Vale's operations in Thompson, Manitoba.World number two nickel miner Vale (NYSE:VALE) announced in a letter to employees on Monday it's placing it Birchtree nickel mine in Canada's Manitoba province on care and maintenance at the beginning of October.The Thompson Citizen reports the suspension will result in about 150 employees at Birchtree being cut and up to 50 additional jobs in downstream pro...Read More
Around half of global copper demand is from the electronics industry and roughly one quarter finds application in building and construction. The remainder find its way into industrial machinery, consumer products and - important in terms of growth potential - the vehicle market, specifically electric vehicles.Vehicles with conventional internal combustion engines typically contain about 20 kilog...Read More
Uranium prices steadied in late 2017 after spot prices collapsed to a 17-year low. The price recovery picked up steam in early 2017, with the catalyst behind uranium's turn higher Kazakhstan's production cuts.Uranium producers have been reducing output since the Fukushima disaster, which dented immediate demand for uranium and put the future of nuclear power in question. With healthy stockpiles of...Read More
Shares in Turquoise Hill (TSE:TRQ) rose sharply on Tuesday after the company announced better than expected revenues amid declining production at its massive Oyu Tolgoi copper and gold mine in Mongolia.By the close in New York Turquoise Hill stock was changing hands at $2.81, up 6.2% on the day, bringing its year-to-date gains to more than 21%.The Vancouver-based company said in a statement cop...Read More
Net mining revenues in British Columbia came in at $7.3 billion in 2016 up from $6.3 billion in 2015 driven by an increase in gross mining revenue and a decrease in costs for smelting, refining charges, and freight costs, says PWC in its BC mining report it released today.Authors of the report say that the BC mining industry is cautiously optimistic as prices of key metal and resource commodities...Read More
TORONTO, ONTARIO--(Marketwired - May 16, 2017) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESMega Uranium Ltd. (TSX:MGA) ("Mega") announces today that it is proposing to complete a non-brokered private placement to sell up to 4,166,667 units (the " Units") at a price of $0.18 per Unit, for aggregate gross proceeds of up to $750,000 (the "Financi...Read More
PERTH, WESTERN AUSTRALIA --(Marketwired - May 16, 2017) - Paladin Energy Ltd ("Paladin" or "the Company") (ASX: PDN) (TSX: PDN) announces the release of its condensed consolidated interim financial report for the nine months ended 31 March 2017. The condensed consolidated financial report is appended to this News Release.HIGHLIGHTSReferences below to 2017 and 2016 are to the equivalent nine month...Read More
Mining companies, including copper producers, will continue to shape their investment decisions and production plans based on government regulations, which are increasingly becoming very focused on sustainability and communities well-being, a study released Tuesday shows.According to the report, commissioned by the International Copper Association (ICA), the increasing demand for efficient build...Read More
PERTH, WESTERN AUSTRALIA--(Marketwired - May 16, 2017) - Paladin Energy Limited (Paladin or the Company) (ASX: PDN) (TSX: PDN) refers to its previous announcements regarding the Restructure Proposal and the independent valuation process being undertaken to value Paladin's 75% interest in the Langer Heinrich Mine (LHM) in response to the decision by CNNC Overseas Uranium Holdings Limited (CNNC) to...Read More
BHP's chief executive Andrew Mackenzie had some "words of wisdom" for activist investor Elliott Management on Tuesday, as he addressed a mining-savvy audience at a Bank of Merrill Lynch conference being held in Barcelona, Spain.The head of the Melbourne-based firm, which only yesterday announced a $10 million rebranding campaign that will see it become simply "BHP," assured investors he could li...Read More
(Updates with U.S. markets, changes dateline from previous LONDON)* Oil flat as traders await data* S&P 500, Nasdaq touch record high before retreating* Dollar hit by Trump's disclosure, economy concernBy Rodrigo CamposNEW YORK, May 16 (Reuters) - The U.S. dollar index touched its lowest since early November on Tuesday, hurt by weaker than expected U.S. housing data and concerns after political tu...Read More
Investing.com - Gold prices inched higher in European trade on Tuesday, trying for its fifth-straight winning session as signs of slowing economic activity in the U.S. saw investors temper expectations for more rate hikes by the Federal Reserve.Comex gold futures rose around $5.00, or about 0.4%, to $1,235.10 a troy ounce by 2:50AM ET (06:50GMT). Meanwhile, spot gold was at $1,235.30.The yellow me...Read More
(Updates prices, changes comment)* Worries over cyber attack result in stock buying* Commodity-linked currencies rise* S&P 500 hits record highBy Rodrigo CamposNEW YORK, May 15 (Reuters) - Commodity-linked stocks and currencies got a lift on Monday from rising crude oil prices after major producers Saudi Arabia and Russia said they would extend oil supply cuts into 2018.Cyber-security shares also...Read More
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES ORFOR DISSEMINATION IN THE UNITED STATESToronto, Canada (May 16, 2017) - Mega Uranium Ltd. (MGA: TSX) ("Mega") is pleased to announce that it has increased the size of its previously announced non-brokered private placement financing to up to 6,944,445 units (the "Units"), at a price of $0.18 per Unit, for aggregate gross proceeds of up to $1...Read More
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Canada (May 16, 2017) - Mega Uranium Ltd. (MGA: TSX) ("Mega") announces today that it is proposing to complete a non-brokered private placement to sell up to 4,166,667 units (the " Units") at a price of $0.18 per Unit, for aggregate gross proceeds of up to $750,000 (the "Financing").Each U...Read More
Weekly Reports |May 16 2017Utility interest emerged in the uranium spot market last week but was unable to satisfy all sellers, leading to a -5% price fall.By Greg PeelA cheer wet around the uranium spot market last week as a utility moved in with buying interest, just as has long been anticipated. But with sellers lined up and poised, not everyone was going to be satisfied.Thus when news reached...Read More
After the better part of a decade in mining journalism, Gwen Preston has gone out on her own to find the best natural-resource opportunities around the globe. Based in Canada and writing as the Resource Maven, her next trip is to Mongolia, and she delivers plenty of candy for investors to chew on.Show notes: http://goldnewsletter.com/podcast/hun...Read More
You are hiring a babysitter. You can choose between a teenage girl who has no babysitting experience, or a paroled child molester who was a kindergarten teacher for 5 years. Is it discrimination to choose the less qualified candidate?Yes. And the right to discriminate is a basic necessity of human interaction. It is about ensuring both parties in any interaction have given consent.Okay, that was a...Read More
You are hiring a babysitter. You can choose between a teenage girl who has no babysitting experience, or a paroled child molester who was a kindergarten teacher for 5 years. Is it discrimination to choose the less qualified candidate?Yes. And the right to discriminate is a basic necessity of human interaction. It is about ensuring both parties in any interaction have given consent.Okay, that was a...Read More
Palisade Research May 16, 2017 Category: Research Mexican Gold (CVE:MEX, FRA:4QW1) is currently preparing its maiden resource and our internal estimate pegs it to be between 750,000 and 1.0 million ounces of gold equivalent.Yesterday, Mexican Gold announced the result from its sole step-out drill hole, LM-17-CS-04, and we consider it to be the biggest news the company has put out since the disco...Read More