Mining Industry News
Posted November 25th 2015 at 9:22 pm
AUSTRALIA – It can’t be easy to flip a large haul truck, but it did happen in September at Hanking Gold’s Cornishman open pit, and the operator was killed. He fell 3.75 metres to the hard packed, rocky ground. The…
Posted November 25th 2015 at 9:21 pm
SASKATCHEWAN – Once again drilling at Patterson Lake South on the southwest rim of the Athabasca Basin is returning excellent results for Fission Uranium Corp. of Kelowna, BC. Assays from the final 17 holes of the summer drill program have…
The post URANIUM: Fission success expands at Patterson Lake South appeared first on Canadian Mining Journal.
Posted November 25th 2015 at 9:20 pm
CHILE – Toronto’s New Gold has completed the sale of its 30% interest in the El Morro copper-gold project in Chile to Goldcorp of Vancouver. Having sole interest in El Morro has allowed Goldcorp and Teck Resources, also of Vancouver,…
The post COPPER-GOLD: Goldcorp buys out New Gold, creates JV with Teck appeared first on Canadian Mining Journal.
Posted November 25th 2015 at 9:18 pm
VANCOUVER — Lydian International (TSX: LYD; US-OTC: LYDIF) knows it has to adjust expectations at its wholly owned Amulsar gold project in south-central Armenia if it wants to secure development funding under current market conditions. To that end, the company has spent…
Posted November 25th 2015 at 2:54 pmExchanges, brokers and data vendors are interested in providing clearing or reporting services to make the gold market more liquid and transparent, the London Bullion Market Association (LBMA) said on Wednesday. Financial market transparency has been a major focus for regulators after evidence of price manipulation in lending rates between banks with the LIBOR scandal in 2012.
Posted November 25th 2015 at 1:37 pmA three-dimensional (3D) visualisation model of the large South Deep gold mine is poised to be the high point of a series of modernisation steps taken by the Gold Fields operation, which last week helped the share price of the Johannesburg- and New York-listed gold mining company to take its highest single leap in 16 years. The 3D model will be used to point the way forward for the already fully mechanised gold mine, where production improved 42% in the three months to September 30. (Also watch Creamer Media video attached).
PRECIOUS-Gold drops on dollar, but political risk tempers losses – by Clara Denina (Reuters U.S. – November 25, 2015)
Posted November 25th 2015 at 1:30 pmhttp://www.reuters.com/ LONDON, Nov 25 The price of gold edged down on Wednesday on a rebounding dollar and expectations of a U.S. rate hike next month, but the downside was capped by retail demand emerging on tension between Turkey and Russia. Turkey shot down the Russian jet near the Syrian border on Tuesday, saying the plane […]
Posted November 25th 2015 at 1:26 pmhttp://www.mineweb.com/ Artificially high rough diamond prices are going to collapse taking companies and banks with them. The diamond industry is undergoing fundamental structural change as the rough diamond distribution system self-destructs amid collapsing rough prices. Frankly, it’s good news. Unprofitable, unsustainable and unfair rough prices have been the bane of our industry. For too many […]
Tailings Dams and Due Diligence – Questions for the Board, shareholders and potential investors – by Steve Mackowski (InvestorIntel.com – November 24, 2015)
Posted November 25th 2015 at 1:11 pmhttp://investorintel.com/ A large tailings dam has burst. Its contents; millions of tonnes of sludge, a muddy deluge, have spewed forth and destroyed a local village with tragic loss of life. The tidal wave of man-made misery and despair continues seemingly unstoppable contaminating water ways, destroying the ecology so necessary to the local indigenous people, polluting […]
Dr. Copper’ plunges to US$2 for first time since 2009: ‘Things are quite horrible and about to get worse’ – by Peter Koven (National Post – November 25, 2015)
Posted November 25th 2015 at 1:00 pmThe National Post is Canada’s second largest national paper. Copper goes by the nickname “Dr. Copper,” because the red metal is viewed as a barometer for the global economy. And unfortunately, it hasn’t been saying anything cheery of late. Copper prices plunged back to US$2.00 a pound this week, the first time they have touched that level […]
Former Rio Tinto boss Tom Albanese says India iron ore industry ‘complicated’ – by Amanda Saunders (Sydney Morning Herald – November 24, 2015)
Posted November 25th 2015 at 12:58 pmhttp://www.smh.com.au/ Oversupply might have helped push the iron ore price down to near decade lows but Australian miners can breath easy on former Rio Tinto boss Tom Albanese’s call that former industry heavyweight India is unlikely to emerge as a major exporter any time soon. Iron ore fell to $US44.10 on Monday night, within 10¢ […]
David Suzuki compares oilsands defenders to slave traders: ‘It’s a moral issue’ – by Douglas Quan (National Post – November 25, 2015)
Posted November 25th 2015 at 12:57 pmThe National Post is Canada’s second largest national paper. David Suzuki says he wasn’t necessarily taking aim at all people working in the energy sector when he compared the oilsands industry to the American slave trade. In a radio interview on Monday, the environmental activist suggested that those who argue efforts to reduce greenhouse gases must consider […]
Posted November 25th 2015 at 12:51 pmThe National Post is Canada’s second largest national paper. On Tuesday, Premier Kathleen Wynne declared that Ontario’s plans to combat climate change were “optimistic and entirely realistic.” Optimistic for sure. Realistic certainly not. The Green Energy Act has been a bummer, and closing down the entire province wouldn’t register as a blip on global climate. Wynne confirmed […]
Falling commodity prices in a volatile corner: Why ‘quiet’ Mauritania is being watched closely (Mail and Guardian Africa – November 24, 2015)
Posted November 25th 2015 at 12:50 pmhttp://mgafrica.com/ MAURITANIA doesn’t often make the news. It’s mostly desert and sparsely populated – just 3.5 million people for a land area larger than Egypt or Nigeria. But Mauritania is of strategic importance in the “war on terror” in Africa, on account of its “ungoverned” spaces – as US securocrats see places like the vast […]
If China Killed Commodity Super Cycle, Fed to Bury It – by Kevin Crowley (Bloomberg News – November 25, 2015)
Posted November 25th 2015 at 11:25 amhttp://www.bloomberg.com/ For commodities, it’s like the 21st century never happened. The last time the Bloomberg Commodity Index of investor returns was this low, Apple Inc.’s best-selling product was a desktop computer, and you could pay for it with francs and deutsche marks. The gauge tracking the performance of 22 natural resources has plunged two-thirds from […]
Posted November 25th 2015 at 10:00 amLyndsay Borschke’s vintage-inspired hats are made in Canada. Now that she’s exporting to the U.S., should she manufacture there as well?
Posted November 25th 2015 at 9:35 amGold added to overnight gains on Wednesday on a softer dollar and heightened tensions after Turkey shot down a Russian warplane, but the rally was capped on expectations of a US rate hike next month. Turkey shot down the Russian jet near the Syrian border on Tuesday, saying the plane had violated its air space, in one of the most serious publicly acknowledged clashes between a NATO member country and Russia for half a century.
Posted November 25th 2015 at 8:37 amThe Papua New Guinea government is committed to work with the mining industry to advance key resources projects, including the Frieda River copper/gold project and the Wafi-Golpu gold project, Prime Minister Peter O’Neill said this week. ASX-listed Highlands Pacific and Guangdong Rising Asset Management are developing the Frieda River project, for which a feasibility study is expected before the end of 2015.
Posted November 25th 2015 at 8:30 amChromite explorer KWG Resources and Chinese State-owned China Railway First Survey & Design Institute Group (FSDI) are considering a possible transaction for FSDI to undertake a feasibility study on behalf of KWG on all aspects of the construction of Ontario’s Ring of Fire (RoF) transportation corridor and railroad. This would include the terms for construction financing facilities.
Posted November 25th 2015 at 7:56 amA scoping study into the Marg multi-metals project, in Canada's Yukon territory, has found that the project could support a production rate of 1.25-million tonnes a year from an underground operation, with a seven-and-a-half year mine life. The Marg project is forecast to produce 241 400 t of zinc, 81 400 t of copper, 97 300 t of lead, 8.69-million ounces of silver and 104 000 oz of gold over the seven-year period.