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Garofalo may exit with $6.9m in biggest gold M&A

By: Bloomberg     15th January 2019 Investors and analysts are still debating whether the biggest gold mining deal ever is good for acquirer Newmont Mining, but the CEO of the target company could end up millions of dollars richer. David Garofalo is eligible to collect at least $6.9-million, including as much as $4.6-million in... 

Newmont deal for Goldcorp erodes Canada's gold clout further

By: Bloomberg     15th January 2019 Canada’s influence on the global mining industry appears to be shrinking by the day. Perhaps stung by the nationalistic backlash against Barrick Gold Corp's merger with Randgold Resources, Newmont Mining devoted a big chunk of its news release Monday explaining how its $10-billion offer for... 

Newmont's Goldcorp gamble may need 'drastic surgery' to work

By: Bloomberg     15th January 2019 The cost to create the world’s largest gold company: A 17% premium for a $10-billion all-shares acquisition that faces some big-time challenges down the line. Newmont Mining’s deal for Goldcorp stands in stark contrast to the recent zero-premium merger between Barrick Gold and Randgold... 

Goldcorp achieves 2018 production guidance

By: Tasneem Bulbulia     14th January 2019 Vancouver-headquartered Goldcorp, which on Monday announced a $10-billion merger with gold major Newmont, produced 630 000 oz of gold in the fourth quarter of 2018, a 25% increase from the third quarter of 2018, and exceeding its previously stated guidance. Production for the year ended 2018 was... 

If you can't pipe it, refine it: Alberta seeks oil glut solution

By: Bloomberg     7th January 2019 What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and... 

CanAlaska and Cameco team up on West McArthur uranium project

By: Creamer Media Reporter      12th December 2018 Vancouver-based junior CanAlaska and uranium major Cameco have formed a joint venture (JV) on the West McArthur project, 6 km north-west of the McArthur River uranium mine. CanAlaska is the operator and 70% owner of the West McArthur JV, which is located in the Athabasca basin region, dubbed the... 

Petrobras to sell stake in Africa unit to Vitol-led group for $1.5bn

By: Reuters     1st November 2018 Brazil's Petroleo Brasileiro SA will sell its 50% stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53-billion, the latest step in the state-controlled oil company's debt reduction drive, according to a securities filing on Wednesday. The other... 

Shipping delay hits Copper Mountain Q3 results

By: Creamer Media Reporter      1st November 2018 The share price of Vancouver-based miner Copper Mountain fell to a 52-week low on Wednesday, after the company posted a third-quarter adjusted loss of C$8.31-million, after a shipping delay and lower prices hit revenue. The company explained that its revenue fell from C$77.15-million in the... 

Eldorado approves $520m mill project in Turkey

By: Creamer Media Reporter      26th October 2018 The board of Vancouver-based miner Eldorado Gold has approved a $520-million investment in a mill project at the Kisladag mine, in Turkey, paving the way for 270 000 oz/y of production over a nine-year mine life. The 13-million-tonne-a-year mill project, which will see Kisladag transition away... 

Leagold says Santa Luz restart requires $82m

By: Creamer Media Reporter      26th October 2018 Vancouver-based Leagold has completed an updated feasibility study for the Santa Luz project that it acquired in the recent Brio takeover, which demonstrates the potential for restarting 100 000 oz/y mine at a cost of $82-million. However, the company’s first priority remains to optimise its... 

Goldcorp output falls 20% in Peñasquito transition period

By: Mariaan Webb     25th October 2018 Canadian gold major Goldcorp has reported a third-quarter net loss of $101-million, compared with $111-million a year earlier, and a 20% drop in production during a transition period at its flagship Peñasquito mine, in Mexico. The Vancouver-based miner produced 503 000 oz at an all-in sustaining... 

SA HIPPO submersible slurry pump enters the USA steel manufacturing market.

By: Creamer Media Reporter      23rd October 2018 After participating in the CIM 2018 held in Vancouver, Canada, HAZLETON PUMPS was requested to visit one of the largest steel manufacturers in Ohio, USA; being Timken Steel. Timken Steel applies their metallurgical and production expertise to manufacture high-performance seamless mechanical tube... 

B2Gold studying expansion at El Limon

By: Mariaan Webb     23rd October 2018 Vancouver-headquartered B2Gold is mulling an expansion at the El Limon mine, announcing on Monday that it is considering a $35-million investment to increase production at the Nicaragua-based mine. B2Gold has concluded an expansion study, which indicates that increasing plant capacity from 485... 

China swoops in on Canadian oil that's $50 below US crude

By: Bloomberg     11th October 2018 Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60% cheaper than US benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy, sludgy crude. That’s because – apart from being a source of fuel – it’s... 

Drought forces two-month closure of Leagold Brazil mine

By: Mariaan Webb     11th October 2018 Latin America-focused Leagold on Wednesday announced a two-month shutdown of its RDM mine, in Brazil, citing continued regional drought conditions. In 2017, the RDM mine was closed on August 11 and restarted, on an intermittent basis, in early November with the onset of the region's rainy season. 

Strongbow appoints Osisko’s Njegovan to its board

By: Creamer Media Reporter      8th October 2018 Vancouver-based Strongbow Exploration has appointed Osisko Mining VP for new business development, Don Njegovan, to its board of directors to replace John Burzynski, who stepped down on Friday. Burzynski will join the company’s technical advisory committee. 

BC market regulator settles with Nickel One president

By: Creamer Media Reporter      5th October 2018 The British Columbia Securities Commission (BCSC) has reached a settlement agreement with the president of a junior mineral exploration company that filed a deficient technical report. Carl Vance Loeber is the president and a director of Nickel One Resources, a junior mineral exploration company... 

Shell LNG, trade deal no help to stalled Trans Mountain pipeline

By: Bloomberg     4th October 2018 Royal Dutch Shell’s commitment to invest in the largest private-sector project in Canada’s history and a new trade deal with the US and Mexico show the country is open for business again. But neither are likely to help Trans Mountain, the troubled oil pipeline project that has epitomized the... 

Trudeau backs LNG Canada against threat of steel duties

By: Bloomberg     3rd October 2018 Prime Minister Justin Trudeau assured Royal Dutch Shell’s newly sanctioned $31-billion liquefied natural gas project that it won’t be hindered by trade barriers such as steel import duties. “Trade barriers won’t be an impediment to moving forward on this project," Trudeau told a news conference... 

First Quantum falls as Panama court casts uncertainty on project

By: Bloomberg     26th September 2018 Canadian miner First Quantum Minerals headed for a one-week low after a ruling by Panama’s Supreme Court cast uncertainty over a major copper mine it’s developing in the central American country. Local media in Panama reported that the court ruled on Monday that Law 9 – used to approve a mining... 

Luminex says Anglo American to earn into Ecuador project

By: Creamer Media Reporter      25th September 2018 Diversified miner Anglo American has signed a formal earn-in and joint venture agreement with Vancouver-based Luminex Resources, relating to Pegasus A, Pegasus B and Luz concessions in Ecuador. The agreement gives Anglo the right to earn a 60% ownership interest in a JV company indirectly... 

Alaska’s Peak Gold PEA published

By: Creamer Media Reporter      25th September 2018 The joint venture partner in Peak Gold have published the preliminary economic assessment (PEA) for the gold project, near Tok, Alaska, detailing the “attractive” economics of the openpit operation at a gold price of $1 250/oz. Using the base case gold price and a silver price of $17/oz, the PEA... 

Argentina Lithium walks away from Arizaro project

By: Mariaan Webb     21st September 2018 Vancouver-based Argentina Lithium will not be proceeding with the option agreement on the Arizaro lithium project in the Arizaro Salar in Salta province, the company announced on Friday, as it outlines a future strategy. The TSX-V-listed firm has determined that the high risk and potential... 

IDM's Red Mountain entering final enviro assessment stage

By: Mariaan Webb     21st September 2018 The Canadian Environmental Assessment Agency (CEA) has initiated the final stage of the Red Mountain gold project environmental assessment process, inviting public comment on the draft report and potential conditions that will be applied. The draft comment period runs until October 18, and a... 

Imperial exploring ‘strategic alternatives’ as it restructures

By: Mariaan Webb     18th September 2018 Troubled Vancouver-based Imperial Metals Corporation has embarked on a restructuring process, which will entail exploring “all strategic alternatives” for the company, the owner of the Red Chris, Mount Polley and Huckleberry copper and gold mines in British Columbia announced on Monday.... 

Barrick seeks Chinese partners for Tanzania mines – Globe

By: Bloomberg     17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

Cleveland-sized mine signals the path for an oil-sands revival

By: Bloomberg     12th September 2018 A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments. In a forest clearing roughly the size of Cleveland, building-sized trucks dump tons of oily soil into a massive crushing facility, while conveyors move the dirt on... 

Viceroy says it's shorting Canadian miner Pretium Resources

By: Bloomberg     6th September 2018 Viceroy Research said it’s shorting Pretium Resources, arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months. The New York-based short seller – which rose to prominence last year with research into financial... 

Trudeau’s grand bargain unravels after Alberta nixes carbon plan

By: Bloomberg     31st August 2018 Canada’s precarious relationship with its vast oil riches flared up again Thursday after a federal court struck down Prime Minister Justin Trudeau’s approval of a key pipeline, reviving fears about the country’s ability to get its resources to market. While the government pledged to press ahead... 

IDM’s Red Mountain referred to provincial Ministers for decision

By: Creamer Media Reporter      30th August 2018 Vancouver-based IDM Mining is one step closer to building British Columbia’s next underground gold mine, with the Environmental Assessment Office having referred the Red Mountain project’s environmental certificate application to provincial Ministers for a decision. The Minister of Environment... 

Teck idles lead smelting due to BC wildfires

By: Reuters     24th August 2018 Canadian diversified miner Teck Resources said on Thursday that lead smelting at its Trail, British Columbia facility was suspended for a fourth day due to wildfires in the province. Teck temporarily shut down lead smelting on Sunday because the flash smelting technology requires high-purity... 

Gold seen fighting back in battle with dollar for haven role

By: Bloomberg     17th August 2018 Don’t write off gold in the battle of the havens. Bullion has lost out in a paradigm shift where the metal’s no longer viewed as the traditional refuge when investors are in a risk-off mood, but that won’t last, according to Rick Rule, CEO of Sprott US Holdings. 

Eastplats’ chrome circuit completion targeted for Q3

By: Marleny Arnoldi     15th August 2018 Construction of Vancouver-based Eastern Platinum’s (Eastplats’) retreatment project, at its Crocodile River mine, in South Africa’s North West, is progressing well and all significant items required for the chrome circuit’s completion and commissioning are on site. Completion of the form... 

Nevsun CEO says several companies expressed interest in miner

By: Bloomberg     10th August 2018 Nevsun Resources says companies in China, Japan and Western countries are among potential white knights that have expressed interest in buying the miner as it seeks to ward off a hostile takeover by Lundin Mining. “Several companies have indicated an interest,” Nevsun CEO Peter Kukielski said... 

Equinox’s Brazil mine on track to pour gold before year-end

By: Marleny Arnoldi     3rd August 2018 Vancouver-based Equinox’s Aurizona gold mine, in Brazil, is on track to achieve year-end 2018 gold pour, with the overall project being 60% complete and plant construction being 51% complete at the end of June. Installation of semi-autogenous grinding and ball mills is under way and ore... 

New CEO for Turquoise Hill

By: Creamer Media Reporter      30th July 2018 Vancouver-based Turquoise Hill, which focuses on the operation and development of the Oyu Tolgoi copper/gold mine in Mongolia, has appointed Ulf Quellmann as CEO with effect from August 1, following a comprehensive search process. The NYSE- and TSX-listed company said on Monday that the search,... 

Ecobalt investors call for sale, new management on delays

By: Reuters     30th July 2018 Two large shareholders in Canada's Ecobalt Solutions are calling for a change in senior management or the launch of a sales process, saying ongoing mine development delays are wasting a windfall from high battery sector demand. Australian hedge fund Tribeca Investment Partners, which said it... 

Teck Resources profit beats as higher coal prices offset lower sales volumes

By: Reuters     26th July 2018 Canada's Teck Resources, beat analyst estimates for quarterly profit on Wednesday as higher prices more than offset lower-than-expected sales volume of metallurgical coal. The world's second-biggest exporter of steelmaking coal stuck to its annual coal production forecast of 26-million tonnes to... 

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