Mining companies pressed to boost production amid record prices, rising demand

The Canadian mining sector in the first quarter of 2011 looks and feels starkly different compared with the industry that rang in the New Year just two years earlier

Goldcorp says reserves up 23%

Canada's second-biggest gold producer, Vancouver-based Goldcorp, increased its year-end gold reserves by 23%, the firm said late on Wednesday. Goldcorp's reserves stood at 60,1-million ounces at the end of 2010, while measured and indicated...

Goldcorp output rose to record, targets 4Moz/y by 2015

Vancouver-based Goldcorp produced a best-ever 2,52-million ounces last year, and said on Monday it expects production will rise 60% over the next five years. Fourth quarter gold production came in at 686 300 oz, the firm said in a statement.

Goldcorp closes Andean acquisition

Canada's second-biggest gold producer, Goldcorp, has completed its acquisition of Andean Resources, The company said earlier this month it would pay about C$765-million in cash and issue around 61-million shares, after giving Andean investors an...

Goldcorp will pay C$765m cash, issue 61m shares for Andean buy

Vancouver-based Goldcorp will settle about 21% of its C$3,6-billion acquisition Andean Resources in cash, and the rest will be paid in shares, the firm said on Friday. Andean shareholders had an option between 0,14 of a Goldcorp share, C$6,50 in...

Goldcorp gets approval for Argentina gold project

Local authorities in Argentina's Santa Cruz province have approved an environmental impact assessment on the Cerro Negro project, which is owned by Andean Resources. Andean agreed earlier this year to a takeover by Canada's second-biggest gold...

Australian court approves Goldcorp acquisition of Andean

The Federal Court of Australia has approved the acquisition of Andean Resources by Canada's second-biggest gold-miner, Goldcorp, and the firms expect the transaction to close by the end of this month. Goldcorp said on Wednesday it plans to start...

Andean shareholders Ok Goldcorp takeover

Vancouver-based Goldcorp's acquisition of Andean Resources is expected to close this month, after a requisite majority of Andean shareholders voted in favour of the deal. The scheme of arrangement is still subject to Andean obtaining court orders...

Argentina Mining to list on ASX, announces A$5m IPO

Newly-established explorer Argentina Mining on Monday reported that it was hoping to raise A$5-million through an initial public offering (IPO), ahead of its listing on the ASX next month. The Perth-based company has lodged an IPO prospectus with...

Goldcorp predicts further gains for gold, doubles dividend

Vancouver-based Goldcorp, which announced a 100% dividend increase on Wednesday, expects further increases in the gold price over the longer term, although the yellow metal will likely stay volatile for a while, CEO Chuck Jeannes said in an...

As gold price keeps upward trend, miners settle for organic growth

Despite dubbing it ‘the ultimate bubble’, billionaire George Soros is reportedly continuing to hold gold. The hedge-fund legend - whose Soros Fund is said to hold a $645-million in gold - has made his “gold is the ultimate bubble” comment...

Argentine gold production to increase 21% in 2010

Gold production in Argentina will grow to 2,05-million ounces this year, Mining Secretary Jorge Mayoral said on Monday. Gold output in the country was 1,7-million ounces in 2009.