Australian exploration and development Aurelia Metals (ASX:AMI) said on Friday it has begun discussions with miner and commodities trader Glencore (LON: GLEN), which it hoped would lead to the acquisition of the Swiss company's CSA copper mine."The company's high-level assessment is that CSA mine could potentially be a strategic fit for the company, consistent with our general view that further c...Read More
Eastern promise for PolarXSPONSOREDpolarxThe comptroller recommended the project's environmental licence be reversed as well as the permits awarded by the water authority. This is a possibility which will be pushed for by communities in Íntag that have rejected mining for years.The Llurimagua deposit has a resource of 982 million tonnes grading 0.89% copper and 0.04% molybdenum.Eastern prom...Read More
Eastern promise for PolarXSPONSOREDpolarxThe Phoenix, Arizona-based miner reported adjusted net earnings of US$67 million or 5c per share, compared to non-GAAP earnings of $679 million or 46c per share a year earlier. Analysts had on average called for earnings of 7c per share.Net income in the March period totaled $31 million or 2c per share, down from $692 million or 48c in the same period a yea...Read More
Eastern promise for PolarXSPONSOREDpolarxWith construction of the Pumpkin Hollow underground mine proceeding on schedule and within budget to kick-start a copper mining revival in the Yerrington Valley by the December quarter, Nevada CopperRead More
Anglo American (LON: AAL) released its first quarter production results on Thursday, reporting decreased production numbers, mostly because of planned disruptions at its metallurgical coaldivision, where production dropped 25%."Production is 6% lower in the quarter, with two planned longwall moves at metallurgical coal accounting for 80% of the reduction," chief executive Mark Cutifani said in...Read More
Despite unfavourable market conditions, the mining industry is staging a comeback thanks to highly publicized multi-billion mergers and acquisitions targeting mostly the gold sector.The aggregate valuation of all miners listed on the Toronto Stock Exchange (TSX) declined by 12.7% in 2018, to $253.9 billion, compared with a 10.8% decrease in the market capitalization of the entire TSX market, says...Read More
Freeport-McMoRan Inc, the world's largest publicly traded copper producer, posted a lower-than-expected quarterly profit on Thursday due to slipping production and prices for the red metal, sending shares down more than 9 percent.The results come amid a more than $15 billion project to expand Indonesia's Grasberg copper and gold mine from an open pit to an underground operation, a complex and time...Read More
Canada's mining industry started the year off on the right foot, with major deals including the Barrick-Randgold merger and Newmont's acquisition of Goldcorp, setting the tone for the sector.As a result, Ernst & Young's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies - rose 5% fin the January-Mar...Read More
Ivanhoe Mines (TSX:IVN) is ready to finish building its giant copper mine in the Democratic Republic of Congo after its largest shareholder pumped an additional C$612 million (about $454m) into the Canadian company.China's state-owned CITIC Metal is paying C$3.98 per share, a premium of 29% over Ivanhoe's last closing price. The investment, the second major one in less than a year, paired with the...Read More
Eastern promise for PolarXSPONSOREDpolarxCITIC is buying 153.8 million Ivanhoe shares at C$3.98 per share (C$612 million), a premium of 29% over the last closing price, which will boost its ownership stake from 19.3% to 29.9%.CITIC Metal's second major investment in Ivanhoe in less than a year will boost the company's available cash position to $1.3 billion when it closes in September, almost doub...Read More
Eastern promise for PolarXSPONSOREDpolarxCash and cash equivalents decreased $80.7 million during the quarter from $815.4 million to $734.7 million. Cash used in investing activities increased to $182 million from $150.7 million in the prior year period."This is a very exciting time for Lundin Mining. We are pleased with our results in the first quarter of 2019 with all mines operating well," said...Read More
Global Atomic's 'transformational discovery' changes everythingSPONSOREDglobal atomic corpAlkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesWestern Atlas drill-ready in NunavutSPONSOREDwestern atlas resourcesHow to monitor and manage your Tailings Storage FacilitySPONSOREDisometrixDay-to-day, mining entrepreneurs are likely to express great confidence...Read More
Eastern promise for PolarXSPONSOREDpolarxTeck has undertaken an internal process to look at which copper projects it wants to develop itself, which it will develop in partnership with other companies and which it will seek to monetise.Read More
Eastern promise for PolarXSPONSOREDpolarxThe met coal division, which CEO Mark Cutifani said had accounted for 80% of the quarter-on-quarter output reduction, produced 4.Read More
Eastern promise for PolarXSPONSOREDpolarxKAZ produced 70,000 tonnes of copper over the January-March period, up 4% year-on-year.Read More
The downside potential in precious metals discussed last week is playing out as Gold and gold stocks have broken down technically.The global economy appears to be firming and that is evidenced by a sustained rebound in global equity markets.As a result, the potential for a rate cut which pushed precious metals higher is now unwinding. That has caused the breakdown in precious metals and there is m...Read More
The world's top copper miner Codelco has added its first hybrid dumptruck to its fleet at its El Teniente mine, the company said on Wednesday, in a global mining industry that is increasingly seeking to reduce its emissions and environmental footprint.The so-called Load-Haul-Dump truck, known as an LHD, built by Japanese equipment manufacturer Komatsu, is expected to boost productivity by 10% to 2...Read More
Anglo American Plc is no longer a darling at JPMorgan Chase & Co.After almost three years of rating the mining giant's stock as overweight, the firm downgraded it to neutral on Wednesday citing a trio of concerns - shares no longer look as cheap, the company's 2020 earnings may see a cut and capital returns may be constrained in the first half of the year. Shares slid as much as 3 percent in Londo...Read More
BHP, Barrick Gold, Teck Resources and Antofagasta are a few of the major mining companies that, together with equipment suppliers and universities, have helped develop global guidelines on automation.The document, published this week by Canada-based Global Mining Guidelines Group (GMG), outlines a framework for miners to follow when considering adding autonomous equipment to their operations. It a...Read More
Chile-focused copper miner Antofagasta posted a 22.6 percent jump in first-quarter copper production and maintained its full-year output outlook, despite the possibility that China may ease stimulus measures which could hurt prices.Antofagasta said on Wednesday production in the quarter was bolstered by better quality ore and higher output, mainly at its Centinela mine, and kept its annual output...Read More