Sherritt's Q1 profit halves as sales shrink and costs rise

Sherritt International, the Toronto-based diversified miner, on Wednesday unveiled a 50% plunge in first-quarter earnings to $32.3-million on lower sales and higher costs, while fears over the global economy refuse to abate. Revenues dipped to...

Kilo Goldmines outlines plans for Afghan iron-ore deposit

Kilo Goldmines, which Afghanistan’s Ministry of Mines named as a preferred bidder to develop part of the massive Hajigak iron-ore deposit, could conclude talks with the government over a mining right for the project by mid-year, CEO Alex van...

Pakistan says no to Antofagasta-Barrick Gold mine

Pakistan's Baluchistan province has rejected a mining lease application from Chilean copper producer Antofagasta and Canada's Barrick Gold, raising questions over the future of their Reko Diq copper-gold project. The two miners' joint venture,...

Gold shares will eventually track bullion higher: Barrick's Regent

As gold continues to beat consensus forecasts, analysts will have to change their assumptions, and equities in producers will then likely climb, Barrick Gold CEO Aaron Regent said on Wednesday. The biggest factor holding back the share prices of...

Barrick 'cautious' on Pakistan copper/gold project

Barrick Gold will be “very cautious” in its plans for the Reko Diq copper/gold project in Pakistan, but still views the asset as attractive, CEO Aaron Regent said on Wednesday. “This is an outstanding deposit, and also technically fairly...

Mincor expands into PNG with $30m joint venture

Nickel miner Mincor Resources has extended its reach into Papua New Guinea (PNG) by signing a gold and copper exploration joint venture (JV) with local firm Niuminco and its PNG subsidiaries. The JV is worth an estimated $30-million, Mincor said...

Stratex and Antofagasta to explore for copper in Turkey

Junior Stratex International has teamed up with Chilean copper miner Antofagasta to explore copper and copper/gold deposits in Turkey. Antofagasta has committed to an initial 16-month, $1-million target-generation and exploration programme, which...

Antofagasta’s FY profit rises to over $1bn

Chile's Antofagasta increased its profit by 58% last year, thanks to the strong copper price and higher production, it reported on Tuesday. The London-listed miner earned $1,05-billion in 2010, compared with $667,7-million in 2009.

Antofagasta to explore in Sweden

Chile's Antofagasta Minerals has signed a joint venture and strategic regional alliance for copper exploration in Sweden with Eurasian Minerals. This represents the seventh country in which the mining firm, owned by Grupo Luksic, will be...

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

India environment ministry hauls up two projects

India's environment ministry asked two high-profile projects why it should not close them over possible violations of green rules, continuing an assertive break with tradition that has hit several multi-billion-dollar investments. Lavasa, a unit...

Barrick looks to next round of projects to maintain 9Moz/y target

Barrick Gold, which wants to produce nine-million ounces of gold a year in five years' time, is already lining up new and expansion projects to ensure it can maintain output at that level for the five years after that, CEO Aaron Regent said on...