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Constant improvement crucial for the mining industry

By: Jessica Oosthuizen     15th February 2019 Industry organisation the Prospectors & Developers Association of Canada’s (PDAC’s) is to hold its annual convention in Toronto, Canada from March 3 to 6, and PDAC president Glenn Mullan says the convention must constantly improve to benefit people in the industry. “Staying relevant is... 

Goldcorp reports Q4 adjusted profit

By: Mariaan Webb     14th February 2019 Midtier miner Goldcorp posted fourth-quarter adjusted earnings of $61-million, or $0.07 a share, compared with $116-million, or $0.14 a share, a year earlier, the soon-to-be-bought company announced late on Wednesday. Goldcorp, which is being taken over by Newmont in a $10-billion stock-for-stock... 

Newmont appoints Rio Tinto exec as new COO

By: Creamer Media Reporter      5th February 2019 Global gold miner Newmont has appointed Rio Tinto’s head of productivity Rob Atkinson as executive VP and COO with effect from June 1, the company announced on Monday. Atkinson will succeed Tom Palmer, who is taking over as CEO from Gary Goldberg, who will retire in the fourth quarter. 

Polymetal to shun M&A in 2019, focus on asset sales

By: Reuters     1st February 2019 Russian gold and silver producer Polymetal said on Thursday it will focus on asset sales in 2019 rather than getting involved in industry consolidation. "The pressure from at least some of our shareholders has been to grow smaller or to grow more focused to reduce the number of assets in our... 

Gold bull McEwen sticks with his $5 000 call as pot stocks peak

By: Bloomberg     18th January 2019 Gold mining veteran Rob McEwen is nothing if not optimistic. The founder of Goldcorp is sticking with his bold prediction that the precious metal will soar almost fourfold to $5 000/oz, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. 

Goldcorp names #DisruptMining semi-finalists

By: Creamer Media Reporter      18th January 2019 The six semi-finalists for #DisruptMining 2019 and the five 'sharks' who will judge the live finale of Goldcorp's yearly innovation challenge have been named. 

Leagold outlines plans for expanded Los Filos mine

By: Creamer Media Reporter      18th January 2019 The Los Filos gold mine in Mexico that Leagold bought from Goldcorp almost two years ago has the potential to be expanded to 350 000 oz/y, the Canadian company reported this week, announcing the results of an expansion feasibility study. The study incorporates the potential for the development... 

Monster gold-mining deals pile pressure on those left behind

By: Bloomberg     15th January 2019 Mark Bristow’s tenure as boss of the world’s biggest gold miner might have been short-lived, but his message for smaller rivals just got even more pointed. “Holy camoly, I missed out on a great opportunity!” is how Bristow described anyone not involved in Barrick Gold’s purchase of Randgold... 

Garofalo may exit with $6.9m in biggest gold M&A

By: Bloomberg     15th January 2019 Investors and analysts are still debating whether the biggest gold mining deal ever is good for acquirer Newmont Mining, but the CEO of the target company could end up millions of dollars richer. David Garofalo is eligible to collect at least $6.9-million, including as much as $4.6-million in... 

Newmont deal for Goldcorp erodes Canada's gold clout further

By: Bloomberg     15th January 2019 Canada’s influence on the global mining industry appears to be shrinking by the day. Perhaps stung by the nationalistic backlash against Barrick Gold Corp's merger with Randgold Resources, Newmont Mining devoted a big chunk of its news release Monday explaining how its $10-billion offer for... 

Newmont's Goldcorp gamble may need 'drastic surgery' to work

By: Bloomberg     15th January 2019 The cost to create the world’s largest gold company: A 17% premium for a $10-billion all-shares acquisition that faces some big-time challenges down the line. Newmont Mining’s deal for Goldcorp stands in stark contrast to the recent zero-premium merger between Barrick Gold and Randgold... 

Goldcorp achieves 2018 production guidance

By: Tasneem Bulbulia     14th January 2019 Vancouver-headquartered Goldcorp, which on Monday announced a $10-billion merger with gold major Newmont, produced 630 000 oz of gold in the fourth quarter of 2018, a 25% increase from the third quarter of 2018, and exceeding its previously stated guidance. Production for the year ended 2018 was... 

Newmont seeks to become world's biggest gold producer through $10bn Goldcorp buyout 

By: Marleny Arnoldi     14th January 2019 NYSE-listed Newmont Mining Corporation and NYSE- and TSX-listed Goldcorp have entered into a definitive agreement that will result in Newmont acquiring all shares of Goldcorp in a stock-for-stock transaction valued at $10-billion. Newmont will acquire each Goldcorp share for 0.3280 of a Newmont... 

Gold miners to focus on mitigating risks – Fitch Solutions 

By: Simone Liedtke     8th January 2019 Consultancy company Fitch Solutions believes the gold mining industry will remain fragmented, with the top five companies producing just one-fifth of global output. Despite the company’s expectation of a slight rebound in prices, it stated in its latest ‘Outlook for gold miners’ report, published... 

Canada challenges innovators to modernise 100-year-old mining processes

By: Creamer Media Reporter      31st October 2018 Canadian Natural Resources Minister Amarjeet Sohi has challenged innovators to develop new technology solutions to lower energy consumption for crushing mined rock - a process that currently accounts for up to 3% of the world’s electricity usage. Launching the $10-million Crush It! Challenge,... 

Goldcorp’s all-electric Borden gets $5m govt boost

By: Creamer Media Reporter      30th October 2018 The Canadian government has announced a $5-million investment to support TSX- and NYSE-listed Goldcorp Borden project, which will be the first underground mine in the country to replace all diesel mobile equipment with battery electric vehicles. The new all-electric Borden, in Chapleau, Ontario,... 

Investors doubling their capital injection at IMARC this year

29th October 2018 In only its fifth year, the International Mining and Resources Conference has grown to be one of the largest events of its kind attracting the industry’s biggest operators and investors alike. The most up-to-date numbers show that investors with a staggering $5.4 trillion in assets under... 

Goldcorp falls from top tier of miners as Agnico moves ahead

By: Bloomberg     26th October 2018 Agnico-Eagle Mines is now among the top three gold miners in North America based on market capitalisation, as erstwhile industry darling Goldcorp tumbled 18% Thursday on a “miserable quarter.” The three largest gold miners on the continent are Newmont Mining at $15.7-billion, Barrick Gold at... 

Impending Barrick-Randgold tie-up to create a major force in gold sector

By: Rebecca Campbell     26th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto Stock Exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq Stock Exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

Teck Resources adjusted earnings fall on low commodity prices

By: Reuters     25th October 2018 Diversified miner Teck Resources reported a near 23% drop in third-quarter adjusted earnings on Thursday as prices for the Canadian company's main products fell in the quarter. Teck, the world's second-biggest exporter of steel-making coal, said adjusted profit fell to C$466-million, or C0.81 a... 

Gold merger will create industry 'superpower'

By: Rebecca Campbell     19th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto stock exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq stock exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

TomaGold creates executive chair position

By: Creamer Media Reporter      12th October 2018 Canadian explorer TomaGold, which is in joint ventures with Iamgold and Goldcorp, has created a new role of executive chairperson and appointed Robert Rosner to the position. Rosner will be primarily responsible for overseeing, promoting and facilitating the company’s strategic plans and... 

Barrick's Bristow bet seen as boosting South America revival

By: Bloomberg     28th September 2018 Mark Bristow built a reputation as the developer and operator of lucrative mines in Africa. Now the world’s biggest gold mining company is betting he can do the same in another complex region, South America. The Randgold Resources founder is set to become CEO of Barrick Gold after Barrick said... 

Centenera to buy six Argentina precious metals projects

By: Creamer Media Reporter      6th September 2018 TSX-V-listed Centenera Mining has signed a binding letter agreement granting it the right to acquire up to a 100% interest in six precious metals properties in the Deseado Massif in Santa Cruz, giving the firm a meaningful foothold in the mining and exploration district. The agreement is with an... 

DISPENSING WITH THE NEED FOR DIESEL:

By: Martin Creamer     10th August 2018 Operator Adam Ladouceur is guiding an electric jumbo drill at Goldcorp's Borden underground gold mine project in Canada, which is dispensing with the use of diesel-powered equipment. This quiet battery-powered tunnelling machine is making its way towards gold without lowering air quality. Near... 

Rising profits meet trade fears as commodity producers report

By: Bloomberg     24th July 2018 Investors will probably like most of what they see when energy, mining and farm-products companies report earnings for the most recent quarter. It’s the rest of the year they’re worried about. Commodity bellwethers including Exxon Mobil, Freeport-McMoRan, and Archer-Daniels-Midland are among a... 

Slim's Minera Frisco, Goldcorp agree tie-up in Mexico

By: Reuters     29th June 2018 Minera Frisco, a mining company controlled by Mexican tycoon Carlos Slim, said on Thursday it had struck an exploration agreement in Mexico with a local unit of Canada's Goldcorp in which the two would be equal partners. The agreement was to explore for, and if possible, exploit minerals in... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

By: Bloomberg     22nd June 2018 Flush with cash and armed with a knack for spotting mines producing below their potential, SSR Mining is on the hunt for more assets. “We want to continue to grow, no question,” John DeCooman, VP of strategy and business development, said in an interview Wednesday. “We’ll continue to look for... 

Lydian to appoint former Goldcorp and Newmont CFO as director

By: Creamer Media Reporter      19th June 2018 TSX-listed Lydian International, which is building the Amulsar gold mine in Armenia, on Tuesday announced that it would appoint gold mining executive Russell Ball as director at its annual general meeting on June 28. Ball is a former executive VP and CFO of gold majors Goldcorp and Newmont Mining. 

Tahoe’s Clayton passes baton to James Voorhees

By: Mariaan Webb     12th June 2018 Precious metals miner Tahoe Resources has appointed mining engineer and founding director James Voorhees as its new president and CEO, succeeding Ronald Clayton, who is retiring on Friday. Voorhees has been a director of the company since its inception in 2010 and he will remain on the board... 

Goldcorp says protest could halt production at Mexico gold mine

By: Reuters     11th June 2018 Canada's Goldcorp said on Monday an ongoing protest blocking entry to its Penasquito mine, one of Mexico's biggest gold producers, could force the company to halt output. The mine, in northern Zacatecas state, produced 476 000 oz of gold last year, comprising 18% of Goldcorp's total production... 

Goldcorp signs IBA with three First Nation communities in Ontario

By: Marleny Arnoldi     6th June 2018 TSX-listed Goldcorp and three First Nation communities – Brunswick House, Chapleau Cree and Chapleau Ojibwe – have signed an impacts and benefits agreement (IBA) with respect to the development and operation of the Borden gold project, near Chapleau, in northern Ontario.  

ICMM releases latest mining safety data of its members

30th May 2018 Today, the International Council on Mining and Metals (ICMM) released its annual safety data report on its member companies (1).  

ICMM is committed to strengthening the health and safety performance of its members and reducing operational fatalities to zero. As part of this commitment we... 

Goldcorp says Peru and Nevada would make portfolio perfect

By: Bloomberg     22nd May 2018 Goldcorp CEO David Garofalo says he’s happy with his company’s portfolio of assets, but that doesn’t mean he doesn’t have a wish list. In an ideal world, the company would have an asset in Nevada’s Carlin Trend. “If you’re an Americas-based gold company, you should be there. Barrick and Newmont... 

Barrick, Goldcorp to convert Pueblo Viejo power plant to natural gas

By: Henry Lazenby     14th May 2018 Barrick Gold and Goldcorp’s Pueblo Viejo Dominicana Corporation (PVDC), in the Dominican Republic, will convert the Quisqueya I power generation facility from heavy fuel oil (HFO) to natural gas, with the expectation of saving about $54/oz of gold produced over the remaining life of the... 

Northwest Territories gets shortest end of straw as mining boosts Nunavut, Yukon economies

By: Henry Lazenby     1st May 2018 A lack of new mining projects in the development pipeline of Canada’s Northwest Territories (NT) is threatening to derail the region’s economic growth outlook, the latest ‘Territorial Outlook’ by The Conference Board of Canada (CBoC) has found. The independent Ottawa-headquartered think tank... 

Goldcorp earnings slide on lower output, sales

By: Henry Lazenby     26th April 2018 Canadian mining major Goldcorp has reported a sharp drop in first-quarter profit, as higher gold prices failed to offset lower production, sales and rising costs. The Vancouver-based miner reported profit of $67-million, or $0.08 a share, which was far removed from the $170-million, or $$0.20 a... 

Goldcorp makes 3 000 oz ‘genesis block’ deposit as first blockchain technology used to store hard assets

By: Henry Lazenby     29th March 2018 Major gold producer Goldcorp has made a 3 000 oz gold deposit into Tradewind Markets’ VaultChain platform, representing a significant milestone for blockchain technology to track and store hard assets. Goldcorp’s deposit reflects the ‘genesis block’ – the first block in a blockchain – and is the... 

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