Minerals (ASX:AZY), the company conducting exploration at a Western Australia-based copper project with partner Rio Tinto (ASX, LON, NYSE:RIO), said Tuesday it had so far failed to find any economically viable veins of ore at the asset.In an update Tuesday, the junior miner noted "weak mineralization" in the Folly target area that is part of the Citadel project, located in the Paterson pro...Read More
Global miner Anglo American (LON:AAL) is ending 2018 on a high note, the company reported Tuesday. Anglo expects total production for the year to be 2% above of previous guidance, with costs decreasing by 5%."We are also confident about the outlook, with production expected to increase by 3% in 2019, with cost inflation fully absorbed by our productivity and cost improvements," chief executive M...Read More
The recent stock-market selloff is persisting, fueling mounting worries among investors. The intensifying volatility and lack of a quick rebound higher is strangling euphoric sentiment, spawning self-reinforcing selling pressure. Scoffed at a few months ago, the notions that a young bear market is underway and a recession looms are gaining traction. The great beneficiary of this ominous stoc...Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsCapstone said Monday the polymetallic underground mine now boasted 89% more compliant reserves at 6.2 million tonnes gr...Read More
The impending battle for control of DR Congo - and its mineral riches - threatens further pain for miners. The 23 December presidential, provincial and legislative elections are likely to have one of two outcomes. The first scenario, our base case, is a dubious electoral victory for Emmanuel Ramazani Shadary (anointed successor to the current president) and his incumbent electoral grouping, the FC...Read More
Pan Global Resources (TSXV: PGZ) was granted a mineral exploration permit on the Escacena gold / copper / zinc prospect in the Iberian Pyrite Belt in southern Spain. In a press release, the Vancouver-based miner said the Escacena Investigation Permit was granted and a formal notice was received by current owner EVALAM 2003 SL. Yet, Pan Global has a binding Letter of Intent with EVALAM, providing t...Read More
CHILE - Over the last 15 years, Newcrest Mining has discovered gold deposits in Australia, Papua New Guinea and Indonesia and continues to explore and evaluate prospects in those countries as well as in many others including Fiji, North America, Mexico, Cote d'Ivoire, Chile, Argentina, and Ecuador.This week it signed an option agreement in Chile to earn up to a 75% interest in Cornerstone Capital...Read More
NEW DELHI - India's environmental court on Monday said it will issue its judgment in one week on whether to allow Vedanta Ltd to re-open its copper smelter, which was closed earlier this year after 13 people died when police fired on protesters.A panel of experts set up by India's National Green Tribunal, informally known as the environmental court, in November said authorities in Tamil Nadu state...Read More
KINSHASA - Democratic Republic of Congo's state mining company Gecamines said on Monday it would increase its stake in its Boss Mining joint venture with ENRC Africa Holdings to 49 percent after the two companies renegotiated terms.The state miner is moving to increase its take from joint ventures with international miners such as Glencore and China Molybdenum, which it accuses of not bringing eno...Read More
Capstone Mining (TSX: CS) released today positive results of an updated technical report for its Cozamin mine, located north-northwest of Zacatecas City in the Mexican north-central state of the same name.Cozamin is a polymetallic underground mine with a surface milling facility.According to the updated report on the operation, Proven and Probable Mineral Reserves increased significantly compared...Read More