Brazilian miner Vale SA on Tuesday declared force majeure on some iron ore contracts after a court-ordered halt to a mine responsible for nearly 9 percent of its output following a dam burst which likely killed more than 300 people.The force majeure on some iron ore and pellets sales contracts came after a court on Monday ordered it to stop using eight tailings dams, including one affecting produc...Read More
Newrange Gold Corp. (TSXV:NRG, OTC Pink:NRGOF) (Read full newsRead More
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Canada-listed junior miner Thor Explorations (TSX-V:THX) is getting ready to begin construction at its Segilola project in Nigeria, poised to become the country's first large-scale gold mine.Delivering the results of an independent definitive feasibility study (DFS) for the proposed gold operation, Thor said it planned to build an open pit mine as well as a new 625,000 tonnes per annum processing...Read More
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Commodities Analysis by Investing.com (Barani Krishnan/Investing.com) covering: Crude Oil WTI Futures, Vale SA ADR, Nickel Futures, Lumber Futures. Read Investing.com (Barani Krishnan/Investing.com)'s latest article on Investing.comRead full newsRead More
Newfoundland-headquartered gold junior Aurion Resources' (TSX-V: AU) stock soared over 27% on Tuesday after reporting new high-grade assay results from drilling at the Aamurusko prospect on its Risti project in northern Finland.Two of the first three drillholes intersected high-grade gold mineralization near surface, with 42.28 g/t Au over 4.00 m intersected in one drillhole and 24.50 g/t Au o...Read More
Komatsu America Corp., a leading global heavy equipment manufacturer, today announced the FrontRunner Autonomous Haulage System (AHS) has qualified to operate on private long-term evolution (LTE) mobile broadband technology. This is the mining industry's first AHS enabled to run on private LTE in commercial operations, making way for ultra-high system availability and reliability, while adhering t...Read More
Nov 13, 2018-Komatsu Mining Corp. has been named one of America's Safest Companies by EHS Today, the magazine for environment, health and safety leaders. As one of 13 honorees nationwide, Komatsu was chosen for its dedication to the safety and health of its employees and customers."It's great to be recognized for all the hard work our employees put into working safely and driving towards zero harm...Read More
Executives, investors and government officials meet in Cape Town this week at the African Mining Indaba, the continent's biggest gathering of one of its most essential industries.The gold sector is a hot topic this year, after two giant deals reignited interest in bullion producers, prompting speculation over who might be next. Tailings dams are also in the spotlight, after Vale SA's disaster in B...Read More
Zambia has received bids from Canada's First Quantum Minerals (FQM) and others for a 17 percent stake in state mining investment arm ZCCM-IH, the finance minister said on Tuesday."There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions," said Margaret Mwanakatwe on the sidelines of a mining conference in Cape Town."The offers rela...Read More
Vale SA said it's temporarily halting some operations at its Brucutu mine, potentially causing a production loss of about 30 million metric tons of iron ore a year - a move that an analyst said could cause "incremental supply shock." Iron ore in Singapore climbed.The move is in compliance with a Brazilian court order issued to help improve safety after one of Vale's tailings dam in Minas Gerais st...Read More
* April-Dec net profit grows 6 pct y/y to record 442 bln yen* Books impairment losses on Olam, Chilean iron ore mines* Keeps full-year profit forecast of record 640 bln yenJapan's biggest trading house Mitsubishi Corp on Tuesday posted a 6 percent rise in its April-December net profit thanks to higher income from energy operations, and stuck to its record profit forecast for the year despite one-o...Read More
A report commissioned by Brazilian miner Vale SA last year to look into the stability of the tailings dam that ruptured Jan. 25 certified it as sound but raised concerns over its drainage and monitoring systems, newspaper Folha de S. Paulo reported on Tuesday.The report by German-based T?oeV S?oeD, which Folha said it had access to, made 17 recommendations aimed at improving the stability of the s...Read More
Record palladium prices and a weaker rand are lifting the gloom enveloping South Africa's platinum industry.For South African producers, the rally in palladium is partially offsetting the slump in platinum prices to near a decade low. Combined with a decline in the rand, which lowers costs for miners selling metal for dollars, that's extending a lifeline to companies such as Impala Platinum Holdin...Read More