Hochschild Mining announces $425m Peru investment

Hochschild Mining will invest $425-million in two projects in Peru over the next two years, its executive chairperson said on Monday. The investment will go to argentiferous projects Inmaculada and Crespo, near the company's Arcata and Pallancata...

Peru miner says decision on Newmont's Conga near

US-based Newmont Mining and its Peruvian partner Buenaventura will respond in "coming days" to government recommendations on the $4.8 -illion Minas Conga gold project, Buenaventura's CE said on Monday. The most expensive mine ever attempted in...

SouthGobi posts profit, says Mongolia mines open

SouthGobi Resources, a coal miner with operations in Mongolia, reported a first-quarter profit on Monday, as its sales nearly doubled and its average selling price rose. The Toronto-listed miner said its coal mines in Mongolia were still...

Colombian Q1 coal output rises 14.6%

Colombia's coal production jumped 14.6% to 23.31-million tons in the first three months of 2012, compared with the same period last year, the Andean country's mining regulator said on Monday. Colombia's coal industry is dominated by big producers...

Rights issue, loans send White Tiger tumbling on TSX

Shares in Canadian junior White Tiger Gold plunged more than 50% in early Toronto trade after the company announced loan deals with its two biggest shareholders, and that it would pay new stock to them expanding its issued share capital by some...

B2Gold profit rises on higher gold prices

Canadian miner B2Gold Corp posted a 28% rise in quarterly profit, helped by higher gold prices. First-quarter net income rose to $14.6-million, or 4c per share, from $11.4-million, or 3c a share, a year earlier.

SouthGobi says Mongolian mining operations continue

SouthGobi Resources said on Monday its coal mining operations in Mongolia continued despite a recent government announcement about a planned suspension of its mining licenses. After China's state-owned Chalco said in April it planned to acquire a...

Molycorp to raise $650m in debt offer

Rare-earth miner Molycorp said on Monday it will raise up to $650-million in an offering of senior secured notes with the proceeds earmarked to help fund its $1.3-billion takeover of Neo Material Technologies. Molycorp's shares fell 1.1% to...

Sunridge prefeas concludes Debarwa could be standalone mine

TSX-V-listed Sunridge Gold on Monday reported its Debarwa volcanogenic-massive-sulphide (VMS) copper/gold/zinc deposit, part of the Asmara project, in Eritrea, could be a standalone economically feasible mine. Earlier this month, Sunridge...

Search for new Baja CEO under way as Greenslade resigns

Embattled copper junior Baja Mining on Monday said CEO, president and director John Greenslade had resigned, and Tom Ogryzlo had been appointed as interim CEO. The company said in a statement that while a search for a new CEO was under way, CFO...

Sea change in labour dynamics as AMCU emerges – Lonmin

Labour dynamics are going through a sea change with the emergence of the Association of Mineworkers and Construction Union (AMCU) to rival the dominance of National Union of Mineworkers (NUM), says Lonmin CEO Ian Farmer. Farmer, who heads South...

Cameco buys uranium trader Nukem for $136m

Cameco, the biggest listed uranium producer, agreed to pay private equity firm Advent International €105-million, or $136-million, for nuclear fuel trader Nukem to deepen its involvement in marketing and secure alternative supplies, the company...