New Papua New Guinea Prime Minister James Marape doubled down on his plans to earn more taxes from the gas-and-gold-rich country's natural resources sector on Wednesday, but said major reform would not take effect for years.That will come as a relief for oil giants such as France's Total SA and ExxonMobil Corp which have done deals and were wondering if Marape would put them up for review.Marape,...Read More
The Vice President of Ecuador, Otto Sonnenholzner, and the Minister of Energy and Non-renewable Natural Resources, Carlos P?(C)rez, presented the country's new Public Mining Policy, with the focus on supporting large-scale operations and investments, and eradicating illegal mining.The announcement was made during a visit to the southern Zamora Chinchipe province, where Lundin Gold's (TSX:LUG) flag...Read More
Toronto-based Seabridge Gold has signed a definitive agreement to acquire 100% of the Goldstorm project from Mountain View Gold Corp. The sale price will be paid with 25,000 common shares of Seabridge.The Goldstorm project is located about 3 km east of Seabridge's 100% owned Snowstorm property. It lies at the intersection of the Northern Nevada Rift, Carlin Trend and Getchell Trend. Little explora...Read More
Purepoint Uranium Group of Toronto has offered an update on work planned for the Hook Lake uranium project. Purepoint (21%) sat down with its joint venture partners Cameco (39.5%) and Orano Canada (39.5%) to review data and develop the next steps to advance the project.There are three areas of particular interest. The North Dragon area lies 800 metres west of and parallel to the Dragon shear zone....Read More
Vancouver-based Pretium Resources reports that its 2019 deep underground drill program confirmed there is mineralization similar to the Brucejack mine at depth and to the east of the mine workings. The mine is located about 65 km north of Stewart, British Columbia.Two holes totaling 3,500 metres were drilled - one to the northeast and the other to the southwest - in an area that had not been drill...Read More
Donald Trump's trade wars are increasing scrutiny of an obscure process that has boosted how much U.S. beer makers and bottlers pay for aluminum cans.The chairman of Molson Coors Brewing Co. and a bottler for PepsiCo Inc. are urging the U.S. government to investigate the process used to set benchmark aluminum premiums, which have doubled from 2017 levels in the wake of U.S. import tariffs. And the...Read More
Contrarian investors are constantly searching for reliable stocks to add to their portfolios on the the hopes of picking up some big gains on a recovery in sentiment or improved business conditions.Let’s take a look at Barrick Gold (TSX:ABX)(NYSE:GOLD) and Bombardier (TSX:BBD.B) to see if one deserves to be on your buy list right now.BarrickAt the end of 2015, Barrick was on the verge of bei...Read More
Momentum is building for M&A across the gold industry driven by the market, balance sheets and shareholders, a report titled An Activist Gold Rush? by Kingsdale Advisors released Thursday finds.Mining behemoths Barrick (NYSE: GOLD, TSX: ABX) and Newmont (NYSE: NEM, TSX: NGT) have grabbed headlines with acquisitions of Randgold and Goldcorp respectively. Barrick and Newmont, in a JV that creat...Read More
Epiroc presents 6th Sense, a new approach that combines digitalization and automation to boost customers' performance.There is a growing need for the mining and infrastructure industries to look to digital technologies to enhance productivity, sustainability and safety. 6th Sense is the Epiroc way to optimize customers' processes by connecting machines, systems and people using automation, informa...Read More
Toronto-based Warrior Gold has completed its 15-hole winter drilling program at its Goodfish-Kirana gold project 5 km from the town of Kirkland Lake. The results confirm the geological model, include several significant assays, and confirm historical results.Drilling at the C zone intersected two 100 g/t gold intervals and encountered multiple areas of intense deformation and sericite-carbonate al...Read More
Fortune Minerals is updating the 2014 feasibility study for its NICO cobalt-gold-bismuth-copper project 160 km northwest of Yellowknife. Hatch, P&E Mining Consultants and Micon International have been engaged to produce the new study.Four scenarios are contemplated:Produce cobalt and bismuth concentrates at the mine site and ship these to a proposed refinery in southern Canada (the original scenar...Read More
Jun 06, 2019 Guest(s): Chris Berry The expansion of electric vehicles (EVs) market share in the automotive space will create major tailwinds for rare earth minerals, and there are plenty of ways investors can take part, said Chris Berry, president of House Mountain Partners. "If you're still of the belief that there's going to be ten of 15% EV penetration out of the next ten to 15 years, obviou...Read More
Criminal negligence charges have been laid against mining and construction giant Peter Kiewit Sons in British Columbia for a worksite death in 2009 in Tobla Inlet. The charges are unprecedented in Canada for a major multinational corporation, the CBC reported. Sam Fitzpatrick was 24 when he was crushed to death by a boulder on the Kiewit worksite. Peter Kiewit Sons Co. and two former...Read More
Gold prices extended gains Thursday, taking bullion prices to within touching distance of a 2019 high, as investors bet on central bank easing and weakening currencies as the global economy continues to feel the affects of a prolonged U.S.-China trade war. With markets pricing in a 50% chance of a September rate cut from the European Central Bank, a view that could be confirmed at its policy mee...Read More
The three-month lead price on the London Metal Exchange climbed by just under 2% at the close of trading on Thursday June 6, closing just below $1,900 per tonne amid news of Nyrstar's declaration of force majeure at its Port Pirie smelter in Australia. The force majeure affects lead contracts for deliveries from Port Pirie after the blast furnace failed at the end of May. Representatives at t...Read More
A potential global ban on internal combustion engines (ICEs) by 2030 could facilitate a growth in nickel's share of the electric vehicle battery market to 80%, Al Bedwell of automotive intelligence provider LMC Automotive said at the 7th International Nickel Conference on Thursday June 6. The potential for a ban of traditional ICE vehicles by 2030 is driven by crackdowns on carbon emissions in Eur...Read More
The first deal for third-quarter aluminium ingot supply to Japan has been concluded at a cif premium of $108 per tonne basis main Japanese ports (MJP), nearly 3% above the second-quarter benchmark, market sources told Fastmarkets on Thursday June 6. The deal between a Japanese aluminium trading firm and an overseas supplier was agreed very early in the negotiations process and slightly above marke...Read More
Purepoint Uranium Group of Toronto has offered an update on work planned for the Hook Lake uranium project. Purepoint (21%) sat down with its joint venture partners Cameco (39.5%) and Orano Canada (39.5%) to review data and develop the next steps to advance the project.There are three areas of particular interest. The North Dragon area lies 800 metres west of and parallel to the Dragon shear zone....Read More
Fastmarkets proposes changes to the publication day for two weekly Chinese ferro-silicon prices from Friday to Wednesday. The two price assessments include the ferro-silicon MB Chinese free market min 75% Si in warehouse China price and the ferro-silicon export min 75% Si fob China main ports $/tonne price.Fastmarkets is proposing this change to align the publication time of its China ferro-silico...Read More
Global zinc and lead producer Nyrstar has declared force majeure on contracts to supply lead from its Port Pirie smelter in Australia, a spokesman for the company said on Thursday June 6. The company called the force majeure after the blast furnace at the Port Pirie smelter failed at the end of May. It is "not possible to say at...Read More