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Grupo Mexico says seeking partners for Mexico oil auction

By: Reuters     Updated 1 hour 3 minutes ago Mexican mining, rail and infrastructure company Grupo Mexico said on Thursday that it was looking at partnering up with companies to bid in the second phase of Mexico's first round of oil field auctions. "We are looking at joint ventures with strategic players, we've been working so far with... 

Barrick sells 50% of Zaldívar copper mine, forms new partnership with Antofagasta

By: Henry Lazenby     Updated 1 hour 11 minutes ago The world’s largest gold miner by output, Barrick Gold has agreed to sell half its interest in the Zaldívar copper mine, in Chile, to Antofagasta for $1-billion in cash, forming a new partnership with one of the world’s largest copper producers. Barrick was in the process of reducing its... 

Cameco net earnings slide 31%

By: Henry Lazenby     Updated 2 hours 46 minutes ago Canada’s top uranium producer Cameco on Thursday reported a 31% slide in net earnings, as higher costs and a C$28-million settlement charge weighed-down the bottom line. Net earnings attributed to equity holders for the quarter ended June 30 were C$88-million, or C$0.22 per diluted share,... 

Goldcorp slashes dividend 60% despite strong Q2 performance

By: Henry Lazenby     Updated 3 hours ago The world’s largest gold miner by market capitalisation Goldcorp on Thursday said it would cut its monthly dividend per share by 60% to $0.02, effective from August 1, despite more than doubling its second-quarter profit. The TSX- and NYSE-listed miner which produced gold, silver, copper, lead... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani

By: Terence Creamer     Updated 5 hours ago In a hard-hitting address, Anglo American CEO Mark Cutifani lamented the decline in the competitiveness of South Africa's mining industry and warned that the “trust deficit” between government, the industry and labour would need to be urgently overcome if the country and the sector were to... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani
Photo by Duane Daws
Mark Cutifani

Arch Coal widens loss as tough coal market conditions persist

By: Henry Lazenby     Updated 7 hours ago US coal producer Arch Coal has widened its second-quarter loss to $168-million, or $0.79 per diluted share, as it was grappling with one of the worst coal market downturns in history. For the quarter ending June 30, the company recorded a $19.1-million impairment charge and incurred $4-million... 

Zimbabwe to cut royalty fees levied on small gold mines – finmin

By: Reuters     Updated 7 hours ago Zimbabwe will reduce royalties levied on small-scale gold producers to 1% from 3% from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. In a half-year budget presentation to parliament, Chinamasa said deliveries of gold from small scale producers had... 

Phakisa mining lab gets Cabinet nod

By: Natasha Odendaal Plans to set up the first four-week Operation Phakisa ‘mining laboratory’ to identify and resolve the challenges plaguing South Africa’s mining sector have been given the Cabinet go-ahead. The Operation Phakisa mining lab, which would get under way in October, would identify a “set of concrete... 

Phakisa mining lab gets Cabinet nod

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