The recent jump in platinum-group metals prices is boosting miners' profits, but that doesn't mean they are likely to increase supply anytime soon, according to the world's No. 1 producer.Prices for platinum, palladium and rhodium have all gained in recent months, boosting earnings for miners in top supplier South Africa. The so-called rand basket price for the industry has increased by 20 to 25 p...Read More
Chilean miner Antofagasta Plc will retain its dividend policy of paying out at least 35 percent of underlying net earnings but will pay out excess funds from the proceeds of sales to shareholders, its chief executive said. "If you look at the last three or four years, we have been distributing close to around 50 percent of net earnings. We are not going to change the policy; we think it has served...Read More
Freeport-McMoRan Inc plans no dividend hikes, acquisitions or debt buybacks over the next two years as it focuses on expanding Indonesia's Grasberg copper and gold mine underground, its chief executive told Reuters on Tuesday.The strategy underscores Freeport's desire to keep Grasberg, one of the world's largest mines, the crown jewel of its operations even amid the complex task of excavating the...Read More
The world's biggest platinum producer is preparing for tough wage negotiations as higher metal prices spur labor union demands.Talks over a new three-year industry deal are looming as the so-called rand basket price for platinum and its sister metals has surged by 20 percent to 25 percent this year. While a four-month wage dispute at Sibanye Gold Ltd.'s gold mines could spill over into the platinu...Read More
Purepoint Uranium Group says it has finished the initial fieldwork at the Hook Lake joint venture. The project lies on the southwest edge of the Athabasca Basin in the Patterson uranium district, between Fission's Triple R deposit and NexGen's Arrow deposit.Hook Lake is owned jointly by Cameco Corp. (39.5%), Orano Canada (39.5%) and Purepoint Uranium Group (operator and holder of a 21% interest).W...Read More
Rio Tinto said on Tuesday it will join a World Bank initiative intended to help developing countries sustainably mine lithium, cobalt and other minerals critical to the global electrification trend.Rio's participation in the program, known as Climate-Smart Mining and set to launch in May, comes as miners face increasing pressure from investors and non-governmental organizations to make supply chai...Read More
"Mining Journal Select returns on the 24th - 25th June 2019 in London! Exceptional #investment opportunities selected by Mining Journal #MJSLondon #MJS #Investment"Read full newsRead More
Brazil's spate of iron ore mine and tailings dam calamities are proving a game-changer for global iron ore pellet feed markets, according to the developer of a proposed new $1.5 billion magnetite iron ore pellet project near Broken Hill.Addressing the first day today of the two-day Paydirt 2019 South Australian Resources and Energy Investment Conference in Adelaide, Carpentaria Resources' Managing...Read More
PT Amman Mineral Nusa Tenggara, which owns the second-largest copper and gold mine in Indonesia, is weighing an initial public offering that could raise as much as $600 million, according to people familiar with the matter.The company is working with advisers to list in Jakarta as early as the fourth quarter, said the people, asking not to be named as the information is private. The firm also owns...Read More
India's Adani Enterprises has taken a step closer to the construction of a controversial thermal coal mine in Australia after winning federal government approval for its groundwater management plan.Adani wants to develop the Carmichael coal deposit in Queensland state, but has faced fierce environmental resistance that has turned the project into a political hot potato ahead of a federal election...Read More
Shares in Canada's Stornoway Diamond Corp. (TSX:SWY) fell on Tuesday after it announced that it would halt operations at its Renard 65 open pit mine, in the Canadian province of Quebec.The company transitioned Renard, Quebec's first diamond mine, primarily underground operations in August last year, but mining the pit had continued until now.Current ore stockpiles at Renard 65 are sufficient to...Read More
Ivanhoe Mines (TSX: IVN) issued a media statement this week saying that a few of the company's top executives met with F?(C)lix Tshisekedi, the recently-elected President of the Democratic Republic of Congo, and updated him on the progress being made in the development of the Kamoa-Kakula copper project and the Kipushi zinc project.Kamoa-Kakula, a joint venture between Ivanhoe, Zijin Mining Group...Read More
Niger's Ministry of Mines issued a letter supporting the negotiations between Canada's GoviEx Uranium (TSXV: GXU) and the country's federal government regarding the Madaouela uranium project.Although final documents on their commercial understandings are yet to be signed, the Vancouver-based miner and country authorities have agreed that the Government of Niger will acquire a 10% working interest...Read More
Greenstone Gold Mines, a 50/50 joint venture between Canadian miners Centerra Gold (TSX:CG) and Premier Gold (TSX:PG), has kicked off a core and reverse circulation drilling program at its Hardrock project in southern Ontario.The company, which received the province's final approval for the proposed gold mine last month, aims to develop an open pit operation that could be in production for almost...Read More
VANCOUVER, BC / ACCESSWIRE / April 8, 2019 / Ximen Mining Corp. (TSXV:XIM, ", Ximen", or the ", Company", )) announces that it has entered into an...Read full newsRead More
Anglo American's De Beers said Tuesday it saw rough diamond sales value jump about 10% in the third sales cycle of the year on the back of stable demand.The world's top diamond producer by value, which reports on 10 sales cycles each year, sold $575 million in its third sales cycle of this year, the highest since the fifth cycle of 2018, when it recorded $581 million.Chief executive Bruce Cleave...Read More
LONDON, April 8, 2019 /PRNewswire/ -- This is a story that began over 2,000 years ago when the Romans uncovered $16.8 billion in gold...Using only hammers...Read full newsRead More
TORONTO, April08, 2019(GLOBE NEWSWIRE) -- HARTE GOLD CORP. ("Harte Gold" or the "Company") (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to announ...Read full newsRead More
Earlier this year, Filo Mining (TSXV: FIL; US-OTC: FLMMF) unveiled a prefeasibility study (PFS) for its Filo del Sol copper-gold-silver project, 140 km southeast of Copiapo, Chile, on the border between Chile and Argentina.The study assigns the project a US$1.3-billion, after-tax net present value at an 8% discount rate and a 23% after-tax internal rate of return. It uses metal prices of US$3 per...Read More
The gold miners' stocks are still marching, grinding higher on balance in a solid upleg. While interest in this sector has faded since late February, it is nicely set up for a strong rally. After consolidating high and establishing a sturdy base, the gold miners are likely to soon report greatly-improved first-quarter results. Couple that with gold itself powering higher, and the slumbering...Read More