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
The final dividend was in line with its policy of paying out 40% of underlying earnings. Anglo's underlying earnings fell 1% on the year to $3.Read More
The copper miner produced 294,700 tonnes of copper last year, up 14% year-on-year and at the top end of the 270,000-300,000t forecast. Revenue was up 31% on 2017 at $2.Read More
However Katanga's gross profit for the full year increased to $13.4 million from a $6.5 million gross loss in 2017.It said the profit was related to resuming production and ramping up its Whole Ore Leach project at its majority-owned Kamoto Copper Company (KCC), but was impacted by the temporary cobalt suspension due to its uranium content, and increased mine infrastructure and support costs.Katan...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesThe Toronto-based miner reported a loss of US$3.5 million or 1c per share in the fourth quarter, compared with profit of $94.3 million or 36c per share a year earlier.Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftEastern promise for PolarXSPONSOREDpolarxCobalt leader talks about new era for project, IdahoSPONSOREDecobalt solutionsGolden Mile positioned for successSPONSOREDgolden mile resources"Our preliminary review of the DEIS shows no major data gaps or substantive impacts associated with a mine at...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftEastern promise for PolarXSPONSOREDpolarxCobalt leader talks about new era for project, IdahoSPONSOREDecobalt solutionsGolden Mile positioned for successSPONSOREDgolden mile resourcesAustralian and international mining stock price indices have more than doubled since early 2016.Read More
Unusually, too, for the male-dominated mining sector, the CEO is a woman - Saila Miettinen-Lähde - a veteran of nickel producer Talvivaara where the Finnish state is today the largest shareholder. Endomines' production profile is small, at least for now, with its only producing mine, Friday in the US, expected to ramp up this year to an annual tally of about 9,000oz - although expansion is on...Read More
Katanga Mining (TSX: KAT; US-OTC: KATFF) lost $116 million in 2018's fourth quarter to end the year with $13.4 million in gross profit, a result of temporary cobalt sale suspensions, higher reagent costs at its Luilu metallurgical plant and increased mine infrastructure and support costs.The company says its fourth quarter loss was partly offset by higher copper sales in the quarter.The company re...Read More
Montreal-based Osisko Metals has released the maiden resource estimate for its Key Anacon and Gilmour South deposits, collectively the Eastern Bathurst Mining Camp (EBMC) project. The properties are located south of Bathurst.With a 5.5% zinc equivalent cut-off, indicated resources in the Key Anacon Main and Titan zones total 2.0 million tonnes grading 5.77% zinc, 2.38% lead, 0.22% copper, and 68.9...Read More
Canadian miner Hudbay Minerals (TSE: HBM) has plans to double the annual gold output from the Lalor gold-copper-zinc mine 13 km west of Snow Lake, Manitoba. As part of the plan the New Britannia mill will be refurbished at a cost of $95 million raising Lalor gold output to 140,000 oz. per year.The Lalor mine will then be joining the ranks of primary gold producers as one of the lowest sustaining...Read More
The US Army Corps of Engineers has released the Draft Environmental Impact Statement (DEIS), as required under the National Environmental Policy Act, for Northern Dynasty's (TSX: NDM; NYSE : NAK) Alaska Pebble project, one of the richest copper-gold deposits ever discovered.The DEIS is an important milestone and positive development for Vancouver-based Northern Dynasty, its subsidiary Pebble Limit...Read More
On Wednesday, hopes that an escalation of the trade war between the US and China can been avoided (or at least postponed) sparked a massive rally in mining stocks - already buoyed by climbing metals prices.US President Donald Trump said yesterday he may not increase tariffs on Chinese products on March 1, as talks about the trading relationship between the world's two largest economies continue in...Read More
Glencore on Wednesday said it would "vigorously contest" a $680 million tax demand from the British authorities linked to transfer pricing.The Swiss-based mining and trading company has offices in London and is London-listed. The British tax authorities issued formal transfer pricing, permanent establishment and diverted profits tax assessments for the 2008 - 2017 tax years, amounting to $680 mill...Read More
Glencore Plc reported its weakest trading profit in five years and missed analysts' earnings estimates, even as the mining giant promised to increase its rewards to shareholders after a tough year.The disappointing performance in the trading unit is a blow for Glencore, which has always said its traders can make money in any kind of market. The company touts the unit as a differentiator from other...Read More
Miner AngloGold Ashanti can resume a soil study halted by a municipal council ban on mining activities, the environmental authority in Colombia's Antioquia province said.The mayor of the town of Jerico had ordered a suspension of the work in January after the council voted late last year to ban mining in the area.In a decision dated Feb. 18, Corantioquia said it was lifting the stoppage on AngloGo...Read More
Australia's largest gold producer, Newcrest Mining, (ASX: NCM), is expanding its footprint in Ecuador by signing an agreement with Cornerstone Capital Resources (TSX-V:CGP), a Canadian junior with several assets in the country, including a 15% stake in SolGold's Cascabel copper-gold project.Under the deal, a subsidiary of Newcrest will have the option to earn up to a 75% interest in two early-st...Read More