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U3O8 Corp forms local partnership on concessions next to Argentina project

By: Henry Lazenby     Updated 3 hours ago Canadian uranium explorer U3O8 Corp has signed an exploration agreement with the provincial petroleum and mining company of Chubut province, Argentina, which would allow it to explore properties located next to its own Laguna Salada uranium deposit. Should it succeed to define resources on the... 

Southern Copper reports lower Q1 profit as river spill clean-up costs mount

By: Henry Lazenby     Updated 4 hours ago Mexican mining giant Grupo Mexico subsidiary Southern Copper has reported a 12.7% slide in profit for the three months ended March 31, as expenses related to the Sonora river spill last year impacted the bottom line. The NYSE- and BVL-listed miner reported net income of $282.4-million, which was... 

Southern Copper reports lower Q1 profit as river spill clean-up costs mount

Peru says it could ask for changes to Southern Copper project amid protests

By: Reuters     Updated 5 hours ago Peru's energy and mines minister said on Friday the government could ask Southern Copper to make further changes to its $1.4-billion Tia Maria project if needed after protests by farmers turned deadly this week. Rosa Maria Ortiz said the government was focused on restarting talks with opponents... 

Arch Coal announces board of directors succession plan

By: Henry Lazenby NYSE-listed Arch Coal on Thursday announced several changes to its board, in keeping with its planned succession process. President and CEO John Eaves had been elected chairperson and CEO effective immediately, succeeding Wesley Taylor, who would remain on the Arch board. 

Peabody's weak forecast eclipses cost-cutting plan

By: Reuters Coal miner Peabody Energy's forecast of a bigger-than-expected loss for the current quarter overshadowed the company's latest plan to cut costs, sending its shares to a near 13-year low. The company, which also reported a bigger-than-expected first-quarter loss, said on Thursday it plans to sell... 

Newmont Mining posts profit well ahead of estimate

By: Reuters Newmont Mining, the world's number two gold miner, reported an adjusted quarterly profit that was double the analysts' average estimate, helped by lower costs. All-in sustaining costs to produce one ounce of gold fell nearly 18% to $849 in the first-quarter ended March 31. This cost metric,... 

Canada's Sherritt says strike at Madagascar plant resolved

By: Reuters Diversified Canadian miner Sherritt International Corp said the strike at its Ambatovy plant near Toamasina, Madagascar, had been resolved and normal operations had resumed. Last week, some of Sherritt said employees went on strike at the processing plant, but did not specify a particular reason... 

Paladin loses 10% production in March quarter

By: Esmarie Swanepoel Uranium miner Paladin Energy has reported a 10% decline in production during the March quarter from its Langer Heinrich mine, in Namibia. The company said on Friday that while mining production volumes remained on target, production at the Langer Heinrich plant was affected by a failure of the... 

Mining firms replenish coffers

By: Henry Lazenby Several miners this week successfully completed private placements to shore up their balance sheets in anticipation of pursuing their strategic corporate objectives. Africa-focused project developer Ivanhoe Mines and China-based Zijin Mining Group on Monday closed an $85-million private... 

Commerce Resources successfully completes rare earth pilot plant trials

By: Henry Lazenby The first phase in a series of flowsheet pilot plant tests on material from Commerce Resources 100%-owned Ashram project has been completed, the Quebec-focused rare earths project developer reported this week. The TSX-V-listed firm said the pilot plant had produced enough bulk quantities of... 

Barrick will not suspend copper mine as Zambia backs down on royalties

By: Reuters Barrick Gold Corp, the world's biggest gold producer, said on Thursday it will not suspend operations at its Lumwana open-pit copper mine in Zambia now that the country's government has reduced mining royalties. Zambia's cabinet set the royalty tax rate for open-pit and underground mining at 9%... 

PEA reports healthy operating margins at Rathdowney Resources’ Polish project

By: Henry Lazenby TSX-V-listed Rathdowney Resources has completed a preliminary economic assessment (PEA) of its 100%-owned Olza zinc/lead project, located in south-western Poland, which indicated healthy operating margins, a high internal rate of return (IRR) and a short payback period. The PEA calculated the... 

Despite sliding mining sales, Caterpillar lifts Q1 profit

By: Henry Lazenby American mining equipment manufacturer and financier Caterpillar has reported a sharp increase in first-quarter profits despite lower sales, as restructuring effort over the past 12 months gained traction. For the three months ended March 31, the NYSE-listed firm improved profits by 20% to... 

Despite sliding mining sales, Caterpillar lifts Q1 profit

Freeport-McMoRan books significant Q1 loss on sliding commodity prices

By: Henry Lazenby US-based diversified miner Freeport-McMoRan swung to an eye-popping first-quarter net loss of $2.5-billion, or $2.38 a share, on the back of writing down the carrying value of its oil and gas properties and a related tax charge to establish a deferred tax valuation allowance. The net loss... 

Freeport-McMoRan books significant Q1 loss on sliding commodity prices

DRDGold records higher Q3 profit, production and sales

By: Ilan Solomons JSE- and NYSE-listed surface gold miner DRDGold’s operating profit increased by 16% quarter-on-quarter to R97.6-million for the quarter ended March 31, reflecting higher gold production and sales, as well as a stronger average rand gold price. Gold production for the third quarter of the 2015... 

DRDGold records higher Q3 profit, production and sales

Acacia Mining's core profit falls on low gold prices

By: Reuters Gold miner Acacia Mining said its first-quarter core profit fell 18% as falling gold prices offset an increase in ounces sold. Gold prices are expected to average $1 209/oz in 2015, according to a poll of 38 analysts and traders conducted by Reuters in April. 

Anglo American sees solid Q1

By: Megan van Wyngaardt Global miner Anglo American on Thursday reported that its first quarter for the year delivered a solid production performance, in line with expectations. Although its South African iron-ore mines were facing some challenges, compounded by a weak iron-price, the company reported a 71%... 

Anglo American sees solid Q1

Chile regulator seeks new sanctions against Barrick's Pascua-Lama

By: Reuters Chile's environmental regulator SMA said on Wednesday it will seek new sanctions against Barrick Gold's massive Pascua-Lama gold and silver project, further complicating the possibility that the suspended mine might resume construction. The regulator already fined Barrick $16-million in May 2013... 

Vale reports record Q1 iron-ore output despite price rout

By: Henry Lazenby Brazil-based global miner Vale has reported record first-quarter iron-ore output despite a global supply glut that wis being compounded by waning demand from China, the world’s top importer of the steelmaking ingredient. For the three months ended March 31, total iron-ore output, excluding... 

Vale reports record Q1 iron-ore output despite price rout

Nevsun makes progress with Eritrean zinc expansion

By: Henry Lazenby Canadian miner Nevsun Resources is on track to start commissioning the new zinc plant currently under construction at its flagship Bisha operation, in Eritrea, by mid-2016. The Vancouver-based firm on Wednesday reported that overall construction progress stood at 60%, with foundations and civil... 

Skills dearth retarding mechanised mining success – Gold Fields 

By: Martin Creamer Plans being fleshed out by South Africa’s Chamber of Mines (CoM) in liaison with government for a centre of excellence were poised to take mechanised mining to the next level, Gold Fields CEO Nick Holland said on Tuesday. But in the meantime, the going continued to be tough in the mechanised... 

Skills dearth retarding mechanised mining success – Gold Fields
Photo by Duane Daws
Nick Holland

Black-owned Merafe reports upped ferrochrome output from venture with Glencore

By: Martin Creamer The black-owned and black-managed ferrochrome company Merafe said on Wednesday that its chrome venture with Glencore had lifted production by 15% in the three months to March 31. The company, headed by CEO Zanele Matlala, saw its share price rise by 1.32% to 77c a share in early morning trades. 

Black-owned Merafe reports upped ferrochrome output from venture with Glencore
Photo by Duane Daws
Zanele Matlala

Regal signs on for Ivanhoe projects in the DRC

By: Esmarie Swanepoel ASX-listed junior Regal Resources has inked an agreement with Canada’s Ivanhoe Mines to acquire a 98% interest in a number of exploration permits in the western Katanga Copperbelt, in the Democratic Republic of Congo (DRC). Regal could earn an initial 80% interest in the five permits by spending... 

IMX confirms Chilalo basics

By: Esmarie Swanepoel A high level study into ASX-listed IMX Resource’s Chilalo graphite project, in Tanzania, has confirmed that the project has the criteria for a successful operation. “The high level study confirms the Chilalo graphite project presents a near-term development opportunity and supports our decision... 

BHP defers infrastructure project as it takes slower path to 290Mt/y target

By: Esmarie Swanepoel Mining major BHP Billiton on Wednesday announced plans to defer its inner harbor debottlenecking project, in the Pilbara, as its iron-ore operations delivered record production during the nine months ended March. Production from the iron-ore operations was expected to reach 250-million tonnes... 

BHP defers infrastructure project as it takes slower path to 290Mt/y target
Photo by Bloomberg
BHP Billiton CEO Andrew Mackenzie

US companies failed to report Africa conflict minerals – report

By: Reuters Nearly 80% of American companies surveyed by two human rights groups failed to meet a US rule requiring they monitor whether their products contain minerals from war-torn Africa. The joint report by Amnesty International and Global Witness is the first by outside groups to analyze so-called... 

Canada’s mining industry welcomes federal budget 

By: Henry Lazenby Canada's national mining association has welcomed the Conservative government’s balanced federal budget 2015, citing its pleasure with renewed funding for critical areas such as environmental assessments, the Major Projects Management Office, Aboriginal education and training, and geoscience.... 

Canada’s mining industry welcomes federal budget
Photo by Reuters
Canada's Finance Minister Joe Oliver on Tuesday tabled a C$990.3-billion balanced budget.

USW rejects tentative deal with Century at Kentucky aluminium smelter

By: Reuters Unionised workers at Century Aluminium's Hawesville, Kentucky aluminium smelter voted to reject a tentative agreement on a new five-year labour contract, the United Steelworkers Local 9423 said on its website. The two sides had reached a tentative collective bargaining agreement last Wednesday,... 

Arch Coal narrows Q1 loss yet disappoints analysts, cuts output outlook

By: Henry Lazenby Despite missing analyst earnings expectations, US miner Arch Coal has narrowed its first-quarter loss and cut its full-year output outlook as a result of weakening coal prices. Net earnings narrowed to $113.2-million, or $0.53 a share, in the quarter ended March 31, down from a loss of... 

Teck Resources misses Q1 analyst earnings forecasts, slashes dividend by two thirds

By: Henry Lazenby Canada’s largest diversified miner Teck Resources has cut its twice-yearly dividend by two-thirds as lower commodity prices and weakening Chinese metallurgical coal demand weighed on the Vancouver-based company’s first-quarter results. Teck on Tuesday announced an eligible dividend of $0.15 a... 

Teck Resources misses Q1 analyst earnings forecasts, slashes dividend by two thirds

Flawless 100 ct diamond sells for $22.1m at NY auction

By: Reuters An eye-popping, 100 ct diamond, the highlight of a magnificent jewels sale in New York on Tuesday, sold for $22.1-million, Sotheby's auction house said. The perfect classic emerald-cut D colour diamond, which is about the size of a walnut and was mined by De Beers in Southern Africa, was... 

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