Two years ago, I was promoting MGN stock, a silver copper mine developer.They finally got their final permit after 11 years.Who knew it would take so long?The project was previously permitted in 1993!$100 million was spent developing the project by the previous owners, and $75 million by the current owners.Yet, the current market cap of MGN is not $175 million or more, but rather, $14.8 million.LI...Read More
Rio Tinto Group should focus on buying floundering rivals to secure copper mines instead of building new ones, according to Sanford C. Bernstein Ltd."The decision should be a no-brainer," Paul Gait, an analyst at Bernstein in London, said in a note Friday. "Building a new ton of supply costs significantly more than buying an existing one."Rio said Thursday it plans to cut its dividend by as much a...Read More
Miners struggling to cut costs amid plunging metal prices just got some help from Argentine President Mauricio Macri, as he announced the government has revoked a 5% tax imposed by the previous administration on mining and energy companies.Macri, who took office in December on a platform of repealing government intervention that scared investors away, unveiled the measure during a visit to the min...Read More
Teck Resources Ltd. and Freeport-McMoRan Inc. led a mining stock rally on Friday as surging oil prices provided relief for their foray into energy before prices tumbled.Shares in Freeport surged 13 percent to $5.52 at 1:34 p.m. in New York, while Teck, Canada's biggest diversified miner, jumped 20 percent to C$6.19 in Toronto. They were the best performers in the Bloomberg Americas Mining Index.Fr...Read More
In my last two newsletters, I asked the question, "How can I do this better or differently than I have done in the past? Help me. Help me reach the masses. What will it take? How do we do it? I want to start a movement. A revolution. A peaceful economic revolution. How does this happen? I don't know. God help me."I got over 500 responses, 100 of which I posted at the bottom of my last article, so...Read More
Mission incomplete: Rajan's overhaul of RBI … In a video conference in mid-2014, Reserve Bank of India (RBI) governor Raghuram Rajan told employees that he wanted to hire talented external candidates and improve the quality of research at the 81-year-old central bank. The proposals, described to Reuters by three officials who heard Rajan speak, would hardly seem out of place in any major...Read More
Mission incomplete: Rajan's overhaul of RBI … In a video conference in mid-2014, Reserve Bank of India (RBI) governor Raghuram Rajan told employees that he wanted to hire talented external candidates and improve the quality of research at the 81-year-old central bank. The proposals, described to Reuters by three officials who heard Rajan speak, would hardly seem out of place in any major...Read More
SUBSCRIBE HERE: http://goo.gl/ITTCPWSome First Ladies trend a little closer to John McClane or Rambo rather than the Stepford Wives.CLICK HERE for more ROM.COM SEASON 3 - https://www.youtube.com/playlist?list...CLICK HERE for more CRACKED RESPONDS - https://goo.gl/UgvsUsCLICK HERE for more SPIT TAKES - http://goo.gl/W5JCLuCLICK HERE for more INTERNET PARTY - http://goo.gl/u7DWFMCLICK HERE for more...Read More
Teck Resources (TSX:TCK.B, TCK.A)(NYSE:TCK), Canada's largest diversified miner, logged Thursday a loss of $459 million in its fourth quarter, hurt by an ongoing rout in commodity prices and an asset impairment charge of $384 million (Cdn$536 million).The Vancouver-based company, North America's largest producer of steel-making coal, was hit extremely hard by a plunge in that and other commodities...Read More
Mining giant Rio Tinto (LON, ASX, NYSE:RIO) reported Thursday a loss for 2015 after metal prices, particularly iron ore and copper plummeted last year and are still trading at historical lows.The world's second biggest mining company, which posted a loss of $866 million, has also abandoned its promise to maintain or steadily increase its dividend annually each year. Rio said it could no longer jus...Read More
2016 Canadian Mining Hall of Fame induction ceremony for 2016 CMHF Inductees J. Keith Brimacombe, Harold "Hank" Williams, Stewart L. Blusson, Louis Gignac and Robert M. Friedland. Master of Ceremonies: Pierre Lassonde, Chairman, Franco-Nevada Corporation.Read More
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Rick Rule: The Arithmetic Reason Why the Price of Uranium Will Rise.Read More
A 3 million-gallon spill from the abandoned Gold King Mine in Colorado last year is likely to have deposited more than 880,000 pounds of metals into the Animas River, the U.S. Environmental Protection Agency (EPA) said.According to the agency's preliminary report, some of the metals reached the San Juan River, which the Animas joins in New Mexico, but most settled into the Animas riverbed before t...Read More
The Democratic Republic of Congo has decided not to change its mining code as the move could have driven away investors at a time of historically low commodity prices and energy shortages that are driving down output in the country.Copper production in DRC, Africa's biggest producer of the red metal, fell by 3% to 995,805 metric tons in 2015, the first drop in six years, the Chamber of Mines said...Read More
The B.C. government is throwing the mining industry an emergency lifeline in the form of deferred electricity bill payments that could be worth more than $300 million.Several metallurgical coal mines have closed in B.C. in the last couple of years, due to a prolonged commodity price plunge, and B.C.'s biggest mining company, Teck Resources (TSX:TCK.B) has taken to rotating shutdowns at those that...Read More
Republicans have spent the entire Obama presidency engaging in acts of disrespect against this president, and the office that he has been twice elected to by a majority of the voters. By refusing to give his budget a hearing, House Republicans have moved beyond disrespect of the man and into disrespect of the office of the presidency. It looks like House Republicans are so afraid of the President&...Read More
Republicans have spent the entire Obama presidency engaging in acts of disrespect against this president, and the office that he has been twice elected to by a majority of the voters. By refusing to give his budget a hearing, House Republicans have moved beyond disrespect of the man and into disrespect of the office of the presidency. It looks like House Republicans are so afraid of the President&...Read More