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Brazil's Vale resumes Amazon rail expansion after suspension

By: Reuters     Updated 1 hour 10 minutes ago Brazilian miner Vale said on Wednesday it had resumed work on the expansion of a rail line which is part of its giant Carajas iron-ore project in the Amazon after a court suspension was lifted. Work had been partially stopped since July 9, due to the potential impact on a nearby indigenous... 

Centerra Gold makes progress in diversifying asset base, reports strong Q2 performance

By: Henry Lazenby     Updated 1 hour 11 minutes ago Canadian miner Centerra Gold has completed a positive feasibility study on its fully owned Öksüt project, located in south-central Turkey, with first gold production slated for early in the second quarter of 2017. The feasibility treatment’s base-case scenario estimated the project to have an... 

Alacer Gold lifts Q2 profit on strong Çöpler output, lower costs

By: Henry Lazenby     Updated 1 hour 12 minutes ago TSX- and ASX-listed Alacer Gold this week reported strong results for the quarter ended June, as lower costs and improved production boosted the bottom line. The Toronto-headquartered company on Monday reported an 8% improvement in gold production from its 80%-owned Çöpler gold mine, in Turkey,... 

Capstone Mining’s Q2 profit sags on lower sales, prices

By: Henry Lazenby     Updated 1 hour 13 minutes ago Canadian miner Capstone Mining has reported a 92% slide in second-quarter earnings, as lower sales, lower realised prices and increased costs impacted the company’s quarterly performance. Vancouver-based Capstone, which had operations in the US, Mexico, Canada, Chile and Australia, reported net... 

Despite falling profit, New Gold’s Q2 results beat expectations

By: Henry Lazenby     Updated 1 hour 14 minutes ago New Gold has reported an adjusted net loss of $1.3-million, or $0.00 a share, in the second quarter ended June, compared with an adjusted profit of $8.2-million, or $0.02 a share in the year-earlier period. The TSX- and NYSE MKT-listed copper, gold and silver producer did, however, beat analyst... 

Despite iron-ore headwinds, Cliffs is back in the black

By: Henry Lazenby     Updated 1 hour 15 minutes ago Global miner Cliffs Natural Resources has in the past 12 months managed a return to profitability despite the price of iron-ore sinking to its lowest since at least 2009 earlier month, as the largest producers such as Rio Tinto Group and BHP Billiton boosted output into an oversupplied market.... 

Kinross swings to Q2 loss, mulls more Mauritania job cuts

By: Henry Lazenby     Updated 1 hour 20 minutes ago Canadian miner Kinross Gold has started discussions with the Mauritania government and employee representatives at its Tasiast gold miner regarding cost saving measures, including a potential workforce reduction, the miner said on Wednesday. The TSX- and NYSE-listed miner said the blighted... 

Kinross swings to Q2 loss, mulls more Mauritania job cuts
Photo by Kinross Gold
Tasiast, Mauritania.

Nautilus Mining awards vessel dewatering plant design contract

By: Henry Lazenby     Updated 1 hour 21 minutes ago Prospective seafloor miner Nautilus Minerals has awarded a contract for the detailed design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane office of the global consulting engineering firm DRA Group. The scope of work awarded to DRA... 


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