Tata Steel buys LIM’s 49% stake in Howse deposit
Tata Steel Minerals Canada (TSMC) acquired a 51% stake in Labrador Iron Mines’ (TSX: LIM) Howse iron ore deposit in Labrador for $30-million cash in 2013.
Asia
SouthGobi Resources loses appeal in Mongolian tax case
In late February Mongolian President Elbegdorj Tsakhia may have pardoned three former employees of SouthGobi Resources (TSX: SGQ) who were convicted in a tax evasion case on Jan. 30, and handed jail sentences of between five and six years, but…
‘Gold not losing its shine yet,’Barclays says
The era of double-digit growth in demand for metals is over, as China’s economy moves from investments in fixed asset growth and industries that are metal-intensive towards domestic consumption and the service sector, Barclays Bank states…
China’s Zijin Mining invests in Ivanhoe
Fresh on the heels of its 2015 Thayer Lindsley award win for discovering the Kamoa copper deposit in the Democratic Republic of the Congo (DRC), Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) has reeled in Zijin Mining as a strategic investor.
Chinese firm Novel to buy stake in SouthGobi
A privately held company in China called Novel Sunrise Investments will become the largest shareholder in SouthGobi Resources (TSX: SGQ; US-OTC: SGQRF; HK: 1878) after it acquires shares from Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ), and…
Buyer emerges for Coalspur Mines
When The Northern Miner visited Coalspur Mines’ (TSX: CPT; ASX: CPL) Vista coal project on the eastern edge of the Rocky Mountains in late 2010, seaborne thermal coal prices were trading at US$120 per tonne.
Contrarian investor Anglo Pacific picks up coal royalty
Anglo Pacific Group (TSX: APY; LSE: APF) is forking over US$60 million in cash and US$5 million in shares for a royalty on Whitehaven Coal’s (US-OTC: WHITF; ASX: WHC) Narrabri thermal coal mine in Australia at a time when the price of…
TSX gains momentum, Feb. 9-13
The Toronto stock market gained on the back of positive economic growth in Europe and better-than-expected data from Canadian manufacturers.
Eldorado falls on Greek opposition, weak outlook
Eldorado Gold (TSX: ELD; NYSE: EGO) shares have plunged after two events: Greece’s new left-wing government’s opposition to the company building a gold mine in the country, and a weaker-than-expected 2015 guidance. Eldorado recently…
Update: Mongolia convicts SouthGobi trio of tax evasion
Three former employees of SouthGobi Resources (TSX: SGQ) including a U.S. citizen are slated to spend the next five years behind bars after a Mongolian court found them guilty of tax evasion.
Mining industry revisits anti-corruption procedures
Mining companies should take note of Canada’s stricter penalties and more aggressive enforcement of anti-corruption laws and make sure their anti-bribery compliance procedures are up to speed, lawyers, forensic accountants and mining…
B2Gold eyes 35% production growth in 2015
B2Gold (TSX: BTO; NYSE-MKT: BTG) expects another record production year in 2015, building upon the solid output it had in 2014.