Mining Industry News
Posted March 23rd 2017 at 7:23 pmMexico’s highest-grade silver miner Excellon Resources has reported a loss for the three months ended December, despite lifting silver-equivalent output 20%. The Toronto-headquartered company recorded a net loss of $55 000, or nil per share, compared with net loss of $1.7-million in the comparable period of 2015. The company’s adjusted net loss of $2.5-million reflects the period’s results before recording a $2.4-million fair value adjustment gain on embedded derivative and warrants related to the debentures.
Posted March 23rd 2017 at 6:30 pmThe event aims to grow awareness around existing and potential agricultural developments in the area.
Posted March 23rd 2017 at 4:46 pmCanadian base metals producer Nevsun Resources has found more mineralisation at its flagship Bisha and satellite deposits in Eritrea, on the Horn of Africa. 2016 drilling has increased the inferred resource at the Harena deposit by nearly 130% to 25-million tonnes grading 0.93% copper, 4.76% zinc, 0.8 g/t gold and 31 g/t silver. Harena, a satellite deposit to the Bisha mine, remains open with further drilling ongoing in 2017, the company advised.
Posted March 23rd 2017 at 4:46 pmThe strike at Escondida, the world's largest copper mine, will end after workers decided to invoke a legal provision that allows them to extend their old contract, the union said on Thursday. The workers said they would present their decision to the government on Friday and return to work on Saturday at Escondida, which is operated by BHP Billiton.
Silver Wheaton Corp wants a name change to reflect that gold makes up more than half its revenue – by Sunny Freeman (Financial Post – March 23, 2017)
Posted March 23rd 2017 at 3:14 pmhttp://business.financialpost.com/ TORONTO — Vancouver-based streaming company Silver Wheaton Corp. is proposing a name change to Wheaton Precious Metals Corp. as it seeks a brand that better reflects the increasingly large contribution gold is making to its bottom line. “A lot of investors judged our book by its cover and so we’ve decided to change the […]
Australia’s Rinehart children cleared to sue billionaire mother – by Sonali Paul(Reuters U.S. – March 22, 2017)
Posted March 23rd 2017 at 3:12 pmhttp://www.reuters.com/ The children of mining billionaire Gina Rinehart, Australia’s richest person, have been cleared by a court to sue their mother for what they describe as mismanagement of a multi-billion dollar family trust, in a long-running family feud. Rinehart’s daughter Bianca, who is now trustee of the family trust, said Hancock Prospecting Pty Ltd – […]
Posted March 23rd 2017 at 3:12 pmDelays expected in mining of new mineral reserve
COMMENT: New chapter for Canadian diamonds? – by Marilyn Scales (Canadian Mining Journal – March 22, 2017)
Posted March 23rd 2017 at 2:45 pmhttp://www.canadianminingjournal.com/ “It’s been 10 years since Falconbridge and Inco were snapped up by Glencore (then Xstrata) and Vale, respectfully. Canadians are still stinging from the loss of our world leadership position in nickel production. We still produce it, but the profits go elsewhere. Those profits include not only cash from the metal sold but the […]
Posted March 23rd 2017 at 2:43 pmUrges swifter action to improve Canada’s investment climate OTTAWA, March 22, 2017 /CNW/ – The Mining Association of Canada (MAC) welcomes Budget 2017’s planned investments in key areas such as infrastructure and innovation, but encourages the federal government to act quickly on these items to improve Canada’s investment climate. This is especially important given that […]
Does Norilsk Nickel deserve to be Russia’s environmental gold standard? – by Charles Digges (Bellona.org – March 22, 2017)
Posted March 23rd 2017 at 2:42 pmhttp://bellona.org/ Norilsk Nickel, the giant Northern Siberian nickel producer and historically one of the country’s biggest polluters, won a prestigious environmental nod from the Russian Union of Industrialists and Entrepreneurs for closing down one of its most infamously befouling facilities Norilsk Nickel, the giant Northern Siberian nickel producer and historically one of the country’s biggest […]
If the elites are wrong about their ‘man-made climate change’ fixation, they’ll pay dearly for it – by John Robson (National Post – March 22, 2017)
Posted March 23rd 2017 at 2:40 pmhttp://www.johnrobson.ca/ http://news.nationalpost.com/ “In addition to the multitude of scientists who work in fields so remote from climate as to have no professional opinion, there are countless geologists, physicists, chemists and others who dissent over how much (a) climate is changing (b) man is responsible and (c) it is dangerous.” It’s impossible to ignore Donald […]
Posted March 23rd 2017 at 2:34 pmGold Fields CEO Nick Holland believes it is time for current gold mining operations to “fundamentally transform” into “mines of the future" in order to prosper. Speaking at the University of the Witwatersrand’s (Wits’) School of Mining Engineering’s celebration of 120 years of service, on Thursday, he pointed out that, while gold mining remains relevant and valuable, its structure has evolved to the extent that, to remain sustainable moving forward, the gold mines of the future have to be set up, structured and managed differently than the current approach dictates.
Posted March 23rd 2017 at 1:58 pm
Posted March 23rd 2017 at 1:48 pmThe negotiation process between BHP Billiton and striking workers at its Escondida mine in Chile has ended unsuccessfully, Escondida mine president Marcelo Castillo said on Thursday, and the company will try to restart operations. The company will also evaluate an option of the Chilean labor code that would allow miners to work under the previous contract for 18 months, if miners present the option, Castillo said. He added that that option, known as Article 369, would create a complex scenario for both parties.
Posted March 23rd 2017 at 1:35 pmDual-listed Paladin Energy on Thursday launched arbitration proceedings against joint venture (JV) partner China National Nuclear Corporation’s (CNNC’s) Overseas Uranium Holdings subsidiary to seek orders and declarations regarding the sale of the Langer Heinrich mine (LHM), in Namibia’s Erongo region. As part of Paladin's restructure proposal, there is a potential option for CNNC which, if validly exercised, could entitle the nuclear-technology company to the right to acquire Paladin’s 75% share in LHM.
Posted March 23rd 2017 at 1:22 pmThe much-awaited mining of iron ore and coal at Liganga and Mchuchuma respectively is expected to start next month as the government is currently settling issues with investors regarding investment […]
Posted March 23rd 2017 at 12:33 pmAnglo American's diamond specialist De Beers has bought the 50% stake held by French luxury goods group LVMH in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. Analysts said the joint venture no longer fitted LVMH's strategy, while Anglo American, which has long dominated global rough diamond sales, has been developing its presence on the high-margin diamond retail market.
Posted March 23rd 2017 at 12:30 pmHighway 11 concerns still in Temiskaming mayor’s headlights
Posted March 23rd 2017 at 11:52 amThe government continued with their plan of closing down perceived tax loopholes.
Posted March 23rd 2017 at 12:41 amCanadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increase in gold-equivalent ounces (GEOs) delivered to 471 509 oz in 2016. Revenue rose to $610.2-million, derived from the sale of 464 383 GEOs.