Freeport-McMoRan on a broad cost-cutting spree
VANCOUVER — Freeport-McMoRan (NYSE: FCX) has been carrying out business-wide spending cuts that it calls an “aggressive response” to weak market conditions.
Copper
TSX ends up higher, Aug. 24-28
The Toronto Stock Exchange finished in positive territory as investors took in higher oil prices and news that the Chinese government cut interest rates again to bolster its slowing economy. The S&P/TSX Composite climbed for four…
Sierra Metals turns up the heat in Mexico
In July, Sierra Metals (TSX: SMT) appointed as its vice-president of exploration Matthew Wunder — a geologist who during his career was part of a group at Rubicon Minerals (TSX: RMX; NYSE-MKT: RBY) that discovered and developed the…
Arena attracts JOGMEC, B2Gold
Since the beginning of the year, prospect-generator Arena Minerals (TSXV: AN) — whose shares traded at only 17¢ at press time — has enticed two heavyweight players in the mining industry to sign option agreements on parts…
Anglo American sells Mantos Blancos and Mantoverde mines
A year after selling its 50% interest in U.K. building materials group Lafarge Tarmac for US$1.6 billion, Anglo American (US-OTC: AAUKY; LSE: AAL) has reached a deal to unload two of its smaller Chilean copper mines to a consortium led by…
Eldorado Gold halts Greek ops as ministry revokes technical study
Haywood Securities analyst Kerry Smith says Greece’s energy minister Panos Skourletis was on a “fishing expedition” when he revoked the technical studies on Eldorado Gold’s (TSX: ELD; NYSE: EGO) Skouries and Olympias…
TSX posts marginal dip, Aug. 10-14
The surprise devaluation of China’s currency on Aug. 11 pulled many base metal prices lower on fears that demand from the world’s largest buyer of metals would fall. The price of safe-haven gold, by contrast, rose 1.8% to finish at…
Friedland: Mining companies ‘priced for Armageddon’
VANCOUVER — Vanguard executive chairman of Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) Robert Friedland took to the stage at the Sprott Natural Resource Symposium in Vancouver in late July, and delivered a talk about why he believes copper…
Vale green-lights underground mine at Voisey’s Bay
The natural resources industry of Newfoundland and Labrador — beaten down as it is by the steep decline in iron ore and oil prices — has received a most welcome board-level confirmation from Vale that it will indeed pursue…
Suppliers news: Thiess signs contract in Chile
Queensland, Australia-based contract miner Thiess has landed a A$137-million contract for work at Antofagasta’s Encuentro Oxides open-pit copper project under development in Chile.
Facts ‘n’ figures – Potash bid tops Q2 M&A activity: KPMG report
The following is an edited excerpt from KPMG’s Mining M&A Quarterly Newsletter. For more information and to see the full report visit www.kpmg.com
US markets slide, July 27-31
Expectations that the Fed would raise interest rates in September — along with economic turmoil in Asia and Europe — weighed on U.S. markets over the trading period.