Anglo American sells assets to China Moly for US$1.5B
One of China’s largest molybdenum and tungsten concentrates producers is buying Anglo American’s (US-OTC: AAUKF; LSE: AAL) phosphate and niobium businesses in Brazil for US$1.5…
Anglo American plc
Cutifani strives for ‘new’ Anglo American after tough 2015
In a video message to shareholders, Anglo American (US-OTC: AAUK; LSE: AAL) CEO Mark Cutifani said the company will dispose of an additional US$3-$4 billion in assets this year after posting a net loss of US$5.5 billion in 2015.
Optimism remains for investment in Northwest Territories
VANCOUVER — The Northwest Territories, which has led Canada in diamond and tungsten production, became a single-commodity producer in late 2015 after North American Tungsten (CVE: NTC) closed its Cantung Mine, 300 km from Watson Lake,…
Anglo American’s radical rethink
VANCOUVER — Anglo American (US-OTC: AAUKY; LSE: AAL) intends to shrink the number of its employees by 63%, suspend its dividend, and close, sell or mothball its cash-flow negative assets to adapt to deteriorating market conditions.
Major miners fuel a rising demand for streaming deals
VANCOUVER — As traditional forms of equity and debt finance become harder to obtain for mining companies, there’s been a rise in stream agreements, which offer miners access to cash for a percent of future by-product metal…
Editorial: ‘Tis the season for dividend cuts
As we all know, mining is a cyclical business, and by all appearances we are into the stage of the commodities cycle where many of the biggest, highest-quality major mining companies, especially base metal miners, are trimming and even…
Is mining innovation an oxymoron?
Newspapers are replete with articles denouncing the dearth of innovation in the mining sector. While we may argue about the causes – the sector’s capital intensive nature, the people who work in mining, etc. — most people will…
Big changes at De Beers Canada
In a plan that is expected to be complete by the end of next June, De Beers Canada is moving its headquarters to Calgary from…
Sibanye Gold dives headlong into platinum
In less than a month, South African miner Sibanye Gold (NYSE: SBGL) has announced two acquisitions that will make it a big player in the platinum market, and the fifth-largest PGM producer in the world.
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…
Focus Ventures keeps busy at Bayovar 12 in Peru
Focus Ventures (TSXV: FCV) has made progress in a short time at its Bayovar 12 phosphate project in northern Peru — but it wasn’t always focused on phosphate.
Miners recover from heavy rainfall in the Atacama
VANCOUVER — Recent torrential rainfall in the Atacama desert in northern Chile has affected global copper markets. The prolific region hosts major mines, and the recent weather has triggered operational closures that have driven prices…