News

Xstrata (XSRAF-O, XTA-L) has shocked the town of Timmins, Ont., with its decision to permanently close its copper and zinc metallurgical plants, cutting 670 direct positions in the process.

Gold-focused royalty company Franco-Nevada (FNV-T) is planning a $640-million cash bid for its smaller peer, International Royalty (IRC-T, ROY-X).

VANCOUVER — Privately held Argonaut Gold has closed a brokered private placement meant to fund its proposed takeover of Castle Gold (CSG-V).

VANCOUVER — Starting but 18 metres down-hole, joint-venture partners Coeur d’Alene Mines (CDM-T, CDE-N) and Mirasol Resources (MRZ-V) hit 25 metres grading 1,164 grams silver per tonne and 0.21 gram …

Adriana Resources — Chairman Michael Beley resigned; CFO and director Richard Barclay resigned; Norman Calder appointed CFO; Anthony Patriarco appointed interim chairman; Colin Benner appointed a dir…

A day after Cliffs Natural Resources (CLF-N) announced its initial takeover bid for Freewest Resources Canada (FWR-V) and its chromium assets in the Ring of Fire, drill results from Probe Mines’ (PRB-…

COURTESY OF SCOTIABANK

VANCOUVER — Terra Ventures (TAS-V) wants to divvy up its property interests into two companies. Arguing it isn’t getting value for assets beyond its 10% production carried interest on Hathor Explorat…

Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, December 7, 2009 (change from Dec. 1 in brackets):

Antimony: Mid-mkt US$6,050/t.

Riding high in recent years on the back of new gold projects in the region, the Ontario mining town of Timmins was given a body blow in early November as Xstrata announced it will close the Kidd metal…

Ontario and British Columbia will be harmonizing their provincial retail sales taxes with the federal goods and services tax (GST) on July 1, 2010. That means that both of these provinces will abandon…