$200bn capex ambition of mining majors under spotlight

The great China-led economic supercycle that has been boosting global economies for a decade is falling below its expected trajectory, which is giving rise to questions supercycle slippage and demise.

Glencore tightens grip on global zinc market

Commodity trader Glencore is tightening its grip on the global zinc market by moving material to inaccessible locations, forcing industrial users to pay high physical premiums for a metal that is in surplus. The matter is under scrutiny because...

World’s biggest miner pulling in its horns

The world’s biggest mining company is pulling in its investment horns. BHP Billiton chairperson Jac Nasser says that the investment climate has changed since the company spoke of spending $80-billion on project growth by 2015. “As much as...

Gold hits 4-month low as dollar firms, stocks slide

Gold prices fell to four-month lows on Friday as worries over the financial health of Greece and Spain and huge trading losses for JPMorgan hurt stock markets and the euro, prompting investors to seek refuge in the dollar. Investors liquidated...

Inmet to keep 80% of Cobre Panama, remains ‘open minded’

Panama mine developer Inmet Mining on Monday said it would hold on to its 80% interest in the Cobre Panama copper/gold/molybdenum project, while CEO Jochen Tilk added that the company remained “open minded” to potential suitors. The company,...

Miners will battle resource grabs - Glencore

Mining companies will fight growing resource nationalism and could pull out of countries where governments are demanding too large a share of the pie, commodities giant Glencore warned on Friday, a day after Argentina nationalised the country's...

Bank of Canada head sees long-term commodity boom

Commodity prices are likely to remain high for longer than in previous booms, Bank of Canada Governor Mark Carney said on Tuesday, while repeating the central bank's recent warning that interest rates may need to rise. Carney, asked to name...

TSX hits highest level in nearly a month

Toronto's main stock index finished at its highest level in nearly a month on Monday as higher US natural gas prices boosted energy shares and offset losses from materials after weak US and Europe data heightened global growth fears. Energy...

Inmet profit rises on increased copper sales

Canadian base metal miner Inmet Mining Corp reported a 62% increase in quarterly profit on Thursday as higher copper production outweighed a drop in zinc output and lower metal prices. Net income from continuing operations for the quarter ended...

Lundin says Q1 profit down by 18%, prices low

Base-metals miner Lundin Mining on Wednesday reported first-quarter profit falling by 18% to $58.3-million or $0.10 a share, as a result of lower prices achieved for its commodities. In its quarterly report, the company said the average metal...

Barruecopardo tungsten project, Spain

Outside China, the Barruecopardo tungsten project is one of the premier undeveloped projects in the world.

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...