Agnico said it had sold half of its interest in a pre-arranged trade for C$14.9 million at 33.5c a share, Belo Sun's 30-day volume weighted average price.It granted the purchaser an option to acquire its remaining Belo Sun stake within 60 days and said if the option wasn't exercised, it would "dispose of the remaining common shares … in an orderly fashion as market conditions permit".Belo S...Read More
It produced a record 1.2 million carats during the three-month period, up 20% year-on-year, bringing the total for the nine months to March 31 to 3.4Mct, rising 13% from the previous year.Read More
In an update on the situation Monday, mining industry representatives said they were engaging constructively with civil society, a member of the mining code revision tri-partite group and other key interested groups, although there had been no response from the ministry of mines.They proposed at the end of March that a sliding scale of royalty rates be linked to the prices of key commodities, copp...Read More
La Générale des Carrières et des Mines (Gécamines) is pushing to dissolve Katanga's 75%-owned DRC operating subsidiary Kamoto Copper Company (KCC) for failing to address its previously disclosed capital deficiency.Read More
It said it was currently in its annual bargaining period and the La Arena Union had indicated it wanted workers to be paid a higher amount of profit sharing than was established under Peru's labour law.Read More
The mining industry is emerging from a years-long funk, with the attention of bankers turning from distressed asset sales to opportunities to fund growth. Executives are less likely to believe in vague prophesies of technological salvation and more likely to be automating processes and building up sensor-driven data collection, while at least one advisor awaits the emergence of premium commodity p...Read More
The Swick Mining Services offshoot will formally launch its brand and new facility in Bassendean, a suburb of Perth in Western Australia, at the start of May. The event could draw 100 or so people - there is plenty of room inside and outside the new HQ - and some will be coming back for a second or maybe even third look at the future of drill-core analysis.Read More
South32 subscribed for 40% of the offering, with Electrum Strategic Opportunities Fund taking around 20%, the Baupost Group taking roughly 10% and Selz Capital taking about 4%.Read More
On the line this week…Frank Holmes, CEO, US Global InvestorsFrank Holmes is the CEO and chief investment officer of US Global Investors. A Mining Journal mining fund manager of the year and regular Mining Agenda contributor, he bought a controlling interest in US Global Investors in 1989 and became the firm's chief investment officer in 1999. More than 40,000 subscribers follow his weekly c...Read More
A group of researchers from Berlin's Humboldt University published a study where they say that mining activities are the leading cause of social conflicts in Peru.According to the study, which is titled "Alternatives for the development of Peru's mining regions," one of the reasons that explains the unrest is the fact that the country's economic policies do not allow for a large royalty collection...Read More
Researchers from the University of California San Diego and the Massachusetts Institute of Technology are advocating for collaborations between academia and industry when it comes to finding a balance between exploiting mineral resources from the seabed and protecting vulnerable marine ecosystems.Matthew Alford, a physical oceanographer with the Scripps Institution of Oceanography at the UC -San D...Read More
Newtrax is an emerging IoT technology leader in the niche underground hard rock mine market.It was selected by Gold Fields to provide a mine-wide asset tracking and proximity detection system at the Invincible gold mine, part of the company's large St Ives camp near Kambalda in Western Australia.The sale is strategically important for Newtrax as it builds its presence outside the Americas. It face...Read More
Investing.com - Gold prices headed lower on Friday as a rebound in the dollar put downward pressure on the precious metal.Comex gold futures fell $10.60, or around 0.8%, at $1,338.20 a troy ounce by 10:26AM ET (14:26GMT).With geopolitical tensions fading into the background, a 0.6% rise in the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six m...Read More
(Bloomberg) -- After two weeks of extraordinary trading, investors are taking stock of the fallout from U.S. sanctions against Russia’s United Co. Rusal.Aluminum and nickel surged this week as global supply chains were disrupted by the sanctions. Major shipowners and Japan’s buyers are among the latest to cut dealings with Rusal, the world’s biggest aluminum maker outside of Chin...Read More
Investing.com - Gold prices continued the downward trend on Friday, adding to small weekly losses in relatively static trade.Comex gold futures fell $5.30, or around 0.4%, at $1,343.50 a troy ounce by 4:07AM ET (8:07GMT).With geopolitical tensions fading into the background, the precious metal was on track for weekly losses of just 0.3% and is off just 0.2% so far in April in what has been a large...Read More
SANTIAGO, April 20 (Reuters) - Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76 million tonnes of the red metal in 2018, up 4.3 percent from 2017, while estimating copper prices at $3.06 per pound this year.The projections follow a difficult year for the world's top copper producer in 2017, after workers at BHP's Escondida copper mine, the world's largest, walked...Read More
Investing.com - Gold prices moved higher on Thursday, supported by weakness in the dollar and concerns over the eventual U.S.-North Korea summit.Comex gold futures gained $1.30, or around 0.1%, at $1,354.80 a troy ounce by 4:18AM ET (8:18GMT), while the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, slipped 0.03% to 89.32.A...Read More
(Adds company news items and futures)April 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 6 points higher at 7,323 on Thursday, according to financial bookmakers, with futures FFIc1 up 0.12 pct ahead of the cash market open.* UNILEVER: Unilever ULVR.L , the Anglo-Dutch consumer goods giant, reported first-quarter sales that met expectations, helped by volume gains, and maintained...Read More
April 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 6 points higher at 7,323 on Thursday, according to financial bookmakers.* BHP BILLITON: BHP Billiton BLT.L cut its 2018 fiscal year iron ore output guidance on Thursday citing issues in its railroad car unloading system, while also slightly raising its copper output expectations given higher production at the Escondida mine. ASTRA...Read More
Gold remains largely forgotten, off the radars of most investors. But that's likely to change soon as this leading alternative investment is nearing a major bull breakout. Once gold climbs to decisive new bull-market highs, sentiment will turn and investors' interest will surge. Their resulting buying will rapidly drive gold higher, attracting in more capital inflows. Gold is only a couple m...Read More