BHP Billiton has signed a new native title agreement with the Banjima People in Western Australia.The BHP Billiton Banjima Comprehensive Agreement covers an area of 8263 square kilometres and includes a number of the Company's Pilbara-based iron ore operations and most of the Banjima Native Title determination area.BHP Billiton Iron Ore President, Jimmy Wilson, said the agreement was believed to b...Read More
Codelco's Chuquicamata copper mine, Chile. (Image courtesy of Codelco)While miners, analysts and media worldwide remain focus on the difficulties the sector is facing and the uncertain outlook for a turnaround in the near term, those in Latin America has managed to remain optimistic, a new report shows.According to a study by international law firm Dentons, in association with the Mining and Inve...Read More
The Rio Algom mine closed in 1992. The pit - 1.5 kilometres long, 0.5 km wide and 60 metres deep - was then flooded, with runoff directed to a tailings pond for treatment. (Image by Fred A. Hatfield | Flickr Commons)Canada's Avalon Rare Metals (TSX:AVL), until now mostly known for its incursion in the rare earths market, says it's quite advanced on a $1.3 million work program in South-western Nova...Read More
Image: Screenshot from Global TV.Prime Minister Justin Trudeau launched a new era in Canada federal politics Wednesday as his majority Liberal government took office and a cabinet of political veterans and rookie MPs was sworn in.One of them was Winnipeg businessman and Liberal South Centre MP, James Car (64), who became the country's new Minister of Natural Resources.He'll have to deal with touc...Read More
Glencore's CEO Ivan Glasenberg is trying hard to reassure nervous investors and creditors that the company can cope with its hefty debt load amid the latest commodities rout.Shares in debt-laden Glencore (LON:GLEN) climbed on Wednesday after the mining and commodities giant said it is turning it around faster than expected following a series of asset sales, production cuts, and a key silver strea...Read More
Image of workers at GJ property from Skeena Resources.Skeena Resources Limited (TSX.V: SKE) ("Skeena" or the "Company") is pleased to announce that it has completed its previously announced acquisition of a 100% interest in the GJ property (the "GJ Property") from majority owner Teck Resources Limited (TSX: TCK) ("Teck") and its 49% joint venture partner, NGEx Resources Inc. (TSX: NGQ) ("NGEx"). T...Read More
Chile's state-owned copper giant Codelco's announcement today of another round of layoffs is just the latest sign of an industry under stress. Copper has recovered from six-year lows struck late August on the back of supply cuts by major producers but at around $2.30 a pound or $5,000 per tonne on Tuesday there isn't much breathing room for producers.The latest estimates by the Lisbon-based Intern...Read More
Silver Wheaton (NYSE:SLW) announced on Tuesday a deal to acquire a portion of future silver output from Glencore's (LON:GLEN) Antamina copper mine in Peru for $900 million cash.As part of the streaming deal, Silver Wheaton will make ongoing payments of 20% of the spot price for silver for every ounce of metal delivered.Silver Wheaton will receive from Glencore an amount equal to 33.75% of the Anta...Read More
Codelco's chief executive Nelson Pizarro says the "painful, but necessary" move has not affected production.Codelco's chief executive Nelson Pizarro is following through with his promise of cutting costs "to the bone" as the Chile-owned miner announced it has cut almost 3,900 jobs, including contractors, in response to low prices and weak demand.Until now, the world's top copper producer had only...Read More
Construction at Eldorado's Skouries gold and copper mine.**UPDATED**Shares in Canada's Eldorado Gold (TSX:ELD) (NYSE:EGO) spiked Monday and were trading around 3.7% higher mid-day in Toronto yesterday, after Reuters reported that Greece's top administrative court had annulled a government decision that suspended the miner's operations in the country's north.The news were later denied by the co...Read More
What if you could tell before a press release comes out that a company is poised to be bought out, possibly at a nice premium? Sounds good, right? By watching historic patterns, that might just be possible. The Gold Report reached out to experts who have been around through enough cycles to know and asked for the clues they watch that an acquisition might be imminent. From location and early inves...Read More
The copper price is having a torrid 2015 as economic news out China continues to rattle investors and bears discount any positive developments from the world's number one consumer of the metal.The release of China's commodity-friendly five-year plan through 2020 released last week has done little to lift sentiment and even a stronger-than-expected reading of Chinese manufacturing activity released...Read More
Ben Graham value investing now exists in the mining space - the type of investing that Warren Buffet is famous for. But this is simply NOT supposed happen. Why? Because mining companies have reserves and resources in the ground, which are reflected in a company's share price... that is, in a normal market.Cecil Musgrave, publisher of Investorsguru.com, contends that today's market is so broken tha...Read More
The importance of going beyond environmental considerations when planning the lifecycle of mines to include socioeconomic considerations was among the topics raised at the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) at its annual general meeting, hosted by UNCTAD at the Palais des Nations, Geneva, on 27-29 October 2015.While mining continues to play a key...Read More
(Image courtesy of Peru's Government photo archives)Peru's former president Alan Garc?-a has kicked off his campaign for a third term with a promise to deliver economic growth of at least 6% a year mainly by attracting more mining investment.The 66-year-old long-time leader of the centre-left American Popular Revolutionary Party, said he planned to achieve such goals by reducing red tape to a min...Read More
Australian junior miners have decided to battle the capital drought afflicting the sector by turning to the Internet to raise funds.The growing practice, known as crowdfunding, consists on soliciting small amounts of money from a large number of people in order to fund a project or venture. But small miners and explorers have been somehow deprived of the innovative method in Australia due to some...Read More
Image: Thierry EhrmannThe end of China's one-child policy has grabbed all the headlines, but the Fifth Plenary Session of the 18th Central Committee of the Communist Party of China (to give its full designation) also outlined the direction of the world's second largest economy over the next five years.China's 13th five-year plan running from 2016 - 2020 is the first one approved by Xi Jinping...Read More
Kal Tire Chile's administration office and OTR tire retread and repair facility.Vernon, British Columbia-Kal Tire's Mining Tire Group officially opened today a new OTR tyre retread and repair facility near the port city of Antofagasta, in the heart of Chile's mining industry."Kal Tire has been supporting the Chilean mining industry for many years," says Pedro Pacheco, vice president operations, Ka...Read More
Construction at Eldorado's Skouries mine and processing plant.Canada's Eldorado Gold (TSX:ELD) (NYSE:EGO) logged Friday a third-quarter loss of $96.1 million, after reporting a profit in the same period a year earlier.The Vancouver, British Columbia-based miner said it lost 13 cents per share, and that total losses, adjusted for non-recurring costs, were 1 cent per share. Revenue for the period...Read More
Why are the eight tunnel boring machines (TBMs) used in London's mega Crossrail project all named after women (Phyllis, Ada, Elizabeth, Victoria, Jessica, Ellie, Sophia and Mary)? Why is the infamous TBM stuck underneath Seattle for the last two years called (Big) Bertha and why is Alice tunneling Vancouver's new Evergreen Line?Gizmodo's Factually picks up on a Los Angeles Times article, abo...Read More