Ecuador reaches compensation deal with Petrobras over assets

Ecuador agreed to pay Petrobras $217-million as compensation for seizing assets from the Brazilian state-run oil company in 2010, at least 30 percent more than a previous proposal. Ecuador took control of the oil assets owned by Petrobras in the...

Gold majors could hit ‘slam dunk’ with junior M&As

With the gold price remaining resiliently high, mid-tier and major producers pumping cash, and junior equities more depressed by the day, analysts say Iamgold’s purchase of Trelawney mining last week could be a sign of things to come....

Agnico-Eagle reports loss on mine writedown

Canadian gold miner Agnico-Eagle reported a quarterly loss late on Wednesday as a partial writedown of the value of its Meadowbank mine in the Canadian Arctic offset gains from a surge in the price of gold. The company also said its president and...

Kinross reports $2.8bn Q4 loss on asset write downs, lifts dividend 33%

It might have fallen out of investors’ favour earlier this year after announcing a big asset impairment, but Kinross has heeded their call to boost dividends, granting shareholders a one-third dividend increase to $0.08 a share. The company...

Company Announcement: Implats appoints a Chief Executive Officer

Impala Platinum Holdings Limited (Implats) is pleased to announce the appointment of Terence Goodlace as Chief Executive Officer and as an Executive Director to the Board of Directors of the Company with effect from 1 July 2012.

Paracatu mine, Brazil

An openpit mine, situated in Brazil.

Cerro Casale mine, Chile

An openpit mine, situated in Chile

Gold M&A 'wave' ahead as loaded majors eye cheap juniors: analyst

There could be a wave of mergers and acquisitions in the gold mining sector as cash-flush producers seek to snap up juniors that the market has cut a swathe through, Dahlman Rose analyst Adam Graf said on Friday. Despite the uncertainty in the...

Kinross to hike Tasiast capital cost by as much as $1bn

Kinross’s Tasiast mine in Mauritania may as much as $1-billion more than the $2.7-billion figure forecast in December, CEO Tye Burt said on Thursday. The company also delayed a feasibility study on the project until next year but said that...

JV wins more contract work in West Africa

Underground rock-mining company Barminco and diversified mining and services company Ausdrill’s 50:50 joint-venture (JV) African Underground Mining Services (AUMS) has started three new underground contract mining projects in the West African...

Tasiast one of world's 'great new gold mines' – Kinross chief

Red Back Mining's Tasiast gold deposit in Mauritania will be “one of the great new gold mines in the world today,” CEO Tye Burt said on Wednesday. Kinross has said it estimates resources at Tasiast could get to between 17-million and...

Kinross still defending Red Back deal

Kinrooss Gold said on Friday it “rejects” a negative recommendation by proxy advisory firm Institutional Shareholder Services on the gold-miner's $7-billion acquisition of West African-focused Red Back Mining. The Toronto-based gold miner...