Category: Other News

Canada the world's top mining destination, despite Saskatchewan fall

Canada the world’s top mining destination, despite Saskatchewan fall But Finland is now the most attractive jurisdiction this year. Cecilia Jamasmie | Feb. 22, 2018, 2:00 AM | | Canada is the world’s most attractive region for mining investment, based...

/ February 22, 2018

Maintaining optimal security in the Oil, Gas and Energy industries

Security, both physical and cyber security, is a top priority for any organization, especially in light of the year-on-year rise in cyber-crime. However, for certain industries, not having the proper security measures in place can put more than just the...

/ February 22, 2018

Compass Minerals lays off workers at world’s largest underground salt mine

Despite reporting increased revenue and operating earnings in 2017’s last quarter, U.S.-listed Compass Minerals (NYSE:CMP) announced today that management fired 48 permanent workers from Goderich, the world’s largest underground salt mine. The mine, named after the Ontario town where it...

/ February 22, 2018

Fremont to acquire property in world’s second richest gold province

Vancouver-based Fremont Gold (TSX.V: FRE) announced today that it has entered into an option agreement with Ely Gold Royalties and its wholly-owned subsidiary Nevada Select Royalty to acquire 12 unpatented lode mining claims covering approximately 100 hectares in Elko Country,...

/ February 22, 2018

Cash-rich global miners eye India as coal sector opens up for private firms

India’s decision to allow private and foreign companies to bid for coal mines without any end-use or price restrictions is likely to lure foreign giants such as BHP, Rio Tinto, Anglo American and Glencore, currently swimming in cash. According to...

/ February 22, 2018

Russia's central bank gold hoard is now bigger than China's

The Bank of Russia in January increased its holdings by almost 20 metric tons to 1,857 tons, topping the People’s Bank of China’s reported 1,843 tons. While Russia has increased its holdings every month since March 2015, China last reported...

/ February 22, 2018

Miners rich in cash are aiming for fat dividends, debt payments

The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors. Three of the big four London-listed miners have released earnings this month, and it’s clear the companies are...

/ February 22, 2018

Apple in talks to buy cobalt directly from miners — report

Tech giant Apple Inc (NASDAQ: AAPL) is said to be in talks to buy long-term supplies of cobalt directly from miners as a way to ensure sufficient supply of the metal, an essential ingredient in the batteries that power its...

/ February 22, 2018

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

Miner and commodities trader Glencore (LON:GLEN) said Wednesday it would pay shareholders $2.9bn in dividends after achieving what it called its “strongest results on record”, driven by a sharp recovery on commodity markets. The 2017 results leave Ivan Glasenberg, the head of the...

/ February 21, 2018

Fortescue Metals half-year profit plunges 44%

MELBOURNE, Feb 21 (Reuters) – Australia’s Fortescue Metals Group reported a 44 percent drop in first-half profit, hit by weak prices for its lower quality iron ore, and said it remains focused on cutting costs, including lining up cheaper debt....

/ February 21, 2018

AngloGold to revive Ghana mine that battled illegal miners

AngloGold Ashanti Ltd. will reopen its idled Obuasi mine after Ghana approved a plan to redevelop the asset as a more profitable, mechanized operation. Obuasi, which for years battled incursions by illegal miners, is expected to start gold production by...

/ February 21, 2018

BHP CEO will meet with activist Elliott to discuss demands

(Bloomberg) — BHP Billiton Ltd.’s top executive will meet with major critic Elliott Management Corp. this week to discuss demands for a business overhaul that the activist group argues could deliver more than $22 billion in value. BHP’s first-half results missed...

/ February 21, 2018