Mining Industry News
Posted January 29th 2015 at 11:33 pmTSX-listed explorer Pilot Gold has completed a new preliminary economic assessment (PEA) for the Halilaga copper/gold porphyry project, in north-western Turkey, sketching metrics for a robust, low strip, technically simple and scalable openpit project, using conventional milling and flotation methods. The Vancouver-based firm, credited with several significant discoveries including the Long Canyon, Northumberland and Sandman gold deposits, in Nevada; the Jacques Lake and Michelin uranium deposits in Labrador, Canada; and, the Kirazli and Agi Dagi gold deposits, in north-western Turkey, said the Halilaga project showed similar potential to its previous finds.
Posted January 29th 2015 at 11:03 pmBrazilian miner Vale's mega-ships have been able to dock at five ports in China, the firm's head of investor relations said on Thursday, as a ban that had been in place since 2012 is relaxed. "The issue ... of the obstruction, that's overcome," investor relations chief Rogerio Nogueira, said at a conference in Rio de Janeiro.
Posted January 29th 2015 at 10:59 pmTSX-listed Wesdome Gold Mines on Thursday reported that it had boosted the compliant reserve bases at its Eagle River and Mishi gold mines, located west of Wawa, Ontario. At Eagle River, Wesdome lifted the National Instrument 43-101-compliant proven and probable reserves by 57% to 265 000 oz, grading on average 10.1 g/t gold.
Posted January 29th 2015 at 10:42 pmWest Africa-focused project developer True Gold on Thursday said the continued fluidity of events in Burkina Faso had made an update on its flagship Karma gold project’s timeline difficult to pin down. While the TSX-V-listed firm noted that it had some flexibility in the timeline, as mine construction was ahead of schedule before activities were suspended early this month, if the work stoppage at Karma continued, there might be a material change to the project timeline.
Posted January 29th 2015 at 9:37 pmThe world’s most significant fertiliser producer PotashCorp of Saskatchewan has lifted its quarterly cash dividend by about 9% on the back of a confident sector outlook as its potash expansion programme was nearing completion. The Saskatoon, Saskatchewan-based miner on Wednesday declared a cash dividend of $ $0.38 a share, up $0.03 apiece, payable on May 4.
Posted January 29th 2015 at 4:32 pmSpot iron-ore prices hit a new 5-1/2 year low on Thursday as more signs emerged of slowing Chinese economic growth, although iron-ore and steel futures in China edged higher on interest from bargain hunters. A deepening iron-ore glut and worries over a sharper economic slowdown in top buyer China will drive the average 2015 price for the steelmaking ingredient to a record low of $68/t, a Reuters poll showed.
Posted January 29th 2015 at 2:36 pmDespite the lower gold price, global mine production continued to grow last year, increasing 2% to an all-time high of 3 109 t, the latest survey by GFMS showed. However, total physical demand fell 19% in 2014 as all areas, with the exception of official sector purchases, registered declines.
Posted January 29th 2015 at 2:00 pmLonmin’s overall platinum group metal output slumped by 31.1%. in the three months to December 31 due to smelter shut-downs. However, the company was able to record 9% higher sales to […]
Posted January 29th 2015 at 1:59 pmhttp://www.wimcanada.org/welcome.html TORONTO – January 29, 2015 – Women in Mining Canada (“WIMC”) and its “Trailblazer Award Selection Committee” (“TSC”), are very pleased to announce Betty-Ann Heggie as the winner of the 2015 Women in Mining Canada Trailblazer Award. The Women in Mining Canada Trailblazer Award is the first national award in Canada to recognize the […]
Posted January 29th 2015 at 11:38 amGlencore will start negotiations with unions regarding the closing of part of its Optimum colliery, which will halve production and affect 1,070 employees. The mine will still however supply Eskom’s Hendrina […]
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Posted January 29th 2015 at 8:19 amTransaction volumes in the mining and metals sector reached a 10-year low in 2014, with transactions driven by divestments and forced sales in the face of falling commodity prices and risk-averse capital markets. It was fourth consecutive year of declining merger and acquisition (M&A) activity in the sector, with deal volumes down 23% year-on-year from 703 in 2013, to 544 in 2014, the lowest volume of deals since 2003, professional services firm EY said this week.
Posted January 29th 2015 at 8:00 amKumba Iron Ore Limited has released its production and sales report for the quarter ended 31 December 2014. Total production increased by 10%, in comparison to the previous corresponding period […]
70th anniversary of Paymaster mining disaster – by Len Gillis (Timmins Daily Press – January 28, 2015)
Posted January 28th 2015 at 10:56 pmThe Daily Press is the city of Timmins broadsheet newspaper. TIMMINS – Who knew what Hector Poitras was thinking that cold February morning in 1945, when he stepped onto the cage at the Paymaster No. 5 shaft getting ready to ride down into the mine with his co-workers? It was a Friday. Maybe he was going […]
COLUMN-Crude oil decline cuts both ways for miners – by Clyde Russel (Reuters India – January 28, 2015)
Posted January 28th 2015 at 10:51 pmhttp://in.reuters.com/ LAUNCESTON, Australia, Jan 28 (Reuters) – The plunge in oil prices is a double-edged sword for many miners, lowering the cost of production but at the same time cutting the value of the commodities they produce. At first glance the 57 percent tumble in Brent crude since June last year would seem to be […]
Posted January 28th 2015 at 10:49 pmThe Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry. VANCOUVER — There’s likely not an explorer with a bigger technical team or budget than Rio Tinto’s (NYSE: RIO; LON: RIO) Stephen McIntosh, who serves as the mega miner’s global head of exploration and has […]
Posted January 28th 2015 at 10:45 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. Progress in the Ring of Fire – or the lack of it – was on the agenda of federal Natural Resources Minister Greg Rickford and provincial Northern Development and […]
Posted January 28th 2015 at 9:17 pmVANCOUVER – The Association for Mineral Exploration British Columbia (AME BC) has named Duane and Morgan Poliquin winners of the 2014 Colin Spence Award for global mineral exploration. Duane is chairman and Morgan is president and CEO of...
Posted January 28th 2015 at 9:16 pmKIRKLAND LAKE, Ontario – Kirkland Lake Gold has agreed to increase the size of its bought deal offering to $30 million, up from the $25 million originally proposed.