The company said it had entered into a scheme implementation deed for the A$1.01 per share cash takeover. The price represents a 45.3% premium to Zenith's last closing price of 69.5c on Friday.Read More
A recent Supreme Court of Canada decision has confirmed the right of Indigenous communities to sue companies for aboriginal title claims that span provinces without needing to file multiple lawsuits.The ruling on Feb. 21 is the latest development in a years-long attempt by two Quebec Innu groups to sue Rio Tinto (NYSE: RTP; LSE: RIO) and its subsidiary, the Iron Ore Company of Canada (IOC), for a...Read More
Grasberg (pictured) is the world's second-largest copper mine, as well as being one of the five-biggest gold mines.( Screenshot from Time-lapse video | YouTube.) Freeport-McMoRan (NYSE: FCX) announced on Monday that it will grow its copper and gold volumes by 30 to 40%.The company also said it will reduce net unit cash costs of copper by 25% to approximately $1.30 per pound and more than double...Read More
Endeavour's Agbaou Gold mine in C??te d'Ivoire. Image from Endeavour. Endeavour Mining (TSX:EDV) on Monday reported that its 2019 production increased by 6% year-on-year to 651,000 oz at an all-in sustaining cost (AISC) of $818/oz, meeting guidance for the 7th consecutive year.But annual output was at the bottom end of the 650,000-695,000 oz guidance range due to the slower-than-expected ramp-up...Read More
Culiacan, Sinaloa, Mexico. Stock image. The initial seven holes completed by Vizsla Resources at the Panuco silver-gold project in Mexico returned high-grade intercepts from an area surrounding historic workings as well as from a new vein discovery.Drill highlights include 3.55 metres of 364 g/t silver-equivalent from the Paloma vein, a newly discovered structure, and 2.6 metres of 404 g/t silv...Read More
Image from RPM Global. Mining technology and consulting company RPM Global has launched the Talpac-3D software package, an addition to its suite of mining simulation solutions aimed at helping companies unlock value from their operations.After detailed consultations with Talpac's global user base, RPMGlobal released Talpac-3D to offer an enhanced user experience, increased functionality and a s...Read More
MBI global logo MBI Drilling has embarked on a new phase, becoming MBI Global. As part of its focus on the future of the international mining industry, the company revisited the MBI brand with a rebranding effort.MBI Global will join forces with its partners, Versa Drill Canada, Pilot Diamond Tools, Premier Mining Products, N&N Drilling and Drillware, to bring a competitive edge to the gl...Read More
The United Nations Conference on Trade and Development said yesterday it expected the COVID-19 outbreak's negative impact on global foreign direct investment flows to be between -5% to -15% this year.Meanwhile equities in the Middle East plunged on Sunday as Saudi Arabia slashed the price of its crude after producers failed to agree on supply cuts, Bloomberg reported.Diversified miner and oil and...Read More
New York-based Jefferies, which also highlighted MMG's operational risks in a weekend note on the 75%-China Minmetals Corp owned company, said its high level of exposure to a weaker copper price was one concern, but probably not as big a problem as its "relatively high operating risk [Las Bambas and Kinsevere] and a levered balance sheet"."Net debt was reduced by $226 million to $7.47 billion at t...Read More
Under the proposed three-year mining services contract, Barminco says it will bring industry-leading technology and productivity to Hemlo in support of Barrick's goal to modernise and improve the performance of the mine and establish it as a tier two asset within its group.Barminco's scope of work includes undertaking mine development, production and haulage, using Barrick's mining equipment.The c...Read More
Its announcement comes as South African miners said they could mobilise "large-scale medical facilities" if needed, Western Australian producers agreed to form a working group to address key coronavirus concerns, and attendance last week at PDAC 2020, the world's biggest annual exploration and mining convention, was lower as contagion fears kept some away.Canada-based Barrick said it had not yet d...Read More
Share this articleDONKIN, N.S. - Nova Scotia's Labour Department says a stop work order has been partially lifted at the Donkin coal mine in Cape Breton.Production was shut down Feb. 13 after a rockfall in an area of the mine that saw another roof collapse two weeks earlier.There were no injuries reported in either incident, which occurred at an intersection between two coal seams inside the unde...Read More
Today is Monday, March 9, 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 $1,673.25. It's down -0.03% from yesterday and up 29....Read More
Today is Monday, March 9, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Kinder Morgan (NYSE: KMI), Cenovus Energy (NYSE: CVE), and Vermillion Energy (NYSE: VET).Kinder Morgan (NYSE: KMI)Kinder Morgan (NYSE: KMI) is a $36.81 billion company today with a one-year return of -3.35%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-value-to-...Read More
I was planning on sending out an article today talking about investing in precious gemstones - red diamonds, padparadscha sapphires, Burmese rubies, old mine emeralds, and the like.But a precipitous drop in oil prices last night demands that I address a bad buy call on crude last Friday.The price of crude oil plummeted in overnight trading after an apparent breakdown of the OPEC+ alliance, which h...Read More
Ivanhoe Mines (TSX:IVN; US-OTC: IVPAF) said that progress at its Kakula project, the first of multiple planned mining areas at Kamoa-Kakula in the Democratic Republic of the Congo, continues to move forward, with production slated for the third quarter of 2021.Delivering full year results and an update on activities, the Canadian miner said once the ongoing definitive feasibility study for its Kak...Read More
Max Resources (TSXV: MXR; US-OTC:MXROF) has discovered a high-grade outcrop at its wholly owned Cesar copper-silver project in northeastern Colombia, about 140 km north of the capital, Bogota.The Cesar project comprises two mineralized zones, AM North and AM South. Assays from the AM North-2 mineralized area within the AM North zone of the project, recently returned 24.8% copper and 230 grams silv...Read More
In the Peruvian highlands, a refinery said it had found a sustainable source of artisanal gold. Prosecutors suspect its main supplier was a front for dirty money. What went wrong?Read full newsRead More
Both the metal and the shares of miners who produce it have risen this year. Some bulls see gold testing its record high of $1,900.Read full newsRead More
Both the metal and the shares of miners who produce it have risen this year. Some bulls see gold testing its record high of $1,900.Read full newsRead More