Month: February 2019

Equinox Gold attracts $130m investment from Abu Dhabi

Equinox Gold (CVE: EQX) has attracted a $130m investment from Abu Dhabi’s state-owned Mubadala Investment Co. in the form of convertible notes. The notes are for five years with a 5% interest rate convertible at $1.05 per share, a 25%...

/ February 27, 2019

MGX enters next phase in development of high energy lithium-ion batteries

MGX Minerals and its partner, the University of British Columbia, has completed the first phase of work to create next-generation lithium-ion batteries capable of quadrupling energy density up to 400 Wh/kg from the current 100 Wh/kg. The first phase of...

/ February 27, 2019

Coal's perfect storm rattles home to $50B new projects

It’s been a tough few weeks for Australia’s coal industry. First there was a court ruling blocking a new mine on climate change grounds, then one of the world’s largest producers Glencore Plc capped output growth, and finally China was...

/ February 27, 2019

Botswana offers Zimbabwe $600m of loans -report

Botswana has offered to lend Zimbabwe $600 million to support its diamond industry and local private firms, a state-owned newspaper reported on Tuesday, amid a severe dollar crunch in the southern African nation. There are few signs the flow of...

/ February 27, 2019

'Loser' vs 'anemic': Barrick's Newmont bid starts on toxic note

Long-time rivals Barrick Gold Corp and Newmont Mining Corp renewed their animosity on Monday with their chief executives trading insults after Barrick launched an $18 billion hostile bid for the U.S. company, presaging an aggressive battle. The tough talk underscored...

/ February 27, 2019

Nornickel expects bigger palladium supply deficit in 2019

* Nornickel sees 2019 palladium market deficit at 800,000 oz * Sees 2019 global palladium consumption up by 500,000 oz * Reports 2018 EBITDA of $6.2 bln, highest level since 2011 Norilsk Nickel, the world’s largest palladium producer, said on...

/ February 27, 2019

‘Bubble’ warning sounds over 2019’s hottest commodity

Palladium’s deficit-driven ascent has some analysts warning of the growing potential for a correction given the rapid sprint upward. The silvery-white metal used to control harmful emissions in gasoline-fueled cars surged 40 percent in four months, hitting repeated records, as...

/ February 27, 2019

Fresnillo misses 2018 output targets, warns of challenging year ahead

Shares in Mexico-focused precious metals miner Fresnillo (LON:FRES) took a hit Tuesday after the company warned of possible lower prices, higher inflation and worsening foreign exchange rates in 2019. The company also disappointed investors by missing its long-term production target of...

/ February 27, 2019

Barrick-Newmont merger would leave up to $7B of assets up for grabs

Canada’s Barrick Gold’s (TSX:ABX)(NYSE:GOLD) hostile $17.8 billion bid for rival Newmont Mining (NYSE:NEM) could free up a group of assets the combined company would no longer consider key, such as their Kalgoorlie super pit 50/50 joint-venture in Western Australia. After launching the...

/ February 26, 2019

BC government creates new divisions to improve mine safety and promote investment

The British Columbia Ministry of Energy, Mines and Petroleum Resources announced this week it will now have two expanded mining divisions: the Mines Health, Safety and Enforcement Division and the Mines Competitiveness and Authorizations Division. In a press release, the...

/ February 26, 2019

Freeport investing to mitigate risk from tailings dams -CEO

Freeport-McMoRan Inc Chief Executive Richard Adkerson said on Monday his company has been investing heavily to mitigate any danger from tailings dams and is “comfortable” with engineering designs in place at existing dams. Adkerson’s comments come a month after a...

/ February 26, 2019

Bayhorse pours first .9999 fine bar in Oregon

Bayhorse Silver of Vancouver has poured the first silver bullion from its mine of the same name in the central part of the state. The button contains 37.69 oz. of .9999 fine silver, and is stamped with the Liberty Refinery...

/ February 26, 2019