Chemicals firm SQM, one of the world's top lithium producers with access to lucrative reserves in northern Chile, and Canadian junior miner Lithium Americas Corp (LAC) have set 2019 as the date to begin operations at their recently formed joint venture in Argentina.As announced last month, the companies are working on an updating the feasibility study for the Cauchari-Olaroz project, which is for...Read More
Geoscience BC is releasing the results of an innovative tree-top sampling program led by Noble Exploration Services Ltd. The study looked at whether trace amounts of metals found in spruce trees could lead prospectors to the next big mineral discovery. As part of the TREK project, a total of 421 side-branch samples, comprising one kilogram of twigs and needles, were systematically collected near...Read More
Chile's Codelco, the world's No.1 copper producer, has scrapped its plan to build a new mine at its El Salvador division and, instead, will extract the riches from the nearby Inca deposit by gradually expanding the current pit."While plans to expand Salvador, known as the Rajo Inca project, have not even reached pre-feasibility stage, the company has already decided that it's not building a new mi...Read More
Imperial Metals (TSX:III) has announced Huckleberry Mines has recalled 44 of the 85 employees that had been laid off from its open-pit copper mine near Houston, British Columbia, in January.The company, which has a 50% stake in Huckleberry Mines, had said at that time the 260-person workforce was being reduced due to low copper prices. In February, it put all other employees on notice, telling the...Read More
The World Bank sided with Crystallex over the Venezuela government and awarded the Canadian gold miner on Tuesday US$1.202 billion plus interest for the unlawful expropriation of Crystallex's investment in its Las Cristinas mining project.In 2011 Crystallex filed the arbitration request with the World Bank's International Centre for Settlement of Investment Disputes. During the same year the compa...Read More
Careful handling these minerals.911 Metallurgist and Mining Examiner compiled a infographic showing seven minerals that can be harmful if not handled properly.See the full list here.See the full list here.Read More
Toronto Ontario, April 8, 2016 - Nautilus Minerals Inc. (TSX:NUS, OTCQX:NUSMF, OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus") announces that it has received gross proceeds of C$28,263,829.65 as a result of the closing of its rights offering through the issuance of an aggregate of 188,425,531 common shares at the subscription price of C$0.15 per share, representing approximately 2...Read More
Chile-focused copper miner Antofagasta Plc (LON:ANTO) announced Friday that Diego Hernandez is retiring as chief executive of the company and will be succeeded by Ivan Arriagada effective immediately.Arriagada took the helm of operating unit Antofagasta Minerals in February last year, at the same time as Hernandez moved from that role to run the parent company, owned by the Luksic family, one of C...Read More
Lundin Mining Corp., the base-metals company founded by the billionaire Swedish Lundin family, likely has one or two more acquisitions in its future - but is in no rush to get there."We'd like to have five or six operating mines that all have a decent life and a decent quality," Chief Executive Officer Paul Conibear said in an interview this week from the company's Toronto headquarters. "We ha...Read More
Last week Glencore announced plans to invest more than $1.1 billion in its Mopani copper complex in Zambia over the next two years.The investment, which will help improve the mine's operational efficiency and extend its life, is credit positive for the Southern African nation because it will help drive growth says ratings agency Moody's.Glencore's expansion and upgrade plan for 75%-owned Mopani wi...Read More
Canada has released a final version of its rules governing extractive sector transparency, which forces all publicly listed local miners to report payments including taxes, royalties, fees and production entitlements of $100,000 or more to governments both home and abroad.The Extractive Sector Transparency Measures Act, which came into force in June last year, requires large Canadian oil, gas and...Read More
Range bound trading session continued in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was down 137.33 points or 0.55% at 24,763.30. The losses for the Sensex were higher in percentage terms than those for the Nifty 50 index. The Nifty was currently down 33.85 points or 0.44% at 7,580.50. The Sensex failed to retain the psychologically important 25,000 level which it had...Read More
Workers at Freeport-McMoRan's (NYSE:FCX) Cerro Verde copper mine in Peru will begin Friday a 48-hour strike to protest what they describe as the near disappearance of their profit-sharing bonus this year.The Arizona-based company, which own a majority stake in the mine, has informed workers they are scheduled to receive an average bonus of $146 (483 soles) this year based on 2015 profits, down fro...Read More
While global copper production was up 3.5% in 2015, Chinese output declined.At 1.66 million tonnes, China's mine production accounts for 8.7% of global supply of just over 19 million tonnes last year. That contrasts with Chinese demand for the metal which is expected to grow to 46% of worldwide copper consumption by 2018.China is the world's number two producer but is likely to be overtaken by Per...Read More
Reviving an underused technique on the TSXRights issues are the best way of raising funds in a way that does not disadvantage existing shareholders+ The practice is the established norm in the London and Australian markets+ With the paucity of funds from traditional flippers that Bay St cultivates for privateplacements, the rights issue may be about to return to its p...Read More
The latest edition of the closely followed GFMS Annual Copper Survey forecasts primary production to continue to grow over next three years, albeit at a slower pace than in the recent past, as miners deliver on investments made during the boom years.World mine production was up 3.5% or 652,000 tonnes in 2015 to just over 19 million tonnes, compared with a 2.1% increase in 2014, but down substant...Read More
Shares in copper and gold giant Freeport-McMoRan (NYSE:FCX) showed little reaction on Tuesday to news that the company is removing the top management of its oil and gas business and reintegrating the operation into the larger group.The Phoenix-based company announced in October that it's trimming its board and reviewing the oil and gas division which could include an outright sale, but today's...Read More
Aerial view of Codelco's Andina (left) and Anglo American's Los Bronces (right-front) copper mines in Chile. (Image from archives)Embattled miner Anglo American (LON:AAL) has reiterated it won't sell its stake in the Los Bronces and Collahuasi copper mines to Codelco or any other rivals, despite its plans to raise between $3bn and $4bn this year by offloading assets."We don't need to sell them. A...Read More
A map of British Columbia's "Golden Triangle" - IDM Mining PhotoThis is a story about past, present and future in a mineral-rich corner of the North American continent. High-grade gold mines like Snip and Eskay Creek helped give northwestern British Columbia its Golden Triangle moniker. If those two operations are symbolic of the region's rich past, Red Chris holds a strong claim on the present.Th...Read More