SilverCrest Mines lifts earnings, production increases

TSX-V-listed SilverCrest Mines on Tuesday reported a strong first-quarter performance, posting earnings of $6.34-million, or 7c a share, compared with a loss of $2.82-million in the same period last year. The company achieved revenue of...

Pebble project to absorb $107m this year

The owners of the Pebble copper/gold asset in Alaska, Anglo American and Northern Dynasty, have signed off on a $107-million 2012 work programme for the controversial project. The money will go towards continuing environmental studies, drilling,...

Kayelekera production back on track

Uranium miner Paladin Energy on Wednesday told shareholders that striking employees at its Kayelekera operation, in Malawi, would return to work after a meeting with the Local Staff Association (LSA) and government officials. Workers at the...

Kipoi exceeds Tiger's expectations

ASX- and TSX-listed copper miner Tiger Resources has reported that the heavy media separation (HMS) plant at its Kipoi project, in the Democratic Republic of Congo, has been producing at 200% above its nameplate capacity. During May 12, the HMS...

Alacer Gold warns of higher FY costs

Shares in miner Alacer Gold tumbled on the ASX on Wednesday as it warned that costs would increase by some $55/oz in the 2012 financial year. Alacer, which has a primary listing on the TSX, hiked its operating cost guidance to between $645/oz and...

What's in a name? Rio Tinto gives Ivanhoe the blues

If ever there was any doubt about what Rio Tinto was really after in its pursuit of Canadian miner Ivanhoe Mines, the answer just became crystal clear. Ivanhoe Mines said on Wednesday it will ask shareholders in June to approve a new name for the...

Brazil billionaire's CCX to list on S.Paulo bourse

Brazilian billionaire Eike Batista's conglomerate, EBX, will list its Colombian coal mining offshoot, known as CCX, on the Sao Paulo stock exchange on May 25, the head of the newly founded company said on Tuesday. The listing would be the fifth...

Paulson holds to gold ETFs in Q1, profits as prices rise

Prominent hedge fund manager John Paulson held on to his exchange-traded fund (ETF) bullion holdings in the first quarter of this year, profiting from an early surge in gold prices before the market tanked, a regulatory filing by his company...

Brigus Gold reports higher profit, production

Brigus Gold reported a 30% increase in first-quarter profit on the back of higher gold prices, an increase in production and lower costs. Income and comprehensive income rose by 27.9% to $5.5-million, or 3c a share, from $4.3-million, or 2c a...

Patriot Coal slides on weak outlook for sales volumes

Shares of Patriot Coal fell 10% after the miner cut its outlook for metallurgical coal sales volumes, citing potential default by a key customer. Patriot Coal shares fell to a three-year low of $4.36 on Tuesday on the New York Stock Exchange.

US March brass mill imports, exports fall y-on-y

US imports of brass mill products eased 0.9% in March from a year earlier and exports fell 11.7% during that time, an industry group said. Imports of brass mill products in March slipped to 43.5-million pounds from 43.9-million pounds in the same...

Copper miner KGHM's profit falls on forex loss

Europe's No 2 copper producer KGHM, which recently bought Canadian rival Quadra, posted a 29% drop in first-quarter net profit, hit by exchange losses from the strength of the zloty. The result was in line with analysts' expectations, with...