Prospero Silver (TSXV: PSL; US-OTC: PSRVF) has begun phase two drilling at its Pachuca SE project in Hidalgo State, Mexico, shortly after Fortuna Silver Mines (TSX: FVI; NYSE: FSM) exercised its option to acquire up to 70% of the project in late 2018. Fortuna can earn its interest in Pachuca SE by spending US$8 million on the project, including at least US$1 million in the first year, and completi...Read More

Prospero Silver (TSXV: PSL; US-OTC: PSRVF) has begun phase two drilling at its Pachuca SE project in Hidalgo State, Mexico, shortly after Fortuna Silver Mines (TSX: FVI; NYSE: FSM) exercised its option to acquire up to 70% of the project in late 2018. Fortuna can earn its interest in Pachuca SE by spending US$8 million on the project, including at least US$1 million in the first year, and completi...Read More

NAIROBI - Fourteen miners were killed in an eastern Rwandan tin mine after a hill collapsed on them after heavy rains, officials said on Monday."Because of recent rainfall in the area, part of the hill nearby collapsed and 14 miners who were getting ready for work were buried by land," Fred Mufuruke, governor of Eastern province, said.The mining site is owned by the Rwandan business of Britain's P...Read More

STOCKHOLM - Swedish metal-cutting tools and mining gear maker Sandvik reported resilient fourth-quarter earnings on Monday as strong demand in North America outweighed a softening in Asia on the back of a weaker auto sector.Engineering stocks have been hit hard since last summer due to worries about global growth, with China a particular concern due to a deep slump in car sales and data pointing t...Read More

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MELBOURNE - The state of Western Australia said on Monday an audit had found global miner BHP Group underpaid royalties on iron ore shipments sold via its Singapore marketing hub stretching back over more than a decade.BHP quickly disputed the claim, saying long-standing deductions it makes to account for the cost of selling Western Australia iron ore had been consistently audited and accepted by...Read More

Gold price started a major downside correction from well above the $1,295 level against the US Dollar. The price declined and broke the $1,292 and $1,290 and $1,285 support levels on FXOpen. During the decline, there was a break below a major bullish trend line with support at $1,291 on the hourly chart. Finally, there was a close below the $1,285 support and the 50 hourly simple moving average....Read More

Australian copper miner MOD Resources said on Monday larger rival Sandfire Resources' A$0.38 a share offer undervalued the company, but said it was willing to engage with its suitor to come to a "compelling price".Earlier in the day, Sandfire confirmed media reports about its A$88 million ($62.97 million) bid for MOD, as per Reuters calculations, which represents a 73 percent premium to MOD's last...Read More

Australian copper miner MOD Resources said on Monday larger rival Sandfire Resources' A$0.38 a share offer undervalued the company, but said it was willing to engage with its suitor to come to a "compelling price".Earlier in the day, Sandfire confirmed media reports about its A$88 million ($62.97 million) bid for MOD, as per Reuters calculations, which represents a 73 percent premium to MOD's last...Read More

   •  The risk-on mood/positive US bond yields exert some fresh downward pressure.   •  A subdued USD price action fails to lend any support or ease the bearish pressure.   •  Absent relevant economic releases might continue to prompt some technical selling. Gold remained under some selling pressure for the third consecutive session and h...Read More

The gold mining sector is a highly fragmented industry but is now seeing some aggressive consolidation among the large cap names.In a public market that has massive market caps, the gold miners run the risk of becoming irrelevant.Barrick and Newmont/Goldcorp have lit a pathway and many others will follow, whether they want to or not.It might be worth owning some GG shares for the short term, but I...Read More

The 10-week moving average of bearish sentiment just revisited November 2012 territoryWhile the stock market has shown some serious strength in the process of snapping back from the Christmas Eve closing lows, the collective mood among investors and consumers has been somewhat less resilient. On Friday -- as the S&P 500 Index (SPX) was in the process of collecting a second consecutive close back a...Read More

In its quest to become a niche supplier of cobalt, Global Energy Metals (GEMC:TSX.V) announced it has signed an agreement with Nevada Sunrise Gold Corp to acquire an 85% interest in the Lovelock cobalt mine and the Treasure Box project, located in Churchill County, Nevada.In a media statement, the Vancouver-based junior said management was keen on buying these projects given that they are located...Read More

Following the reopening of its offices in New York last year and the announcement of growing sales in the US, Alrosa (MCX:ALRS) decided to recruit an experienced female executive to lead operations in American territory. Rebecca Foerster, former Vice President of Strategic Planning and Marketing at Leo Schachter Diamonds, was appointed President Alrosa USA Inc.Besides her previous position, which...Read More

Gold giant Barrick (TSX:ABX)(NYSE:GOLD) said Monday that while it continues to engage with the Zambian government and community stakeholders about a mutually-beneficial way forward for its Lumwana copper mine, it would consider selling the operation given the "challenging conditions" it's facing.Barrick said finding a win-win solution between the industry and government would increase investor con...Read More

Gold giant Barrick (TSX:ABX)(NYSE:GOLD) said Monday that while it continues to engage with the Zambian government and community stakeholders about a mutually-beneficial way forward for its Lumwana copper mine, it would consider selling the operation given the "challenging conditions" it's facing.Barrick said finding a win-win solution between the industry and government would increase investor con...Read More

Gold giant Barrick (TSX:ABX)(NYSE:GOLD) said Monday that while it continues to engage with the Zambian government and community stakeholders about a mutually-beneficial way forward for its Lumwana copper mine, it would consider selling the operation given the "challenging conditions" it's facing.Barrick said finding a win-win solution between the industry and government would increase investor con...Read More

Gold is currently trading largely unchanged on the day at $1,282. The yellow metal fell by $12 or 0.8 percent on Friday, confirming a downside break of the two-week long narrowing price range. An extended period of consolidation is often followed by a big move in the direction of the breakout. As a result, gold could soon drop to the support of the trendline connecting the Nov. 13 and Nov. 28 low...Read More

Canadian junior American Lithium Corp. (TSXV: LI) is expanding its footprint into the critical battery metals sector by agreeing to buy Alaska Nevada Mining's 100% interest in the Extinction Ridge vanadium project in Nevada, USA.The Vancouver-based miner, which is currently exploring and developing two lithium projects in Nevada, said Extinction Ridge was a "high-quality" exploration asset whose...Read More

World's largest miner BHP (ASX:BHP) is facing accusations by the state of Western Australia of having underpaid iron ore royalties on shipments sold via its Singapore marketing hub, stretching back over more than a decade.The alleged discrepancy was discovered during an audit, the WA Government said in a statement, adding it was as negotiating with BHP to resolve the matter in the best interests o...Read More