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Topic

Big metal is conspicuously tight-lipped on US-China rift

By: Bloomberg     16th June 2018 If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying. A full-out trade war between the US and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s US tariffs by cutting imports of raw... 

Teck recognised for its corporate citizenship

By: Anine Kilian     8th June 2018 Canadian diversified miner Teck Resources has been recognised as one of the top companies in Canada for corporate citizenship by media and investment research company Corporate Knights, marking the twelfth consecutive year Teck has been named to the Best 50 Corporate Citizens in Canada ranking.... 

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... 

Midas jumps on Barrick’s strategic backing

By: Henry Lazenby     10th May 2018 The TSX-listed equity of Midas Gold jumped nearly 19% following an announcement by Barrick Gold that it will increase its position in the company to 19.9%. Barrick sees the investment as a strategic move to gain access to the Stibnite gold project, in Idaho, which Barrick president Kelvin... 

Maiden resource announced at Connemara’s Stonepark JV

By: Creamer Media Reporter      17th April 2018 Irish gold and zinc explorer Connemara Mining has announced a maiden inferred resource estimate at its Stonepark zinc project, in Limerick. The joint venture (JV) project between Group Eleven (76.56%) and Connemara (23.44%) has a mineral resource estimate of 5.3-million tonnes, grading 11.15%... 

Teck lifts Quebrada Blanca Phase 2 ownership to 90%

By: Henry Lazenby     5th April 2018 Canadian diversified miner Teck Resources has bought out a further 13.5% minority stake in the Quebrada Blanca Phase 2 (QB2) project, in Chile, for $52.5-million in cash by acquiring private Chilean company Inversiones Mineras (IMSA), the company said on Wednesday. The transaction lifts Teck’s... 

Teck Resources lowers Q1 met coal sales guidance

By: Anine Kilian     12th March 2018 Canadian metals and mining company Teck Resources has lowered its metallurgical coal sales guidance for the first quarter of this year to six-million tonnes. It had previously expected coal sales to be between 6.3-million and 6.5-million tonnes. 

Drilling gets under way at Stonepark zinc project

By: Creamer Media Reporter      9th March 2018 Drilling at the Stonepark zinc joint venture (JV) project, in Limerick, is set to start in the next few weeks, 23.44%-owner Connemara Mining reported on Friday. The London-listed company said that the drilling was aimed at determining if exploration success at the adjacent Pallas Green project of... 

Southern Copper wins tender for Peru's mine

By: Reuters     20th February 2018 Southern Copper won a tender to develop Peru's estimated $2-billion Michiquillay copper mine in an auction that attracted just two bidders, the government's Proinversion investment agency said on Tuesday. Southern, controlled by Grupo Mexico , won with a proposal to transfer $400-million to the... 

Despite reporting a Q4 earnings miss, Teck equity rises on record revenue, cash flow

By: Henry Lazenby     14th February 2018 Canadian diversified miner Teck Resources has reported fourth-quarter headline earnings slightly below analyst expectations, as lower metallurgical coal sales and prices offset metal price improvements in the three-month period to December 31. Adjusted profit attributable to shareholders in the... 

Smelters expected to reduce zinc processing fees amid mine supply shortage

By: Reuters     8th February 2018 Zinc smelters are set to accept lower fees for processing concentrate into metal when annual contracts are hammered out next week at a conference in California, as a crunch in mine supply stretches into a third year. Treatment charges (TCs), the fees miners pay smelters to process their ore, are... 

China's war on noxious smog stokes rally in minor metals

By: Reuters     7th February 2018 China's environmental crackdown is curbing supplies of minor metals such as steel-making ingredient vanadium and defence equipment material germanium, and fuelling an already potent price rally which shows no sign of abating. Strict environmental rules and inspections to ensure standards are... 

Fort Hills Energy LP reports first oil

By: Henry Lazenby     30th January 2018 Lead shareholder and operator of Canada's newest oil sands mine Suncor announced on Monday that the new C$13.5-billion Fort Hills oil sands project, in Alberta, had started secondary extraction on Saturday. Fort Hills, which is located about 90 km north of the country's oil capital, Fort... 

Elkview dryer incident to cost Teck 200 000 t of coal output

By: Henry Lazenby     26th January 2018 Canadian diversified miner Teck Resources said on Thursday that a "significant pressure event" that had interrupted operations in the coal dryer at its Elkview mine, in British Columbia, will cost the company about 200 000 t of coal output this year. The Vancouver-based miner has informed the... 

Zinc exploration budgets expected to outperform in 2018

By: Anine Kilian     8th January 2018 While budget allocations for most commodities are expected to increase this year as the recovery in the mining industry continues, zinc will outperform owing to the strong prices seen in 2017, the latest report from S&P’s Global Market Intelligence’s Metals & Mining team states. Prompted by the... 

Suncor, Teck up stakes in new Fort Hills oil sands project

By: Henry Lazenby     4th January 2018 The partners of the C$13.5-billion Fort Hills oil sands project, in Alberta, have resolved a commercial dispute, resulting in Suncor Energy increasing its ownership in the project to 53.06%, and Teck Resources upping its stake to 20.89%, from 50.8% and 20%, respectively. The companies reached... 

Teck forecasts higher Q4 realised coal prices

By: Henry Lazenby     6th December 2017 Canadian diversified miner Teck Resources has increased its forecast realised prices for all tonnes of coal sold in the fourth quarter to a range $165/t to $170/t, the Vancouver-based miner said on Tuesday. The TSX- and NYSE-listed company advised that its realised price for the period is now... 

Teck declares supplemental dividend of C$0.40 a share

By: Henry Lazenby     17th November 2017 Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of... 

Ghost town of Cobalt gets first jolt from Tesla’s electric cars

By: Bloomberg     1st November 2017 Ironically, Cobalt, Ontario – population 1,100 – was built on silver. Remnants of a boom that transformed the town more than a century ago are everywhere. A mine headframe still protrudes from the roof of the bookstore, which was previously a grocery. The butcher used to toss unwanted bones down... 

Teck concludes acquisition of Goldcorp’s 21% minority share in San Nicolas

By: Samantha Herbst     19th October 2017 TSX- and NYSE-listed senior gold producer Goldcorp has completed the $50-million sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico to Canadian diversified miner Teck Resources. The closing follows receipt of Mexican anti-trust approval and the... 

Time for mining industry to take action

29th September 2017 In the wake of commodity prices beginning to show signs of recovery in 2016, mining companies globally have taken steps to strengthen their balance sheets, building a platform from which to take decisive action about the future, says multinational professional services provider PwC Africa energy,... 

Market Report: How carbon is shaping energy for mines

By: Creamer Media Reporter      20th September 2017 By Catherine Skrzypinski, Energy and Mines Alongside power security and cutting energy costs, reducing the emissions intensity of mining operations has been elevated to a top strategic concern for the global mining sector. The combination of carbon pricing in key mining markets and increased... 

Teck ups Red Dog guidance; outlines significant exploration target for Aktigiruq

By: Henry Lazenby     19th September 2017 Canada’s largest diversified miner Teck Resources has added about 50 000 t of zinc output to the full-year guidance for its Red Dog mine, in Alaska. Vancouver-headquartered Teck advised that improving recoveries in the last few months has prompted the company to lift guidance to a range of 525... 

Teck sells interest in Ireland zinc project to G11

By: Mariaan Webb     13th September 2017 Canadian miner Teck Resources has sold its 76.56% interest in the Stonepark zinc project, in Ireland, to base metals explorer Group Eleven Resources (G11), according to joint venture (JV) partner Connemara Mining. Connemara chairperson John Teeling previously said the explorer was keen to have... 

Teck falls most among miners on $1bn China share sale

By: Bloomberg     6th September 2017 Teck Resources dropped the most among large mining stocks after China Investment Corp unloaded nearly half its stake in Canada’s largest diversified miner. The Vancouver-based company dropped 6.7% to C$29.47 at the close in Toronto, making it the worst performer in the Bloomberg World Mining... 

Explorer Connemara raises £135 000

By: Creamer Media Reporter      15th August 2017 Irish exploration firm Connemara Mining has raised £135 000 in a share placing, the Aim-listed company announced on Tuesday. Connemara placed 7 848 837 new shares of €0.01 each in the company at 1.72p a share to raise the capital. 

Connemara appoints new CEO

By: Samantha Herbst     14th August 2017 Aim-listed Irish exploration company Connemara Mining has appointed Patrick Cullen its new CEO, effective from Monday.   Cullen boasts over 20 years of experience in the mining and exploration sector, most recently as a director of UK-based mining and metals company Kodal Norway. He was also... 

This Canadian copper giant is missing best of metal's surge

By: Bloomberg     12th August 2017 As copper producers from Freeport-McMoRan to BHP Billiton ponder what to do with the windfall from surging prices, First Quantum Minerals has no such dilemma. Unlike most of its peers, First Quantum’s copper sales are fully hedged – at an expected average price of $2.37/lb for the second half of... 

Teck profit jumps as coking coal market comes to life

By: Henry Lazenby     28th July 2017 Canada’s largest diversified miner Teck Resources has reported a remarkable jump in headline earnings for the three months ended June, with the company's steelmaking coal division benefiting from higher prices and sales volumes. Adjusted profit attributable to shareholders in the period under... 

Rox and Marindi reach accord

By: Esmarie Swanepoel     27th July 2017 ASX-listed Marindi Metals and Rox Resources have buried the hatchet, with the two companies reaching an agreement over Rox’s sale of its interest in the Reward joint venture (JV). Rox in August last year accepted Marindi’s A$21-million offer for its 49% share in the Reward project, subject to JV... 

USW threatens walkout at Teck's Highland Valley Copper ops

By: Henry Lazenby     15th July 2017 Members of the United Steelworkers Union (USW) will vote on Sunday whether to stage a walkout at Canadian diversified miner Teck Resources’ Highland Valley Copper mine. About 1 050 workers said they have been working without a collective agreement in place since last year and now, against a... 

Imperial’s Mount Polley mine impacted by BC wildfires

By: Henry Lazenby     11th July 2017 Base metals miner Imperial Metals has significantly reduced operations at its Mount Polley openpit copper/gold mine, in the Williams Lake area of British Columbia, as about 17 ‘wildfires of note’ posing a threat to public safety, rage in four of the province’s six fire management centres. Many of... 

Teck buys Goldcorp’s 21% stake in San Nicolás project, Mexico

By: Henry Lazenby     29th June 2017 Canadian diversified miner Teck Resources has agreed to buy Goldcorp’s 21% interest in the San Nicolás copper/zinc project, in Mexico’s Zacatecas state, for $50-million. The transaction will fully consolidate Teck’s ownership of the project and is part of Goldcorp’s ongoing strategy to pare... 

Connemara keen to find new zinc partner with ‘deeper pockets’

By: Mariaan Webb     28th June 2017 Irish explorer Connemara Mining chairperson John Teeling is open to bringing in a new joint venture (JV) partner for the company's zinc exploration projects in Limerick and Meath, claiming on Wednesday that progress is too slow in a market where zinc prices are rising fast. Connemara has two JV... 

Teck cuts steelmaking coal price forecast

By: Henry Lazenby     16th June 2017 Canadian diversified miner Teck Resources has pruned back its forecasted average realised price for steelmaking coal in the second quarter, saying extreme Australian weather has disrupted the market. The announcement sent Teck’s TSX-listed stock falling nearly 5% in the afternoon session to a... 

From Tesla cars to underwear, metal makers seek new markets

By: Bloomberg     15th June 2017 The world’s biggest mining companies would like you to put more zinc in your zucchini and copper in your socks and dental floss. While builders and manufacturers remain the biggest metals users, producers are confronting the end of a Chinese industrial boom that fueled surging global demand and... 

Guyana Goldstrike reports first sales from Marudi

By: Henry Lazenby     15th June 2017 Guyana Goldstrike has recorded maiden sales of 910 oz of gold, which were mined and recovered by local small-scale alluvial, or artisanal, miners on the company’s Marudi gold project, as part of a corporate social responsibility drive. Through a cooperative agreement, artisanal miners have been... 

Teck to redeem $214m of notes

By: Henry Lazenby     3rd June 2017 Teck Resources announced another round of note redemption to the value of $214-million on Friday, expecting interest expense savings resulting from the redemption of about $10-million a year, on an after-tax basis. The Vancouver-based diversified miner has issued a notice of redemption to redeem,... 

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