Month: March 2018

Giustra-backed Lithium X plunges on doubts about Chinese buyer

A lithium explorer backed by Canadian mining magnate Frank Giustra dropped in Toronto trading amid speculation that its prospective buyer, a Chinese investment company, may fail to cough up the cash. Vancouver-based Lithium X Energy Corp. fell the most in...

/ March 1, 2018

Mongolia's Oyu Tolgoi mine to lift force majeure

The Oyu Tolgoi copper and gold mine in Mongolia’s southern Gobi Desert will lift force majeure effective March 1 and majority owner Turquoise Hill Resources Ltd said on Wednesday that it expected to make up any sales-related effect over the...

/ March 1, 2018

Saskatchewan company expands in Ontario

GFG Resources (TSX-V:GFG) announced today that it has completed the acquisition of Rapier Gold. In a press release, the company explained that the buy-out was an integral part of its plans to consolidate a piece of land west of the...

/ March 1, 2018

Billionaire Lundin chases base-metal buy with $3 billion budget

Sweden’s billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project. Lundin Mining Corp. is on the prowl for...

/ March 1, 2018

Mongolian court sides with government in copper mine ownership row

* Supreme Court ruled against government in December * MCC has said will challenge government plans ULAANBAATAR, Feb 28 (Reuters) – Mongolia’s Constitutional Court ruled on Wednesday that Mongolian Copper Corporation (MCC) never had the right to 49 percent of...

/ March 1, 2018

Copper price felled as Chinese factory reading drops most in 5 years

Copper futures trading on the Comex market in New York fell for the fourth straight session on Wednesday on fresh doubts about the strength of the economy in top consumer China. Copper for delivery in May slumped 1.8% to a low...

/ March 1, 2018

South Africa's mining charter to be finalized in three months

JOHANNESBURG, Feb 28 (Reuters) – South Africa’s new mining minister Gwede Mantashe said on Wednesday he will finalise the latest version of an industry charter which lays out requirements for black ownership levels and other targets in the next three...

/ March 1, 2018

Zimbabwe has potential to meet 20% of global lithium demand

* Zimbabwe keen to attract investment after Mugabe era * Zimbabwe is already Africa’s top lithium producer * Platinum producers face export penalty By Alfonce Mbizwo HARARE, Feb 28 (Reuters) – Zimbabwe has the potential to supply 20 percent of...

/ March 1, 2018

Fresnillo tanks as 2017 profit misses expectations, says costs to rise

Shares in Mexico-focused precious metals miner Fresnillo (LON:FRES) took a hit Tuesday after the company posted full year profit that missed expectations and anticipated higher costs. The miner, which is the world’s largest primary silver producer and Mexico’s second largest...

/ March 1, 2018