Fed week is exciting for some. Gold bulls and bugs alike hope the Fed will do something or say something that will trigger a huge move in precious metals. It doesn't work like that. The Fed follows the market, which for the Fed Funds rate (FFR) is the 2-year yield. The 2-year yield has been screaming higher over the past 12 months and it implies at least another two rate hikes in the future. That'...Read More
Desert Hawk is a US subsidiary of Meadow Bay Gold Corp (CSE: MAY), which owns the Atlanta project said to have produced 110,000 ounces of gold and 800,000oz of silver between 1975-1985.Read More
Among the highlights, TMAC hit 0.66m at 2,710g/t gold, within a broader 7.1m at 261.4g/t at Doris North BTD; and 50m at 12.9g/t at Madrid North.The company said despite only C$8 million (US$6 million) budgeted for drilling in 2018, it had reported "significant success thus far".The same day, TMAC also announced record processing plant results at Hope Bay for May and plans to improve its balance sh...Read More
Atlas shares closed at 3.6c on Friday and traded as high as 4.6c last Wednesday amid corporate interest by Mineral Resources, Hancock and Fortescue Metals Group.Hancock said its offer represented a superior value proposal for Atlas shareholders relative to the previously announced scrip takeover by Mineral Resources, representing a 41% premium to the implied value of the MinRes proposal as of clos...Read More
In an exclusive interview with Mining Journal, Russian-born businessman and Chaarat director Artem Volynets said he hoped Centerra management "will take its head out of the sand and start negotiating".Read More
The mining sector on London's FTSE100 index ended more than 4% lower on Friday.Among the diversifieds, Rio Tinto (LSE: RIO) had closed down 4.15%, Glencore (LSE: GLEN) was down 4.32% and Anglo American (LSE: AAL) was 4.24% lower.Gold miner Randgold Resources (LSE: RRS) also fell, closing down 3.94%, and copper producer Antofagasta (LSE:ANTO) was off 4.13%.BHP was less impacted in Australian trade...Read More
Lucapa and its partners, Empresa Nacional de Diamantes and Rosas & Petalas, said the sale of the alluvial diamonds recovered from mining blocks four and six generated an average price of $1,150 per carat.The sale took the gross sales proceeds from Lulo so far this year to $15.9 million at an average price of $1,642/ct.The sale excluded a number of large white specials stones and a coloured spe...Read More
According to Credit Suisse's analysis, a potential 1.6 million tonnes of additional copper production is on the cards from significant development in the period 2020-2022, an amount that's somewhere in the order of double what was previously being factored-in for that timeframe.Read More
The industry has been given 30 days to comment on it before it is gazetted, with a summit to be held in two weeks' time to discuss the draft.Read More
"The thing we don't do well, and we would be better prepared if we improved in this area, is collaboration," he told Mining Journal.The 56-year-old is one of the leading mining executives interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published this month."We still very much row our own boats," he explained."But the speed at which collaboration ca...Read More
Libero issued shares, worth about C$936,000 (US$710,000) comprising a 19% stake in the junior, and a 2% net smelter returns royalty to B2Gold for 100% of the project.Mocoa has an in-pit inferred resource of 636 million tonnes at 0.33% copper and 0.036% molybdenum, or 0.45% copper-equivalent, for 6.31Blb CuEq.Libero said Mocoa was near the Ecuador border and was discovered in 1973 when the United N...Read More
CALGARY, Alberta, June 18, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”), raising aggregate gross proceeds of $1,200,000 through the sale of 12,000,000 units (each a “Unit”) at a...Read More
The company's shares started trading on the Nasdaq Stockholm Monday, less than two months after Atlas Copco shareholders voted to spin out the mining equipment and infrastructure businesses at the company's April 24 annual general meeting.The split had been planned for about a year, with Atlas Copco shareholders each receiving one Epiroc share for each of their Atlas Copco shares.Epiroc said its t...Read More
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The Minerals Council South Africa, an industry lobby group, said on Sunday it does not support some elements in the latest draft of an industry charter, including a stipulation that one percent of core profit is paid to communities and employees.South Africa plans to raise black ownership at permit-holding mining companies to 30 percent from 26 percent within five years, the draft showed on Friday...Read More
South Africa's Mineral Resources Minister Gwede Mantashe said on Sunday that 20 out of 45 mining deaths reported since the start of 2018 have taken place at Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) mining sites. To date, #SibanyeStillwater operations are responsible for 20 of the 45 fatalities reported since the beginning of the year. It, therefore, cannot be business as usual in how the Regula...Read More
The U.S. Environmental Protection Agency is planning to dredge contaminated sediment from streambeds and dig ditches to divert water away from tainted rocks and soil, in an effort to clean up wastewater flowing from 26 old mines in southwestern Colorado.According to the Associated Press, such efforts are part of an interim plan the EPA is advancing with the idea of keeping toxic heavy metals from...Read More
(Bloomberg) -- If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying.A full-out trade war between the U.S. and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s U.S. tariffs by cutting imports of raw materials, hurting corporate revenue and weighing on metals prices.If it also...Read More