Metals, mining and money markets
Spot pricesCourtesy of ScotiabankTuesday, July 2, 2013 Precious MetalsPrice…
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Barrick puts Pascua-Lama on slow track, eyes US$5B writedown, job cuts
When you’re in trouble, by all means keep digging, but just slow down the pace a bit. At least that is the solution Barrick Gold (ABX-T, ABX-N) has devised for its bloated Pascua-Lama gold mine project under construction in Chile and…
Barkerville’s new, much smaller Cow Mountain estimate
VANCOUVER — It took almost a year, but Barkerville Gold Mines (BGM-V) has stepped back — way back — from its claim that the Cow Mountain portion of its Cariboo gold project hosts a huge gold resource, and has the potential to…
Atico completes El Roble resource
When it comes to pedigree in South America’s mining industry, it doesn’t get much better than the storied Ganoza family of Peru, which has owned and operated underground gold, silver and base metal mines in both their homeland and…
Orbite inks offtake deal with Glencore
Orbite Aluminae (ORT-T) has gained another vote of confidence from a major for its innovative technique to produce alumina from its aluminous clay deposit in Quebec, sending its shares soaring.
Commentary: A look at Canada’s strengthened Foreign Anti-Corruption Law
On June 19, 2013, Canada’s Corruption of Foreign Public Officials Act (CFPOA) was amended. New provisions significantly increase penalties for and the scope of individual and corporate liability for bribery of foreign public officials,…
Fortune Minerals gets strategic investment
Procon Resources, a Vancouver-based mining contractor that is majority owned by China CAMC Engineering Co., is making an $11.7 million strategic investment in Fortune Minerals (FT-T) at a price of 40¢ per share — a 14% premium over…
Northern Miner editor-in-chief talks Ring of Fire on CBC Radio
Northern Miner editor-in-chief John Cumming was a guest of Lisa Laco this week on CBC Radio Thunder Bay’s morning program Superior Morning to discuss Cliffs Natural Resources’ decision to put the brakes on work at its Black Thor…
Premier expands Cove’s resource envelope
In the latest batch of results from 20 holes drilled into the Helen Zone at Premier Gold Mines’ (PG-T, PIRGF-O) Cove gold project in northeastern Nevada’s Eureka-Battle Mountain Trend, 19 hit mineralization.
Allana adds major potash tonnage at Danakil
VANCOUVER — Just four months after releasing a feasibility study on its wholly-owned Dallol potash asset in Ethiopia’s northeastern Danakil Depression, Toronto-based junior Allana Potash (AAA-T) has followed up with a new resource…
Golden Star wraps up Prestea feasibility study
Golden Star Resources (GSC-T, GSS-N) is inching closer to reopening the past-producing Prestea underground mine in Ghana, with a feasibility study on its West Reef deposit showing encouraging results.
Lucara’s Karowe diamond mine keeps giving
Lucara Diamond (LUC-T) is one of the few junior diamond producers excelling in the turbulent markets, as it discovers more large stones at its 100%-owned Karowe diamond mine in Botswana, including a 239-carat stone, which recently sold for…