(Bloomberg) - Weir Group Plc plans to acquire U.S. competitor Esco Corp. as the U.K. maker of industrial pumps strengthens its focus on the mining industry in a $1.29 billion deal including debt.Weir rose to the highest in almost three months on Thursday after the Glasgow-based manufacturer said the purchase will produce $30 million in cost savings and add to earnings in its first year. The compa...Read More
(Bloomberg) - The turmoil unleashed by U.S. sanctions against United Co. Rusal kept reverberating through metals markets, sending aluminum and nickel to multi-year highs.Commodities markets have been rocked for the past two weeks by the clampdown on Russia's Rusal, the largest aluminum supplier outside China, setting off a rush for alternative supplies and stirring concern that further U.S. actio...Read More
April 18 (Reuters) - Workers on strike at a mine operated by Iron Ore Company of Canada (IOC) rejected a new labor agreement, minor stakeholder Labrador Iron Ore Royalty Corp said on Wednesday.Shares of Labrador Iron Ore, which has a 15 percent stake in the company, fell 5 percent.Some 1,300 unionized workers walked off the job at the Labrador City mine in Eastern Canada on March 27 after rejectin...Read More
Ontario is helping communities create jobs and boost economic growth by supporting projects that will revitalize, expand and increase accessibility in the province's Northern tourism sector.Bill Mauro, MPP for Thunder Bay-Atikokan, was in Thunder Bay today on behalf of Michael Gravelle, Minister of Northern Development and Mines, to announce new provincial funding for tourism projects across the N...Read More
SYDNEY, April 19 (Reuters) - Australia's South32 Ltd , the world No. 1 manganese producer, on Thursday raised its output guidance for the steelmaking ingredient amid strong demand and high prices related to U.S. sanctions against Russia, sending its shares to an all-time high.The company, spun off from mining giant BHP Billiton Ltd in 2015, said Australian manganese output rose nearly a sixth in t...Read More
SHANGHAI, April 19 (Reuters) - Pilbara Minerals Ltd aims to ship the first cargo of spodumene concentrate from its Pilgangoora lithium-tantalum development in Australia to China in August, its managing director said on Thursday.Spodumene is a mineral mined as a source of lithium, a key ingredient in electric vehicle batteries, for which China is the world's biggest market."We haven't made any prom...Read More
Mr. Derek White reportsOTC MARKETS GROUP WELCOMES ASCOT RESOURCES LTD. TO OTCQX Ascot Resources Ltd. has qualified to trade on the OTCQX Best Market.Ascot upgraded to the OTCQX from the Pink Market (formerly ASOLF). Ascot begins trading on the OTCQX Best Market on April 19, 2018, under the symbol AOTVF.U.S. investors can find current financial disclosure and real-time Level 2 quotes for Ascot on...Read More
A strike has halted gold production at two mines in Mali run by Randgold Resources since Wednesday, two senior union officials told Reuters on Thursday.The strike at the company's Loulo and Gounkoto mines was related to the payment of bonuses and would continue until the issue was resolved, said Mamadou N'Daou, the administrative secretary of the industry and mines union SECNAMI.Randgold, which ow...Read More
Mr. Chris Taylor reportsGREAT BEAR EXPANDS RED LAKE DRILLING TO 10,000 METRES AND ANNOUNCES PRIVATE PLACEMENTGreat Bear Resources Ltd. has expanded its continuing 3,000-metre drill program in the Red Lake district, Ontario, to 10,000 metres.Great Bear's president and chief executive officer Chris Taylor said: "We have completed eight of 12 planned drill holes, and are expanding our current work pr...Read More
Mr. John Burzynski reportsOSISKO INTERSECTS 41.2 G/T AU OVER 3.5 METRES AT WINDFALLOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and ar...Read More
Anglo American's De Beers, the world's largest rough diamond producer by value, is stepping up efforts to remove so-called "conflict" precious stones from the market by launching a pilot program in Sierra Leone that will help trace the route gems dug up there by small miners.The trial, which aims at supplying retailers with "ethically-sourced" diamonds from artisanal miners based in the West Afr...Read More
Anglo American's De Beers, the world's largest rough diamond producer by value, is stepping up efforts to remove so-called "conflict" precious stones from the market by launching a pilot program in Sierra Leone that will help trace the route gems dug up there by small miners.The trial, which aims at supplying retailers with "ethically-sourced" diamonds from artisanal miners based in the West Afr...Read More
The answer isn't as simple as you may think if you look at the big picture gold plays in the investing world.Read full newsRead More
Tanzanian President John Magufuli on Wednesday appointed a chairman and commissioners for the country's new mining commission, paving the way for the issuance of new mining licences.Read full newsRead More
The answer isn't as simple as you may think if you look at the big picture gold plays in the investing world.Read full newsRead More
Gold stocks are percolating. And while much work remains before their long-term technicals turn bullish, the whole sector could be worth a trade here.Read full newsRead More
Gold stocks are percolating. And while much work remains before their long-term technicals turn bullish, the whole sector could be worth a trade here.Read full newsRead More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, revealed Thursday that revenue in the first quarter of the year had slumped almost 50% after reduced operations at its flagship Bulyanhulu gold mine continued to drag sales down.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), also said production dropped 45% to 120,981 ounces in the first three months of 2018 when compared to...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Wednesday was an upbeat 83-71-140. The TSX Venture Exchange rose five points to 802 while polished diamond prices inched lower. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD) rose one ce...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold rose $2.00 to $1,349.20 on Wednesday. The TSX Venture Exchange added 5.05 points to 802.60 while the TSX Gold Index rose 1.73 points to 191.32. Most Canadian gold miners were strong today. Premier Gold Mines Ltd. (PG...Read More