Market news: TSX Venture Exchange
The S&P/TSX Venture Composite Index started off the new year with a 26.38-point, or 2.2%, gain following four days of trading that culminated in a 1,228.22-point weekly close on Jan. 4.
2013
Market news: U.S. Markets
The benchmark S&P 500 Index reached its highest close since December 2007 during the holiday-shortened trading week, which saw politicians strike a deal to avert the fiscal cliff, while data from the Institute for Supply Management…
Barrick fails to sell African assets to CNG
Barrick Gold (ABX-T, ABX-N) has ended talks with China National Gold regarding the potential sale of its 74% interest in African Barrick Gold (ABG-L), putting off hopes that the major could distance itself from its…
Rising steel production in India to bolster coking coal prices
Talk of coal usually focuses on the thermal variety — the lower-carbon black rock burned in generators to produce electricity — to the neglect of the higher-quality variety used in steelmaking. The focus makes sense: the world…
Consol Energy sells coal assets in Canada
Consol Energy (CNX-N) sold two non-producing coal assets in Western Canada at the end of 2012 for US$127 million, bringing its total asset sales in 2012 to more than US$350 million, the company reported in the new year.
Candente restarts drilling at Caariaco
Candente Copper (DNT-T) has resumed exploration and feasibility drilling this new year on its Canariaco copper-silver-gold project in northern Peru, sending its shares soaring.
Metals, mining and money markets
Spot pricesCourtesy of ScotiabankTuesday, January 8, 2013Precious MetalsPrice…
Angkor Gold cashes in on Cambodia
It has been just over a year since Vancouver-based Angkor Gold (ANK-V) went public with its stable of Cambodian exploration projects, and it is looking like the company’s early mover strategy in the developing Southeast Asian nation might…
Copper Fox falls on Schaft Creek feasibility
After four years of drilling, designing, consulting and number crunching, Copper Fox Metals (CUU-V) has produced a feasibility study for its planned Schaft Creek mine in B.C. that increases throughput by 30% compared to earlier plans, while…
Cline keeps its head above water
Six months after Toronto-based Cline Mining (CMK-T) suspended operations at its wholly owned New Elk metallurgical coal mine outside of Trinidad, Colo., the company is still searching for answers.
Anglo American, Cliffs exit Amapa
Miners shed more non-core assets in the new year to help free-up capital, with Anglo American (AAL-L, AAUKY-Q) and Cliffs Natural Resources (CLF-N) selling their stakes in the Amapa iron ore operation in northern Brazil.
Editorial: Goldcorp adopts ‘all-in’ cost metric
A decade ago gold was worth less than US$300 per oz., and gold producers were desperate to attract investors. One method they developed was to report gold-production costs using a minimalist metric, making their potential for profit seem larger.