What looks like a quiet field in a tropical landscape soon becomes a disaster area. A video made public by Brazilian television shows the exact moment when a dam at Vale's (NYSE:VALE) C??rrego do Feij??o mining complex burst and covered with mud neighbouring buildings in Brumadinho.The accident, which took place on January 25, killed over 100 people and forced dozens out of their homes. Rescue tea...Read More
OceanaGold Corp. (TSX: OGC; ASX: OGC) says its mines in the Philippines, New Zealand and the U.S. will produce a total of between 500,000 and 550,000 ounces of gold and 14,000 to 15,000 tonnes of copper this year at all-in sustaining costs ranging from US$850 and US$900 per oz. gold sold.In 2018 the company produced 533,300 ounces of gold and 15,000 tonnes of copper at AISCs of US$767 per oz. At H...Read More
Africa-focused Firestone Diamonds (LON:FDI) didn't exactly have a bright year in 2018, with its shares down almost 70% to date, and the situation likely to get worse after it reported Monday that production had dropped 13% in the second quarter of its financial year.The company's Liqhobong diamond mine in Lesotho treated 884,252 tonnes of ore in the three months to the end of December 2018 at an...Read More
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Executives, investors and government officials met in Cape Town at the African Mining Indaba, the continent's biggest gathering of one of its most essential industries.Key developments:Tailings dams in focus. All the big miners spoke about wanting to ensure the safety of their dams after the Vale's disaster in Brazil. Anglo American gave a surprising prediction that it wants to reach a point where...Read More
Rio Tinto's BC Works aluminum smelter and Kemano power operations have been certified by the Aluminium Stewardship Initiative (ASI). This is the highest internationally recognized standard for environmental, social and governance practices.All of Rio Tinto's aluminum operations in Canada are now ASI certified. That makes the company the only one that sells ASI certified aluminum through a chain of...Read More
Vancouver-based Lithium Energy Products (TSX-V: LEP) announced that it entered into a Binding Letter of Intention with American Strategic Minerals to acquire 100% of its assets, including the Lost Sheep fluorite mine in Juab County, Utah.In a press release, LEP explained that this arm's length acquisition will include 51 claims of US federal land, and 640 acres of State land, covering a total land...Read More
A Brazilian court has ordered mining giant Vale (NYSE:VALE) to halt operations at its Brucutu iron ore mine, the largest in Minas Gerais state, following last month's tailings dam disaster at Brumadinho, which left at least 134 dead.The veredict, quoted by O Globo, one of the most respected Brazilian publications, includes an injunction that bans Vale from storing tailings in the Laranjeiras dam...Read More
Canada's Barrick Gold (TSX:ABX)(NYSE:GOLD), the world's top bullion producer by volume has entered into a 50-50 strategic alliance with fellow junior miner Reunion Gold (TSX-V:RGD), to jointly explore for and develop projects on South America's North Atlantic coast.The deal allows Barrick to tighten its grip on four of the Guyana-based projects Reunion already owns - Waiamu, Aremu, Arawini and O...Read More
Vedanta, the London-listed natural resources company controlled by one of India's richest men, said Monday its foreign subsidiary Cairn India Holdings' $200 million investment in Anglo American (LON:AAL) met all governance requirements.The company, India's largest miner and No. 1 iron ore exporter, said the deal was made on an arms-length basis in December 2018, adding it provided "significantly h...Read More
Stocks Analysis by Chris Kimble covering: XAU/USD, XAG/USD, Gold Futures, Silver Futures. Read Chris Kimble's latest article on Investing.comRead full newsRead More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index began with some heaviness, slipping to the low 1070s where it held above its middle Bollinger band. From there, the INK CIN bounded straight up and through 1100 resistance and came to rest at 1120.75 for a gain of 23.3 points or 1.9%, The Index ha...Read More
Silver recently started outperforming gold again, a watershed event. For long years this white metal has mostly lagged the yellow one, relentlessly battering silver sentiment. But gold surging into year-end 2018 finally sparked some life into moribund silver. This is a bullish sign, as silver has soared in the past once rising prices reach critical mass in attracting new investment capital....Read More
Zinc rose more than 2% to around a six-month high of US$2,777 a tonne while copper closed slightly lower. Strong jobs data out of the US on Friday helped ease market jitters, although China's Caixin purchasing managers' index fell slightly in January.Key global market indices had closed higher on Friday and the S&P/ASX200 was following suit in midday trade today.New graphite producer Syrah Res...Read More
While US and Canadian cannabis stocks continue to crush it, a lesser-known cannabis market that could ultimately end up being the largest in the world, isn't getting much attention.According to Prohibition Partners, Europe's cannabis market is estimated to be worth as much as $140 billion by 2028, likely becoming the world's largest legal market over the next five years.Here are some highlights fr...Read More
The Young Mining Professionals (YMP) - a non-profit group with chapters in Vancouver, Toronto, Montreal, Sudbury, Perth, Brisbane, Johannesburg and London - has given its Mining Professional of the Year awards for 2018 to Andr?(C)e St-Germain, chief financial officer of Integra Resources (TSXV: ITR; US-OTC: IRRZF) and Jose Vizquerra, executive vice-president of strategic development and a director...Read More
The outlook for silver remains poor with weak fundamentals, including declining industrial consumption and an emerging supply glut weighing on its price. While silver has gained 2% since the start of 2019 to trade at US$15.74 an ounce, many producing primary silver miners have lagged, with some, including First Majestic Silver, losing over 4%. Regardless of larger silver miners with operational as...Read More
Gold rallied sharply in recent weeks to be up by 3% since the start of 2019 and to trade over the psychologically important US$1,300-an-ounce mark. There are signs that gold is heading higher in coming months because of rising economic and geopolitical uncertainty. Many analysts believe that the yellow metal has entered a new bull market and will reach US$1,350 per ounce before the end of the year...Read More
After a fatal attack on its employees in late September 2018 Colombian gold miner Continental Gold Inc.'s (TSX:CNL) market value collapsed. This saw its stock fall from 2018 highs of over $4 per share to a two-year low of $1.76 per share. Since then, Continental Gold's price languished below $2 a share until Tuesday of last week, when its value surged to well over $2 and gaining 26% in less than a...Read More
The last year was a tough one for silver miners and investors. While gold ended the year on a positive note, rallying strongly to eventually climb to over US$1,300 an ounce by late January 2019, silver remains caught in a deep slump, where it continues to trade at under US$16 per ounce. This has weighed heavily on the performance of many primary silver miners to see the Global X Silver Miners ETF...Read More