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Topic

Investor sentiment contradicting diamond market fundamentals

By: Nadine James     19th April 2019 Lukewarm investor sentiment for natural diamonds seems to contradict the stable demand and favourable supply forecasts for natural diamonds, US-based diamond analyst Paul Zimnisky notes in a statement released last week. He recalls that during the State-owned Russian diamond company Alrosa’s... 

Venezuela unrest may hurt Crystallex bid to reclaim $1.2bn

By: Bloomberg     18th April 2019 Confusion over who’s in charge in Venezuela may keep Crystallex International from collecting a $1.2-billion arbitration award. Crystallex, a bankrupt gold producer, is trying to seize shares of the US unit of Venezuela’s State-owned energy company that controls Citgo Holding . An appellate... 

Sherritt sees no impact as Trump lifts ban on lawsuits against foreign firms in Cuba

By: Reuters     18th April 2019 Canadian miner Sherritt International will not be materially impacted by the Trump administration's decision to allow lawsuits in US courts against foreign firms in Cuba, the Canadian mining firm said on Wednesday. The Trump administration will allow lawsuits in US courts for the first time... 

Waterton launches legal action against Hudbay

By: Creamer Media Reporter      16th April 2019 Toronto-based investment firm Waterton Global Resource Management, which is waging a proxy contest against Hudbay Minerals, has started legal proceedings against the TSX- and NYSE-listed miner in the Ontario Superior Court. According to a statement from Hudbay, Waterton is alleging that the... 

Lundin buys Yamana’s copper mine for more than $1bn

By: Mariaan Webb     15th April 2019 Toronto-headquartered Lundin Mining will buy fellow Canada-based miner Yamana Gold’s Chapada mine, in Brazil, for more than $1-billion, it was announced on Monday. Lundin president and CEO Marie Inkster said that the acquisition of the copper and gold mine complemented the company’s portfolio... 

First Cobalt targets Canada plant restart within 2 years – CEO

By: Reuters     10th April 2019 First Cobalt aims to restart an idled cobalt refinery in Canada within two years and is in talks to supply the battery-grade product to four leading automakers, CEO Trent Mell said on Wednesday. The Toronto-based company is planning a $30-million revamp of the plant, located in the appropriately... 

McEwen exploring potential sale of Mexican assets 

By: Mariaan Webb     10th April 2019 Toronto-headquartered McEwen Mining is considering selling its Mexican assets, which include the El Gallo mine in Sinaloa state. The proceeds of a potential sale would be used to advance development projects and the balance would be used to retire a portion of its debt, the company said in a... 

Goldcorp shareholders approve Newmont’s $10bn takeover bid

By: Bloomberg     5th April 2019 The fate of a $10-billion mega-merger rests with Newmont Mining investors after Goldcorp shareholders overwhelmingly approved what could be the largest deal in gold mining history. Greater than 97% of Goldcorp shareholders voted for the merger at a special meeting in Vancouver, the miner said... 

Battery grade cobalt sulphate produced at Ontario refinery

By: Creamer Media Reporter      4th April 2019 Toronto-based First Cobalt has produced its first battery-grade cobalt sulphate at its refinery in Ontario, which CEO Trent Mell says is the company’s “most significant accomplishment” as the majority of the refined cobalt for the electric vehicle market is produced in Asia. “With no cobalt... 

Canada's diamond miners are on their knees because size matters

By: Bloomberg     4th April 2019 The story of how two prospectors, down to their last nickels, discovered diamonds in Canada’s frozen north is the stuff of legend. Back in 1982, Chuck Fipke and Stewart Blusson laid low in a pup tent by day while their competitor De Beers hauled 45-gallon drums of rock samples to a nearby... 

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