Month: December 2018

Semafo reports third security incident in Burkina Faso

In August, Semafo (TSX: SMF) started flying expatriate employees by helicopter from its Boungou and Mana mines in Burkina Faso to the capital city of Ouagadougou. The Toronto-based company also heightened and reinforced escorts for the transportation of its national...

/ December 4, 2018

ISS backs Detour Gold board proposals in Paulson proxy fight

Institutional Shareholder Services Inc (ISS) has advised shareholders to vote for Detour Gold Corp’s refreshed board of directors at an upcoming special shareholders’ meeting, stopping short of more aggressive changes demanded by activist investor Paulson & Co, the company said...

/ December 4, 2018

Trade war relief for metals, but bull-bear battle rages on: Andy Home

LONDON – Is it a ceasefire, a truce or the opening to a lasting peace deal? The jury is very much out on exactly what Presidents Donald Trump and Xi Jinping agreed during their talks at the G20 summit in...

/ December 4, 2018

Glasenberg says he'll stay for 3 to 5 years: Glencore Update

Glencore Plc is updating investors Monday as the world’s biggest commodities trader nears the end of a tough year. The company’s faced challenges spanning the Democratic Republic of Congo to Russia and a U.S. Department of Justice probe that have...

/ December 4, 2018

Drill success continues in Newfoundland for Marathon

Assays from holes drilled into the southwestern part of the Marathon deposit intersected intervals of high-grade gold over wide intervals at open-pit depths, Marathon Gold Corp. (TSX: MOZ) reports. Highlights include 17.39 grams gold over 5 metres from 213 metres...

/ December 4, 2018

China copper premiums slump to 18-month low as demand wanes

BEIJING – Premiums for imports of copper into China, the world’s biggest copper consumer, sank to an 18-month low on Monday in a sign that demand for physical metal is waning after a buying spree. The premiums, paid on top...

/ December 4, 2018

Congo triples levy on cobalt with strategic-minerals decree

KINSHASA – Democratic Republic of Congo has declared cobalt a “strategic” substance, a government decree showed on Monday, nearly tripling the royalty rate miners will pay on the key component in electric batteries to 10 percent. Prime Minister Bruno Tshibala...

/ December 4, 2018

Nautilus setting JV to secure support vessels for Solwara 1 project

Shares in Canada’s Nautilus Minerals (TSX:NUS), one of the world’s first seafloor miners, climbed more than 10% on Monday as the company disclosed is negotiating the terms of an agreement with arm’s length third parties that would involve the creation of...

/ December 4, 2018

Congo state miner in production-sharing deal with Chinese firm

KINSHASA – Congo’s Gecamines said on Monday it had signed a production-sharing deal for copper and cobalt deposits with HongKong Excellen Mining, which will pay a $40 million signing bonus. Democratic Republic of Congo is Africa’s top copper producer and...

/ December 4, 2018

Suncor Energy weighing impact of Alberta's mandatory oil production cuts for next year

Suncor Energy (TSX:SU), Canada’s largest oil and gas producer by market cap., said Monday it was evaluating the impact of the Alberta government’s decision to force oil production cuts next year to deal with a pipeline bottleneck that has led to stock...

/ December 4, 2018

Management shake-up at Glencore costs copper chief Mistakidis his job

Miner and commodities trader Glencore (LON:GLEN) said is letting go its head of copper trading, Telis Mistakidis, by the end of this year, as the executive has recently been under increased scrutiny following a string of investigations, problems and legal headaches, particularly...

/ December 3, 2018

Codelco strikes contract deal with workers at Ministro Hales mine

Chile’s state copper miner Codelco said on Saturday it had reached agreement on a new collective labor contract with the union of workers at its Ministro Hales mine in northern Chile. The 36-month contract, which includes a signing bonus of...

/ December 3, 2018