Sirius Minerals (LON:SXX), the British company building a huge fertilizer mine beneath a national park, has signed up Wall Street giant JPMorgan to provide financing in the form of bonds and credit up to about $3.8 billion.The bank is underwriting a $400 million share placement, launched on Tuesday, at a price between 15p to 18p per share. It is also using its balance sheet to provide a $2.5 bi...Read More
South African environmental groups have challenged the government's decision to grant permission for a water project which aims to supply developments for its future coal reserves.Authorizing a part of the Mokolo Crocodile (West) Water Augmentation Project, which would pump water to the coal-rich Waterberg region, is unlawful because the development "must be socially, environmentally and economica...Read More
First Quantum Minerals of Vancouver has offered an update on progress at the Cobre Panama copper mine as it made 25 tonnes of copper during the first quarter of this year. The project is on track to deliver between 140,000 and 175,000 tonnes in 2019. About 80% of total output will occur in the second half of the year, as the mill ramps up to its annual capacity of 72 million tonnes by the end of t...Read More
A bitter battle for control of Canada's Guyana Goldfields (TSX: GUY) between the miner and dissent shareholders led by founder and ousted chairman, Patrick Sheridan, has been finally settled this week, costing the company's head his job.As part of the agreement, the Toronto-based miner is appointing two new independent directors to the board - Alan Pangbourne and Allen Palmiere - with other two...Read More
The Mining Association of Canada (MAC) has awarded the Tamatumani Program at Glencore's Raglan Mine and IAMGOLD's Essakane Project with its prestigious TSM Excellence Awards in recognition of their innovative sustainability projects. The companies were presented their awards yesterday at the CIM Awards Gala in Montreal."MAC's TSM Excellence Awards represent the best of the best when it comes to sh...Read More
Haywood Securities has initiated coverage of Minera Alamos (TSXV: MAI) with a buy rating and 12-month target price of C$0.40 per share-a 281% return from the junior's current share price of C$0.11."Minera Alamos holds two development projects in its project portfolio that can be quickly ramped up to production, with the potential to produce ~ 100,000 ounces of gold over the next few years," mining...Read More
Unionized workers at Peruvian miner Minsur's San Rafael tin mine, a major tin producer, started an indefinite strike on Tuesday to demand a bonus, the company said.The union was not satisfied with the share of profits that the mine distributed to workers, Minsur said in a statement to Peru's market regulator. It added that labor authorities did not approve of the strike.(By Maria Cervantes and Mit...Read More
Sandvik AB has acquired privately owned Newtrax, a supplier of technology in wireless connectivity to monitor and provide insights on underground operations, including people, machines and the environment."By including Newtrax into the Sandvik family we further strengthen our leading position in areas related to automation and digitalization," said Henrik Ager, president of Sandvik Mining and Rock...Read More
About 1,800 workers were trapped at Sibanye-Stillwater's Rustenburg platinum mine in South Africa earlier today after an accident halted operation of a shaft used to transport workers.The company says 1,500 out of the 1,800 miners that were working the shift have now been brought to the surface, and the remaining miners are gradually being hoisted after an inspection confirmed it was safe.Concern...Read More
The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business.SocGen said this month it would cut 1,600 jobs to boost profits after poor performance last year and exit over-the-counter commodities trading.SocGen declined to comment on its resignation.In...Read More
Glencore Plc cut its full-year copper-output goal by about 3% and lowered production targets for other commodities from nickel to oil, as the world's biggest metal trader deals with multiple problems across its operations. The shares fell.There was no mention of changes to the company's marketing-profits guidance, which it often updates in production reports.Key insightsGlencore's disappointing ou...Read More
Tower Resources (TSXV: TWR) announced this week that its team of geologists started an exploration program on the Nechako property, located in the western Canadian province of British Columbia.In a press release, Tower said the campaign will begin with infill reverse circulation or RC drilling at the head of the Nechako dispersal train.In the current RC drilling program, six to eight infill holes...Read More
May 01, 2019 Guest(s): Johann Wiebe Lead Metals Analyst, Thomson Reuters GFMS Market fundamentals still bear hope for silver prices due to three factors: diminishing silver supply, rise in investment demand, and potential for increased industrial use, this according to Johann Wiebe, lead metals analyst at GFMS Refinitv. "It seems to be increasingly more difficult to find a new home for silver so...Read More
Ivanhoe Mines has appointed Tony Giardini as its new president, effective immediately. Giardini was most recently the executive vice president and CFO of Toronto-based Kinross Gold, a position which he held since December 2012.Tony Giardini, new president of Ivanhoe Mines. Image courtesy of Kinross Gold's Facebook page.Before joining Kinross, Giardini served as senior vice president and CFO at Ca...Read More
The next time you catch a flight out of the country, your face may end up in a government database.Airport security has beefed up in the last few years. So it's surprising that the use of facial recognition technology is only now becoming common in U.S. airports, but that's exactly what's happening.News has come out recently that U.S. Customs and Border Protection (CBP) is looking to expand the us...Read More
Two stories published by The Northern Miner in 2018 have been nominated for the 2019 National Magazine Awards: B2B.Northern Miner editor-in-chief John Cumming got the nod in the "Best Profile of a Company" category for his look at Toronto-based Black Iron (TSX: BKI) in the feature site-visit article, "Black Iron advances Shymanivske premium iron ore project in Ukraine."Northern Miner senior staff...Read More
The World Bank launched the Climate-Smart Mining Facility on Friday, the first-ever fund dedicated to making mining for minerals climate-smart and sustainable.The fund will support the sustainable extraction and processing of minerals and metals used in clean energy technologies, such as wind, solar power, and batteries for energy storage and electric vehicles.The World Bank is targeting a total...Read More
Bonterra Resources of Val d'Or, Quebec, is nearing the completion of the environmental impact assessment for increasing the throughput of its Urban-Barry mill located near Val d'Or. Capacity will be tripled to 2,400 t/d from 800 t/d.The company is creating a regional mill that will process ores from its satellite deposits, likely starting with the Barry and Moroy projects.Bonterra has two engineer...Read More
Ottawa-based Northern Shield Resources is hot on the trail of epithermal gold at the Shot Rock property near Antigonish. The company can earn up to an 80% interest in the property.Prospecting at Shot Rock has found a second epithermal system within the Highway zone. Geologists have collected surface samples with textures and mineralogy consistent with low sulphidation epithermal gold systems. They...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks end down Wednesday after the Federal Reserve left benchmark interest rates unchanged. Advanced Micro Devices (AMD - Get Report) ended lower after the chipmaker narrowly beat Wall Street's earnings forecasts. CVS Health (CVS - Get Report) posted stronger-than-expected earnings and increased the mid-point of...Read More