Industry News
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Supervisors at Antofagasta’s Centinela accept new contract
Supervisors at Antofagasta’s Centinela accept new contract Supervisors at Antofagasta Minerals’ Centinela copper mine in Chile have agreed to a new contract offer, avoiding the possibility of a strike, the union president said on Monday. The supervisors’ union agreed last week to extend g...Read more -
Rio Tinto in discussions with SFO over Simandou probe
Rio Tinto in discussions with SFO over Simandou probe Rio Tinto is in discussions with the UK’s Serious Fraud Office (SFO) about a possible deal under which the miner would avoid prosecution on bribery allegations over dealings for the giant Simandou iron mine in Guinea, the Financial Tim...Read more -
Alamos Gold to build new mine in Mexico
Alamos Gold to build new mine in Mexico Canadian miner Alamos Gold (TSX: AGI) has decided to go ahead with plans to build La Yaqui Grande gold mine in Mexico, following results from a positive internal economic study. The announcement comes on the heels of the company’s recent decision to...Read more -
Gold price rally fueled by non-traditional buyers
Gold price rally fueled by non-traditional buyers Gold’s surge to an all-time high is being fueled by an unlikely group of buyers in the form of pension funds, insurance companies and private wealth specialists. Spot prices have risen 29% so far this year and climbed to a record high of $...Read more -
Rio Tinto raises dividend, sees ‘V-shaped’ China recovery
Rio Tinto raises dividend, sees ‘V-shaped’ China recovery Rio Tinto (NYSE: RIO) said on Wednesday it saw a sharp V-shaped recovery in China as stimulus spurred industrial activity, helping its first-half profit handily beat market expectations. “We believe that China has enjoyed a very st...Read more -
Copper Mountain shares up on strong Q2 results
Copper Mountain shares up on strong Q2 results Copper Mountain Mining (TSX: CMMC) exceeded its revised operating plan for the second quarter of 2020, the Vancouver-based miner announced on Wednesday. The company operates three mines, one in British Columbia and two in Australia. Productio...Read more -
US coal consumption drops to record low
US coal consumption drops to record low Coal consumption in the US has hit a record low as the pandemic slashes energy demand. Power plants burned just 27.4 million short tons of the fuel in April, a 27% decrease from the previous year and the lowest monthly level in Energy Information Da...Read more -
US appoints coordinator for Arctic policy as mineral race heats up
US appoints coordinator for Arctic policy as mineral race heats up The Trump administration appointed a coordinator for policy in the Arctic on Wednesday, as Washington prepares to compete with Russia and China on resource extraction in a region quickly melting due to climate change. The ...Read more -
Conico to acquire Longland Resources’ Greenland projects
Conico to acquire Longland Resources’ Greenland projects Australia’s Conico (ASX: CNJ) has signed a conditional binding term sheet to acquire 100% of England registered Longland Resources in consideration for 120 million shares in Conico. The main asset behind this purchase is Longland’s ...Read more -
Vale eyes mine expansions, Samarco restart
Vale eyes mine expansions, Samarco restart Brazilian iron ore miner Vale SA is sending a proposal this month to the board for further expansion at its Northern System mining complex, and the company expects to restart operations at its Samarco complex in December, executives said on Thurs...Read more -
Gold price rally helped by ‘fundamental’ shift in asset allocation
Gold price rally helped by ‘fundamental’ shift in asset allocation While gold has been on a generally positive trend for the past few years, the onset of the global pandemic has made bullion’s relevance as a hedge even more apparent – and accelerated its price performance. During the firs...Read more -
Jiangxi Copper sells shares in First Quantum
Jiangxi Copper sells shares in First Quantum Jiangxi Copper sold 1.2 million shares in First Quantum Minerals (TSX: FM; LSE: FQM) last week according to SEDI filings, BMO reports. The Chinese company bought its equity stake in the miner in December 2019. BMO analyst Jackie Przybylowski sa...Read more