Japan's top aluminium rolling company UACJ Corp is removing Rusal from its suppliers list for next year due to uncertainty over U.S. sanction against the Russian aluminium producer, its president said on Thursday."Given uncertainty over (the U.S. sanctions against) Rusal, we are removing Rusal for now from the list of suppliers from which we plan to procure aluminium ingots next year," UACJ Presid...Read More
Spearmint Resources (CSE:SPMT) announced today that it has acquired the 'Hammernose' gold prospect consisting of 5,140 acres directly bordering the strategic alliance between Westhaven Resources and Sable Resource in the Spences Bridge gold belt, which is located in Southern British Columbia, Canada.According to Spearmint, Spences Bridge is a 200-kilometre-long by 30-kilometre-wide emerging low-su...Read More
JOHANNESBURG- Sibanye-Stillwater's third-quarter core profit fell 40 percent after a wave of fatal accidents hit its domestic gold mining operations this year, the South African miner said on Thursday, sending shares tumbling.South Africa has the world's deepest gold mines and an earth tremor at one of Sibanye-Stillwater's mines killed seven miners in one incident alone in May. In all, 24 of its w...Read More
Japanese trading house Sumitomo Corp. on Thursday lowered its forecast for nickel output at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in the year to March 31, below its projection in May of 48,000 tonnes.Due to lower production amid bad weather and a slow ramp-up after a regular maintenance, Sumitomo now expects a loss of 13.6 billion yen ($120.47 million) from the Ambatov...Read More
From 1996 until 2010, Zone 87 at the Troilus mine in Quebec was responsible for the majority of the 2 million ounces of gold and 70,000 tonnes of copper that was produced at the open-pit mining operation.The Z87 pit ultimately ran 350 metres deep and had a strike length of about 900 metres.Now junior explorer Troilus Gold (TSXV: TLG) is trying to bring that zone and others on its property back i...Read More
Amid a lackluster gold market, Central banks' demand for gold remains robust, and overall consumer market demand is up 13%, a World Gold Council report on Q3 demand trends released today has revealed.The World Gold Council found that gold demand reached 964.3 tonnes in Q3, which was 6.2 tonnes higher year-over-year. Central bank buying reached a three year high in September, and emerging marke...Read More
Snapping up mining and mineral stocks can be a great route into investing for beginners - but with so much to choose from on the TSX index, picking a decently valued buy with enough relatively assured upside can be far from easy. One of the first things that newcomers tend to discover when they first start looking into how to invest in the stock market is that trading forums are packed with tips f...Read More
After nearly collapsing after a poorly conceived attempt at expansion, there are signs that dedicated palladium miner North American Palladium (TSX:PDL) is starting to unlock value for investors. For 2017 it recorded a record profit, and in early 2018 it launched a strategic review aimed at maximizing shareholder value. The latest results indicate that North American Palladium is delivering valu...Read More
October was a rough month for the TSX Index, and investors are now looking at the carnage and wondering which names might be setting up for a big recovery heading into 2019.Let's take a look at three market leaders that have taken a hit recently, but might be interesting picks for your TFSA portfolio today.Suncor Energy (TSX:SU)(NYSE:SU)Oil prices are moving in the opposite direction than most peo...Read More
Losing all of the 2018 gains was not a pleasant thing to face following Wednesday's close. Many traders (perhaps the dealer banks, as well) chose to treat the massive Wednesday sell-off as an opportunity to buy at a huge discount. Therefore, buyers outnumbered sellers on Thursday, slightly pushing the indexes back into the black for 2018.Friday trading started with another steep drop as we prepare...Read More
Yesterday's $22 gain was significant for a multitude of reasons. First, it was the most significant single-day gain since October 11, when gold traded from just under $1,200 ($1,198) and closed a respectable $30 higher, finally settling at approximately $1,227.80 per ounce. The significance of that gain was that gold pricing finally broke above multiple key levels of resistance. The first level go...Read More
Regulus Resources' (TSXV: REG) spin-out Aldebaran Resources (TSXV: ALDE) debuted on the Toronto Venture Exchange at $0.90 before tumbling to $0.59 in mid-afternoon trading.The company shares the same core management team as Regulus Resources and is focused on projects in Argentina.The recently formed junior explorer's primary focus will be the Altar copper-gold project, a large porphyry system i...Read More
(Kitco News) - Analysts are focusing on next week’s midterm elections in the U.S. and the Federal Reserve’s monetary policy meeting as gold tries to hold significant support above the $1,230 an ounce level.While the majority of analysts interviewed by Kitco remained bullish on gold price next week, many experts talked about uncertainty in the air due to Tuesday’s midterm election...Read More
Canada Cobalt Works (TSXV: CCW) (OTC: CCWOF) announced today that underground drilling on the first level of the northern Ontario Castle mine, specifically targeting cobalt for the first time at this historic silver producer, has returned high-grade cobalt, nickel and silver grades.Highlights: "These cobalt grades are very high in a global context and demonstrate the unique opportunity at the Cast...Read More
A century after many of Chile's mines in the arid northern region were first opened, finding copper, or lithium, or gold or silver isn't as easy as it once was. The concentration of minerals in the earth decreases as the miners dig deeper, meaning companies need to process more ore to extract the same amount of metal - a messy and highly polluting process to begin with. To fuel that effort, they...Read More
(Kitco News) - Central banks are not onlypurchasing more gold than in recent years, but a number of new buyers haveentered the fray.This includes Poland and Hungary,the first European Union nations to buy gold since the start of the century,said Junlu Liang, senior analyst with the consultancy Metals Focus. In the caseof Hungary, the central bank not only bought its first gold in 32 years, butalso...Read More
(Kitco News)- Wall Street looks for gold prices to rise next week, although many in the weekly Kitco News gold surveyalso described themselves as neutral at the moment due to uncertaintysurrounding U.S. midterm elections on Tuesday.Main Street remainedbullish.The Republicans are seenmaintaining control of the U.S. Senate, but news reports suggest Democrats havea chance to take control of the House...Read More
Shares in Australian Mines (ASX:AUZ) closed 25 percent higher on Friday in Sydney after the company announced it had partnered with an Indian firm to evaluate the use of scandium in next-generation battery storage technology.The Perth-based miner said its planned collaboration with India's Amrita Centre for Research and Development's Centre of Excellence in Advanced Materials and Green Technologi...Read More
Nov 02, 2018 Guest(s): Keith Neumeyer CEO, First Majestic Based on supply and demand fundamentals, there is currently a deficit in the silver market, said Keith Neumeyer, CEO of First Majestic Silver. "First Majestic is a member of the Silver Institute, and the Silver Institute does publish annual numbers, and these annual numbers show that the miners, globally, have produced 800 million ounces...Read More
Last week, two of Canada's largest gold miners reportedlosses for the third quarter, continuing a disappointing run that has seen theindustry struggle to attract investors. Barrick Gold (ABX) reporteda $412m net loss due to a $405m impairment on itsLagunas Norte project in Peru, while Goldcorp (GG) swungto a $101m loss from a net profit of $111m a yearearlier. These disappointing results were...Read More