Shares in Sandstorm Gold Ltd. (TSE:SSL, NYSE MKT:SAND) dropped sharply on Tuesday in heavier than usual volumes, after the company announced the signing of a production streaming deal with fellow Canadian miner Yamana Gold Inc (NYSE:AUY, TSE:YRI) and bought deal financing with a syndicate of banks.In early afternoon trade the Vancouver-based company was trading at $2.64, down more than 12.6% in...Read More
For investors willing to take a long-term view on their resource portfolios, this could be the best of times, says U.S. Global Investors CEO and Chief Investment Officer Frank Holmes. If you add patience to your portfolio management strategy, holding discounted oil and gas and metals mining stocks is one way to leverage the price equilibrium that will come when China's growth hits the market. In t...Read More
Slowing growth in China and Brazil, muted conditions in Europe and a weak recovery in the US will continue to pressure global base metal prices, says Moody's.Prices for iron ore, copper, nickel, aluminum and other metals have been in a multiyear slump amid sluggish growth in advanced economies and weakening expansion in emerging markets.Unfortunately, the trend won't be fading anytime soon, Moody'...Read More
Do you have wealth insurance? Tocqueville Gold Fund Portfolio Manager John Hathaway has studied the past and he sees a bright future for those who have taken the precaution of protecting themselves from the downside of a general bear market by buying resource mining stocks when they are at historic low prices. In this interview with The Gold Report, Hathaway shares the names the fund is holding as...Read More
The Australian Government has been called on to take more notice of the nation's important economic footprint in Africa."Australia has a key role to play in helping Africa realise its mineral potential and contributing to the African Union's Africa Mining Vision," Australia Africa Mining Industry Group (AAMIG) Chairman, Mr Bill Turner, said in Perth today."Over the past two decades, investment by...Read More
Is the bottom in? Rick has seen too many cycles to answer a question like that. Despite the many claims, truth is, nobody knows yet. But his previous call for a potential capitulation in October is likely off the table.Watch Interview with Rick RuleTalking points of this week's interview -?EUR? Is there more upside or downside??EUR? How a US dollar rally will impact the latest rally in miners??EUR...Read More
The mine, located at 4,000 metres in the south of the South American country, is set to deliver 400,000 tonnes of copper per year during the first five years of production placing it within the top three copper mines globally.MMG's Las Bambas copper mine in Peru, one of the world's biggest mines of the red metal, is on track to begin production in the first quarter of 2016, despite weak prices and...Read More
Staffing at the Myra Falls zinc and copper mine near Campbell River has been reduced to a skeletal level, with 88 workers laid off this week after the owner postponed capital projects at the site.Citing continued low commodity prices, Switzerland-based Nyrstar said Thursday (October 22) it has postponed funding of mine upgrades, which means the mine remains idle. Operations at Myra Falls were susp...Read More
The big accident could have been averted if the agency had had greater expertise and acted more prudently, according to a government assessment. (Image from archives)Results of a government probe released Thursday say the U.S. Environmental Protection Agency (EPA) is to blame for the blowout at the abandoned Gold King Mine in Colorado, which caused a massive spill of mining wastewater into local r...Read More
After five years of unrelenting declines only punctuated by a couple of false dawns (talking 'bout you nickel) green shoots are appearing in the metals and mining sector.There's BHP whipping up enough excitement with a "commodity premium" (whatever that is) to amass orders in excess of $13 billion for a bond offering. Unusually, lots of interest for the hybrid offering came from Asia according to...Read More
The company plans to further cut copper and molybdenum output, including a potential shutdown of its Sierrita mine (pictured) in Arizona. (Image courtesy of Freeport-McMoran)U.S. copper miner Freeport-McMoRan (NYSE:FCX) was the second company to announce Thursday it has swung to a third-quarter loss after a massive write-down tied to the firm's ailing oil and gas operations.The Phoenix, Ariz.-ba...Read More
Teck, the largest producer of steel-making coal in North America, said the write-downs reflect lower expectations for commodity prices.Canadian mining giant Teck Resources (TSX:TCK.A, TCK.B), (NYSE: TCK) swung to a loss in the third quarter of the year due to a $1.7 billion (Cdn$2.2 billion) asset impairment charge in its steel-making coal and other businesses.The Vancouver-based company, the lar...Read More
Australia's Clean TeQ Holdings Limited, a long-time industry leader in environmental remediation, has recently partnered with China's largest power generator to treat waste water with its unique continuous-ion technology. This technology also allows Clean TeQ to extract metals from minerals and industrial waste, but as Clean TeQ Chairman Sam Riggall explains in this interview with The Gold Report,...Read More
A recent survey of over 100 decision-makers at Latin American mines by Timetric's Mining Intelligence Centre (MIC) has found a higher share of respondents plan to invest in remote control equipment and machine automation technologies in the next two years, compared with any other technology.Respondents were asked to outline their attitudes and plans towards investing in a range of mine-site tech...Read More
Ivanhoe Mines' Kamoa project in the DRC is thought to hold the world's largest untouched high-grade copper discovery. (Image courtesy of Ivanhoe Mines)Canada's Ivanhoe Mines (TSX: IVN) expects to begin mining copper from its giant Kamoa project in the Democratic Republic of Congo in late 2018, as the company foresees a looming deficit in the market and rising global demand.The Vancouver-based mi...Read More
Escondida mine in Chile. Source: NasaIn its operational performance report BHP Billiton (ASX:BHP, NYSE:BHP) announced on Tuesday its first quarter iron ore production rose 7% to 61.3 million tonnes compared to last year and on track to meet full-year guidance of 247 million tonnes.The increased output was thanks to ramp-up of the Jimblebar mining hub at in Western Australia during its 2015 financ...Read More
The Boston Consulting Group, in conjunction with the World Economic Forum, released the Mining & Metals in a Sustainable World 2050 report last month.The report contained a table that neatly summarized the mining and metals value chain which totals nearly $2 trillion a year. For reasons not stated, the table contained in the report omitted silver.Using data from the Silver Institute for 2014 and a...Read More
Barrick Gold (TSE:ABX) announced on Monday that it's shutting down production at the Porgera mine in Papua New Guinea due to drought in the region brought about by the El-Nino weather effect.Output at the mine which was expected to produce between 400,000 - 500,000ounces of gold this year, had been halted due to low levels of water in the main reservoir. Barrick, the world's top producer of the pr...Read More
The miner will finish the expansion of Caraj??s, the world's largest iron-ore complex, next year. (2009 NASA satellite photo via Wikimedia Commons)Brazil's Vale (NYSE:VALE), the world's biggest iron ore producer, posted Monday a new record-high in seaborne production, with 88.2 million metric tons mined in the third quarter, which beat analyst estimates.But the Rio de Janeiro-based miner also sai...Read More
BHP's Olympic Dam copper, uranium and gold mine in South Australia, state which holds more than 80% of the country's total uranium resources. (Image courtesy of BHP Billiton)Australia's mining industry could enjoy a job and export growth boom given the right -policy settings in the uranium sector, according to a new report.The study, commissioned by the Minerals Council of Australia, found that...Read More