Mining Industry News
Posted March 10th 2014 at 9:49 pmVancouver-based Goldcorp on Monday extended the date on which its C$2.94-billion hostile takeover bid for Quebec gold miner Osisko Mining would close. Osisko had last week settled a lawsuit against gold major Goldcorp, which in January launched an unsolicited cash-and-stock takeover bid.
First Nation takes proactive approach with mining companies – by Jonathan Migneault (Northern Ontario Business – March 10, 2014)
Posted March 10th 2014 at 9:17 pmEstablished in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Wahnapitae First Nation has taken a proactive approach to promote environmental sustainability in its dealings with mining companies like Vale, Glencore and KGHM. Since the early 1990s, the First Nation, […]
Andrew ‘Twiggy’ Forrest takes billion-dollar hit as iron ore tumbles – by James Thomson (Sydney Morning Herald – March 10, 2014)
Posted March 10th 2014 at 9:15 pmhttp://www.smh.com.au/ Andrew ‘Twiggy’ Forrest knows better than most how movements in commodity prices can cause havoc with your bank balance. With iron ore prices falling to its lowest in close to a year, shares in Fortescue Metals Group tumbled 8.38 per cent to $4.98 in initial trade on Monday morning, wiping around $500 million off the […]
Expert Mining Panel Discusses Possibility Of Reaching ‘Peak Discovery’ – by Alex Létourneau (Kitco News – March 10, 2014)
Posted March 10th 2014 at 9:14 pmhttp://www.kitco.com/ (Kitco News) – During the 82nd Prospectors and Developers Association of Canada convention in Toronto last week, Exploration Insights founder Brent Cook rounded up some mining heavyweights to look into the possibility of having reached peak discovery in the mining industry. Kitco News’ informal panel included Catherine McLeod-Seltzer, chairman of Bear Creek, Alex Davidson, […]
Glencore Xstrata mining merger produces $2.4bn in synergies – by Jana Marais (Business Day Live – March 9, 2014)
Posted March 10th 2014 at 9:12 pmhttp://www.bdlive.co.za/ GLENCORE Xstrata has done an “excellent” job in finding synergies through the mining giants’ $29bn merger in May 2013, the combined group’s first set of annual results shows. Releasing the results this week, CEO Ivan Glasenberg said the group had increased the synergy benefits of the merger from the original estimate of $2bn a […]
Posted March 10th 2014 at 9:11 pmhttp://au.news.yahoo.com/thewest/ Nickel West workers are bracing for a year of uncertainty as mining giant BHP Billiton embarks on a formal campaign to sell the underperforming mining and processing wing. After slashing the book value of the operation by $US1.6 billion, BHP is believed to have appointed international investment bank Goldman Sachs to find a buyer. […]
Allana Potash opening Ethiopian mine in the hottest place on earth – by Stephanie Findlay (Canadian Business Magazine – March 6, 2014)
Posted March 10th 2014 at 9:09 pmhttp://www.canadianbusiness.com/ Keeping costs low is key amid potash price slump Lately, things haven’t been looking good for potash producers. Last summer, Uralkali, one of the biggest producers of the potassium fertilizer, killed its partnership with competitor Belaruskali in favour of boosting output, fuelling oversupply fears among investors and driving down prices. The situation has hardly […]
Posted March 10th 2014 at 8:37 pmAs we are used to hearing – there is good news and bad news. This time Toronto's Barrick Gold is on the receiving end of both, thanks to the environmental court in Chile. At issue is the future of the expensive Pascua-Lama gold project...
Posted March 10th 2014 at 8:35 pmSASKATCHEWAN – There seems to be no stopping Fission Uranium as it continues to drill its Patterson Lake South property on the southwest edge of the Athabasca Basin. The Kelowna, BC-based company keeps hitting off scale grades as winter...
Posted March 10th 2014 at 8:28 pmONTARIO – Kirkland Lake Gold, based in the town of the same name, recently drilled 189.94 g/t Au (5.54 opt) over 0.3 metres true width on the South Claims property. The core contained visible gold at about 205 metres below surface.
Posted March 10th 2014 at 8:24 pmKIRKLAND LAKE, Ontario – Nordex Explosives has begun three projects designed to expand the corporation's footprint in the explosives business. These three new projects focused on the custom design and building of specialty bulk trucks;...
Posted March 10th 2014 at 8:22 pmVANCOUVER — In a climate of volatile gold prices and rising costs, producers have become increasingly focused on streamlining and improving operations at established, brownfield assets, and Vancouver-based Goldcorp (TSX: G; NYSE: GG) is...
Posted March 10th 2014 at 7:39 pmTax, the rise in union activism and a variance in provincial attitudes towards mining are central issues for those investing in Argentina’s mining sector, Holt Abogados partner and Argentinian mining law specialist Florencia Heredia told delegates at the Norton Rose Fulbright roundtable on Latin America on last week. “[It’s] something we’ve seen in the past five years, the increased pressure of unions. And it’s not only the mining unions but also the truckers and construction unions that tend to get more involved,” Heredia said, highlighting Santa Cruz province as an example.
Posted March 10th 2014 at 7:28 pmHaving a strong management team, a high-quality project and the will to succeed are critical for any company wishing to secure private equity funding, chairperson of BlackRock Minerals Sean Cleary told delegates at the Prospectors and Developers Association of Canada on last week. “You have to start with a quality project and with quality people,” Cleary said. “I would recommend you start early and stick with high quality … Focus on hiring talented stars and not trainees.”
RPT-UPDATE 1-Panel says Guinea should strip BSGR, Vale of rights to iron deposit – by Silvia Antonioli, David Rohde and Saliou Samb (Reuters India – March 10, 2014)
Posted March 10th 2014 at 6:39 pmhttp://in.reuters.com/ LONDON/CONAKRY, March 7 (Reuters) – A technical committee in Guinea has recommended the government strip BSG Resources (BSGR) and its partner Vale of the rights to exploit a giant iron ore deposit because the panel alleges BSGR obtained the concession through corruption, sources close to the matter said. The latest development in a saga […]
MTO in midst of pan-Northern transportation strategy – by Ian Ross (Northern Ontario Business – March 10, 2014)
Posted March 10th 2014 at 6:37 pmEstablished in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Ian Ross is the editor of Northern Ontario Business email@example.com. A provincial plan to access the Ring of Fire may be lacking, but for almost three years the Ministry of […]
Amur Will Use Zeppelins to Ship Ore From Remote Siberia Mine – by Firat Kayakiran (Bloomberg News – March 10, 2014)
Posted March 10th 2014 at 6:35 pmhttp://www.bloomberg.com/ Amur Minerals Corp. (AMC), a copper and nickel explorer in Russia’s Far East, plans to fly equipment to its Siberian operation by zeppelin to bypass snow-clogged roads. Amur will use two airships from Worldwide Aeros Corp. to carry loads of as much as 250 metric tons, the company said today in a statement after […]
Posted March 10th 2014 at 6:33 pmThis article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province. The Ontario Mining Association’s info-graphic “Mining Builds a Better World,” which is available on the website www.oma.on.ca, illustrates how various minerals mined in Ontario contribute to a better world in technology, agriculture, […]
Posted March 10th 2014 at 6:28 pmMining and energy solutions firm Cronimet Mining were recently selected to proceed to the next round of approval for independent power producers (IPPs) to bring six 5 MW South African projects on line. Should Cronimet receive approval to bring 30 MW of production capacity on line, and combined with its 1 MW hybrid renewable energy solution already up and running at its chrome mine, in South Africa’s Limpopo province, it would represent a diversification of its business model the company’s Power Solutions MD Rollie Armstrong told Talking to Mining Weekly Online during the recent Prospectors and Developers Association of Canada’s international convention.
Posted March 10th 2014 at 5:52 pmThe world’s largest gold miner by output Barrick Gold in Monday announced that it would divest 13.5% of its interest in Tanzania-focused African Barrick Gold (ABG). Barrick said that it would place about 41-million ABG ordinary shares to institutional investors, representing about 10% of the issued ordinary share capital of ABG and about 13.5% of Barrick's holding in ABG.