Ford has announced a massive 'restructuring' of its European operations, following in the footsteps of GM's much broader restructuring, that will entail thousands of job cuts and possibly factory closures.Read full newsRead More
"Deutsche Bank has a severe talent loss problem and this bonus cut will exacerbate the problem. Focusing on top performers is not new and not the solution."Read full newsRead More
Azeri state oil fund SOFAZ said on Thursday that it plans to increase the share of gold in its holdings to 10 percent this year from 5 percent at the end of 2018.SOFAZ, which has been buying gold since 2012, holds the former Soviet country's proceeds from oil contracts, oil and gas sales, transit fees and other revenue."During 2019, SOFAZ plans to purchase gold taking into account factors like the...Read More
Trading and mining giant Glencore (GLEN.L) has lost its exclusive marketing rights for two of Libya's main crude oil export grades after holding them since late 2015, trading sources with direct knowledge said.The Switzerland-based firm had secured the rights to the Sarir and Messla grades when it was one of the few foreign companies willing to deal with the North African country during unrest tha...Read More
Tanzanian President John Magufuli directed the minerals minister and central bank governor to buy some of the nation's gold for its reserves.The gold could be used to shore up the shilling when the currency Africa's fourth-biggest producer of the precious metal weakens, according to an emailed speech made on Wednesday."We should get to a point where we are reserving our gold, because gold is simil...Read More
Barrick Gold Corp.'s new chief executive is surprised by the "hysteria" over whether the world's largest gold miner will remain a Canadian company.Barely a week after his Channel Islands-based Randgold Resources Ltd. merged with Barrick, Mark Bristow says he's determined to keep the global miner headquartered in Toronto - or at least as committed as he is to any head office. "Mining industries hav...Read More
Juniors announce new gold zone in OntarioRead full newsRead More
Barrick Gold Corp.'s new boss intends to push ahead with plans to increase investment in the mineral-rich - but environmentally tricky - deposits straddling the Chile-Argentina border."If you want to find elephants, go to elephant country," Chief Executive Officer Mark Bristow, a South African geologist and big-game hunter, said in a phone interview. The Toronto-based company "absolutely" intends...Read More
Canada's Lucara Diamond (TSX:LUC) has kicked off the new year with yet another massive find at its flagship Karowe diamond mine in Botswana.The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012. That tally includes 12 diamonds larger than 300 carats in size, of which five were recovered...Read More
Canada's Lucara Diamond (TSX:LUC) has kicked off the new year with yet another massive find at its flagship Karowe diamond mine in Botswana.The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012. That tally includes 12 diamonds larger than 300 carats in size, of which five were recovered...Read More
MAX Resource (TSXV: MXR) announced this week that it was able to secure 100% of the 89 mineral applications it is aspiring to develop in western Colombia.The applications cover a total area of 1,757 square kilometres and are located within the Choc?? department, approximately 100 kilometres southwest of the city of Medell?-n. Of the 89 claims, 63 occupy 1,270 square kilometres, and are collectivel...Read More
Canadian gold producer Pretium Resources (TSX, NYSE: PVG) said output at its Brucejack underground mine in British Columbia fell just shy of fourth quarter and full-year production guidance.In the last three months of 2018, the Vancouver miner generated 96,342 ounces of gold, resulting in the mine producing nearly 189,000 ounces of the precious metal for the second half of the year, or 95% of Pre...Read More
Ascot Resources (CVE: AOT) announced this week that it has entered into a definitive arrangement to acquire all of the issued and outstanding common shares of IDM Mining.In a press release, the Vancouver-based miner said that the goal behind the proposed acquisition is to create a prominent BC gold exploration/development company. The pro forma company would own two advance-stage high-grade gold...Read More
Sibanye-Stillwater said on Thursday its bullion output in 2018 would be lower than forecast after almost half of the employees downed tools since mid-November in a wage strike that has killed four employees at its South African gold operations.The miner said it expected 2018 production to come in at 1.1 million ounces compared with a guidance of between 1.13 million ounces and 1.16 million ounces,...Read More
In his latest interview with Jim Goddard, Stewart Muir of ResourceWorks.com worries that the anti-Coastal GasLink pipeline protest in Northern B.C. that has included a blockade has little to do with indigenous rights and more to do with groups that do not want Canada to develop its hydrocarbon assets.It doesn't have the feel of an authentic grass roots thing where there really is an issue here. T...Read More
Acacia Mining (LON:ACA), the Tanzanian gold producer dealing with an ongoing dispute with the country's administration, received a fresh blow on Thursday from the country's government, which fined the miner 300 million Tanzanian shillings (about $129,144) over allegations of breaching environmental rules by its North Mara operation.The company noted it has not yet received any supporting reports...Read More
VANCOUVER, Jan. 7, 2019 /PRNewswire/ - IDM Mining Ltd. (IDM.V) (IDMMF)(Read full newsRead More
Silvercrest Metals (TSXV: SIL; NYSE: SILV) continues cutting high grade mineralization at its Las Chispas silver property in Sonora, Mexico.The latest results from a phase three infill drill program at the property included 9.3 metres grading 39.66 grams gold and 3,361 grams silver, or 6,336 grams silver equivalent, from 194 metres downhole and 2.4 metres at 4.3 grams gold and 1,571.5 grams silver...Read More
Silver has rallied in recent weeks following gold higher after a poor performance during the second half of 2018. While the white metal has firmed to see it down by only 8% over the last year, many silver miners have yet to rally. One that's has been heavily marked down by the market because of silver's 2018 price collapse and its own internal problems is Great Panther Silver Ltd. (TSX:GPR)(NYSEMK...Read More
Being a commodity producer is tough. Many savvy investors contend that over the long term, very few if any actually make an economic profit. Sure, there's money to be made, but time and time again, investors have been fleeced while management teams have lined their pockets.The story is almost always the same for miners. Regulatory uncertainties and massive investment costs constantly throw wrenche...Read More