Part 2: The AuctionIn case you missed it yesterday, here's Part 1.Our new three-part series covers the legendary tale behind the Voisey's Bay nickel discovery - one of the most famous mining exploration stories of all time.Part 2 covers the high-profile bidding war that ensued between rival companies such as Teck, Inco, and Falconbridge to buy Voisey's Bay.Presented by: Equitas Resources, "Nick...Read More
Dave Lowell walks his ranch south of Tucson. Image from YouTube/CEO.ca.Simply put, you just have to be out of the office, in the field and drilling holes if you want to be making discoveries says legendary explorationist and geologist, Dave Lowell, in his book Intrepid Explorer - The Autobiography of the World's Best Mine Finder.Lowell-this past century's most successful mining explorationist h...Read More
A new mine level being constructed at Codelco's El Teniente, the world's largest underground copper operation and the sixth biggest copper mine by reserve size, will extend its life by 50 years.Chile's government will give state-owned copper miner Codelco $600 million in funds to finance its investment plans, as the world's No.1 producer of the industrial metal battles to keep up production at its...Read More
Modern treaties have boosted incomes in First Nation communities and have led to more resource development, according to a new C.D. Howe Institute Report.Treaties signed in Canada since the 1970s have greatly benefited First Nations and mining companies, as they have boosted the average annual income of such communities and lead to greater development of natural resources, a new study released Wed...Read More
Part 1 of 3: The DiscoveryOur newest three-part series covers the legendary tale behind the Voisey's Bay nickel discovery - one of the most famous mining exploration stories of all time.Part 1 puts the story in context, and details the events leading to the initial discovery in Labrador.View The Story of Voisey's Bay: DiscoveryCourtesy of: Visual CapitalistPresented by: Equitas Resources, "Nic...Read More
The government hopes production will soon begin at the Fruta del Norte. The project is one of the world's biggest recent gold discoveries, containing about 6.7 million ounces of proven and probable gold reserves and 9 million ounces of proven and probable silver reserves. (Image courtesy of Lundin Gold)Ecuador aims to attract at least $750 million in foreign mining investment during the first quar...Read More
Source: GFMS Thomson ReutersThe third quarter gold survey by GFMS Thomson Reuters calculate global primary gold production rose 2% in the first half of the year to 1,507 tonnes.Most of the growth too place in Asia and where production across the region grew by double digits.That was thanks to increased production in top gold mining country China, which added nearly 10 tonnes for first half product...Read More
Shares in Sandstorm Gold Ltd. (TSE:SSL, NYSE MKT:SAND) dropped sharply on Tuesday in heavier than usual volumes, after the company announced the signing of a production streaming deal with fellow Canadian miner Yamana Gold Inc (NYSE:AUY, TSE:YRI) and bought deal financing with a syndicate of banks.In early afternoon trade the Vancouver-based company was trading at $2.64, down more than 12.6% in...Read More
For investors willing to take a long-term view on their resource portfolios, this could be the best of times, says U.S. Global Investors CEO and Chief Investment Officer Frank Holmes. If you add patience to your portfolio management strategy, holding discounted oil and gas and metals mining stocks is one way to leverage the price equilibrium that will come when China's growth hits the market. In t...Read More
Slowing growth in China and Brazil, muted conditions in Europe and a weak recovery in the US will continue to pressure global base metal prices, says Moody's.Prices for iron ore, copper, nickel, aluminum and other metals have been in a multiyear slump amid sluggish growth in advanced economies and weakening expansion in emerging markets.Unfortunately, the trend won't be fading anytime soon, Moody'...Read More
Do you have wealth insurance? Tocqueville Gold Fund Portfolio Manager John Hathaway has studied the past and he sees a bright future for those who have taken the precaution of protecting themselves from the downside of a general bear market by buying resource mining stocks when they are at historic low prices. In this interview with The Gold Report, Hathaway shares the names the fund is holding as...Read More
The Australian Government has been called on to take more notice of the nation's important economic footprint in Africa."Australia has a key role to play in helping Africa realise its mineral potential and contributing to the African Union's Africa Mining Vision," Australia Africa Mining Industry Group (AAMIG) Chairman, Mr Bill Turner, said in Perth today."Over the past two decades, investment by...Read More
Is the bottom in? Rick has seen too many cycles to answer a question like that. Despite the many claims, truth is, nobody knows yet. But his previous call for a potential capitulation in October is likely off the table.Watch Interview with Rick RuleTalking points of this week's interview -?EUR? Is there more upside or downside??EUR? How a US dollar rally will impact the latest rally in miners??EUR...Read More
The mine, located at 4,000 metres in the south of the South American country, is set to deliver 400,000 tonnes of copper per year during the first five years of production placing it within the top three copper mines globally.MMG's Las Bambas copper mine in Peru, one of the world's biggest mines of the red metal, is on track to begin production in the first quarter of 2016, despite weak prices and...Read More
Staffing at the Myra Falls zinc and copper mine near Campbell River has been reduced to a skeletal level, with 88 workers laid off this week after the owner postponed capital projects at the site.Citing continued low commodity prices, Switzerland-based Nyrstar said Thursday (October 22) it has postponed funding of mine upgrades, which means the mine remains idle. Operations at Myra Falls were susp...Read More
The big accident could have been averted if the agency had had greater expertise and acted more prudently, according to a government assessment. (Image from archives)Results of a government probe released Thursday say the U.S. Environmental Protection Agency (EPA) is to blame for the blowout at the abandoned Gold King Mine in Colorado, which caused a massive spill of mining wastewater into local r...Read More
After five years of unrelenting declines only punctuated by a couple of false dawns (talking 'bout you nickel) green shoots are appearing in the metals and mining sector.There's BHP whipping up enough excitement with a "commodity premium" (whatever that is) to amass orders in excess of $13 billion for a bond offering. Unusually, lots of interest for the hybrid offering came from Asia according to...Read More
The company plans to further cut copper and molybdenum output, including a potential shutdown of its Sierrita mine (pictured) in Arizona. (Image courtesy of Freeport-McMoran)U.S. copper miner Freeport-McMoRan (NYSE:FCX) was the second company to announce Thursday it has swung to a third-quarter loss after a massive write-down tied to the firm's ailing oil and gas operations.The Phoenix, Ariz.-ba...Read More
Teck, the largest producer of steel-making coal in North America, said the write-downs reflect lower expectations for commodity prices.Canadian mining giant Teck Resources (TSX:TCK.A, TCK.B), (NYSE: TCK) swung to a loss in the third quarter of the year due to a $1.7 billion (Cdn$2.2 billion) asset impairment charge in its steel-making coal and other businesses.The Vancouver-based company, the lar...Read More
Australia's Clean TeQ Holdings Limited, a long-time industry leader in environmental remediation, has recently partnered with China's largest power generator to treat waste water with its unique continuous-ion technology. This technology also allows Clean TeQ to extract metals from minerals and industrial waste, but as Clean TeQ Chairman Sam Riggall explains in this interview with The Gold Report,...Read More