Saudi crude oil production hit an all time high 11.1-11.3 million barrels per day (bpd) in November, Reuters reports, even as OPEC scrambles with cutting output to boost tumbling prices.Read full newsRead More
The cutbacks announced by GM Monday morning were more severe than most analysts expected - and were certainly steeper than leaked reports published late Sunday and early Monday had suggested.Read full newsRead More
Enforcer Gold Corp. (TSXV:VEIN) announces that it has received approval from the TSX Venture Exchange for a share consolidation (theRead full newsRead More
Newmont Mining's (NYSE: NEM) Ahafo mine in western Ghana started producing gold from an open pit in 2006 and now the underground portion of the mine has launched commercial production on schedule and within budget.Starting next year, Subika underground will add an average of between 150,000 and 200,000 ounces of gold production a year over the first five years of an initial mine life of about 10 y...Read More
Robust global steel output did nothing to stop a rout in iron ore prices on Monday with the seaborne benchmark cratering amid growing fears about an economic slowdown in China and the impact of a trade war between the world's two largest economies.Benchmark prices at the Chinese port of Qingdao of 62% Fe content ore fell 8% on Monday to trade at $64.25 per dry metric tonne, according to data suppl...Read More
* Majority ownership only applies now to diamonds, platinum* Some miners see scope for flexibility* Government to lay out frameworks to various mineralsLONDON - Zimbabwe does not plan to change its ownership rules for diamonds and platinum, its mining minister said on Monday, denting hopes among some miners the country will open up ownership as it announces mineral frameworks in coming weeks.Zimba...Read More
Toronto, Ontario - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (the "Company" or "Seabridge") announced today that it has closed its previously announced non-brokered private placement of one million common shares of the Company at a price of $14.00 per share for gross proceeds of $14,000,000. No commissions were payable on this transaction. The proceeds from the financing will be used to fund gener...Read More
Pilot study for a major vehicle manufacturerCollaboration with University of Liege that produces concentrates from recovered magnetsMontreal - Geomega Resources Inc. ("G?(C)oM?(C)gA" or the "Corporation") (TSX.V: GMA) is pleased to announce that Innord Inc. ("Innord"), a private subsidiary controlled by G?(C)oM?(C)gA, has entered into a collaboration agreement with University of Liege who is condu...Read More
MEXICO CITY - Former workers of Mexican miner Grupo Mexico plan to block access to the giant Buenavista copper mine on Dec. 1 to pressure the company and the country's incoming leftist government to give them back their collective labor contracts.The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010, following a federa...Read More
Mining Journal - Explore the leading publication for the global mining industry: Mining Journal provides an in depth analysis of the mining sector outlook and the latest developments.Read full newsRead More
Mr. Darrell Rader reportsMINAURUM SAMPLES 102 G/T GOLD AND 4.6% COPPER AT NEWLY DISCOVERED ALESSANDRA VEINMinaurum Gold Inc. has made its first high-grade gold discovery at the Alamos silver project in Mexico. The newly discovered Alessandra vein zone lies in the eastern part of the project, approximately one kilometre southeast of the Ana zone (see news release dated June 5, 2018).Alessandra meas...Read More
There is plenty of takeover glitter about Australia's $16.5 billion Newcrest Mining - and the question now is whether it is indeed gold.Read full newsRead More
Chile's state development agency Corfo plans to file an arbitration suit against US lithium miner Albemarle in two weeks, claiming the world's No.1 producer of the white commodity has failed to adhere to the terms of a contract dating back to 2016.Such document says Albemarle must provide as much as 25% of its annual production at a discount (or "preferential price") to companies seeking to produc...Read More
Commodity bull Goldman Sachs Group Inc. is undaunted by the sell-off in raw materials and is forecasting returns of about 17 percent in the coming months, describing the current situation as unsustainable and touting this week's G-20 meeting in Buenos Aires as a potential turning point."Given the size of dislocations in commodity pricing relative to fundamentals - with oil now having joined metals...Read More
MELBOURNE - A hive of mine exploration activity is underway in a remote corner of Western Australia's Great Sandy Desert, led by Rio Tinto Ltd , which has boosted its holdings 10-fold in the little explored Paterson province in the past year.Rio's interest in the area - flagged by its application for nearly 30 exploration licenses - has sparked a stampede into adjacent lots by other explorers, who...Read More
Mr. Steve Fray reportsGOLDMONEY INC. ANNOUNCES UPDATE OF DISTRIBUTION OF MENE INC. (TSXV:MENE)Goldmoney Inc. has provided an update on the pro rata distribution of Mene Inc. Class B subordinate voting shares to Goldmoney shareholders, as previously announced on Nov. 14, 2018. The details of the distribution are summarized in the attached table.IssuerGoldmoney Inc.SecurityCommon shares Issuer's sym...Read More
CAIRO - Saudi Arabia aims to raise the kingdom's mining revenues to $64 billion from $17 billion by 2030, Energy Minister Khalid al-Falih said on Monday.Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from hydrocarbons.Studies indicate that the level of the likely geological reserves in the kingdom exc...Read More
Mr. Ivan Bebek reportsAURYN IDENTIFIES MULTIPLE COPPER-GOLD DRILL TARGETS AT SOMBREROAuryn Resources Inc. has identified several kilometre-scale targets under copper-gold surface mineralization at its Sombrero project in southern Peru.The targets identified tend to begin at surface and can continue to a depth of 600 metres, representing more than one substantial opportunity for skarn and porphyry...Read More
Mr. Rudi Fronk reportsSEABRIDGE GOLD CLOSES $14.0 MILLION PRIVATE PLACEMENTSeabridge Gold Inc. has closed its previously announced non-brokered private placement of one million common shares of the company at a price of $14 per share for gross proceeds of $14-million. No commissions were payable on this transaction. The proceeds from the financing will be used to finance general working capital re...Read More
Roscan Gold (TSX-V: ROS) announced that it is moving forward with the development of its Kandiol?(C) Project and has just started a 3,500-metre Air Core drilling program, designed to test several of the numerous gold geochemical anomalies identified at the site.Kandiol?(C) is 100%-owned by the Canadian miner and it is located in the gold prospective Birimian Rocks of West Mali, east of B2Gold's Fe...Read More