Russian billionaire Roman Abramovich sold $551 million worth of shares in mining giant Norilsk Nickel on Tuesday during an accelerated bookbuilding deal (ABB), the deal's arranger VTB Capital said.The shares, accounting for a 1.7 percent stake in the world's largest palladium producer, were bought predominantly by British-based investors, with Russian investors also buying a third of the shares, D...Read More
Can mining be green?That's certainly the ambition of some of the biggest companies in the sector. Rio Tinto Group last year became the first major miner to stop digging up coal altogether. Glencore Plc, historically one of the commodity's most vocal boosters, has promised to cap production at current levels."We have a portfolio free of coal and oil and gas," Rio's Chief Executive Officer Jean-Seba...Read More
Eskom Holdings SOC Ltd.'s biggest union threatened a week-long shutdown at the South African power utility ahead of national elections in May in the latest sign of tensions between President Cyril Ramaphosa and organized labor.The National Union of Mineworkers opposes the government's plans to split Eskom into generation, transmission and distribution units, it said in a statement. The labor group...Read More
Roman Abramovich's sale of a stake in Russia's biggest mining company shows investor appetite for the country's assets is returning.Crispian Investments Ltd., a company controlled by Chelsea Football Club owner Abramovich and his partners, increased the size of the offering in MMC Norilsk Nickel PJSC to 1.7 percent from the originally envisaged 1.25 percent because of the strength of demand. The s...Read More
Six foreign-controlled miners operating in Indonesia, including PT Vale Indonesia and a unit of Australia's Newcrest Mining, intend to divest some of their shares "in the near future" to meet regulations, an Indonesian official said.According to Indonesian mining rules, foreign-controlled miners are required to gradually start reducing ownership after five years of production. Within 10 years, for...Read More
Northern Dynasty Minerals (TSX:NDM) has entered into a bought deal financing with Cantor Fitzgerald Canada to raise $10 million that will allow the miner to further advance its Pebble copper-gold-silver project in Alaska.The deal prices the company's shares at 64 Canadian cents, a 13.5% discount to the stock's price before the financing was announced.The Canadian miner has also granted the underwr...Read More
One of Australia's largest high-grade nickel producers, Western Areas (ASX: WSA), reported a significant increase in inbound off-take inquiries for nickel sulphide concentrate post current contract periods.According to the company's Managing Director, Dan Lougher, this new trend is primarily linked to the accelerating electric vehicle battery sector.Addressing the second day of the Paydirt 2019 Ba...Read More
White Metal Resources (TSXV: WHM) announced this week that it signed an agreement to acquire a 100% interest in the Seagull Lake palladium-platinum property from its partners Rainy Mountain Royalty and Canadian International Pharma Corp.Seagull Lake is located approximately 90 kilometres north-northeast of Thunder Bay, Ontario, Canada, and consists of 133 claim cells totalling approximately 2128 h...Read More
Shares in Africa-focused Gem Diamonds (LON:GEMD) took a hit on Wednesday as the miner disappointed investors by withholding its full-year dividend, citing uncertainty about the global diamond industry as one of the main reasons.The London-listed miner, which reported a sharp increase in annual profit thanks to record recoveries of large diamonds, said it had decided to strengthen its balance shee...Read More
"Why mining investors need to pay attention to electric vehicle sales, three Canadian stocks Barclays likes, and the decade of TSX bank dominance /via @globeandmail https://t.co/T7vHNNIbMR"Read full newsRead More
"Why mining investors need to pay attention to electric vehicle sales, three Canadian stocks Barclays likes, and the decade of TSX bank dominance /via @globeandmail https://t.co/T7vHNNIbMR"Read full newsRead More
Barrick Gold ended an $18 billion Newmont Mining hostile bid in favor of a Nevada joint venture. Barrick Gold stock rose; Newmont Mining stock fell.Read full newsRead More
There appears to be a consensus among insiders that stocks are likely to face significant resistance at current levels. On Monday, we suggested that insiders were signalling that 1,160 would be a tough nut the crack for the INK Canadian Insider Index. We see the same dynamic playing out in US markets.Stalling insider sentiment suggests stocks may have a hard time advancing Like our Canadian-foc...Read More
Pakistan's military is taking a key role in the development of one of the world's biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation said.The Reko Diq mine has become a test case for Prime Minister Imran Khan's ability to attract serious foreign investment to Pakistan...Read More
ELKO, Nev. (AP) - Barrick Gold is dropping its takeover bid for Newmont Mining, as the gold companies instead form a joint venture to combine their Nevada mining operations.Last month Barrick Gold Corp. offered to acquire Newmont Mining Corp. for about $18 billion in stock.The joint venture will include the companies' assets and reserves in Nevada. It doesn't include Barrick's Fourmile project and...Read More
The venture, which replaces a hostile takeover bid by Barrick, could produce synergies of $4.7 billion without the integration issues of a merger. It may have been what both companies were looking for all along.Read full newsRead More
Vancouver, BC - Graphite One Inc. (TSX-V:GPH | OTCQX:GPHOF) ("Graphite One" or the "Company"), is pleased to announce that further to the approval received at a Special Meeting of Shareholders held on February 22, 2019 (the "Meeting") and as described in more detail in the management information circular of the Company dated January 18, 2019 (the "Circular"), the Company's name has changed...Read More
With little fanfare, gold is staging a nice consolidation in the $1280-$1350 price zone.Please click here now. Double-click to enlarge. A breakout from this $70 trading range would usher in a fresh target of $1400 and perhaps $1420.Note the superb position of the 14,7,7 series Stochastics oscillator at the bottom of the chart.Its great positioning is just one of many reasons why $1280 could...Read More
With volatility and uncertainty rearing its ugly head recently, gold has started to stage a bit of a comeback. For the last few months, the precious metal has pushed above US$1,300 an ounce, making the investment a little more compelling than it once was. For centuries, gold has been a safe-haven asset and store of wealth that many investors still keep as an insurance policy of sorts. For this rea...Read More
The following three Canadian stocks are today's top choices for high-growth potential. These kinds of stocks are usually chosen for their high expected earnings, growth in revenue, or increased cash flow over the upcoming three-year period, as calculated by analysts. Let's sift through the stats and see whether or not they make good investments at this point in time.Questor Technology (TSX:QST)A s...Read More