China, eurozone woes fuel risk aversion

Commodities slid on Monday, with copper hitting fresh three-month lows and oil and grains also in the red, as worries about the global economy from China to Europe pushed investors out of risky assets. Gold, otherwise a safe haven, fell too, as...

Emerging world buys $10bn in gold as West wobbles

Central banks of emerging market countries such as Korea and Thailand have added more than $10-billion of gold to their reserves this year in a sign of waning faith in the West's benchmark bonds and currencies like the dollar and the euro....

First Nickel sells nickel, copper hedges

TSX-listed First Nickel has completed forward sales agreements for 15-million pounds of nickel and 12-million pounds of copper from its Lockerby mine in Sudbury to meet the conditions of a debt facility. The hedges, which were required before the...

Stornoway to buy other 50% of Quebec diamond project

TSX-listed Stornoway Diamond Corp will buy the 50% it does not own in the firm's flagship Renard diamond project from a Quebec government company, in exchange for shares in Stornoway and a 2% revenue royalty on future production from the project.

Northland to raise $200m to $250m in offering

Iron-ore hopeful Northland Resources plans to raise between $200-million and $250-million in share offering, the firm said on Tuesday. The pricing of the offering will be determined through an accelerated book-building process, the company said.

Northland inks offtake deal with Standard Bank, plans equity raise

Northland Resources, which has iron-ore assets in Scandinavia, has signed an offtake agreement with Standard Bank plc for up to three-million tons a year and also announced over the weekend it is taking steps to secure the last piece of funding...

Gold miners returned to net hedging in Q2 – GFMS

Gold producers added a net 160 000 oz of hedging in the second quarter of this year, marking a shift from an extended period of sharp hedge cuts, consultancy GFMS said on Thursday. In its quarterly global hedge book analysis, published with...

First Nickel plans C$30m loan facility

Toronto-based First Nickel has signed an engagement letter to appoint Societe Generale and Commonwealth Bank of Australia to act as exclusive lead arrangers for a senior secured project loan facility up to C$30-million, the firm said on...

Bank of International Settlements in unusual gold-swop deals

Three big banks - which the Financial Times of London says are HSBC, Société Générale and BNP Paribas - were said to be among more than ten in Europe that exchanged gold with the Bank for International Settlements (BIS) in a series of unusual...

Stornoway launches Renard feasibility study

Canadian diamond hopeful Stornoway Diamond and partner Societe generale de financement du Quebec (SGF) have formally begun a feasibility study for their Renard project, in north central Quebec, and will also look at building a power line to...

Iamgold adds new credit facilities

Toronto-based Iamgold has increased its $140-million secured, revolving credit facility to a $350-million unsecured, revolving credit facility, the company said on Friday. The increased facility, which will expire in March 2013, gives Iamgold...

Osisko says latest deal completes Malartic project funding

Montreal-based Osisko Mining has signed a financing agreement with CPPIB Credit Investments, for an up to C$150-million loan facility, the firm reported on Thursday. “This financial package allows us to fulfill the terms of the previously...