Moody's Investor Services downgraded the company's corporate family rating and its senior unsecured note ratings to B2 from B1, its probability of default rating to B2-PD from B1-PD and kept its ratings outlook at negative.Read More
Evolution's crafty July 2015 acquisition of the Cowal gold mine, 40km north-east of West Wyalong in New South Wales, for a not insignificant A$756 million, is a case in point.Read More
The company reported March quarter production of 85,885 ounces of gold, down from 99,509oz in the December quarter, but in line with expectations due to a change in the Gwalia mine sequence.Gwalia produced 56,773oz, down from 62,835oz, while Simberi produced 29,112oz, down from 36,674oz, due to a drop in milled grade and a loss of seven days of production due to an illegal strike.Despite the resul...Read More
(Bloomberg) - A U.S. judge held out the prospect of scuttling Och-Ziff Capital Management Group LLC's plea agreement with the U.S. if he concludes an investor group is entitled to as much $600 million over lost mining rights tied to a sprawling African bribery scheme.U.S. District Judge Nicholas Garaufis is due to sentence an Och-Ziff unit after it pleaded guilty in September 2016 to participatin...Read More
(Bloomberg) - Vedanta Ltd.'s plan to expand a copper smelter in India as part of an $8 billion drive to boost its national production capacity for metals is being dogged by movie stars and local protesters.Stars-turned-politicians Rajinikanth and Kamal Haasan are lending their voices to protests by neighboring villagers against the plant in Tamil Nadu because of health concerns. Vedanta is workin...Read More
World's number one miner BHP (ASX:BHP) confirmed Thursday it has decided to leave the World Coal Association (WCA) over differences on climate change, but said it will keep its affiliation to the US Chamber of Commerce, which was also under review.The miner, which publicly supports the Paris climate accord, first signalled its intent to potentially leave the global coal-lobbying group last year, a...Read More
Investing.com - Gold prices headed higher on Wednesday as the latest tit-for-tat in trade tensions between the U.S. and China caused flight to the safe haven precious medal.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were last up by $7.20, or around 0.5%, to $1,344.50 a troy ounce at 10:38AM ET (14:38GMT).China's commerce ministry announced Wednesday re...Read More
(Repeats earlier story for wider readership with no change to text. The opinions expressed here are those of the author, a columnist for Reuters.)* GRAPHIC: China's BRI initiative: http://tmsnrt.rs/2njAVmwBy Clyde RussellHONG KONG, April 4 (Reuters) - China's Belt and Road Initiative (BRI) is one of those rare things that virtually everybody seems to have heard about, but equally, very few people...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)* GRAPHIC: China's BRI initiative: http://tmsnrt.rs/2njAVmwBy Clyde RussellHONG KONG, April 4 (Reuters) - China's Belt and Road Initiative (BRI) is one of those rare things that virtually everybody seems to have heard about, but equally, very few people can actually claim to have a detailed understanding of what it mean...Read More
Investing.com - Gold prices rose to the days highs on Wednesday as safe haven demand for bullion was boosted by escalating trade tensions after China announced countermeasures against the latest U.S. tariffs.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange rose $6.90 or 0.51% to $1,344.10 a troy ounce by 04:02 AM ET (08:02 AM GMT).Worries that protectionist...Read More
Copper prices have gained around 36% over the past 18 months turning mines that were once loss-making into profit generators.Read More
Craig Thomas has run the Namibia-focused miner since 2015, after being promoted from COO.Weatherly had to push back a loan repayment due to Orion Mine Finance on March 31, and has seen a precipitous fall in its share price recently. A three-year peak in mid-February of £0.023 (US$0.032) per share came before more announcements about the financial situation, triggering the 70% fall to &p...Read More
As a broad statement, it's hard to disagree with; Donald Trump and his administration have made life easier for miners through cutting regulation and forcing a change of attitude from the permitting authorities, on top of handing back cash through tax cuts.Read More
He spent eight years at the copper miner and smelter company, first as COO and then the last three years as CEO.Thomas has agreed to continue his role in the interim period to ensure a smooth transition process and allow operations to continue without interruption.No replacement has been announced yet, but the company said it would review the most appropriate management structure going forward and...Read More
The raising comes a week after W Resources received a €5.3 million (US$6.6 million) grant from the Junta de Extremadura government, as well as a US$35 million loan facility from BlackRock, both to advance the La Parrilla tungsten and tin project in Spain.It placed 300 million ordinary shares at £0.005/share to new and existing shareholders, with an application for the new ordinary share...Read More
The company outlined a 29% production drop in the March quarter due to higher rainfall and lower evaporation rates.It said although production in the June quarter was expected to be significantly higher, its full year production would be about 10% lower than expected.In London, diversified miner Anglo American (LN:AAL) fell 3.17%. Reports have emerged it will be fined BRL125.6 million (US$37.7 mil...Read More
The reinstatement was subject to conditions including plant construction starting within three months, commissioning by September 30 and first production by December 30.Read More
Muttenz-headquartered Clariant expects to see growth across its core care chemicals, catalysis, natural resources, and plastics and coatings businesses.The Trump US government is lowering company taxes and has generally overseen a period of increased business confidence, investment and employment over the past 12 months."Clariant is … excited about its plans for growth over the next four ye...Read More
"Every ugly incident in the mining industry is a call for you to do something better," he said Thursday as he addressed stakeholders on his visit to the Modikwa platinum mine in the Limpopo province. Read More
Nationally-recognised courses in automation are expected to be available at WA TAFE colleges and high schools next year, announced at a launch in Perth yesterday attended by dozens of resources industry heavyweights.It comes after Rio committed A$2 million last year to develop the new qualifications.Rio Tinto Iron Ore chief executive Chris Salisbury and Education and Training Minister Sue Ellery i...Read More