Shares in top gold miner Barrick Gold (NYSE:ABX, TSE:ABX) added more than 1% on Monday, making the most of gold breaking its fall to trade just above five year lows around $1,180 an ounce at the start of the week. It was revealed in filings to the US Securities and Exchange Commission on Monday that Soros Fund Management, a company founded by legendary hedge fund billionaire George Soros, had liqu...Read More
LAGOS, Nigeria, November 16, 2015/ - CSR-in-Action, Nigeria's premier business and ethical networking platform and consultancy for sustainability, has announced plans to host governments, captains of industry, experts and investors in the country's capital, Abuja, to stimulate meaningful exchange of ideas on how to unlock over $100bn potential in the extractive industries within the next four ye...Read More
More images from Ag??ncia Brasil FotografiasVale (NYSE:VALE) said on Monday that it would take several years for Brazil's Doce river to recover following a deadly tailings dam burst at an iron ore mine it jointly owns with BHP Billiton (LON:BHP, ASX:BHP).In an update Friday, BHP revealed that mine tailings-a mix of water, iron and other waste materials such as silica - extended 440 kilometres...Read More
With revenues of $50 billion a year and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector in particular than Caterpillar.The world's number one heavy equipment manufacturer has been hit hard by the decline in mining and construction - sales are down more than $15 billion from its peak just four years ago and...Read More
Krause and his team, which includes archaeobotanists and a large number of students from Goethe University, have been researching in the area for 15 years. (Image courtesy of Dr. R? 1/4 diger Krause)German researchers have detected traces of mining activity in Central Europe dating back to the Bronze Age, which resumed later in the early Middle Ages.Using the C14 method, which classifies the age o...Read More
The August 2014 tailings pond breach at Imperial Metal's Mount Polley mine has cost the company over $60 million to dateImperial Metals (TSX:III) had revenue of $56 million in 2015's third quarter, more than double the $23 million reported in the same period last year, the company announced November 12.Imperial began recording revenue from its Red Chris mine during the quarter after production com...Read More
Seemingly minor regulation has enormous consequences: NCPAA small statute in the Dodd-Frank Wall Street Reform and Protection Act is wreaking havoc in the Congo, according to a new report by National Center for Policy Analysis Senior Fellow David Grantham."Buried deep within the massive regulatory package is a conflict minerals statute that orders publicly-owned U.S. businesses to disclose to the...Read More
In New York trade on Thursday copper for delivery in December fell sharply after economic data out of China showed growth in fixed investment - a key driver of copper demand - at a 15-year low.After a week of declines copper traded at a day low of $2.1585 per pound or around $4,760 a tonne on Thursday, down more than 2% from Wednesday's close and the lowest since May 2009.Copper traded below today...Read More
"...The clear intention of The World Bank to collaborate with the NEXIM Bank towards a structured intervention in the Nigeria's solid minerals sector is quite expedient. More so, with commitment and firm resolve of President Muhammad Buhari to diversify the economy, revitalize the mining sector towards boosting job creation and enhancing foreign exchange earnings...." OryaABUJA, Nigeria, November...Read More
Anglo American's chief executive Mark Cutifani (Image from archives)Anglo American (LON:AAL) announced Thursday major changes at the senior management level, including the departure of its Brazil-based iron ore chief and a renewed focus on sales and marketing, as the stock continues to hit new lows.Paulo Castellari, who was in charge of bringing the company's long-delayed and costly $8.8 billion...Read More
Matthew O'Keefe, vice president and senior analyst with Dundee Capital Markets, says big gains-50% or greater-in mining equities can come when stocks get rerated. That typically happens when explorers make a significant discovery, developers turn into producers, and producers become even bigger producers. In this interview with The Gold Report, O'Keefe discusses two companies developing gold proje...Read More
The Bald Mountain open-pit gold mine is just one of the assets Barrick is unloading. (Image courtesy of Barrick Gold)Canada's Barrick Gold (TSX, NYSE:ABX), the world's biggest gold producer, is unloading four of its non-core Nevada mines for US$720 million in cash, and said Thursday it expects to sign at least one of the deal before year-end.The move would help the Toronto-based miner to meet its...Read More
New technology applied to the mining industry is disrupting methods that are decades old.In the process, billions of dollars will be saved.Learn in today's infographic how the "Industrial Internet", or the convergence of the global industrial sector with big data and the internet of things, is ushering in a new age of efficiency in mining.Courtesy of: Visual CapitalistThe Industrial InternetHOW IT...Read More
Few know and understand Qu?(C)bec-based mining projects like Eric Lemieux, mining analyst with PearTree Securities Inc. He understands that the low commodity price environment is hindering widespread exploration but explains that for companies with cash, exploration dollars go further in tough times. In this interview with The Gold Report, Lemieux provides some perspective on several brownfield ex...Read More
TORONTO, ONTARIO-(Marketwired - Nov. 11, 2015) - Telferscot Resources Inc. (CSE:TFS) ("Telferscot" or the "Company") is pleased to announce that it has entered into a Letter of Intent (the "LOI") to sell its 2,775 common shares or approximately 7.4% interest in Kolwezi Copper Corp. ("KCC") for USD 854,700 (the "Sale"). The Sale will close in two tranches. The first tranche of 575 KCC shares will c...Read More
Export Development Canada (EDC), one of the largest export credit agencies in the world, expects exports to pick up next year, basing such bullish prediction on the theory that dropping commodity prices - combined with the effect of quantitative easing - actually means world demand is coming back.The agency is predicting 7% growth in exports in 2016, following 2015's dismal 1% decline, largel...Read More
The Minerals Council of Australia has today released a new publication The Whole Story that details the contribution that Australia's mining industry makes to communities across Australia.While Australia's natural resource endowment is central to national wealth, the minerals sector largely operates out of sight of most Australians. As a result, the significant contribution the sector makes to c...Read More
A quarry picture from Edward Burtynsky.Canadian artist and photographer, Edward Burtynsky, was lauded by the New York Times for his pictures of copper mines.The large panoramic aerial photos by Burtynsky capture the awesome scale of big open pit mines:Open-pit mines are wounds we've inflicted, and the wonderment they excite easily becomes tinged with pangs of remorse or dread. Burtynsky calls that...Read More
Teck plans to reduce the workforce at Highland Valley Copper by six per cent.United Steelworkers local 7619 says it was informed of the cuts by Teck on Thursday. Cuts will take place next year.Highland Valley Copper employs approximately 900 people, nearly half of them living in Kamloops.Non-union contractors will feel the brunt of the labour reductions.In its recent quarter Teck Resources (NYSE...Read More
Copper moved back into a bear market with a sharp decline on Thursday with year to date losses now topping 20%.On Thursday in New York trade December copper gave up 3.1% hitting a day low of $2.2505 a pound ($4,960 a tonne). In August copper fell to a six year low of $4,888 a tonne.The red metal's latest leg down is blamed on worse-than-expected manufacturing data from Germany, the world's...Read More