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Alpha Natural affiliates to downsize Central Appalachian mining ops

By: Henry Lazenby     Updated 15 minutes ago Several operating affiliates of US coal miner Alpha Natural Resources on Friday notified more than 500 employees that their mining and processing operations would probably be idled. NYSE-listed Alpha’s affiliates gave 439 employees at Rockspring Development's Camp Creek underground mine and... 

Alpha Natural affiliates to downsize Central Appalachian mining ops

Red Kite co-founder plans new Orion metals fund – sources

By: Reuters     Updated 41 minutes ago US mining financier Oskar Lewnowski is preparing to launch a base and precious metals fund, sources say, his latest step in recreating the famed trading and investment enterprise he co-founded a decade ago, Red Kite. Two years after striking out on his own to create private equity investment... 

Trafigura's global metals trading chief Simon Collins resigns

By: Reuters     Updated 42 minutes ago Trafigura's global head of the metals and minerals trading division, Simon Collins, has resigned for personal reasons, the commodities merchant said on Friday, the second senior executive departure in the past month. Group CEO Jeremy Weir has taken the reins of the business, the second largest... 

Silvercorp widens FY loss as mine impairment charges weigh

By: Henry Lazenby     Updated 1 hour 39 minutes ago China-focused miner Silvercorp Metals has reported a wider net loss for the 2015 fiscal year, weighted down by booking $130.3-million in impairment charges at two mines as a result of lower metals prices. For the year ended March 31, the Vancouver-based company reported a net loss of... 

Wolfden Resources terminates Murray Brook acquisition, opts for Manitoba claim

By: Henry Lazenby     Updated 3 hours ago Base metals explorer Wolfden Minerals has cancelled its exclusivity agreement with Votorantim Metals Canada to buy a 65% interest in the Murray Brook project, the fifth-largest massive sulphide deposit in the Bathurst Mining Camp (BMC) of New Brunswick, settling instead for a Manitoba... 

Well-known institutional investor joins U3O8 Corp’s board

By: Henry Lazenby     Updated 3 hours ago Uranium explorer U3O8 Corp has appointed well-known institutional investor David Franklin to its board with immediate effect. Franklin brought to the board a proven record of mining investment experience that would help U3O8 Corp’s expand its investor reach and position the company for further... 

Eldorado Gold renews share purchase scheme

By: Henry Lazenby     Updated 6 hours ago Canadian gold producer Eldorado Gold has renewed its share-buying programme for another year, in order to satisfy obligations under its restricted share unit plan (RSU plan) for employees, officers of the company or a related entity as the designated by the board. Eldorado on Friday reported... 

Buffalo considers restructuring, placed under TSX delisting review

By: Megan van Wyngaardt     Updated 7 hours ago Troubled coal miner Buffalo Coal said on Friday that it would continue to consider restructuring alternatives at its Dundee operations, in KwaZulu-Natal, and advised shareholders that it was under a TSX delisting review. The dual-listed South Africa-focused company’s finances were under strain,... 

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