Newcrest Mining Ltd Chief Executive Sandeep Biswas said on Monday his company would pursue a potential acquisition only if it were the right value for investors, adding that he would prefer to buy assets rather than whole companies."We are happy to do M&A if it's the right value for shareholders," Biswas said at the BMO Global Metals & Mining Conference. "The entire focus in not on the size of oun...Read More
Freeport-McMoRan Inc Chief Executive Richard Adkerson said on Monday his company has been investing heavily to mitigate any danger from tailings dams and is "comfortable" with engineering designs in place at existing dams.Adkerson's comments come a month after a Brazilian tailings dam controlled by rival Vale collapsed, killing more than 300.Phoenix-based Freeport controls 19 active tailings dams...Read More
The gold miners' stocks surged strongly last week, blasting to new upleg highs. The mounting gains are naturally driving more interest in this small contrarian sector, shifting sentiment towards bullish. Despite their accelerating rally, gold stocks still remain fairly low technically and deeply undervalued relative to gold. So their strengthening upleg likely has plenty of room to run consi...Read More
Bezant buzz builds around big projectsSPONSOREDbezant resourcesWhite Gold Corp a major force in Yukon as exploration drive reaps dividendsSPONSOREDwhite gold corpQuality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithium"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftThe case was one of three class actions filed agains...Read More
Bezant buzz builds around big projectsSPONSOREDbezant resourcesWhite Gold Corp a major force in Yukon as exploration drive reaps dividendsSPONSOREDwhite gold corpQuality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithium"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftTo even suggest the world's second-biggest mining co...Read More
Scientists are calling on mine operators to restore animal communities when they carry out site rehabilitation programs.According to a paper published in the journal Pacific Conservation Biology, the impact of mining on animals is overlooked as fauna tends to be under-recognized in assessments of restoration success. Based on a global review of literature, the Curtin University study found that ov...Read More
Mining chatter in the Yukon these days is all about the yellow metal. It's been that way for at least 10 years, according to geologist Mike Burke, who spent more than 20 years working for the Yukon Geological Survey before moving to the private sector."People were having a hard time in 2008, and then along came Kinross and bought Underworld Resources. That started an area play," Burke recalls.Now...Read More
An indigenous community in Peru has blocked Chinese miner MMG Ltd from using a road to transport copper from its massive Las Bambas mine to a port for shipment for the past 10 days, a lawyer representing the community said Friday.The community of Nueva Fuerabamba says the government illegally turned the road, which runs through its farmland, into a national highway, and wants to reach a deal with...Read More
The price of copper surged nearly 3% on Friday after stocks held in global warehouses operated by the LME fell to the lowest since 2005.Copper for delivery in March hit $2.9535 per pound ($6,510 a tonne) by midday on the Comex market, the highest level since the start of July last year. The price spiked in heavy volumes with nearly 1.5m tonnes worth $9.5 billion traded by lunchtime in New York.Glo...Read More
Chile's mines minister Baldo Prokurica on Friday maintained the government's 2019 copper price prediction of $3.05 per pound.Prokurica told a press conference in Santiago he was holding the price outlook amid optimism around US-China trade talks taking place in Washington at present.(By Marion Giraldo and Aislinn Laing; Editing by Chizu Nomiyama)Read More
About 20 people died on Wednesday when a truck carrying acid to Glencore's Mutanda Mine in Democratic Republic of Congo collided with two other vehicles, Glencore said on Friday.The accident occurred in the evening about 50 kilometres (31 miles) from the copper and cobalt mine in the southeast of the country.The truck was owned by a logistics company contracted by the mine, Glencore said, without...Read More
Galway Metals (GWM.V, GAYMF) is a Canadian exploration stock with two prospective projects located in strategic locations. Fundamentally, some things stand out.1. InsidersOver 30% of outstanding shares are in the hands of management and insiders. High quality management as both CEO and Chief Geo come from Kirkland Lake Gold (KL.TO) where they also held management positions. Another reputable insid...Read More
Eastern promise for PolarXSPONSOREDpolarxIt said almost US$8 billion is being invested in the development of three copper projects: Quellaveco ($5 billion), Mina Justa ($1.6 billion) and Toromocho expansion ($1.3 billion).Read More
Eastern promise for PolarXSPONSOREDpolarxIn the face of increasing levels of complaints from local communities about miners using freshwater sources, the DGA aims to make it more difficult for them to access the precious resource by moreRead More
As expected, curbs placed on B.C.'s housing market have resulted in lower new housing starts and a loss of about $325 million from property transfer taxes.Last year's budget installed tax curbs to slow down B.C.'s runaway housing market, including increases to the property transfer and school taxes on homes valued over $3 million, and a new real estate speculation tax.But the government isn't coun...Read More
In a belated response to falling fresh-water levels in desert areas, Chile is moving to protect a natural resource that has been depleted after decades of mining activity.With complaints from local communities rising and the effects of climate change worsening, the world's largest copper producer is planning to implement measures that will make it more difficult for miners to pump fresh water.Chil...Read More
Is copper finally about to break up out of its well-trodden seven-month range?London Metal Exchange (LME) three-month copper came tantalisingly close on Wednesday with a mini-surge to $6,426.50, challenging the upper band of the $5,725 to $6,440 range that has defined the market since July 2018.The market was regrouping Thursday around the $6,380 level.Glencore set the ball rolling with an announc...Read More
* Share price eases after gains over last year* Supports independent body to oversee tailings dams* Still sees Brazil as favourable place to mine* Open to considering buybacks 'at right time' (Updates with share price, CEO comment, analysts)Anglo American reported on Thursday better than expected core earnings, driven by higher copper and coal prices, but said no financial performance was "worth a...Read More
Canadian miners continued going down the slippery slope in the last three months of 2018 due mostly to weak commodity prices, triggered by a slowdown in China's economy near the end of the year, the latest report by Ernst & Young (EY) reveals.As a result, EY's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mi...Read More
As U.S. markets re-open after the holiday, the world's "queen of assets" continues her glorious ascent to higher prices. Please click here now. Double-click to enlarge this magnificent short term gold chart.The rise above $1332 ushers in my new short-term target: $1355!Please click here now. Gold is well on its way to becoming a mainstream asset like stocks and bonds.The reason for that is the "...Read More