Mining Industry News
Posted February 12th 2016 at 4:29 pmArgentina's new president has revoked the 5% tax that the previous administration collected on mining exports, state news agency Telam reported on Friday, as part of the country's two-month old push toward open markets. "Today end the taxes on mining exports," president Mauricio Macri, inaugurated in December after winning office on a free-markets platform, said in a ceremony announcing the measure.
Gold is back in vogue with investors, but the question is, does this rally have legs? – by Peter Koven (Financial Post – February 12, 2016)
Posted February 12th 2016 at 3:43 pmhttp://business.financialpost.com/ Gold is back in vogue as investors seek out a safe haven amid growing global volatility. The question is whether this gold rally will have legs, or whether it will fizzle out like numerous others over the past few years. The yellow metal is in the midst of a tremendous upward move, jumping 18 per […]
Water management can help improve community relations – by Prinesha Naidoo (Mineweb.com – February 12, 2016) http://www.mineweb.com/
Posted February 12th 2016 at 3:41 pmhttp://www.mineweb.com/ JOHANNESBURG – Responsible, sustainable water management in the mining sector stands to enhance companies relationships with communities as well as their balance sheets, said Dirk-Jan Koch, special envoy for natural resources from the Netherlands. According to him, some $25bn of stalled investments exist in mining due to disputes with local communities. Given that 70% […]
Posted February 12th 2016 at 3:39 pmhttp://www.mining.com/ On Thursday, the price of gold surged nearly $70 an ounce as turmoil on world financial markets and global economic fears sparked a return to safe-haven buying. Futures contracts in New York with April delivery dates jumped 5.8% to a high of $1,263.90 an ounce in massive volumes of nearly three times usual volumes. […]
Harte Gold – Sweet Smell of the Sugar Zone – by Christopher Ecclestone (InvestorIntel.com – February 11, 2016)
Posted February 12th 2016 at 3:36 pmhttp://investorintel.com/ The trend towards small-scale mining (or as we are tending to call it “right-sized” mining) seems to be gaining traction. Bankers don’t like it because it means smaller financings and less fees and consultants absolutely hate it because it means less mindless-drilling, wheel-spinning and production of useless tomes of BFS and DFS drivel. The […]
Mick Davis’ X2 Said to Consider Bid for Anglo Mines in Brazil Cristiane Lucchesi, Juan Pablo Spinetto and Thomas Biesheuvel (Bloomberg News – February 10, 2016)
Posted February 12th 2016 at 3:33 pmhttp://www.bloomberg.com/ X2 Resources, the private-equity firm founded by former Xstrata Ltd. chief Mick Davis, is among companies considering a bid for Anglo American Plc’s Brazilian niobium and phosphate mines, said two people with knowledge of the matter. Anglo hired Goldman Sachs Group Inc. and Morgan Stanley to sell the assets as a package valued at […]
Posted February 12th 2016 at 10:00 amSome of the smallest businesses in Quebec are getting ready to pay more corporate tax next year, a change experts say could also be in store for similar-sized corporations across Canada.
Posted February 12th 2016 at 6:31 amGold's prospects for a sustained price rally are better than they have been for years as a weaker dollar, crashing oil prices and concerns about the global economy have revived its safe-haven status after years as the dog of global financial markets. The last time gold prices rose more than 10% in a 10-day stretch, the bullion market was in the last gasp of a decade-long rally that soon peaked at more than $1 920 per ounce in 2011.
Posted February 12th 2016 at 6:00 amSentiment remains negative about the mining and oil and gas industries as the supercycle nears a protracted potential bottom, resulting in dwindling market capitalisations for companies large and small and cruelly undervalued stock prices – creating a buyer’s market for the savvy investor. CEO and chief investment officer at US Global Investors Frank Holmes, who specialises in natural resources and emerging markets investing, notes that the mining industry is on sale at the moment.
Gold Rockets To 12-Month High On Safe-Haven Demand Amid Spooked World Marketplace – by Jim Wyckoff (Kitco Gold – February 11, 2016)
Posted February 11th 2016 at 11:55 pmhttp://www.kitco.com/news/ (Kitco News) – Strong safe-haven demand for gold sent the precious metal soaring to a 12-month high above $1,260.00 Thursday. Another big sell off in world stock markets sent investors and traders scrambling into the gold market. There are growing concerns about the collective health of the major world economies. Gold prices have risen […]
Despite sagging demand, officials see shiny future for copper – by Lauren Clark (Tucson Sentinel – February 11, 2016)
Posted February 11th 2016 at 11:49 pmhttp://www.tucsonsentinel.com/ Cronkite News – WASHINGTON – It’s a rainy Monday morning at Potomac Metals, a scrap yard just outside of Washington, D.C., as a customer climbs into the bed of his pickup truck and starts sorting odd scraps of metal into piles. As he sorts, a worker weighs the piles then hands over cash for […]
Rio Tinto ditches boom time payout policy as profit plunges – by Sonali Paul and James Regan (Reuters U.K. – February 11, 2016)
Posted February 11th 2016 at 11:42 pmhttp://uk.reuters.com/ MELBOURNE/SYDNEY – Rio Tinto (RIO.AX) (RIO.L) scrapped its generous payout policy in the face of a bleak outlook for the global economy after it slumped to a net loss for 2015 and posted its worst underlying earnings in 11 years. The dividend decision also gives the world No. 2 miner flexibility to pursue acquisitions […]
Posted February 11th 2016 at 11:40 pmhttp://www.franco-nevada.com/ TORONTO, February 10, 2016 – Franco-Nevada Corporation (“Franco-Nevada” or the “Company”) (TSX: FNV; NYSE: FNV) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, and Scotiabank, pursuant to which they have agreed to purchase, on a […]
Space Mining Is Going to Accelerate the Military Space Race – by John Knefel (Inverse.com – February 11, 2016)
Posted February 11th 2016 at 11:34 pmhttps://www.inverse.com/ The U.S. military has tried for decades to put weapons in space. Russia and China are watching, and revving up. Luxembourg made international news last week when the small European country announced its intentions to be a world leader in commercial asteroid mining. You know if Luxembourg is making big moves, the coming decades […]
Posted February 11th 2016 at 10:53 pmUS coal producer Peabody Energy has reported a net loss of $518-million, or $28.43 a share for the three months ended December 31, as slowing global economic growth drove a wide range of commodity prices lower in 2015, resulting in the largest broad commodity market decline since 1991. Seaborne coal prices continued to fall in 2015 as a reduction in Chinese imports more than offset supply cutbacks, and US coal demand was impacted by lower natural gas prices.
Posted February 11th 2016 at 9:27 pm
ONTARIO – Rockex Mining Corp. of Thunder Bay, ON, has signed a letter of intent with Diversified Innovative Marketing Enterprises (DIME) to advance the Lake St. Joseph iron ore project 100 km northeast of Sioux Lookout. Rockex will spend $30…
The post IRON ORE: Rockex signs LOI for Lake St. Joseph project appeared first on Canadian Mining Journal.
Posted February 11th 2016 at 9:23 pm
PERU – Swiss mining giant Glencore is chipping away at its debt, and its latest move is the sale of a gold and silver stream from the Antapaccay copper mine to Franco-Nevada Corp. of Toronto. Antapaccay is a brownfield expansion…
The post GOLD-SILVER: Franco-Nevada seals $800M financing for streaming deal with Glencore appeared first on Canadian Mining Journal.
Posted February 11th 2016 at 9:22 pm
QUEBEC – Metanor Resources of Val d’Or, QC, is planning to reopen the Barry open pit gold mine in the Urban-Barry greenstone belt. Ghislain Morin, president and CEO of Metanor said, “We feel that the metrics are optimal for a…
Posted February 11th 2016 at 9:21 pm
Vancouver’s Comstock Metals, owner of the QV advanced exploration project in Yukon, has named Ehsan Dana as president CEO and a director, effective Feb. 22, 2016. Previously he was the lead mining analyst at BC Investment Management Corp. He is…
The post MINING PEOPLE: Comstock Metals, Kombat Copper, Vale Canada, and Wesdome appeared first on Canadian Mining Journal.
Posted February 11th 2016 at 9:20 pm
SWEDEN – Atlas Copco is launching SmartROC D60, a surface drill rig for most types of surface drilling applications and tough conditions. The new drill is a highly versatile down-the-hole (DTH) rig designed for 110 to180 mm holes in a…
The post DRILL: Copco’s new SmartROC D60 both tough and intelligent appeared first on Canadian Mining Journal.