(Bloomberg) - Standing high on top of a windswept dune in the West Texas plains, Greg Edwards stares out into a vast ocean of sand. It stretches in every direction, interrupted only by an occasional strip of asphalt or clusters of silos that rise high into the sky.Edwards runs a frack-sand mine. And those silos mark the presence of his rivals, who suddenly seem to be popping up everywhere. As he...Read More
(Bloomberg) - China's goal of putting more electric cars on the road is proving a bonanza for a South Korean tycoon.Huh Chin-kyu, the 77-year-old founder and chairman of Seoul-based Iljin Group, has become his country's latest billionaire thanks to increasing demand for the firm's copper coils, a key component of rechargeable batteries used in electric vehicles. The company's Iljin Materials unit...Read More
Suncor Energy Inc said on Monday it expects its Syncrude oilsands project in Alberta to return to full production in early to mid-September, following an outage last month that shut total output.Suncor, the biggest stakeholder in the project, said early investigation indicated that the cause of disruption was a transformer trip.The facility, which can produce up to 360,000 barrels per day of crude...Read More
Canadian crude supplies may remain tight in the coming weeks as Suncor Energy Inc. works to bring its massive Syncrude oil-sands operation back online, a process that the company said won't be completed until September.Pipeline shipments from the facility, which went down last month after a transformer trip cut power to the plant, will be about 60 percent to 70 percent of capacity for August, Ca...Read More
Tesla's North American assembly lines are humming at last but the electric vehicle company's plans for Asia dwarves its current operations.Reuters quotes local Chinese media on Tuesday as saying the Californian company has signed agreements with Shanghai authorities that will allow it to open a plant in the Chinese city with an annual capacity of 500,000 cars:The Shanghai government made the anno...Read More
Mr. David Wolfin reportsAVINO ANNOUNCES DRILL RESULTS FROM THE EL CHIRUMBO AND GUADALUPE AREAS OF THE AVINO PROPERTYAvino Silver & Gold Mines Ltd. has released further drill results from its planned programs on the El Chirumbo area of the Avino vein system as well as the Guadalupe area near the San Gonzalo mine. Both of these areas are located on the Avino property, situated 80 kilometres nort...Read More
Mr. Nav Dhaliwal reportsBONTERRA INTERSECTS 30.5 G/T GOLD OVER 2.0 M AND EXPANDS ON HIGH GRADE ZONES AT GLADIATOR GOLD DEPOSITBonterra Resources Inc. has released the latest drilling results from the continuing resource development program at the Gladiator gold deposit, including an intersection of 30.5 grams per tonne gold over 2.0 metres, increasing the down-plunge size of the south zone high-gr...Read More
The price of copper sank on Wednesday, losing more than 4% in New York to $2.7170 or $5,990 a tonne on the Comex market, its lowest level since July 20 last year.It was one of the busiest days of 2018 on commodity futures markets with with over 2.1m tonnes of copper worth $12.7 billion exchanging hands by early-afternoon. Wednesday was the ninth down day of the last 10 trading sessions for copper....Read More
(Kitco News) - The gold market is going through some fundamental changes, with the precious metal becoming increasingly immune to rising geopolitical and macroeconomic volatility, according to Australian investment bank Macquarie.Markets were exposed to some high-risk events in 2017 and 2018, but gold showed barely any reaction to major events such as, the U.S. President Trump’s first year i...Read More
The Dow moved mostly sideways or down all week until Friday, as some traders came back to work from the 4th of July holiday. The focus on Friday was the new jobs report, which beat expectations and showed enough of an increase in people looking for work and moderate wage growth to convince traders to rally.Investors mostly ignored the tariffs on China, and the reciprocal tariffs on the U.S., as th...Read More
Mr. Walter Coles reportsSKEENA INTERSECTS 16.02 G/T GOLD OVER 12.25 METRES AT SNIPSkeena Resources Ltd. has released additional assay results from the phase 2 underground drilling program at the company's 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia.The phase 2 drilling program totalling 11,000 metres is being performed from surface and underground utiliz...Read More
(Kitco News) - Barrick Gold Corp. (NYSE, TSX: ABX) late Wednesday reported that second-quarter gold production was roughly in line with the first quarter, although output was down year-on-year.The company maintained full-year gold-output guidance but trimmed its forecast for copper production in 2018.Based on preliminary data, the world’s largest gold producer said it turned out 1.07 million...Read More
The guidelines, the result of a three-year international effort, should help identify areas of particular environmental importance where no mining should occur. (Image: Mountains in the Sea 2004. Courtesy of NOAA Office of Ocean Exploration.)An international team of researchers has developed a set of criteria to help the International Seabed Authority (ISA) protect biodiversity from deep-sea minin...Read More
Five former mining executives at Turkey's Soma coal mine have been jailed over the country's deadliest mining disaster, which claimed the lives of 301 people in May 2014 in the town located 480 km south of Istanbul.The sentences, state-run Anadolu Agency reports, range from 15 to 22 years in prison for the top executives. Nine other employees were handed shorter sentences, while 37 of the 51 defe...Read More
Australia's Resolute Mining (ASX:RSG) said Wednesday it had added three years to the mine life of its Ravenswood gold operation in Queensland thanks to an expansion project and the reception of all required approvals to optimize processes.The updated expansion, which includes building an open pit at the site, is expected to deliver 1.5 million ounces of gold production over 13 years.Ravenswood is...Read More
Australia's Lucapa Diamond (ASX:LOM) has found yet another large sparkler at its prolific Lulo mine in Angola - a 114-carat diamond, the eleventh 100-plus carat diamond recovered to date and the third this year.The 114-carat diamond is the eleventh 100-plus carat recovered to date and the third this year.The company said the stone will be added to an inventory of large diamonds being held for sal...Read More
Today’s selling continued to day’s trading resulting in a strong drawdown in both gold and silver with futures gold closing down $13.50 currently fixed at $1,242 an ounce. At the same time, spot gold gave up $14 in trading today and is currently fixed at $1,241 32.Today’s dramatically lower pricing in gold is a combination of extreme dollar strength coupled with traders aggressiv...Read More
Mr. David Wolfin reportsAVINO ANNOUNCES DRILL RESULTS FROM THE EL CHIRUMBO AND GUADALUPE AREAS OF THE AVINO PROPERTYAvino Silver & Gold Mines Ltd. has released further drill results from its planned programs on the El Chirumbo area of the Avino vein system as well as the Guadalupe area near the San Gonzalo mine. Both of these areas are located on the Avino property, situated 80 kilometres nort...Read More
(Kitco News) - Gold and silver prices are solidly lower and near their daily lows in early-afternoonU.S. trading Wednesday. The precious metals sold off in sympathy with aslumping raw commodity sector today, after the U.S. hit China with anothervolley of trade sanctions. A higher U.S. dollar index today also is a negativefor the precious metals markets. Augustgold futures were last down $10.90 ano...Read More
Mr. Nav Dhaliwal reportsBONTERRA INTERSECTS 30.5 G/T GOLD OVER 2.0 M AND EXPANDS ON HIGH GRADE ZONES AT GLADIATOR GOLD DEPOSITBonterra Resources Inc. has released the latest drilling results from the continuing resource development program at the Gladiator gold deposit, including an intersection of 30.5 grams per tonne gold over 2.0 metres, increasing the down-plunge size of the south zone high-gr...Read More