Oyu Tolgoi (Credit: Turquoise Hill Resources) Turquoise Hill Resources (NYSE: TRQ) reported on Thursday that Oyu Tolgoi mine Q1 gold production plunged 78% year-over-year to 26,154 ounces and that copper output slid 23%, to 35,203 metric tonnes.The Rio Tinto-controlled company that operates the mine in Mongolia reported that sales in January and February were impacted by curtailed operations in C...Read More
Barrick Gold introduces autonomous trucks at Nevada mines. Image from Komatsu Press Release Withthe coming age of Industry 4.0, it's no longer prudent, strategic oreconomically smart to wait until a critical mining asset has broken down to fixthe machine. Equipment breakdowns are often costly on many levels - downtimemeans productivity is affected, parts can be expensive and then there are thewas...Read More
China's EV industry runs rings around the US and Europe. Image: Nanpu Bridge, Shanghai. Nickel-cobalt-manganese cathode chemistries dominate global lithium ion electric vehicle battery production - though Tesla is doing its best to change that. The fact that the Democratic Republic of Congo is the source of more than two-thirds of global production and China's control of refining is north of 80%...Read More
Eagle River Complex, Mishi - Open Pit. Image courtesy of Wesdome River Gold Mines LtdWesdome Gold Mines (TSX:WDO) announced on Thursday its gold production results for the first quarter of 2020, with consolidated output of 25,122 ounces, a 32% increase from 19,010 in the same period in 2019. Sales rose 41% year-on-year to 26,500 ounces from 18,760. Sales rose 41% year-on-year to 26,500 ounces fro...Read More
Sorting diamonds. Image from Alrosa. Russian diamond miner Alrosa reported on Thursday diamond production of 8 m carats in Q1 2020, a 9% drop in comparison to the previous quarter, but 2% growth year-over-year.Alrosa said the drop was due to lower production at the Aikhal underground mine and the Botuobinskaya pipe. The company attributed the 2% growth y-o-y to increased production at the Aikh...Read More
New shares that were issued in the placement at 0.5c each reached 8.5c today, representing a notional 1600% return.Read More
Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click hereBase and Madagascan authorities have yet to agree on the fiscal terms of the proposed Toliara development.Meanwhile in Kenya, the Kwale operation reported production incr...Read More
DRA has been closely involved with the project from the preliminary economic assessment stage through to the most recent feasibility study, placing it at the top of the list of several international engineering firms that competed for the EPCM contract via a competitive tender process.The engineering phase of the project will be done through the DRA's offices in Montreal and Toronto and the site-b...Read More
The First Environmental Court said it would process the lawsuit filed by the State Defense Council (CDE), which accuses Minera Escondida of causing "continuous, cumulative, permanent and irreparable environmental damage to the Punta Negra salt flat".The CDE case is based on seven aspects, according to the court, namely: a severe decrease in the levels of the salar aquifer, which compromises its re...Read More
Share this articleTORONTO - Barrick Gold says it's on track to achieve its production guidance for this year despite the impact of the COVID-19 pandemic.The disclosure by Barrick that it is well positioned to meet its full-year targets comes as businesses around the world adjust to a dramatic pullback in activity amid widespread preventative health measures.The gold miner says it produced 1.25 mi...Read More
Today is Thursday, April 16, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,730.50. It's up 0.81% from yesterday and up 35....Read More
Today is Thursday, April 16, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Equitrans Midstream Corporation (NYSE: ETRN), Montage Resources Corporation (NYSE: MR), and Exterran Corporation (NYSE: EXTN).Equitrans Midstream Corporation (NYSE: ETRN)Equitrans Midstream Corporation (NYSE: ETRN) is a $1.557 billion company today with a one-year return of -69...Read More
There are no two ways about it ...A recession is well on its way, and there's nothing anyone can do now to stop it.Bailout checks, Federal Reserve Hail Marys and bureaucratic buffoonery will be the equivalent of putting a piece of gum on the crack of a failing dam.It sucks.Make no mistake, the falsified data from China, the WHO's glaring incompetence, lack of preparation from Washington, and conti...Read More
For a junior exploration company with a market capitalization of $3 million, the prospect of acquiring a gold project with a past producing mine in the U.S., where Rio Tinto (NYSE: RIO; LSE: RIO) may spend up to US$30 million to earn a 70% stake, sounds almost too good to be true.But that's exactly what American Pacific Mining (CNSX: USGD; US-OTC: USGDF) pulled off this week in an all-share deal w...Read More
First Nations in Quebec and Labrador have raised concerns about the reopening of mining operations in Quebec, fearing that movement in and out of fly-in/fly-out camps will increase transmission of the novel coronavirus into their communities.In a statement, Assembly of First Nations Quebec-Labrador (AFNQL) Chief Ghislain Picard noted that many mines in the province are located on First Nations ter...Read More
A Chilean environmental court will look into the State Defence Council's (CDE) allegations that the Escondida copper mine, the world's largest, has caused "irreparable damage" to the Punta Negra salt flat, in the northern Antofagasta region.In the lawsuit filed against the mine, majority-owned by BHP (NYSE: BHP; LSE: BHP), the government agency claims Escondida generated, between 1990 and 2017, "c...Read More
Solstice Gold (TSXV: SGC) has completed a new technical report on its Kahuna gold project, located 26 km northeast of Rankin Inlet and 15 km from Agnico Eagle Mines' (TSX: AEM; NYSE: AEM) Meliadine gold mine in the Kivalliq region of eastern Nunavut."The updated technical report validates our exploration strategy and modelling for Kahuna, and confirms it as an attractive, early-stage exploration p...Read More
Global Atomic (TSX: GLO; US-OTC: GLATF) has completed a preliminary economic assessment (PEA) for the first phase of a larger underground mine at its Dasa uranium deposit in the Republic of Niger.During the first phase, the operation would operate for 12 years and mineralization would be extracted from the high-grade Flank zone."Our development plan is a low capex route into production that uses c...Read More
Have you heard the one about the atheist in the coffin?"He's all dressed up with nowhere to go."That's exactly how I felt when I filled up my Jeep this week for an astounding $1.66 a gallon.Normally, I would have been thrilled - Jeeps aren't known for being the most fuel-efficient cars around and my daily commute to work costs me a pretty penny in a normal week. But my giddiness quickly turned to...Read More
By Ira EpsteinRead More