Canada's largest diversified miner, Teck Resources (TSX:TCK.B) (NYSE:TCK) logged Thursday better-then-expected quarterly revenue thanks mainly to a sustained rally in coking coal as well as the firm's cost-cutting measures implemented in the three months to Sept. 30The Vancouver-based company, the best-performing Canadian stock in seven years, swung to a profit of Cdn$234 million ($174.9 million...Read More
Energy Fuels Resources resumed shaft sinking operations at Canyon Mine in November last year. (Image courtesy of US Forest Service)Canada's Energy Fuels (NYSE MKT: UUUU; TSX: EFR), the largest conventional uranium producer in the US, has discovered high-grade copper at its Canyon project in northern Arizona, which is already the highest grade uranium mine being developed in the country.With this...Read More
The price of cobalt is set to double.The electric vehicle revolution will continue to reinforce the unquenchable demand for cobalt.Cobalt is primarily a by-product of nickel and copper mining and subject to extreme jurisdictional risk.Combine the growing supply-demand deficit with an unstable supply chain, you have the perfect recipe for the most extreme bull market within the mining sector in the...Read More
Mick Davis' X2 Resources, the mining fund once touted as the driver of much-needed investment into the mining industry during the worst of the commodities price rout, has freed investors from their financial commitments after failing to score any deals in three years.Relatively high assets valuations and an investor veto on deals frustrated Davis and his team in their search for mining bargains....Read More
Canada's Seabridge Gold (TSX:SEA) (NYSE:SA), the company behind the massive KSM project in northern British Columbia, considered the world's largest undeveloped gold-copper project by reserves, has just identified a large, untested target at another of its ventures in the region.Exploration at Seabridge Gold's 100%-owned Iskut project, which shares geological similarities with KSM, has revealed a...Read More
China's Zijin Mining Group and Shandong Gold Mining are said to be among the firms that have recently approached Canada's Barrick Gold Corp (TSX, NYSE:ABX) with the intention of buying a 50% stake in one of its Argentine mines.The potential sale of a 50% stake in Veladero mine could fetch Barrick more than $1 billion.According to sources familiar with the matter quoted by Reuters, both Asian mine...Read More
Shares in London-listed Botswana Diamonds (LON:BOD) climbed nearly 3% Tuesday after the company announced the discovery of a 1mm octahedron-shaped diamond while prospecting at Orapa.The company, which began exploring the area in March this year, said that specialists from its joint venture partner Alrosa are in the midst of reanalyzing 80 tonnes of samples that were sent to a processing facility...Read More
Shares in Anglo American (LON:AAL), the world's number five diversified miner, were up more than 5% Tuesday afternoon as investors cheered the company's third quarter results, which saw the firm increasing output across all divisions, except for copper.Anglo, which is in the process of selling off mines and slimming down its portfolio, said production of diamonds, its largest underlying earnings d...Read More
Zinc junior Callinex Mines (CVE:CNX) is up 10% to 54 cents after Resources Funds Capital acquired 18% of the company for $5 million."Callinex has signed a term sheet with Sprott for a $5m private placement. A fund managed by Rick Rule will be a lead order in the financing," said Callinex Mine's CEO Max Porterfield in a news release.The funds will be used for exploration at the newest discovery at...Read More
Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, were slightly down in pre-market trading Tuesday after the firm's reported revenue that fell short of estimates and lowered its full-year guidance.The Peoria, Illinois-based reported earnings, adjusted for non-recurring costs, of 85 cents per share on revenue of $9.16 bil...Read More
YouTuber CodyDon mixes a well-diluted dose of sodium cyanide, drinks it and suffers minor effects.The video is a good primer on sodium cyanide, an important mining agent."In case you are wondering the sodium cyanide tastes a bit like baking soda but smells like roasted almonds or crushed apple seeds; So now you dont have to try it yourself," writes CodyDon in the video description.Video is for edu...Read More
RENO, Nevada-A gathering storm of proposed federal land withdrawals including proposed sage grouse habitat, as well as stiffer mining bonding requirements under consideration by federal regulators is wreaking havoc on dwindling U.S. exploration programs.During the annual general meeting of the Nevada Mineral Exploration Coalition (NVMEC) in Reno this week, several speakers urged that independent a...Read More
Copper exports from MMG's giant Las Bambas mine in Peru, which came online this year, are set to resume later this month or early November after a 10-day stoppage caused by protests against the operation came to and on Monday, the company said."The Government of Peru and local communities have agreed a framework for future dialogue and cooperation in the region," MMG said in the statement. "The pr...Read More
Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, suffered Monday morning after the firm logged a 18% drop in global retail sales of equipment for the three-month period ended in September.While the Peoria, Illinois-based company has had more discussions about potential sales in recent months than in the last two or thre...Read More
Copper bulls might be tempted to place buy orders after a protest at a Peruvian mine turned ugly about 10 days ago.That's because supplies needed to allow Las Bambas, one of the world's largest copper mines, to keep operating are running out because access roads are being blocked by protesters following a death on Oct. 14. The mine just came online this year."Community roads are currently blocked...Read More
Mining Watch published a statement today saying that KGHM's proposed Ajax mine in Kamloops, British Columbia could face over $100 million in litigation or compensation costs. Taking as an example what's happening at Canada's only other urban mine of comparable size, the Malartic open-pit mine in Quebec, the watchdog group presented what it calls "conservative estimates" on possible actions against...Read More
A 22-year-old man died early Friday morning while performing maintenance work at La Escondida copper mine in Chile.The man was identified as Rudy Henry Ortiz Mart?-nez and he belonged to Cainsa, a subcontractor that works within the project 57.5% owned by BHP Billiton and 30% owned by Rio Tinto. Ortiz was working in the SAG mill and found himself stuck in the cap lining. His co-workers' efforts to...Read More
Despite upbeat results from companies operating in the country, official data released early this year shows that silver output in Mexico, the world's largest producer of the precious metal, has dropped over the past two years.Like much of the rest of the world, the country's mining industry saw very few new mines opening up in the period, marked by a sharp drop in commodity prices. Companies that...Read More
Mining giant Rio Tinto (LON, ASX:RIO), the world's second-largest iron ore producer, lowered its forecast on full-year exports from Australia, despite China's recent spike in demand is supporting prices of the steelmaking material.Rio now expects to ship 325 million to 330 million tonnes in 2016, down from its earlier guidance of 330 million tonnes.The diversified miner said third-quarter shipment...Read More
The chairman of the world's largest mining company, BHP Billiton (ASX, NYSE:BHP) (LON:BLT), has just announced he would not seek re-election at next year's annual general meeting (AGM).Nasser had intended to announce his retirement last year but chose to stay on at the mining company to provide stability as BHP dealt with the aftermath of Samarco.Australian Jac Nasser, who was appointed chairman...Read More