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Workers will return to Gold Fields' sole South African mine on Thursday after a six-week strike was called off by the country's National Union of Mineworkers (NUM), with production likely to resume in earnest after Christmas. Workers from the largest union operating at the South Deep mine downed tools in November after the bullion producer announced plans to cut 1,100 jobs at the mine - near a thi...Read More
Private equity firm Waterton Global Resource Management Inc on Thursday urged Hudbay Minerals Inc to replace its chief executive officer and said it would nominate several candidates to the miner's board.Waterton, which raised its stake in the company to nearly 10% from 7%, also said it had withdrawn its request for a special shareholders' meeting.Hudbay did not immediately respond to a request fo...Read More
Indonesian coal miner PT Bayan Resources Tbk has completed the acquisition of its Australian-listed unit Kangaroo Resources Limited in a transaction worth A$226.4 million ($163.7 million), it said in a filing to the Indonesia Stock Exchange (IDX) on Wednesday."The aim of this share purchase is so that the company can have full control over its subsidiaries owned indirectly by Kangaroo Resources,"...Read More
Kirkland Lake Gold (TSX: KL; NYSE; KL) has drilled high grade and visible gold mineralization on the down plunge extensions of the Swan zone at its Fosterville gold mine in Victoria, Australia.The company says results from 47 new drill holes totaling more than 17,000 metres of underground drilling outside the current measured and indicated Swan resource are confirming its geological model. It has...Read More
Minera Alamos (TSXV: MAI) just received $2 million in early funding in connection with a royalty agreement through the execution of a secured senior convertible-to-loan agreement with Osisko Gold Royalties (TSX: OR).In a media statement, the Toronto-based miner said the loan may be converted into a 1% NSR on the La Fortuna gold project pursuant to the Royalty Option Agreement entered into with Osi...Read More
Sibanye-Stillwater said on Thursday it had extended a wage agreement to cover all of its South African gold workforce, potentially putting an end to a strike that has seen almost half of its employees down tools since mid-November.The firm's shares rose 6 percent after the diversified miner said the strike, called by the Association of Mineworkers and Construction Union (AMCU), was no longer legal...Read More
Indonesian nickel mining group Silkroad Nickel (SGX: STP) has announced that its subsidiary, PT Teknik Alum Service, entered into a new long-term offtake agreement with PT TBR to supply 15 million tonnes of nickel ore over a period of five to eight years, beginning March 2020.The total contract value of the agreement is estimated to be in excess of $290 million.PT TBR is part of the Qingdao Hengsh...Read More
Exploration and development company Bacanora Lithium (LON:BCN) revealed Thursday it is preparing a 2019 stock exchange listing for the subsidiary that holds its 50%-owned Zinnwald lithium deposit in southern Saxony, Germany.The company, best-known for the Sonora lithium project in Mexico, said it had held discussions with its financial advisers about listing Deutsche Lithium and that it expecte...Read More
De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said.A spokesman for De Beers, an Anglo American unit, said in an email it was not mining in Zimbabwe and did not intend to. Vast Resources said it could not comment.Zimbabwe has been working t...Read More
Wesdome Gold Mines of Toronto has circulated an interim mineral resource for its 100% owned Kiena mine complex in Val d'Or. The estimate is based on drilling completed to Oct. 12, 2018. Since then, the Deep A zone has been the target of drilling, but its resources are not yet included in the current estimate.Kiena counts resources in the Kiena Deep, A, B, South, VC and S50 zones. The total measur...Read More
Let's take a trip back to 2011. Uranium is at one of its all-time highs in the last decade, and it seems like things will just continue this way for the foreseeable future.Then on Mar. 11, 2011, came a disaster. An earthquake and subsequent tsunami in Fukushima, Japan caused a nuclear power plant meltdown. Radiation released and caused a large-scale evacuation with two deaths reported.The tragedy...Read More
Wheaton Precious Metals' (TSE: WPM) shares surged over 14% Friday, following the company's announcement that it had a reached settlement with the Canada Revenue Agency (CRA). The settlement provides for a final resolution of Wheaton's tax appeal in connection with the reassessment under transfer pricing rules for 2005 to 2010.Wheaton Precious Metals is one of the largest precious metals streaming...Read More
Falcon Gold (TSXV: FG) reported that it completed its 2018 exploration program this week on the Esperanza Resources mineral concessions located in La Rioja province, western Argentina.According to Falcon Gold, the work program was focused on three of its seven concessions, namely ERSA VIII, IX, and X. The idea was to advance the company's knowledge of the historically identified gold, silver and c...Read More
Canada's Minister of Environment and Climate Change, Catherine McKenna, said this week that if mitigation measures are taken, Greenstone Gold Mines' Hardrock gold project is not likely to cause significant adverse environmental effects.The project consists of the construction, operation, decommissioning, and abandonment of an open pit gold mine and onsite metal mill located near Geraldton, in nort...Read More
Canada's Dominion Diamond Mines and Rio Tinto shocked the market on Friday by unveiling what is believed to be the largest diamond ever found in North America, measuring in about the size of a chicken-egg.The 552-carat yellow gem quality stone, unearthed in October, measures around 3cm by 5.5cm, almost three times the size of the next largest stone ever found in Canada, Dominion - which owns 40% o...Read More
China on Friday reported industrial output and retail sales growth for the month of November that missed expectations, according to data from the National Bureau of Statistics.The world's second-largest economy has begun to show signs of slowing down amid a bitter trade dispute with the U.S.Huileng Tan| @huileng_tanPublished 23 Hours AgoUpdated9 Hours AgoCNBC.com show chapters China to suspend...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects on South America's North Atlantic coast.The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Q...Read More