(IDEX Online) - De Beers' plans for a diamond mine on Canada's Baffin Island has raised concerns about neighboring Inuit communities, as well as polar bear and caribou populations.The UK-based miner bought the Chidliak Project in September 2018 as part of its purchase of Peregrine Diamonds for C$107m.Wildlife groups are now warning that caribou populations are already in decline and the...Read More
RAPAPORT... Sotheby's will sell a group of eight fancy-blue diamonds from De Beers across its global Magnificent Jewels auctions, expecting the set to bring in more than $70 million.The stones are cut in various shapes and range from 1.22 to 11.29 carats, with a total weight of 32.09 carats, Sotheby's said last week. The polished originates from five rough blues that De Beers and Switzerland-based...Read More
(IDEX Online) - LVMH reports a 23 per cent growth in revenue (16 per cent organic) for it watches and jewelry businesses in the first nine months of 2022.The French luxury conglomerate said growth across all it sectors - including wines and spirits, fashion and leather goods, and perfumes and cosmetics - was 28 per cent for the same period, with a total revenue of $55.6bn.LVMH (Louis Vuitton Moet...Read More
(IDEX Online) - Fugitive diamond billionaire Nirav Modi is awaiting the outcome of his last-ditch appeal against extradition back to India. The High Court in London says it will hand down its verdict as soon as possible after a two-day hearing. Modi, 51, (pictured) is accused of fraudulently using letters of undertaking offered by the Punjab National Bank (PNB) in an alleged $1.85bn...Read More
Jefferies analysts reiterated their Buy view on Rio Tinto stock, despite the production results being weaker than expected.Read More
The stock market was up big today, but it was nothing compared to last Thursday's huge rally. In fact, last Thursday was one of the wildest days of trading in the history of Wall Street.But don't mistake that for the return of good times. It simply serves as a good example of just how volatile markets are these days - and the power of narratives to challenge fundamental analysis.In other words, th...Read More
Stillwater Critical Minerals (TSXV: PGE; US-OTC: PGEZF) is "rewriting the book" on the Lower Stillwater Igneous Complex in Montana, says president and CEO, Michael Rowley.The company's evaluation of the flagship Stillwater West project continues to confirm more parallels to South Africa's Bushveld Igneous Complex, and positions the company as the second-largest landholder in the Stillwater Complex...Read More
This week's episode features Douglas Silver, mineral economist, keynote speaker and author at the Q3 Global Mining Symposium. Douglas gives a data-rich presentation on how Canada is measuring up in the mining industry on an international level. He describes Canada as the "centre of the universe" in regard to international mining and explains why the country as well as its mining companies are posi...Read More
After achieving notorious maritime prosperity - initially by salvaging sunken ships - historic entrepreneur Joseph De Lamar became a prominent mine owner in the late 1880s, gaining control of a mountain six miles west of Silver City, Idaho. De Lamar sold a majority interest in the property for a pretty profit after rich veins of gold and silver were discovered, before moving on to other mining ve...Read More
Probe Metals (CVE: PRB) says drilling at its Val-d'Or East project's Monique deposit in Quebec has returned "significant" gold intercepts that are likely to expand the area of the strike and increase its resource update due by year's end. Highlights from the results of 45 new holes showed "continued strike and depth expansion with significant gold intercepts along the Monique gold zones," Probe, a...Read More
Mayfair Gold (TSXV: MFG; OTC: MFGCF) has increased the resource at its Fenn-Gib project located in the Timmins region of northeast Ontario. The new resource is based on assay results from 61% (about 67,000 metres) of the company's current 110,000-metre infill and expansion drill program.Fenn-Gib now hosts a pit-constrained indicated resource of 118.1 million tonnes at 0.81 gram gold per tonne for...Read More
Denison Mines (TSX: DML; NYSE: DNN) says it has received positive test results from its in-situ uranium recovery process at the Wheeler River project in northern Saskatchewan's Athabasca basin, which it called 'historic.'The successful test marks one of the first uses in the high-grade basin of the in-situ (ISR) leaching method that separates uranium from ore underground and pumps the solution to...Read More
Canada's Iamgold (TSX IMG; NYSE: IAG) said on Tuesday it had agreed to sell its stake in the Rosebel gold mine in Suriname to Zijin Mining in a deal valued at US$360 million.The Chinese miner will acquire Iamgold's 95% interest in Rosebel Gold Mines, which owns the Rosebel operation and a 70% participating interest in the Saramacca mine, a satellite for Rosebel.Zijin is also assuming Iamgold's eq...Read More
Sprung Structures was founded in 1887 and evolved into a major manufacturer of high-performance tension fabric buildings for multiple industries. The company developed and patented the stressed membrane structure, an innovative alternative to conventional construction utilizing architectural membrane panels placed under high tension within a non-corroding aluminum substructure.This technology is a...Read More
North-central Quebec-focused Troilus Gold (TSX: TLG; US-OTCQX: CHXMF) has announced the discovery of a new higher-grade gold zone to the northern and southern extents of Zone 87 (Z87), the larger of two formerly mined pits.To better define this potentially significant zone, the company decided to bypass the planned pre-feasibility study and shift its engineering focus to delivering a definitive fe...Read More
Barrick Gold (TSX: ABX; NYSE: GOLD) said on Monday it had achieved a significant legal milestone to proceed with the development of the giant Reko Diq copper-gold deposit in Pakistan, close to the borders of Iran and Afghanistan.During a four-day visit to the country, president and chief executive Mark Bristow held discussions with several stakeholders, which finished with all the documents neede...Read More
Welcome to our weekly feature, TNM Drill Down, focusing on the top gold assays of the past week. Assays are ranked by gold grade x width, as identified by our sister company Mining Intelligence.TNM Drill Down, Oct. 7-14, 2022.This week's top gold assay comes from Geopacific Resources' (ASX: GPR) Woodlark project in Papua New Guinea, where hole BUSDDH007 intersected 6 metres grading 300 grams gold...Read More
Element 29 Resources (TSXV: ECU) a Vancouver-based copper explorer with projects in Peru, has released its first resource estimates for the Elida project in the Andean nation, with an initial resource soon to follow from its Flor de Cobre project.Both properties were previously drilled and returned intercepts of potentially economic grades with low observed levels of deleterious elements like arse...Read More
Uranium Energy (NYSE: UEC) says it's building a "critical mass" of uranium projects in northern Saskatchewan's Athabasca basin, including the recent US$150-million purchase of Rio Tinto's (ASX: RIO) Roughrider project. The cash-and-shares deal last Wednesday came after UEC first entered Canada's premier uranium zone just three months ago with the $244-million purchase of UEX Corp. - besting Denis...Read More
Endeavour Mining (TSX, LSE: EDV) has kicked off construction at its 80%-owned Lafigu?(C) gold project in C??te d'Ivoire, which is expected to begin production in the third quarter of 2024.The $448 million project, located on the Fetekro property, adds to a long list of activities the London-based miner has undertaken this year. These include the Sabodala-Massawa expansion project in Senegal, and t...Read More