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* One source sees deal signing in first quarter of 2019* Brazil's CSN working to cut debt pile* Iron ore prices rise after Brazil mining dam failureGlobal trader Glencore is close to finalising a deal to make a $500 million payment to the mining arm of Brazil's Companhia Siderurgica Nacional (CSN) for iron ore cargoes to be delivered over five years, sources familiar with the matter said.One sourc...Read More
Shares in Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) jumped 12.6% in pre-market trading in New York on Thursday on the news that it will resume mining and heap leaching at its K????lada?? gold mine in Turkey.The Vancouver-based miner noted it would halt a previously announced $520 million-project to build a mill on site. The facility would have made K????lada?? a nine-year, 270,000-ounce-per-an...Read More
Canada's First Vanadium (TSX-V: FVAN) is extending its Nevada-based Carlin project, considered the largest, highest grade primary vanadium deposit in North America, by acquiring the southern extension of the asset.The strategic move, announced Thursday, gives the company mineral rights to an additional 200-metre strike length of Carlin.Strategic move gives the company mineral rights to an additi...Read More
Australia's Fortescue Metals Group Ltd said on Thursday it was too early to determine the full effect of a Brazilian mine disaster on iron ore supply, as its shares rose to a 16-month high."We are not 100 percent clear yet on the net impact on supply of iron ore, but certainly there will be some impact," Chief Executive Elizabeth Gaines said, adding that the miner had offered its condolences.We do...Read More
Japan's Idemitsu Kosan, Kyushu Electric Power and Tokyo Gas said on Thursday they have given up their plan to build a 2 gigawatt (GW) coal-fired power station in Chiba, near Tokyo, as it would not be economically feasible.The move follows a similar decision by Chugoku Electric Power and JFE Steel, a unit of JFE Holdings last month, and comes amid growing pressure in most of the world for companies...Read More
Botswana's first privately owned coal mine will produce its first saleable coal in March, the chief executive of the company overseeing the project told Reuters.The Masama Coal Mine aims to produce 1.2 million tonnes per annum of coal and will target the South African market as well as other countries in the region, Minergy Chief Executive Andre Boje said."We should ramp up to the nameplate volume...Read More
MICROMINE is excited to be exhibiting its intuitive mining solutions at the annual SME Conference and Expo in Denver, Colorado.The conference is one of the premier events for the mining and metallurgy industry and brings together over 6000 attendees from across the globe including mining leaders, policy makers, investors, technical experts and service providers.The event will take place at the Col...Read More
EY has announced the appointment of Paul D. Mitchell as the new EY global sector leader for mining and metals.In his new role, Mitchell will be responsible for driving the EY mining and metals sector strategy, leading a network of over 5,000 industry professionals worldwide. He will focus on strategic thinking and digital transformation for clients, in this age of sector disruption. Mitchell will...Read More
A Canadian government led by Andrew Scheer, the current leader of the Conservative Party of Canada, would repeal legislation currently before the Senate that hobbles resource development.Speaking at Roundup 2019, Scheer said if a Conservative government is elected on October 21, they will "develop a process that aims to get things done in this country."The four-day annual mineral exploration meet-...Read More
To expand the existing intelligent offering, Sandvik introduces its second i-series loader; Sandvik LH621i. The new Sandvik LH621i is the loader of choice for rapid mine development and large-scale underground production. The new high-capacity loader is a matching pair with the previously introduced Sandvik TH663i truck, considering the designed payload capacities.The Sandvik LH621i sets the indus...Read More
Ecuador-focused explorer SolGold (LON, TSX:SOLG) revealed Thursday plans to acquire Cornerstone Capital Resources (TSX-V:CGP), a Canadian firm which has a 15% interest in the miner's coveted Cascabel copper-gold project, located 180 km north of the capital Quito.The takeover would see Cornerstone's investors receive 0.55 SolGold shares for each their shares, which SolGold said was a 20% premium.I...Read More
Against a backdrop of continued stock market volatility and geopolitical risk, gold demand surged in Q4 of 2018, according to a new report released today from the World Gold Council.Annual gold demand increased 4% on highest central bank buying in 50 years. Gold demand in 2018 reached 4,345.1 tonnes, up from 4,159.9 tonnes in 2017. Central banks' demand for gold soared to the highest level si...Read More
The aftermath of last weeks catastrophic dam collapse in Brazil continues to be felt among the junior mining stocks as investors weigh the contrasting forces of lower iron ore production and a potential environmental and legislative backlash. With hundreds of people still missing and presumed dead, there is understandable anger in Brazil at Vale SA, the company whose Feijao iron ore mine...Read More
From mining, to liquefied natural gas: Bryan Cox, president and CEO of the Mining Association of British Columbia (MABC), has been tapped to lead the BC LNG Alliance.Starting mid-February, Cox will serve as president and CEO of an organization that advocates for the development of B.C.'s LNG industry. The alliance's board is chaired by Rob Maier, an executive with Chevron Canada; LNG Canada, Woodf...Read More
January's copper price rally came to a screeching halt on Friday after a key gauge showed Chinese factory output shrinking at the fastest pace in almost three years.Copper for delivery in March slumped 3% compared to Thursday's close to a low of $2.7535 per pound ($6,070 a tonne) on the Comex market in New York.Source: Thomson Reuters Datastream. Graphic adapted from original by Vincent Flasseur a...Read More
Way back in 1994, my brother asked for and got one of the lamest birthday presents I have ever seen.He was a freshman in high school, and he had two fancy new Microsoft share certificates (remember them?)I'm not entirely sure I even knew what stocks really were at the time.What I did know was that I missed out when he would open up the newspaper stock listings (remember them?) and proudly announce...Read More
Excelsior Mining Corp. of Vancouver is developing the Gunnison in situ copper project in Cochise County for production beginning in Q4 2019. Work is progressing on all fronts.The Gunnison project has always been easily accessible. Thanks to the new road south of highway I10, the production wellfield is as well. The property has direct access to road, rail, power and water.Excelsior has five rigs o...Read More
Publisher's Note: Today we're bringing you an answer to a question we're seeing a whole lot of these days.Mr. James Dines is a legend and he's been proving it more than ever with his market analysis over the last couple years. Here is the latest from him through an excerpt from The Dines Letter.If there is anyone to listen to right now, this is the man.To your wealth,Nick HodgePublisher, Outside...Read More