Month: February 2019

Barrick CEO says he'll run Newmont's mines better than they can

Barrick Gold Corp.’s new chief executive officer wasted no time telling Newmont Mining Corp. shareholders that he can do a better job. The two companies are trading barbs after Barrick launched a hostile bid for Newmont, which would disrupt a...

/ February 26, 2019

Newmont fires back at "unqualified" Barrick team's "shocking" record

Whether it was a premeditated move by CEO Mark Bristow to launch Barrick’s hostile bid only a couple of hours before Newmont’s outgoing boss Gary Goldberg was scheduled to speak to a select group of investors isn’t clear. What is...

/ February 26, 2019

Copper Mountain floats new mine plan with longer life, more output and lower cash costs

Vancouver-based Copper Mountain Mining Corp. has published a new integrated mine plan that increases both copper and gold production, extends mine life, and lowers cash costs. The new plan includes a modest expansion of the existing Copper Mountain mill to...

/ February 26, 2019

De Beers consolidates Canadian, South African assets

De Beers Group has decided to merge its mining assets in Canada and South Africa under the name De Beers Group Managed Operations. The change is expected to create a more sustainable business and to streamline operations in both countries....

/ February 26, 2019

Australia's Evolution Mining buys 19.9% stake in Tribune Resources

Australian gold company Evolution Mining Ltd said on Monday it had acquired a 19.9 percent stake in smaller peer Tribune Resources Ltd for A$41.3 million ($29.55 million). Evolution said Tribune’s major asset was its interest in the East Kundana mining...

/ February 26, 2019

Michael Klein strikes gold from Canada to Saudi Arabia

Michael Klein – World Economic Forum 2008 From breaking into an elite cabal of Saudi Arabian advisers, to being called to work on what could be one of the largest-ever mining takeovers, Michael Klein is making his mark as one...

/ February 26, 2019

Actually, Australia should be panicked about coal

Sydney is a wonderful, modern town. But, over the past few days, all anyone here has wanted to talk to me about is that most 19th-century of industries: coal. It’s not hard to see why, after a startling report last...

/ February 26, 2019

Australia's Queensland rail moves up flooded track repairs to end-April

* QR CEO says Mt Isa railway fixed as soon as end April * Repair estimate reduced from 6 months to 8-12 weeks * Line carries 5 pct of global zinc supply from mine to port Australia’s Queensland Rail said...

/ February 26, 2019

Newcrest CEO says 'happy to do M&A' if right value for shareholders

Newcrest Mining Ltd Chief Executive Sandeep Biswas said on Monday his company would pursue a potential acquisition only if it were the right value for investors, adding that he would prefer to buy assets rather than whole companies. “We are...

/ February 26, 2019

Former Xstrata boss Mick Davis to mine Guinea's Zogota iron ore deposit

Niron Metals, headed by the former boss of Xstrata Mick Davis, will develop Guinea’s Zogota iron ore deposit, previously owned by BSG Resources (BSGR). The news, confirmed via an emailed statement, follows a Monday agreement between Israeli tycoon Beny Steinmetz,...

/ February 26, 2019

OceanaGold tables resource at WKP prospect in New Zealand

OceanaGold (TSX: OGC; US-OTC: OCANF) has tabled a maiden resource at its WKP gold prospect, 10 km north of its Waihi gold mine in New Zealand. WKP’s East Graben vein contains 410,000 indicated tonnes grading 18 grams gold and 22.7...

/ February 26, 2019

Steinmetz stages Guinea comeback in Sarkozy-brokered deal

Israeli mining tycoon Beny Steinmetz is making a dramatic return to Guinea after the billionaire ended a bitter dispute with the West African country that brought his business empire to its knees. The settlement, brokered by former French President Nicolas...

/ February 26, 2019