Gold price drops most since December 2016

Volatility has not only returned to equity markets. Gold on Tuesday suffered its worst trading day since December 2016 according to MarketWatch. A week ago the price of gold gained the most since financial markets were shocked by Britain voting...

/ 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

Southern Copper wins auction for massive Peru copper project

An auction for the $2 billion Michiquillay copper project in Peru attracted 10 interested companies according to Peru’s government investment agency Proinversión with Southern Copper Corp declared the winner on Tuesday . Reuters reports Southern Copper won the tender with a...

/ 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

Kal Tire talks retreading

When off-the-road tires (aka OTR) get damaged by rocks, nails, pipes or by something else at a mining site in Canada, they then have to travel hundreds of miles to be repaired either from a non-structural to a structural point...

/ February 21, 2018

Mosaic says quarterly revenue rises 12 pct

Mosaic Co, the world’s largest producer of finished phosphate products, on Monday reported a 12 percent rise in net sales driven by higher potash and phosphates prices. Plymouth, Minnesota-based Mosaic sold 2.5 million tonnes of diammonium phosphate in the fourth...

/ February 21, 2018

Eramet eyes expansion in electric vehicle metals

PARIS, Feb 20 (Reuters) – Eramet Chief Executive Christel Bories said on Tuesday that the French mining group is looking to expand in minerals like cobalt, lithium and nickel salts linked to energy transition markets like electric vehicles. Eramet is...

/ February 21, 2018

Tanzania's new mining rules impose restrictions on foreign banks, insurers

DAR ES SALAAM, Feb 20 (Reuters) – Foreign-owned banks, insurance companies and law firms could be locked out of Tanzania’s mining sector as part of tough new regulations that aim to limit foreign ownership of mining-related activity. Africa’s fourth-largest gold...

/ February 21, 2018

BHP rebuffs Elliott as first-half profit hits three-year high

BHP Billiton Ltd. rejected a new activist call for a corporate overhaul and joined rivals in boosting investor returns as first-half profit rose to a three-year high. The world’s biggest miner raised interim dividend payments 38 percent to beat estimates...

/ February 21, 2018

Barrick exec. to chair Global Mining Standards and Guidelines Group

Barrick Gold’s Chief Innovation Officer, Michelle Ash, has been appointed as the new chair of the Global Mining Standards and Guidelines Group (GMSG), an industry body that seeks to improve communication, facilitate collaboration and foster a more sustainable and efficient future of...

/ February 21, 2018

NovaGold up on better-than-expected drilling results for Alaska mega-project

Shares in NovaGold Resources (TSX: NG) got a boost Tuesday morning after the miner said that 2017 drilling results for its flagship Donlin project in Alaska, which is being developed in a 50-50 partnership with Barrick Gold (TSX, NYSE:ABX), unveiled higher...

/ February 21, 2018