Striking Escondida workers clash with police March 2017 (Image: Telam | YouTube)Copper's stunning rally this week continued in New York on Thursday with the metal touching a high of $3.32 a pound ($7,310 a tonne), the highest since January 2014, before paring some of those gains as worries about labour-related supply disruptions in key producing regions resurface.Workers at the Escondida copper m...Read More
LONDON, June 6 (Reuters) - Canada's Bank of Nova Scotia (Scotiabank) is limiting lending by its ScotiaMocatta metals unit as it embarks on a radical restructuring likely to halve the size of the business, sources familiar with the matter said.Mocatta is the largest financier of the global precious metals supply chain, accounting for some 15-20 percent of lending to clients ranging from refiners an...Read More
GABORONE, June 7 (Reuters) - Botswana Diamonds (BoD) wants to buy liquidated BCL Mine's shares in a diamonds exploration joint venture project, its managing director said on Thursday.BCL mine group, which has been under liquidation since 2016, is selling its 51 percent stake in Maibwe Diamonds for an undisclosed amount."We have put in an offer to the liquidator of BCL and we hope to get a response...Read More
Brazil's President Michel Temer is set to issue a decree next week introducing key changes to current mining regulations, aimed at making the country's industry more competitive and sustainable.The executive order will technically be a reinterpretation of 50-year-old regulations, rather than a new law, Adriano Trindade, attorney specializing in mining rules from Pinheiro Neto Advogados told MININ...Read More
June 7 (Reuters) - Australia's Fortescue Metals Group said on Thursday it has built up a 19.9 percent interest in small iron ore miner Atlas Iron Ltd, giving it a large enough stake to block a takeover of Atlas by Mineral Resources Ltd.Fortescue, the world's No. 4 iron ore miner, said it would not support Mineral Resources' A$280 million ($214 million) takeover of Atlas announced in April on the c...Read More
JOHANNESBURG, June 7 (Reuters) - Earthquakes such as the one in which seven miners died last month in South Africa are impossible to predict and a fact of life for deep level operations there, the chief executive of the mine's owner Sibanye-Stillwater said on Thursday.Precious metals producer Sibanye has been the object of strong criticism from unions, local media and the government after the eart...Read More
State regulators gave the Canadian company the OK to excavate wetlands and possibly relocate any endangered species at the Upper Peninsula site.Read full newsRead More
State regulators gave the Canadian company the OK to excavate wetlands and possibly relocate any endangered species at the Upper Peninsula site.Read full newsRead More
Mr. David Wolfin reportsAVINO COMMISSIONS MILL CIRCUIT 4Avino Silver & Gold Mines Ltd. has commissionedmill circuit 4, which involves ramp-up, testing and tuning; the mill is operating consistent with management's expectations. Following the completion of the milling, flotation and thickening components, mill circuit 4's 1,000-tonne-per-day ball mill was turned over on Feb. 26, 2018, for its i...Read More
Caterpillar recently celebrated the manufacture of the 1000th Cat (R) 797 Mining Truck. With 400 tons (363 tonnes) payload capacity, the 797F model is Caterpillar's largest truck and the largest mechanical-drive mining truck in the world.The 797 is the only mining truck in the size class to reach the 1,000 milestone. The first 797 placed in a mining operation was commissioned in 1999 and is stil...Read More
Mr. Mark Kolebaba reportsINITIAL IP DATA DELINEATES SIGNIFICANT GOLD TARGETS ON THE OVERLOOK TRENDAdamera Minerals Corp.has provided initial results of an induced polarization (IP) survey on the Overlook gold trend, 200 metres southeast of the historic Overlook mine in Washington State. The survey covers an area drilled earlier by Adamera where drill holes OS17-01 and OS17-03 intersected zones of...Read More
Mr. Peeyush Varshney reportsZINCX RESOURCES ANNOUNCES 2018 EXPLORATION PLANSZincx Resources Corp. has released its plans for the 2018 field season for the 100-per-cent-owned Akie project. The company has outlined a comprehensive 2,500-metre diamond drill program that will focus on its 100-per-cent-owned Akie property. The company also wishes to advise it is in the final stages of its preliminary e...Read More
Granada Gold Mine has completed an initial trench program at its Aukeko property, immediately adjacent to its flagship gold property, the Granada Mine, in the province of Quebec, Canada.Read full newsRead More
On Monday, the Michigan Department of Environmental Quality gave a final permit for the controversial Back Forty gold mine in Menominee CountyRead full newsRead More
World's No. 2 miner Rio Tinto (ASX, LON:RIO) has joined forces with Minmetals, one of the biggest Chinese mining companies, to explore for mineral deposits first in the Asian country and then the rest of the world .The 50-50 joint venture with state-backed Minmetals follows a technical agreement signed in November, when both parties committed to collaborative search for new ore bodies."The formali...Read More
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday.The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened...Read More
Australian copper-gold miner OZ Minerals (ASX:OZL) moved closer to having control of takeover target Avanco Resources (ASX:AVB) Thursday, as it declared its cash and shares offer for the for Brazil-focused explorer "unconditional."The Adelaide-based company is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418 million (a...Read More
Cameco Corp. (TSX:CCO)(NYSE:CCJ) has long been viewed as a great long-term investment with plenty of potential, assuming that uranium prices finally recover from their multi-year lows.That hope is beginning to gain support with investors and pundits alike, so let's take another look at whether Cameco is worthy of an investment.What happened to uranium prices?Uranium is primarily used as a fuel for...Read More
Noting that the price of gold to silver sits at a ten-year high of about 80-to-one, PI Financial's precious metals and mining analyst Chris Thompson picks three established mining stocks to benefit most from a 'devil's metal' price recovery. (He also picks a 'sleeper' for those eternal optimists bent on ferreting out ridiculously under-priced penny mining stocks.)In a precious metals mining sector...Read More
And just like that, the VIX index crashes right back to where it was before the late-January 10% drop in the stock market - a reflection that the remaining stock market speculators and hedge fund bots have been completely cleansed of any fear impulse that hit daytrader keyboards in the first quarter of 2018:Hedge funds went from insanely short VIX futures to long VIX futures after the market h...Read More