Olma to make 'concrete proposal' to First Uranium by weekend

First Uranium shareholder Olma Investments plans to submit a “concrete proposal” to the board of directors by Friday laying out an alternative to the asset sales the gold and uranium producer has announced, head of equities at the wealth...

Coeur doesn't expect big output knock from Mexican stoppage

Coeur d’Alene Mines, the Idaho-based precious metals producer, on Wednesday said it did not believe an illegal strike at its Mexican Palmarejo mine would have a material impact on production. The company shut the mine and mill, which produced...

Seared Canadian Malartic operation returns to full operation

TSX-listed gold producer Osisko Mining on Wednesday reported its Canadian Malartic mill returned to full operation on May 19, following a fire that damaged the No 4 cyclone set ten days ago. Equipment and building damage from the fire is...

LIM kicks off 2012 with first China exports

Toronto-listed Labrador Iron Mines (LIM) shipped its first China-bound load of the steelmaking ingredient for 2012 last week, and is on track to meet its two-million-ton sales target for the year, it said on Tuesday. Its James mine, located in...

Offtake funding negotiations ‘well-advanced’, says HudBay

HudBay Minerals, the Canadian base metals producer, is in “well-advanced” talks to secure around $400-million in project financing for its Peruvian project linked to offtake, a spokesperson said on Tuesday. The company late last week called...

Prefeas gives First Majestic's Del Toro a $147m NPV

First Majestic Silver, in the process of buying peer Silvermex Resources for C$175.4-million, on Tuesday said the measured and indicated resources at its Del Toro mine in Mexico grew 186% to 74.5-million silver equivalent ounces. According to the...

Platmin ‘moves into delivery mode’

Platinum junior Platmin has “moved into delivery mode during 2012” as the company completed the acquisition of Sedibelo West and reported record first-quarter platinum sales, said CEO Tom Dale on Monday. The company, which delisted from the...

HudBay cans $400m notes offering, cites market conditions

Canada’s HudBay Minerals late on Friday said lousy market conditions caused it to call off the $400-million notes offering it had announced earlier in the week. Standard & Poor’s had given the proposed bonds a B rating, saying the TSX-listed...

WMC plans First Uranium bid if shareholders vote down asset sales

South Africa-based Waterpan Mining Company (WMC), along with unnamed investors, aims to bid for a controlling stake in First Uranium if shareholders vote down two proposed deals to sell its main assets at June 13 meetings, director Chopper van der...

International

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Fuel cell makes loco debut, better than asteroid mining, big demand change needed

A platinum-using fuel cell is driving a locomotive in a South African platinum mine; a platinum miner quips about asteroid mining; and current weak platinum demand is seen as hugely problematic.

Russian billionaire Prokhorov files for copper-nickel Toronto IPO

Move over Mark Zuckerberg. Russia’s Mikhail Prokhorov, who Forbes ranks as the 58th richest person globally, has filed a prospectus to list his Intergeo MMC in Toronto, announcing it the day before Facebook goes public.