Ontario and First Nations partners have signed historic resource revenue sharing agreements in mining and forestry - the first of their kind in the province.These agreements with First Nations, represented by Grand Council Treaty #3, Wabun Tribal Council and Mushkegowuk Council, commit Ontario to sharing 45 per cent of government revenues from forestry stumpage, 40 per cent of the annual mining ta...Read More
(Bloomberg) - Eira Thomas has discovered diamonds in the far north, co-founded mining companies and sat on a dozen boards - including Canada's most valuable energy company.So the 49-year-old was a little taken aback when an investor recently suggested she needed to hire an engineer as chief operating officer to back her up in the executive suite. She was, after all, only a geologist."I'm 30 years...Read More
LONDON, May 3 (Reuters) - The zinc industry has agreed a 15 percent drop in annual zinc processing fees, the miner and metals smelter Nyrstar said on Thursday, as supply in the tight market dwindled.The company, listed in Belgium, said in a statement treatment charges for the galvanising metal for 2018 fell to $147 per tonne from $172 per tonne last year. An agreement was reached at the end of Apr...Read More
Leadville, CO. April 30, 2018: 2018 National Mining Hall of Fame Inductees - The National Mining Hall of Fame and Museum (NMHFM) announced today the 2018 National Mining Hall of Fame inductees. This year's inductees, selected by the National Mining Hall of Fame's Board of Governors, represent exploration, extraction, management, education, and research and development in the U.S. mining industry....Read More
MONTREAL, May 03, 2018 (GLOBE NEWSWIRE) - Osisko Gold Royalties Ltd (the "Company" or "Osisko") (TSX:OR) (NYSE:OR) today announced its consolidated financial results for the first quarter ended March 31, 2018 and an update on matters following quarter-end.HighlightsEarned 20,036 gold equivalent ounces1 ("GEOs"), in-line with the 2018 annual guidance of 77,500 to 82,500 GEOs;Generated cash flows fr...Read More
Workers at Peru's La Oroya polymetallic smelter are in talks with more than two companies interested in partnering with them to restart operations at the nearly 100-year-old plant, a union leader said on Thursday.La Oroya had been operated by Doe Run Peru, a unit of the U.S.-based Renco Group, from 1997 until the company went bankrupt in 2009 and its assets were transferred to a group of former cr...Read More
Eight of the thirteen gold miners trapped underground at Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) Masakhane mine in South Africa remain missing, the company said after a seismic event caused a fall of ground in an operating stope at one of the company's gold mines.Contact was made with six workers earlier on Thursday and two two were brought to surface safely, the firm said, but one of them reg...Read More
Mine operator Sibanye-Stillwater said five of 13 miners trapped underground in a South African gold mine were rescued but one of the five had died.Thirteen miners were trapped underground at the company's Masakhane mine west of Johannesburg earlier on Thursday after an earthquake that measured 2.2 caused a cave-in.Sibanye-Stillwater said two employees were taken to a hospital and were in stable co...Read More
JOHANNESBURG, May 3 (Reuters) - Precious metals producer Sibanye-Stillwater's gold output at its South African mines had been hit by by safety and operational disruptions in the first quarter, it said on Thursday, adding that it expects to regain the lost ground this year.Sibanye's gold production in the first three months of 2018 declined to 291,500 ounces, from 330,000 ounces in the same period...Read More
May 2 (Reuters) - Sigma Lithium Resources is set to list in Toronto next week, company executives said on Wednesday, as the Brazil-based lithium mine developer eyes a wave of demand for the metal used in rechargeable batteries for iPhones and electric cars.Sigma fell short of raising up to a planned C$30 million ($23.29 million) from investors, instead raising C$20 million. It blamed the shortfall...Read More
Wall Street is aghast at Elon Musk's dismissive attitude toward analysts' probing following a quarter of record (but less than expected) losses for Tesla, but the electric vehicle maker did provide some answers to questions that's been vexing the mining industry.Benchmark Mineral Intelligence, a provider of price information and research on battery supply chains, parsed the numbers after Tesla gav...Read More
The optimism surrounding the outlook for base and precious metals continues to grow. This has been a boon for Canadian miners such as Teck Resources Ltd., First Quantum Minerals Ltd. and Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM). All three miners have seen their shares firm over the last year to be up by 32%, 69%, and 21%, respectively. There are signs of even more good times ahead for miners and H...Read More
Mr. Rudi Fronk reportsSEABRIDGE GOLD CLOSES $19.7 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARESSeabridge Gold Inc. has closed its previously announced non-brokered flow-through financing, including the full amount of the overallotment option, for aggregate gross proceeds of $19,734,000. A total of 1.15 million flow-through common shares of the company, including those pursuant to the exercise o...Read More
Following Tuesday's strong sell-off, traders showed nervousness as index prices chopped back and forth.Then, the entire stock market benefitted from some big blowout earnings reports on Thursday. Amazon, Facebook, Advanced Micro Devices, and Visa were among the big winners.But it was Amazon that really took the market along for a bullish rebound as it reported $3.27 earnings per share compared to...Read More
Today's jobs report came in below expectations suggesting that the Federal Reserve will not raise interest rates aggressively while maintaining a tightening of its monetary policy. This, along with renewed concern about a looming trade dispute between the United States and China, was supportive of gold pricing. According to Business Day, "Senior Chinese and American officials concluded two days of...Read More
(Kitco News)- U.S. dollar strength remains the most significantheadwind for gold prices next week, but many analysts and investors are notready to turn bearish on the yellow metal as there is still a lot ofuncertainty within financial markets.Gold is preparing to end its third consecutive week innegative territory, but the market remains entrenched in its trading channel,bouncing off a four-week l...Read More
Mr. Rudi Fronk reportsSEABRIDGE GOLD CLOSES $19.7 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARESSeabridge Gold Inc. has closed its previously announced non-brokered flow-through financing, including the full amount of the overallotment option, for aggregate gross proceeds of $19,734,000. A total of 1.15 million flow-through common shares of the company, including those pursuant to the exercise o...Read More
May 04, 2018 Guest(s): Phillip Streible Senior Market Strategist, RJO Futures The U.S. Federal Reserve is likely to raise rates at their next meeting in June, adding more downward pressure on gold, this according to Phil Streible, senior market analyst at RJO Futures. "In June, [the Fed] should raise rates again. That'll probably be another catalyst to put the pressure on. I think for longer-ter...Read More
(Kitco News) - WallStreet and Main Street both look for gold to continue its recovery next week,based on the Kitco News weekly gold survey.ComexJune gold this week fell as far as $1,302.30 an ounce, its weakest level of theyear. Since, however, prices have ticked higher again. One widely anticipatedevent that occurred this week was a Federal Open Market Committee meeting inwhich interest rates wer...Read More
LONDON (Reuters) - The World Gold Council, owner of the world's largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters.The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed management...Read More