When a mineral processing plant runs out of ore near by, its days are numbered. The capital equipment often becomes nothing more than a tax write-off. The businesses and people that depend on servicing the plant suffer. The continent is littered with ghost towns from booms that went bust.Up in Manitoba, Canada, near Flin Flon, a processing facility that was down to its last four years of ore could...Read More
1. Tailings rules tightenedB.C.'s Ministry of Energy and Mines marked the two-year anniversary of the Mount Polley tailings dam breach by announcing updates to the province's mining code, including new criteria for the operation of tailings ponds. In all, the government's mining code revisions addressed 20 of the 26 recommendations outlined in the reports of the independent expert panel and the ch...Read More
Dec 21 (Reuters) - Canadian stock futures were lower on Wednesday, indicating the market was set to snap a four-day winning streak.March futures on the S&P TSX index SXFc1 were down 0.06 percent at 7:15 a.m. ET.No major data is scheduled for release.Canada's main stock index rose on Tuesday, led by financial stocks and materials producers, including precious and base metal miners and fertilizer co...Read More
(Repeats item issued earlier. The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellLAUNCESTON, Australia, Dec 21 (Reuters) - It's that time of year when crystal balls get taken out and polished up, but forecasting commodity markets for 2017 is less certain than usual given the unpredictability of the three main likely drivers.After a largely stellar year in...Read More
Investing.com - Gold prices struggled near last week's 11-month lows on Wednesday, as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh.Gold for February delivery on the Comex division of the New York Mercantile Exchange inched up $1.75, or 0.15%, to $1,135.35 a troy ounce by 4:10AM ET (09:10GMT), after falling $9.10, or 0.8%, in the prior sess...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellLAUNCESTON, Australia, Dec 21 (Reuters) - It's that time of year when crystal balls get taken out and polished up, but forecasting commodity markets for 2017 is less certain than usual given the unpredictability of the three main likely drivers.After a largely stellar year in 2016, the outlook for major...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More
In November, Gold Reserve (OTCMKTS:GDRZF, CVE:GRZ) and Venezuela agreed to rework the terms of a $770 million settlement relating to the seizure of the company's Las Brisas gold-copper mine in 2008.Under the new deal, the initial payment by the South America nation battling a severe economic crisis, was reduced to $300m from the $600m in the agreement signed in February. At the time Gold Rese...Read More
A recently found deep-sea creature, an octopod dubbed "Casper" after the friendly cartoon ghost, could be seriously affected by seafloor mining as it lays its eggs atop areas that contain valuable metals, scientists say.According to a study published this week in Current Biology, the mollusc -so freshly discovered that experts haven't even figured out what creature it might be most closely related...Read More
Investing.com - Gold prices edged lower on Tuesday, as the U.S. dollar bounced back toward its 14-year high against a basket of major currencies with markets focused on the possibility of further U.S. interest rate hikes next year.Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $7.95, or 0.7%, to $1,134.75 a troy ounce by 3:25AM ET (08:25GMT), after rising...Read More
(Adds company news item, updates items and futures)Dec 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down about 0.2 percent on Tuesday, according to financial bookmakers, with futures FFIc1 down 0.04 percent ahead of the cash market open.* The UK blue chip index closed up 0.1 percent at 7,017.16 points after a choppy session on Monday, led higher by a rise among more defensive stoc...Read More
Dec 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down about 0.2 percent on Tuesday, according to financial bookmakers.* The UK blue chip index closed up 0.1 percent at 7,017.16 points after a choppy session on Monday, led higher by a rise among more defensive stocks, including pharma firms such as Hikma HIK.L and Mediclinic MDCM.L , as well as Reckitt Benckiser RB.L and Unileve...Read More
(Adds details, quotes from company spokesman)LUSAKA, Dec 20 (Reuters) - Konkola Copper Mines (KCM), owned by Vedanta Resources < VED.L>, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, a state-owned company involved in the dispute said.The claim relates to outstanding payments under a 2013 copper price participation s...Read More
LUSAKA, Dec 20 (Reuters) - Konkola Copper Mines (KCM), owned by Vedanta Resources < VED.L>, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, the state-owned company said in a statement.The claim relates to outstanding payments under a 2013 copper price participation settlement agreement entered into between Zambia Cons...Read More
The copper price hit an 18-month high on an intraday basis at the end of November, buoyed by a rebound in top consumer China and a hopes of stronger economic growth in the US.But the metal has been mostly in retreat this month as doubts creep in about the impact of president elect Trump's fiscal stimulus plans and a stronger dollar prompts profit-taking.On Monday copper for delivery in March, t...Read More
Canadian junior Wealth Minerals (TSX-V:WML) said Monday it has signed a letter of intent to acquire one of Chile's attractive lithium projects located in the country's north, known for its vast salt flats under which experts say there is enough of the commodity to supply the world for decades.The project, known as Laguna Verde, comprises 23 concessions for a total of 2,438 hectares, with total inf...Read More
Brazil's Vale (NYSE:VALE), the world's largest iron ore and nickel miner, said Monday it will sell most of its fertilizer business to US-based Mosaic Co. (NYSE:MOS), the No.1 producer of phosphate fertilizer, in a deal worth about $2.5 billion.The transaction, part of Vale's strategy to cut debt and focus on its core businesses, excludes the nitrogen and phosphate assets in Cubat??o, Brazil, which...Read More
Investing.com - Gold prices edged up during European hours on Monday, extending its recovery from ten-month lows as the U.S. dollar pulled back from recent highs.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $4.55, or 0.4%, to $1,141.95 a troy ounce by 2:55AM ET (07:55GMT), after rising $7.60, or 0.67%, in the prior session.Prices of the yellow meta...Read More
(Adds futures, company news item)Dec 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,022 on Monday, according to financial bookmakers, with futures FFIc1 up about 0.5 percent ahead of the cash market open.* The UK blue chip index closed 0.2 percent higher on Friday at 7,011.64, building on a seven-week high hit the previous day and buoyed by a rally among oil stocks...Read More
Dec 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,022 on Monday, according to financial bookmakers.* The UK blue chip index closed 0.2 percent higher on Friday at 7,011.64, building on a seven-week high hit the previous day and buoyed by a rally among oil stocks, though IT firm Micro Focus MCRO.L dropped after a rating downgrade. IAG: Talks aimed at averting a p...Read More