Rio Tinto (ASX, LON, NYSE: RIO), the world's second largest mining company, denied Wednesday a report released by a Dutch non-profit organization claiming it had dodged $700 million in taxes to Mongolian and Canadian authorities relating to its Oyu Tolgoi copper and gold mine.According to the Dutch Centre for Research on Multinational Corporations (SOMO), Rio and its Canadian subsidiary Turquoise...Read More
Egypt-focused gold miner Centamin (TSX:CEE) (LON:CEY) delivered good news to its shareholders on Wednesdays, announcing it would pay a final dividend of 10 US cents per share, or a total of $144 million, as it vowed to return all of its excess cash to investors.The payment, on top of 2.5 cents given at the half-year, follows an $111 million compensation to Egypt in 2017, the first year of Centami...Read More
To thrive in the mining industry's historical boom and bust cycle and capitalize on new opportunities, companies must rethink the traditional mining model. (Image: PlusONE| Shutterstock.)In the last 10 years, the mining industry has been on a roller-coaster, with commodity prices reaching both historic highs and lows, as well as operational realities shifting irrevocably in the face of a digital...Read More
U.S. President Donald Trump's decision to withdraw federal protections from millions of acres of Utah wilderness will reopen much of the iconic terrain to gold, silver, copper, and uranium land claims under a Wild West-era mining law, according to federal officials.Starting at 6 a.m. on Feb. 2 - the moment Trump's proclamation reducing the size of the Bears Ears and Grand Staircase-Escalante Natio...Read More
SHANGHAI, Jan 31 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) for January stood at 51.3 points, marking the 18th consecutive month it has been above the 50-point level that separates expansion from contraction. The reading, however, was lower than December’s manufacturing PMI and market expectation at 51.6 points. For editorial queries, please...Read More
Cobalt prices have been one of the main beneficiaries of the scramble for battery materials by auto manufacturers.The metal quoted on the LME recently topped $80,000 a tonne, a gain of 140% since the beginning of last year. Measured from its record low hit in February 2016, the metal is more than $50,000 more expensive.Negotiating a price for a streaming deal could be complicated by the limited si...Read More
Shares in Vanadiumcorp Resource Inc (CVE:VRB) slumped Tuesday after the company announced the preliminary economic assessment for its flagship Lac Dor?(C) project in Quebec is being reviewed by regulators.During lunchtime trade the Vancouver-based junior was exchanging hands for $0.14, down just shy of 10 % on the TSX Venture Exchange, in higher than usual volumes. The microcap is now worth $32.5...Read More
Mining giant Rio Tinto's (ASX, LON, NYSE: RIO) driverless trucks fleet has achieved a major milestone as it moved its one-billionth tonne of material in Western Australia's Pilbara region last month, the company said.The figure corresponds to roughly 25% of both ore and waste material hauled last year across the company's five sites in the Pilbara region, including the newly commissioned Silvergra...Read More
If a week is a long time in politics, six months is an age in a public company. And as 2017 Full Year Production Results & 2018 Guidance is published today, ordinary shareholders at Petropavlovsk (LSE: POG) may be beginning to question if the intentions behind last year's messy coup were entirely honest.To recap: after an astonishing 20-year run at Petropavlovsk, in which veteran gold-bug Pe...Read More
2017 settlement agreement provides clear path for project review and permittingVANCOUVER, Jan. 26, 2018 /PRNewswire/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") confirms the Environmental Impact Statement ("EIS") permitting process for Southwest Alaska's Pebble Project continues to advance under the guidance of lead federal agency, the US Army C...Read More
Shares in Petra Diamonds (LON:PDL) fell as much as 21% on Monday after the miner cut its forecast for 2018 earnings and said it will produce fewer precious stones as it focuses on recovering larger, more expensive rocks.The South African diamond producer, owner of the iconic Cullinan mine, which produced the diamonds for the British crown jewels, said it expected its 2018 fiscal year earnings to b...Read More
Gold and gold stocks have enjoyed an excellent rebound since their December lows. Over the past six weeks Gold rebounded from a low of $1238 all the way to $1365 in recent days. The miners meanwhile rebounded nearly 18% (GDX) and 21% (GDXJ). However, these markets are approaching important resistance levels and at a time when sentiment is becoming stretched and the US Dollar has become very overso...Read More
Story developed using data from Mining Intelligence. Learn more and schedule a demo.Most Toronto-based miners have addresses on Bay Street while Vancouver miners are evenly split between Hastings and Pender streets.Despite the commodity price shake out in 2015 and 2016, miners have mostly hung onto their downtown addresses."The mining sector occupies a large footprint in office and commercial sp...Read More
The last two editions of the World Economic Forum were somber affairs for oil industry chieftains and commodities tycoons. The consensus in Davos was that oil was going to stay low, OPEC would fail to lift prices, and the mining industry faced a difficult time.Roll forward to 2018 and there's been a near-universal shift in sentiment as strong and synchronized global economic growth drives demand f...Read More
Copper mining deals are off to the best start in at least 12 years - and more money could be pouring into the sector this year.More than $500 million in transactions are pending or were completed so far this month, the most recorded for January in Bloomberg data going back 12 years. Merger interest is picking up after years of under-investment limited mining companies' capacity to meet rising dema...Read More
Interview syndicated from Frank Holme's Frank TalkLast week the U.S. Global Investors office was visited by a living legend in the junior mining industry, billionaire founder and executive chairman of Ivanhoe Mines, Robert Friedland. In case you don't know, back in the mid-1970s, Robert was caretaker of an apple orchard south of Portland that one of his buddies from Reed College would often visit....Read More
LUSAKA, Jan 26 (Reuters) - A $1.4 billion lawsuit against Canada's First Quantum Minerals in Zambia will go ahead, a Zambian court ruled after dismissing the company's bid to stop the case.State-owned ZCCM-IH launched action in October 2016 to sue First Quantum for $1.4 billion over claims that the Canadian company borrowed $2.3 billion from its Zambian copper mining subsidiary Kansanshi Mining Pl...Read More
World's second largest mining company Rio Tinto (ASX, LON:RIO) has lifted force majeure on shipments of refined copper from its Kennecott unit in the U.S., 79 days after adopting the measure.The company halted production of refined copper at its smelter at the Utah-based mine on Oct. 8 after a worker was exposed to sulphur dioxide gases at the plant while removing debris from a boiler. The employe...Read More
Swiss miner and commodities trader Glencore (LON:GLEN) has begun hiring for a number of new positions at its Lady Loretta zinc mine in Australia, which is slated to reopen in the first half of this year.Production at the Queensland-based operation was halted in 2015 because of falling zinc prices. Since then, the metal has more than doubled, so Glencore - the world's No.1 zinc producer - announce...Read More
Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) said Friday it had begun additional exploration drilling at its 85%-owned Cascabel copper-gold project, 180 km north of the country's capital Quito.The Australian gold miner noted said efforts are now focussed on targeting high-grade extensions to the Alpala resource. It also said that an additional 13,384 metres of drilling has been complet...Read More