ST PETERSBURG, Russia/MOSCOW, May 24 (Reuters) - Russian aluminium producer Rusal has asked the Russian government to purchase some of its output, a government source said on Thursday, in an effort to alleviate the pain inflicted by U.S. sanctions.Rusal, the world's second largest aluminium producer, also announced that its chief executive and seven board members had quit - part of a strategy it h...Read More
SANTIAGO, May 23 (Reuters) - Chile's constitutional court said it would not get involved in a dispute between a foreign-backed miner and state-run copper miner Codelco over adjoining lithium deposits in the Maricunga salt flat, according to a court document seen by Reuters on Wednesday.Salar Blanco, 50 percent-owned by Australia's Lithium Power International, with smaller stakes held by Canada's B...Read More
LONDON, May 24 (Reuters) - Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash.A dividend would set Anglo Asian apart from many London-listed junior miners, which typically are busy exploring and need to raise money rather than to hand it out."T...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)LONDON, May 24 (Reuters) - NioCorp Developments, which is in the process of raising financing for a minerals project in Nebraska, has just seen its Toronto-listed shares surge from C$0.52 to $0.70 in the space of two days thanks to the U.S. government.NioCorp's planned mine and processing facility at Elk Creek will prod...Read More
LONDON, May 24 (Reuters) - Mining firm Petra Diamonds said it aims to raise $178 million to help cut its debt burden, and warned it could run low on working capital and breach its debt covenants if shareholders do not back the proposed rights issue.Petra, which last month finalised an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
ST PETERSBURG, May 24 (Reuters) - Polyus, Russia's largest gold producer, said on Thursday 2018 production was likely to be at the upper end of its forecast range of 2.375-2.425 million troy ounces.Chief Executive Pavel Grachev said on the sidelines of the St Petersburg economic forum that 2018 capital expenditure would be slightly below an initially planned $850 million because Polyus was ramping...Read More
SANTIAGO, May 24 (Reuters) - Chilean miner SQM said on Thursday that it would invest $525 million to boost its lithium production capacity in Chile through 2021 as demand for the key ingredient in electric vehicle batteries continues to surge.SQM , one of the world's largest producers of lithium and fertilizers, said it would be ready to produce as many as 180,000 metric tonnes of lithium in Chile...Read More
Precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) blasted Thursday comments made by the Association of Mineworkers and Construction Union (AMCU) accusing the company of failing to take precautions two avoid injuries at its mines.According to the union, a seismic event on May 22 caused a fall of ground at the company's Ikamva mine, part of Kloof operations, leaving two employees inj...Read More
NEW YORK (Legal Newsline) - Two New York corporations allege a Canadian corporation failed to comply with an arbitrator's award.Read full newsRead More
Gold production doubled in the past 30 years, but few expect that trend to continue, says Mark Fellows, mine supply analyst for Metals Focus.Read full newsRead More
British mining firm Goldplat has warned that it will shed some jobs with a plannedRead full newsRead More
Putting gold and other mined material on equal footing, gold equivalent ounce is a key term used in the mining industry.Read full newsRead More
This particular metric has helped unearth some deep discounts in the mining industry.Read full newsRead More
Canadian junior miner CanAlaska Uranium (TSX-V:CVV) provided Thursday an update on ongoing summer work at the West McArthur uranium project, being carried by partner Cameco Corporation (TSX: CCO; NYSE: CCJ), the world's top listed uranium producer.Work at the asset, located immediately next to Cameco's Fox Lake uranium discovery, has been focused on evaluating the C10 corridor, which is highlight...Read More
The world's largest diamond jewellery retailer, Signet, has become the first chain to join De Beers' pilot of its end-to-end diamond blockchain program called Tracr, aimed at clearing the supply chain of imposters and conflict minerals.Signet will work alongside the Tracr team to ensure the platform meets the needs of the jewellery manufacture and retail sectors, with the partnership initially foc...Read More
The world's largest diamond jewellery retailer, Signet, has become the first chain to join De Beers' pilot of its end-to-end diamond blockchain program called Tracr, aimed at clearing the supply chain of imposters and conflict minerals.Signet will work alongside the Tracr team to ensure the platform meets the needs of the jewellery manufacture and retail sectors, with the partnership initially foc...Read More
I used to be a Toys "R" Us kid.I'm somewhat ashamed to admit that. The place was a complete orgy of mindless consumerism. But, for better or worse, kids today won't even have the option anymore. Toys "R" Us has declared bankruptcy. The iconic toy store chain will be shutting its stores for good after a liquidation sale.What fate will befall Geoffrey the giraffe remains to be seen...I grew up with...Read More
Rising energy prices and collapsing emerging currencies are two developments that are not receiving much attention in the mainstream propaganda narrative. But either development which could end up "pulling the rug" out from underneath the markets.I pieced together the graphic to the right from an article on Zerohedge about the developing currency and debt crisis in emerging markets and, specifical...Read More
The Phase 1 pilot plant at the Goldsource Eagle Mountain gold project in Guyana, South America. Source: Goldsource Mines Inc.Shares of Goldsource Mines Inc. [GXX-TSXV; GXSFF-OTCBB; G5M-FSE] jumped 50% in early trading Thursday May 24 after the junior announced details of a new discovery and further positive results from its ongoing saprolite exploration program at its 100%-owned Eagle Mountain Pro...Read More