Editorial: Layoffs pile up across the industry

The last couple of months have seen deep rounds of layoffs in the mining industry, as companies worldwide struggle to cope with low commodity prices, a resurgent U.S. dollar and thin financings.

A truck at Teck Resources' Fording River metallurgical coal mine in southeastern British Columbia. Credit: Teck Resources

Teck cuts jobs, dividend

Diversified miner Teck Resources (TSX: TCK.B; NYSE: TCK) is slashing jobs and lowering its dividend to protect its liquidity amid the commodity price collapse.

TSX climbs higher, Oct. 19-22

The Toronto stock market ended higher as investors took in prime minister-designate Justin Trudeau’s majority win in the federal election. Canada’s new prime minister promises to invest heavily in infrastructure, among other areas,…

Amerigo secures new resource in old tailings

Amerigo Resources (TSX: ARG; US-OTC: ARREF) hasn’t lost much time since it cut a deal with Codelco in April 2014 to treat a new source of tailings from the miner’s El Teniente mine — the world’s largest underground…

Wood Mackenzie goes long on met coal

Joe Aldina, principal research analyst for metal and energy consultant Wood Mackenzie, says that supply for metallurgical coal should level with demand by 2023, and although he expects met coal prices will rise, global producers “are not…

Largo Resources' Maracas vanadium mine in Brazil, where Anglo Pacific Group holds a 2% net smelter return royalty.  Source: Largo Resources'

Anglo Pacific has ‘turned the corner,’ CEO says

For Anglo Pacific Group (TSX: APY; LSE: APF), royalty income in the first half surpassed all of the royalty income earned last year. And while the company posted an after-tax loss for the six months ended June 30, it was a much smaller one than…

US stocks fall, Aug.17-21

U.S. equities tumbled as investors took in new data signaling a slowdown in China and a report that showed an unexpected rise in U.S. crude stockpiles, fuelling concerns of a global oil surplus. The S&P 500 Index and the Dow Jones…