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
BHP Billiton and a security firm that guards major government buildings are among hundreds of Australian names linked to a Panama law firm that helps the rich hide money.The ABC's Four Corners program revealed the links involving the mining giant and Wilson Security as part of an investigation into a massive leak of 11.5 million documents from Mossack Fonseca.A Gold Coast businessman and a Hong Ko...Read More
In the final part of our probe into the curious case of Khan Resources, and the reallocation of its uranium mine to Russian control, we review events leading to the seizure of the company's Mongolian assets and its chairman's unusual death in an Ulaanbaatar hotel.In April 2015, a 59-year-old Canadian named James Doak travelled to Ulaanbaatar to negotiate with Mongolia's government.His company, Kha...Read More
By Gwen PrestonIt's been a bad few years for copper.Prices have been falling for five years. By last year the situation had deteriorated enough to prompt a slew mine cutbacks, totaling several hundred thousand tonnes.For several years now copper miners have been doing their all to make money despite the weak copper price. It's a process that starts with efficiency, with high-grading, with all the...Read More
In the second installment of the curious case of Khan Resources, we explore Khan's turbulent history in Mongolia and document a deal with Russia's leadership to swap Khan's uranium mines for hundreds of millions of dollars in aid and debt forgiveness.Even before Mongolia awarded itself the right to Khan's uranium deposits, the writing was on the wall.Speculation was rife that Russia was yearning f...Read More
Against expectations and in some instances seemingly in defiance of fundamentals, commodities managed to climb a wall of worry during the first quarter of 2016.While nervousness returned to the sector with a vengeance this week, many metals and minerals have clung to year-to-date gains.It's down sharply from an insane 19% jump in a single day to above $60 a tonne, but iron ore remains th...Read More