BOGOTA, Feb 8 (Reuters) - The largest union at Colombia's top coal mine Cerrejon has reached an 11th-hour salary and benefits deal with the company, avoiding a strike, the union said on Thursday.Cerrejon accounts for 37 percent of Colombia's coal output, the world's fifth-largest exporter of the mineral, and a strike likely would have affected exports.The two sides had returned to talks after a la...Read More
BOGOTA, Feb 8 (Reuters) - The largest union at Colombia's top coal mine Cerrejon has reached an 11th-hour salary and benefits deal with the company, avoiding a strike, the union said on Thursday.Cerrejon accounts for 37 percent of Colombia's coal output, the world's fifth-largest exporter of the mineral, and a strike likely would have affected exports.The two sides had returned to talks after a la...Read More
Feb 8 (Reuters) - Russian gold miner Petropavlovsk named Roman Deniskin as its chief executive on Thursday, following the resignation last year of its long-time CEO and co-founder.The appointment comes less than a month after Kazakh businessman Kenges Rakishev, who owns a 22 percent stake in Petropavlovsk, told Reuters that he wanted to bring back co-founder Pavel Maslovskiy as CEO.Maslovskiy resi...Read More
NEW YORK, Feb 8 (Reuters) - Two more managing directors left Goldman Sachs Group Inc last week, a company spokeswoman said, adding to a string of departures by key commodities traders after the Wall Street firm reported a sharp drop in 2017 trading revenue.Reuters reported last month that several traders, including Don Casturo, operating chief of global commodities, left Goldman Sachs as the firm...Read More
JOHANNESBURG, Feb 8 (Reuters) - South Africa's Gold Fields said on Thursday it expects full-year profit to fall as much as 12 percent due to impairments and increased amortisation cost at its mines.The bullion miner flagged headline earnings per share - the main gauge of profit in South Africa - of $0.23 to $0.26 per share for the year ended Dec. 31, 2017, or between unchanged and up to 12 percent...Read More
JAKARTA, Feb 8 (Reuters) - Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would restrict exports to Indonesian vessels, an industry association said on Thursday.Jakarta issued rules in October requiring coal and palm oil exporters to use Indonesian-flagged vessels and Indonesian insurance companies, to b...Read More
Shares in Vedanta, the London-listed natural resources company controlled by one of India's richest men, fell as much as 5.5% on Thursday on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in Goa.According to the ruling, the process of renewing the cancelled permits in 2015 was against the law. As a consequence, the country's top court said that no...Read More
Mr. John Burzynski reports OSISKO MINING PROVIDES QUEBEC EXPLORATION UPDATE Osisko Mining Inc. has provided an update on the progress of exploration at its 100-per-cent-owned Windfall Lake, Urban Barry and Quevillon gold projects located in the Abitibi greenstone belt, Eeyou Istchee James Bay, Quebec.Osisko has been conducting new exploration and definition drilling at Windfall for 26 months, sinc...Read More
Mr. Vishal Gupta reportsCALIFORNIA GOLD ANNOUNCES POSITIVE FIRST ASSAYS FROM RESOURCE DRILLING AT QUEEN SPECIMEN ZONE - INTERSECTS 30.2 M OF 1.21 G/T AU, INCLUDING 9.3 M OF 2.37 G/T AU AT ITS FREMONT GOLD PROJECT**California Gold Mining Inc. has released the first set of assay results from the recently commenced resource drilling program at the Queen Specimen zone at its flagship Fremont project i...Read More
Canadian billionaire Robert Friedland, founder and executive chairman of Ivanhoe Mines (TSX:IVN), has joined the debate over the Democratic Republic of Congo's imminent hike to mining taxes by saying his company would pay higher royalties and taxes, but only if that money benefits locals.The Vancouver-based company, which is developing the Kamoa-Kakula copper deposit in the Central African nation...Read More
Mr. Eric Edwards reportsTRIMETALS MINING INC. DRILLS 10.7 M @ 2.02 G/T AU AND 25.2 G/T AG AT 12.2 METERS DOWNHOLE DEPTH AT GOLD SPRINGS PROJECTTrimetals Mining Inc. has released the final results from drill holes completed as part of the 2017 program on the Gold Springs project in Utah and Nevada. SUMMARIZED RESULTSHoleFromToThickness*Gold SilverNo.(m) (m) (m) (g/t)(g/t)E-17-016 7.689.982.30.63 11...Read More
Sotheby's unveiled Thursday what it calls the "world's largest, rarest and most valuable D-Flawless round white diamond to have ever been offered for private sale, with experts predicting the gem could fetch over $33 million.The 102.34-carat white diamond, mined by De Beers in Botswana, is the only known round brilliant-cut gem over 100 carats perfect according to every critical criterion, said S...Read More
VANCOUVER, British Columbia, Feb.05, 2018(GLOBE NEWSWIRE) -- First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (Frankfur...Read full newsRead More
Precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Thursday it had received approval from South African competition authorities to exchange selected assets for a 38% stake in South African DRDGOLD Ltd. (DRD), in a deal valued at R1.3 billion (roughly $108 million at today's rates).Deal gives Sibanye-Stillwater the option to increase its stake in DRDGold to 50.1%The company, Sou...Read More
But Bitcoin could be so much more than digital gold.Read full newsRead More
Canada's Northern Vertex Mining is ramping up production at its Moss gold-silver project towards an initial stacking rate of 2,500 tpd, to later reach 5,000 tpd.Read full newsRead More
LOVELOCK - An agency that encourages stewardship over prohibition is the Environmental Protection Agency that Administrator Scott Pruitt represented to the Nevada mining industry on Feb. 5.Read full newsRead More
VANCOUVER, British Columbia, Feb.05, 2018(GLOBE NEWSWIRE) -- First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (Frankfur...Read full newsRead More
Investors sold off copper on Wednesday as the US dollar strengthened and equity and bond market volatility spilled over onto commodity markets.Comex copper plunged more than 3% to a low of $3.085 a pound ($6,800 per tonne) in New York, an eight-week low. Volumes were particularly heavy, with more than 185,000 lots worth some $14.3 billion traded by the close. After a 30% jump in 2017, copper ha...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 Reporter West Texas Intermediate crude for March delivery lost $1.60 to $61.79 on the New York Merc, while Brent for April lost $1.35 to $65.51 (all figures in this para U.S.). Western Canadian Select traded at a discount of $30.70 to WTI ($31...Read More