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Randgold CEO warns against tax hike in new Congo mining code

By: Reuters     Updated 29 minutes ago The Democratic Republic of Congo’s (DRC's) focus on maximising short-term tax revenues risks squandering long-term mining prospects, the chief executive of one of its largest mining investors warned on Wednesday. Speaking at a mining conference in Kinshasa, Mark Bristow, the CEO of gold miner... 

Resources Watch

By: Creamer Media Reporter      Updated 42 minutes ago Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry. This week: A R50-million virtual reality centre is set to revolutionise mine design. Rockwell Diamonds reports that costs are down, revenue is up, and... 

Resources Watch

BC introduces new two-tier tax on income from LNG facilities

By: Henry Lazenby The province of British Columbia had this week introduced its much-anticipated legislation for a new two-tier tax on net income from liquefied natural gas (LNG) facilities. The legislation, which was originally announced in the provincial budget in February, introduced a two-tier income tax that... 

BC introduces new two-tier tax on income from LNG facilities

MBAC stock surges on loan maturity extensions, liquidity update

By: Henry Lazenby The TSX-listed stock of Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday jumped by as much as 157%, or C$0.11, after the struggling company reported that it had signed final agreements with its senior lenders to extend the maturity of its loans and defer related interest and... 

Nautilus Minerals steps closer to releasing PNG funding

By: Henry Lazenby Prospective seafloor miner Nautilus Minerals had satisfied one of the conditions precedent to releasing $113-million, which project partner the Papua New Guinea (PNG) government had paid into escrow in May, representing the balance of the State’s 15% share of capital required to complete the... 

Quebec govt and miners to undertake Labrador Trough rail feasibility

By: Henry Lazenby The Quebec government had formed a partnership with mining companies Champion Iron and Lac Otelnuk Mining to undertake a feasibility study on building a multi-user railway linking the port of Sept-Îles with the Labrador Trough, a 1 600 km-long geological belt rich in iron-ore deposits. The... 

Lucara’s exceptional diamond tenders rake in $136m in 2014

By: Henry Lazenby Southern Africa-focused miner Lucara Diamond Corp this week reported that exceptional stone tenders had this year accounted for $136-million, reflecting a strong diamond market and robust demand for large precious gems from the company’s flagship Karowe mine, in Botswana. The TSX- and... 

Lucara’s exceptional diamond tenders rake in $136m in 2014

Fortress Minerals to buy stalled Ecuador project for $240m from Kinross

By: Henry Lazenby TSX-V-listed Fortress Minerals had agreed to buy the stalled Fruta del Norte (FDN) gold/silver project, in Ecuador, for $240-million in cash and scrip from TSX- and NYSE-listed Kinross Gold. Kinross last year booked a $720-million charge related to the discontinued FDN. Kinross shelved the... 

Fortress Minerals to buy stalled Ecuador project for $240m from Kinross

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