A plan to build Zimbabwe's biggest platinum mine at a cost of about $4 billion is floundering because a military stake in the project has deterred potential backers, according to people familiar with the funding discussions.The African Export-Import Bank has the mandate to raise money for the mine, a joint venture between Russian and Zimbabwean investors. While the bank provided $192 million of it...Read More
Ontario's government is working for the people by investing in Manitoulin's local aquaculture industry, creating four full-time jobs."We're helping local businesses create good jobs and do work that supports Manitoulin's growing aquaculture industry," said Greg Rickford, Minister of Energy, Northern Development and Mines. Ontario is investing more than $1.2 million in three businesses: John O Food...Read More
Aurubis AG, Europe's largest copper producer, on Wednesday confirmed a reduced full-year earnings forecast on weak market environment and plant shutdowns, while posting a slump in its quarterly earnings.Aurubis expects operating pre-tax earnings (EBT) in its 2018/19 fiscal year to fall "significantly" by more than 15% compared with the previous year. The copper producer in February had forecast fu...Read More
The world's top platinum miners are bracing for a fresh round of negotiations with South African workers as a rise in producer profits is likely to provoke higher wage demands from labour unions including the militant AMCU.Higher prices for palladium and rhodium and a weaker rand currency have boosted profits at miners such as Anglo American Platinum (Amplats), Sibanye-Stillwater, Impala Platinum...Read More
"Sirona Biochem Receives Positive Clinical Results of its Skin Lightening Compound TFC-1067 from China -- #SironaBiochem $SBM $SBM.CA $SBM.V @SironaBiochem #health #Skinlightening --Read the News Release here: https://t.co/4GLQorRJX1"Read full newsRead More
Currie Rose Resources (TSXV: CUI) received this week the approval of its notice of work permit application, which allows the company to start drilling at its Rossland gold project in southern British Columbia.In a press release, the Toronto-based miner said that the upcoming drill campaign is based on a review of all exploration data within the project.Besides gold, historical records identify sig...Read More
The Dubai Multi Commodities Centre and the China Gems and Jade Exchange signed a memorandum of understanding to create new trading opportunities between the United Arab Emirates and China.The China Gems and Jade Exchange is a national-level gemstone trading platform approved by the State Council of China.In a press release, the parties explained that the idea is to connect buyers and sellers of g...Read More
China's crude oil throughput rose in April to match record daily levels, go...Read full newsRead More
Near 17% decline in Chinese car sales in April - the 11th monthly drop in a row - compounds impact of Washington-Beijing trade salvoes.Read full newsRead More
The biggest mining companies say they are well positioned to provide the metals needed for the shift to EV technology.Read full newsRead More
No decision will be made until the end of 2020, when the company expects to have completed a study on the Jadar, which is estimated to contain 10% of the world's lithium reserves.Read full newsRead More
Top global miner tells investors it can mine potash for only $100 a tonne at $7 billion Saskatchewan fertilizer project.Read full newsRead More
Canada's Ivanhoe Mines (TSX:IVN) said Tuesday it's ready to start building its first two copper mines in the Democratic Republic of Congo and significantly advance a third project after partner Zijin Mining Group added an additional C$67 million (about $49m) into the Canadian company's coffers.Zijin, China's No.1 gold producer and Ivanhoe's partner in the now massive Kamoa-Kakula copper project...Read More
As Coast Salish People, we cannot allow any mining operations in the Skagit River Headwaters because we must restore our salmon and preserve the rights of all those for whom salmon are a cultural lifeblood.Read full newsRead More
The U.S. stock markets sure feel inflectiony, at a major juncture. After achieving new all-time record highs, sentiment was euphoric heading into this week. But those latest heights could be a massive triple top that formed over 15 months. Then heavy selling erupted in recent days as the U.S.-China trade war suddenly went hostile. The big U.S. stocks just-reported Q1'19 fundamentals will help dete...Read More
While gold undeniably has a place in just about any portfolio at the moment, there are two metals in particular that may be even more defensive for new investors: palladium and copper. Palladium is sometimes overlooked as an investment, but its ubiquity in the electronics industry makes it a sound choice; copper, meanwhile, shows all the signs of being a quintessential metal to add to a mining por...Read More
Perhaps the perma-bullish Wall Street analysts should contribute to retail sales by stocking up on Depends - like the Merrill Lynch analyst who forecast retail sales to climb 0.7% ex-autos. Retail sales, preliminarily, were said to have declined 0.2% from March. The "core" retail sales group - retail sales not including autos and gasoline - were flat. Wall Street's finest expected a consensus...Read More
Market futures were pointing to an upbeat start around the world today amid hopes further US-China trade talks would be successful.There was also anticipation of further economic stimulus measures in China, after data out today showed industrial output, retail sales and investment all slowed in April, Bloomberg reported.The gold price is a little softer than this time yesterday but is still a...Read More
I'm not far off saying that the Permian Basin is officially the worst-kept secret in the U.S. oil boom.Here we are more than a decade into the tight oil boom, and it's become glaringly obvious to everyone that the biggest profits are in West Texas.For most, the Permian Basin's true value was hammered home last year, when the USGS announced that the Wolfcamp shale and Bone Spring formation in Texas...Read More
Columbus Gold (TSX: CGT; US-OTC: CGTFF) wants to become a dominant player in the fledgling gold mining industry in French Guiana, an overseas department of France on the northeast coast of South America, which is made up mainly of tropical rainforest.The junior and its Russian partner, Nordgold, already own 44.9% and 55.01% of the Montagne d'Or gold deposit in northwestern French Guiana, where the...Read More