Feb 14 (Reuters) - Barrick Gold Corp reported adjusted fourth-quarter earnings on Wednesday in line with market expectations and forecast gold production dropping over the next four years with mining costs seen flat to higher.Barrick, the world's biggest gold producer, said it expects to produce between 4.5 million and 5 million ounces of gold this year at a cost of between $765 and $815 an ounce...Read More
Mining and metals investors were piling into the sector's big names on Wednesday as gold jumped, base metals prices surged and iron ore continued to rally on optimism about global demand for raw materials ahead of a holiday week in top consumer China.Gold enjoyed its best trading since the Brexit vote in June 2016 on Wednesday. Copper bounced to above the $7,000 a tonne ($3.24 per pound) level...Read More
Shares in Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) were down almost 4.9% in New York premarket after reporting weaker than expected earnings for the three months to December and a 10% drop in revenue.The Vancouver, British Columbia-based company logged a profit of Cdn$700 million or Cdn$1.21 per share for the forth quarter of the year, compared to Cdn$9...Read More
The improvements at its copper and tin operations are coinciding with an uptick in commodity prices and the surge in cobalt has prompted a fresh look at its Wingellina project, which remains one of the world's largest undeveloped nickel-cobalt-scandium assets.Its tin business is going from strength to strength, however managing director Warren Hallam sees the Nifty copper operation in Western Aust...Read More
Fatality at Serabi mine: NMBCapital marketsPolarX points to upsideSPONSOREDpolarx ltdMOD has been in Botswana since 2011, discovering the T1 deposit (aka Mahumo), which has a small, but high-grade resource of 2.5 million tonnes containing 2% Cu and 50g/t Ag, the same year.Read More
ULAANBAATAR, Feb 13 (Reuters) - Mongolia will not put a cap on immigration in 2018, authorities said on Tuesday, after lawmakers rejected new policy proposals that set to put tough restrictions on the numbers of foreign workers in the remote north Asian nation.Some members of Mongolia's parliament sought to limit the number of new resident permits granted to foreign or stateless people to 100 per...Read More
Argentina's national government is pressing ahead with its intentions to make of mining one of the pillars of job creation, and it's holding talks with the leaders of the three provinces that declined to sign a 2017 mining act, which harmonizes taxes and regulations in hopes of attracting investment.Mining secretary, Daniel Meil??n, told local paper El Diario that the government wants the leaders...Read More
Shares in Seabridge Gold (TSX:SEA) (NYSE:SA) were soaring in pre-market trade in New York after the Canadian company bulked up again its already massive KSM gold-copper-silver project in northern British Columbia in both size and grade.Before the opening, Seabridge stock was already exchanging hands at $10.40, up 4.8% on the New York Stock Exchange, after hiking its estimated inferred gold and c...Read More
Mining giant BHP (ASX, NYSE:BHP) (LON:BLT) is taking a $1.8 billion hit from the major US tax reform package supported by President Donald Trump and passed by the Senate in DecemberThe Anglo-Australian miner said the charge, which will be treated as an exceptional item, consists mainly of a non-cash charge on deferred taxes of $898 million and another charge on foreign tax credits of $834 million...Read More
Rio Tinto (LON:RIO) has become the sole owner of Pistol Bay Mining's. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, by making a final payment of $1 million in cash.With the acquisition, the world's second largest miner is materializing plans of grabbing those three assets, which are located close to Cameco's McArthur River mine - the world's largest producing uraniu...Read More
A Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) worker died on Monday night while clearing a blocked ore pass at the company's Driefontein gold operation in South Africa, less than a week after a fall of rocks at its Kloof mine killed two people.The precious metals miner said investigations into the latest incident by management together with the department of mineral resources (DMR) and other releva...Read More
The board has approved the throughput capacity to increase 15% to 85 million tonnes per annum and a further increase to 100mtpa after 2022.Read More
The company said last week it had received bridge loans totalling US$4.75 million and expected further loans to form part of a larger secured structured credit facility of up to US$34 million, and was also working with M. Horn & Co on remaining project financing of up to $350 million."The overarching objective of the trial was to ensure that all three machines met the requirements of their res...Read More
Attorneys from Antofagasta's First Environmental Tribunal, together with company executives, researchers and conservation experts, visited, flew over and sailed around the site where Andes Iron's Dominga mine and port project would be located, in the central Coquimbo region. The trip was part of an evaluation process the court was prompted to undertake following Andes Iron's appeal of an August 20...Read More
The Association of Mineral Exploration in British Columbia recently awarded Seabridge Gold (TSX: SEA)(NYSE:SA) the 2017 Robert R. Hedley Award for excellence in social and environmental responsibility at its KSM project, which the company says is one of the largest undeveloped gold projects in the world measured by reserves.Inspired by the work at KSM, Brent Murphy, Seabridge Vice President of Env...Read More
Samsung SDI, South Korea's leading battery maker, has unveiled plans to recycle cobalt from used mobile phones and develop lithium-ion batteries with minimum content of the metal, or no cobalt at all, as a way to offset soaring prices for the silver-grey commodity.Carmakers are scrambling to secure supply of cobalt, a key ingredient in lithium-ion batteries that power electric vehicles, which pric...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 bullion producer, has scrapped its 2017 dividend after a long-running dispute with the government of the East African nation cost the company $700 million in annual loss.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), also said its gold output would drop in 2018 as a result of the ongoing ban on exports of metal concentrate, which represent...Read More
It was a rough week for investors in stocks and stocks of all kinds. The S&P 500 lost 5%. Emerging Markets also lost 5%. Gold Stocks, which had weakened before the broader equity market have been hit hard. They (GDX, GDXJ) also lost 5% last week. The HUI Gold Bugs Index (which excludes royalty companies unlike GDX) lost 7%. After a strong start to the year, gold stocks have essentially given b...Read More
CALGARY, Alberta, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to provide its shareholders an update on Carmax Mining Corp. (“Carmax”) (TSX-V:CUX). Copper Fox hold 60.4% of the shares of Carmax. Carmax has completed a compilation of all available historical and current dat...Read More
RESOURCEStocks: MOD has just announced a two-tier prefeasibility study for T3 which outlines a robust base case based on reserves and an expansion case using existing resources. What do you believe are the standout features of the base case scenario?Julian Hanna: The base case PFS model, in its own right as a standalone nine-year opencut mine, is very robust not just commercially but tec...Read More