Anglo American slowed the development of its $5.3 billion Quellaveco copper mine in Peru, pictured. Image from Anglo American. The share of global mining projects that advanced to the next stage of development has decreased from 3.8% in Q4 2019 to 2.8% in Q1 2020, and is expected to slow further in Q2 2020 due to the coronavirus outbreak, according to a new report by energy research company Globa...Read More
Due to the ongoing covid-19 pandemic, MIINING.COM's sister publication, The Northern Miner, is transforming the 2020 Canadian Mining Symposium into an online e-conference. While this changes the format of the Canadian Mining Symposium, it also creates new opportunities as it can now accept more delegates, broadcast exclusive content from different parts of the world, and achieve new levels of i...Read More
Key moves in the mining sectorPeter Fairfield has joined the board of Aurcana.Nick Demare is now on the board of Blue Sky Uranium.Joseph Ovsenek has joined the board of Central Timmins Exploration with Charles Gryba resigning as a director, president and CEO of the company. Gryba will continue as a technical consultant; Central Timmins is searching for a new president and CEO.Peter He...Read More
View of the Pueblo Grande project. Image from Precipitate Gold. Precipitate Gold (TSXV: PRG) has closed its previously announced non-brokered private placement of 12.7 million common shares of the company at a price of C$0.11 per share for gross proceeds of approximately C$1.39 million, as subscribed for by Barrick Gold.Earlier this week, the two companies entered into an earn-in agreement, grant...Read More
China has nearly 8,000 tailings dams, the most in the world. (Image: AZ China.) China has launched a one-month probe into the country's tailings dams after a spill at a molybdenum mine last month contaminated water supplies to the northeastern province of Heilongjiang.Mining waste flowed out of a YichunLuming's tailings storage facility in March, polluting water up to 110 kmdownstream and forcing...Read More
"We reported on March 11 that we will need to raise $150 million to complete the feasibility study and for regional exploration and there are no changes to that, so within the next couple of weeks weRead 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 here.Mined copper production in the March quarter dropped 8% year-on-year and 4% quarter-on-quarter to 133,000 tonnes due to lower grades.Rio now expects mined copper product...Read More
Today is Friday, April 17, 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 $1,723.40. It's up 0.29% from yesterday and up 35.26...Read More
Today is Friday, April 17, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of ConocoPhillips (NYSE: COP), Callon Petroleum (NYSE: CPE), and Enerplus Corporation (NYSE: ERF).ConocoPhillips (NYSE: COP)ConocoPhillips (NYSE: COP) is a $33.47 billion company today with a one-year return of -33.77%. Let's look at its price-to-earnings (P/E) ratio, its enterprise...Read More
KORE Mining (TSXV: KORE; US-OTC: KOREF) has reported a preliminary economic assessment (PEA) for its wholly-owned Imperial gold deposit in the desert region of southeastern California, 14 km from Equinox Gold's (TSX: EQX; NYSE: EQX) Mesquite mine.The PEA forecasts an average annual production of 146,000 oz. gold over a mine life of eight years for a total production of 1.2 million oz. at all-in su...Read More
Barrick Gold (TSX: ABX; NYSE: GOLD), the world's second-largest producer of the precious metal, expects first-quarter gold output to fall by 8.5%, as it has had to scale down operations due to measures to stop the spread of COVID-19.Barrick now expects to churn out 1.25 million oz. gold in the first three months of the year, slightly below the 1.37 million oz. it produced in the first quarter of 2...Read More
Thor Explorations (TSXV: THX) is moving forward with its Segilola project in Nigeria after securing a US$98-million financing.Once completed, Segilola, located 120 km from Lagos, will become the country's first large-scale gold mine.Thor said the financing package totalled US$104.5 million, coming mostly from long-term investor Africa Finance Corporation (AFC). The institution will contribute US$5...Read More
Rio Tinto (NYSE: RIO; LSE: RIO) signalled on Friday a recovery in China's economy, as it reported improved shipments of iron ore to the country, but the company cut its forecast for annual copper output citing coronavirus-related disruptions.The company, the world's top iron ore miner, posted higher-than-expected output of the steelmaking ingredient for the first three months of the year. Producti...Read More
Even before COVID-19 had been declared a pandemic, the mining industry in Canada's northern territories was facing challenging circumstances. The ongoing protectionist trade wars were leading to lower commodity prices, and the impact on potential mine closures and decreased exploration expenditures was becoming more dire.According to preliminary figures released in February by Natural Resources Ca...Read More
We've been warning about negative rates for years.Well, it's taken a little bit longer than expected, but they're finally here.Interest rates on short-term Treasury bills turned negative in late March, when one-month T-Bills were trading at a negative yield of minus-15 basis points.So it's already happening, somewhat naturally as demand for the perceived safety of U.S. Treasuries surges. But negat...Read More
Mine and project closures related to COVID-19 have begun to drive the uranium spot price higher, helping the metal break past $27 per pound.Read full newsRead More
By: RambusI would like to show you some very long term charts for the PM complex I used to look at the big picture and big reversal patterns. I like to use the quarterly line chart as it takes out much of the noise a quarterly bar chart can make. A quarterly line chart only uses the quarterly close so the symmetry isn't there but the big reversal patterns still show up. Also I will switch back t...Read More
By: Ira EpsteinMasks are here for long to come. See what the Presidential briefing says. In Gold, Higher-highs, higher-lows. Support for June above $1670..Read More
By: Gary SavageI warned several weeks ago that this would be a V-shaped recovery followed by a regression to the mean. Every Central Bank around the world..Gary Savagehttps://blog.smartmoneytrackerpremium.com/Read More
""With the safety measures we have put in place at all our sites, we are confident that we can adapt our business and continue to create long-term value for our stakeholders."??"^?oe...See these tickers:$NLR $RYO $AUX $VSR $SSE $CBI $SMN $CCW#MomentumStockshttps://t.co/opyTRaMvCd"Read full newsRead More