Mining at the Gruyere project, a joint venture between Gold Road (ASX: GOR) and Gold Fields (JSE, NYSE: GFI) in Western Australia, could begin as early as next month with first gold production expected to come in the second half of next year, the companies said Monday.Overall project engineering at the 270,000 ounce-a-year project, which is already more than A$100 million over its original budget...Read More
Oct 15 (Reuters) - Kazatomprom, the world's biggest uranium producer, said it will float up to a 25 percent stake in its planned initial public offering in London and Kazakhstan, as it looks to cash in on robust demand for the rare metal.Kazatomprom accounts for 20 percent of the world's uranium production and seven years on from Japan's Fukushima nuclear disaster, the beaten down uranium sector i...Read More
Oct 16 (Reuters) - Global miner Rio Tinto Ltd said its third-quarter iron ore shipments fell about 5 percent, hurt by planned maintenance and safety pauses across all operations following a fatality.Shipments from its Australian mines fell to 81.9 million tonnes in the third quarter compared with 85.8 million in the same period a year ago, the miner said, snapping four consecutive quarters of incr...Read More
The world's biggest miner BHP on Tuesday upped its share in SolGold Plc, bolstering its position against top shareholder Newcrest Mining as it eyes SolGold's promising Cascabel copper-gold project in Ecuador.Under the deal, SolGold will issue a 100 million shares to the company, raising its stake to 11.2 percent from 6.0 percent.BHP has agreed to pay 45 pence per SolGold share, which is offered at...Read More
As mining companies begin to adopt or mature their digitalisation strategies, major efficiency and performance gains will be made during the mineral exploration process. Micromine Product Strategy Manager Mark Gabbitus will discuss this topic as a guest speaker at the inaugural Australian Geoscience Council Convention (AGCC) in Adelaide from October 15th - 19th 2018.Titled 'Exploration on the Edge...Read More
While not as exciting as the transformation in the auto market with the shift to electric vehicles, demand growth from batteries used for renewable energy storage has the potential to have a bigger impact on mining.One of the prime technologies that could grab market share from lithium ion for large scale storage systems is so-called vanadium redox flow cells.The rally in vanadium prices is only a...Read More
Gold still has a place in many portfolios. During last week's market mayhem, the metal showed exactly why. While the rest of the market was melting down, gold jumped higher. Thanks to the built-in operational leverage enjoyed by most gold producers, these stocks saw their shares do even better than the price of gold. The old adage is true; spooked investors still take solace in precious metals.Don...Read More
I chimed in on the capriciousness of copper in the late spring (Mercenary Musing, May 28, 2018).Since then, copper prices hit a 3.5 year high at $3.29/lb in early June but then lagged over the summer months. Weakness continues unabated with Friday's close at $2.86 equating to a 13% loss from its ephemeral high in June:Strong demand from China includes an all-time record for concentrate imports in...Read More
For the most part, gold has held on to the recent gains which occurred on Thursday of last week and continued into trading yesterday. Currently, gold futures basis the most active December Comex contract is trading down $2.30 and is fixed at $1,228 per ounce. Gold traded to an intraday high today of $1235.90, which is just below yesterday's high. However, gold could not hold onto its modest gains...Read More
Anglo American (LON:AAL) plans to resume production at its massive Minas Rio iron ore mine in Brazil before year-end, but said a planned ramp-up to 26.5 million tonnes per year is likely to be pushed back to 2021 from 2020.The company halted production at the mine, its biggest development project, after two leaks in March affected a pipeline that carries the ore to port in Rio de Janeiro state for...Read More
Mr. Nav Dhaliwal reportsBONTERRA RESOURCES ANNOUNCES $20 MILLION PRIVATE PLACEMENT AND SHARE CONSOLIDATION Bonterra Resources Inc. has entered into an agreement with Sprott Capital Partners to act as lead agent, on its own behalf and, if applicable, on behalf of a syndicate of agents, in connection with a marketed private placement to raise gross proceeds of up to $20,000,130.Prior to closing of t...Read More
Oct 16, 2018 Guest(s): Ani Markova Vice-President & Portfolio Manager, AGF Investments Gold's greatest merit is still its reliability as an instrument for wealth preservation, said Ani Markova, Vice-President & Portfolio Manager, AGF Investments. "Gold is an asset class that investors should have in their portfolios to diversify them, especially at times when we see equity market volatility,...Read More
Brazil's mining giant Vale (NYSE:VALE), the world's No.1 iron ore and nickel producer, has ruled out any major acquisitions in the short-term and said it would only invest further in nickel if global prices for the metal improve.Speaking at the FT Commodities Global Summit in Rio de Janeiro on Tuesday, Vale chief executive Fabio Schvartsman said the company would only consider developing its gian...Read More
A group of scientists has discovered one of the rarest minerals on Earth buried deep within what may be the largest-known meteorite impact crater in Australia.The ultra-rare mineral known as reidite was found by Curtin University researchers in the long buried Woodleigh Crater near Shark Bay, Western Australia, about 750 km. north of Perth.Reidite only forms in rocks that experience the incredible...Read More
Oct 16, 2018 Guest(s): Matthew Mark Director of U.S. Distribution, World Gold Council The long-term drivers of gold account for 60% of the yellow metal's demand, this according to Matthew Mark, Director of U.S. Distribution at the World Gold Council. "When you look at all drivers of demand, between central banks buying gold as a store of value as a reserve currency, investors investing in coins...Read More
These Top 10 lowest cost gold mines are all below all-in-sustaining costs (AISC's) $550/oz level and will prove profitable - even if the price falls 50%.Mining Intelligence looked at costs at primary gold mines and found 10 operations that would still make money, even if gold halves in value from today's levels. AISC metrics has been taken as a basis of comparison and ranking.Since the World Gold...Read More
Company Website: http://www.coeur.comCHICAGO -- (Business Wire)Coeur Mining, Inc. ("Coeur" or the "Company") (NYSE: CDE) is pleased to announce that it has entered into a definitive agreement (the "Agreement") to acquire a property package adjacent to its Rochester operation consisting of the Lincoln Hill Project, Wilco Project, Gold Ridge Property and other nearby claims (collectively, the "Proje...Read More
Mr. Chris Taylor reportsGREAT BEAR DISCOVERS KEY ULTRAMAFIC GEOLOGY DURING SUMMER MAPPING PROGRAM AT DIXIE PROJECT, RED LAKE DISTRICTGreat Bear Resources Ltd. has provided results from summer geological mapping, including a new geological discovery at its flagship Dixie project in the Red Lake district of Ontario.These new findings have provided additional high-priority drill targets.A fully finan...Read More
(Kitco News) - Australian scientists are proposing to launch a satellite that would be able to look 300?km (186 miles) beneath the Earth’s surface, unlocking “Australia’s hidden mineral wealth,” according to the Australian Academy of Science's National Committee for Earth Sciences.This kind of “downward-looking telescope” would completely change the exploration...Read More
Mr. Nav Dhaliwal reportsBONTERRA RESOURCES ANNOUNCES $20 MILLION PRIVATE PLACEMENT AND SHARE CONSOLIDATION Bonterra Resources Inc. has entered into an agreement with Sprott Capital Partners to act as lead agent, on its own behalf and, if applicable, on behalf of a syndicate of agents, in connection with a marketed private placement to raise gross proceeds of up to $20,000,130.Prior to closing of t...Read More