SAO PAULO, Sept 5 (Reuters) - Commodities trader Glencore Plc expects its recently acquired Brazilian fuel distribution company Ale Combust?-veis SA to pursue growth opportunities without making acquisitions, Ale's chief executive officer said on Wednesday.Three days after taking the helm as Ale's CEO, Fulvius Tomelin said in an interview that the company will seek to expand its networks through a...Read More
Viceroy Research said it's shorting Pretium Resources Inc., arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months.The New York-based short seller - which rose to prominence last year with research into financial irregularities at South African retail giant Steinhoff International Holdings NV - released a re...Read More
JOHANNESBURG, Sept 6 (Reuters) - South African minerals and metals producer Assore reported a 1.9 percent fall in annual profit on Thursday as a strong rand currency offset favourable commodity prices and higher sales.Assore, which also produces manganese and chrome ore, said headline earnings per share (HEPS) for the year to June 30 fell to 4,953 cents from 5,049 cents.Headline EPS, which strips...Read More
LONDON, Sept 6 (Reuters) - Norsk Hydro is working to convince Brazilian authorities to allow it to resume full output at its Alunorte plant, the world's biggest alumina refinery, following two deals pledging social and environmental action, a top executive said.The deals, signed late on Wednesday in Brazil, were "an important step" but not a guarantee it would be allowed to resume full production...Read More
MOSCOW, Sept 6 (Reuters) - Russian aluminium producer Rusa , under U.S. sanctions since April, increased its aluminium exports by 7 percent in August compared to the previous month, Interfax news agency said.Rusal, the world's second-largest aluminium producer, saw its exports and supply chain crippled after Washington put the company and co-owner Oleg Deripaska on a blacklist, seeking to punish R...Read More
ROME, Sept 6 (Reuters) - Steel giant ArcelorMittal reached a deal on Thursday with trades' unions over its planned purchase of Ilva, opening the way for the contested takeover just days before the Italian steelmaker runs out of cash.ArcelorMittal signed a preliminary agreement last year to buy Ilva, which has the largest steel-producing capacity in Europe, but Italy's new government questioned the...Read More
Acacia Mining (LON:ACA), the Tanzanian gold producer dealing with an ongoing dispute with the country's administration, said Thursday its project partner in the Nyanzaga gold project, Australia's OreCorp (ASX:ORR), had secured government approval to increase its interest in the asset to 51%.The agreement, which will see OreCorp Tanzania invest $14 million to complete a pre-feasibility study and re...Read More
Acacia Mining (LON:ACA), the Tanzanian gold producer dealing with an ongoing dispute with the country's administration, said Thursday its project partner in the Nyanzaga gold project, Australia's OreCorp (ASX:ORR), had secured government approval to increase its interest in the asset to 51%.The agreement, which will see OreCorp Tanzania invest $14 million to complete a pre-feasibility study and re...Read More
Mr. Vincent MetcalfereportsOSISKO ACQUIRES ADDITIONAL GOLD ROYALTY ON BARKERVILLE'S CARIBOO GOLD PROJECT IN CANADAOsisko Gold Royalties Ltd. has entered into a second amended and restated royalty purchase agreement with Barkerville Gold Mines Ltd. pursuant to which it will acquire an additional 1.75-per-cent net smelter return (NSR) royalty for the aggregate purchase price of $20-million on the Ca...Read More
Mr. Darin Wagner reportsBALMORAL EXPANDS GARGOYLE NICKEL-COPPER-COBALT PROPERTY BY 1600%; ADDS TWO NEW PROPERTIES IN LUMBY LAKE BELT, ONTARIOBalmoral Resources Ltd. has staked an additional 697 claim units in the Lumby Lake greenstone belt in Ontario. The newly acquired claims increase Balmoral's holdings in the belt by more than 16 times, making it the dominant land holder. The staking includes t...Read More
"Zijin Mining has dived in and taken Nevsun out of Lundin's hands, getting the Timok #copper project and Bisha mine for C$1.86b ($) | https://t.co/mXTu7LLsjz #TSX $NSU"Read full newsRead More
Production cuts, halted projects and operations, as well as renewed interest from investors has helped drive uranium prices up by 30% in the past four months, but experts remain cautious about the long-term outlook for the commodity.Decade-low prices have had a negative effect on the profitability of existing mines and a devastating effect on the capacity of early-stage projects to raise the nec...Read More
As ongoing concerns continue regarding the long-term sustainability of our planet, thanks in part to the increase in carbon emissions, many nations around the world have been focussing on improving their environmental practices.The environmental performance index (EPI) is a method designed to assess the environmental credentials of nations around the world, using nine key categories: agriculture,...Read More
A unit of Chinese state-run conglomerate CITIC will become this month Canada's Ivanhoe Mines' (TSX:IVN) biggest shareholder following billionaire Robert Friedland's company's decision to sell a 20% stake for about $548 million (C$723m).The deal, announced in June, has received all necessary approvals from China's regulatory agencies, so it's expected to close on Sep. 19, the companies said in...Read More
A unit of Chinese state-run conglomerate CITIC will become this month Canada's Ivanhoe Mines' (TSX:IVN) biggest shareholder following billionaire Robert Friedland's company's decision to sell a 20% stake for about $548 million (C$723m).The deal, announced in June, has received all necessary approvals from China's regulatory agencies, so it's expected to close on Sep. 19, the companies said in...Read More
Vancouver, BC - good natured Products Inc. (TSX-V:GDNP) (the "Company" or "good naturedTM"), is pleased to announce the launch of its latest plant-based home organization products. First displayed at Vancouver Farmers Markets in early August, good natured (R) Compost Collectors are now also available throughout Western Canada at London Drugs.As a long-term good natured (R) customer and committed...Read More
Aztec Minerals (TSXV: AZT; US-OTC: AZZTF) has launched the first phase of surface work at its newly-optioned Tombstone silver-zinc district, 104 km southeast of Tuscon, Arizona. The company is chasing multiple types of mineralization, but primarily carbonate replacement deposits (CRDs) similar to South32's (ASX: S32) recently acquired Taylor zinc project, located 65 km southwest of Tombstone in s...Read More
The downtrend in gold continues. In August, the price of gold declined 2.2%, representing the fifth straight monthly decline - the longest streak in more than five years.Of course, that weakness has also taken down large gold miners. Goldcorp (TSX:G)(NYSE:GG) in particular has been especially bruised, with its shares off more than 25% over just the past three months. Meanwhile, the S&P/TSX Com...Read More
Continental Gold's Buritica gold project in Colombia. Source: Continental Gold Inc.Continental Gold Inc. [CNL-TSX; CGOF-OTCQX] said Thursday September 6 that a mining engineer was fatally wounded after being attacked by armed individuals in the Colombian town of Buritica, where the company's Buritica gold project is located. Another engineer is currently being treated and is in stable condition, t...Read More
Barkerville Gold Mines resource and development 2018 - 2019. Looking northeast - 6 km of 67 km mineralized trend. Source: Barkerville Gold Mines Ltd.Osisko Gold Royalties Ltd. [OR-TSX, NYSE] said Thursday Deptember 6 that it has acquired an additional net smelter royalty interest in Barkerville Gold Mines Ltd.'s [BGM-TSXV; BGMZF-OTC; IWUB-FSE] flagship Cariboo gold project in central British Colum...Read More