Gold majors lose their shine
The share prices of major gold producers plunged to multi-year lows following actions of the central banks in the U.S. and Japan that pushed down the gold price and clouded producers’ third-quarter results.
Australia, NZ & South Pacific
Lion One moves permitting forward in Fiji
Fiji’s Department of Environment has approved two key permits for Lion One Metals’ (TSXV: LIO) high-grade Tuvatu gold project, 50 km south of Vatukoula, the country’s oldest operating mine.
A growing Mandalay remains Desjardins’ top pick
Mandalay Resources (TSX: MND; US-OTC: MNDJF) has bumped up its full-year production guidance after reporting solid third-quarter numbers.
TSX declines, Sept. 22-26
The S&P/TSX Composite Index lost 238.58 points during the trading week to end at 15,026.77. The S&P/TSX Global Gold Index stayed relatively flat at 170.72 points, while the spot price for gold added US$3.20 per oz. to US$1,219.40. The…
China moves to restrict imports of low-quality coal
A week before the United Nations Climate Summit kicked off in New York, China’s National Development and Reform Commission (NDRC) released a directive on coal stating that the country would restrict imports of low-quality coal in certain…
Drilling prices ‘not sustainable’: Major Drilling
Prices for drilling services have reached levels that are too low to be viable in the long term, said Francis McGuire, president and CEO of Major Drilling Group International (TSX: MDI), in the company’s most recent financial statements…
Rio Tinto’s profits improve as hard-won cost savings take hold
VANCOUVER — Cost cutting by the majors has been a painful necessity over the past few years, and Rio Tinto (NYSE: RIO; LSE: RIO) is no exception. But based on the results from the first half of 2014, the mega-miner’s focus on…
BHP plans spinoff to focus on ‘four pillars’
With a spinoff of its aluminum, manganese, nickel, silver and some of its non-core coal assets, BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) is driving to simplify its portfolio.
Kaizen Discovery to meet Japanese demand for metals
After first listing in December, it’s no surprise that junior Kaizen Discovery (TSXV: KZD; US-OTC: CCNCF) has started out with a strong sense of purpose. After all, Kaizen means “continuous improvement” in Japanese.
Newcrest fined US$1.1M over disclosure
VANCOUVER — Australian gold major Newcrest Mining (ASX: NCM; US-OTC: NCMGF) has received a crystal-clear message from the Australian Securities and Investment Commission (ASIC): fulfill your disclosure requirements, and…
Newmont sells Jundee mine in Australia to Northern Star
VANCOUVER — It’s no secret that Newmont Mining (NYSE: NEM) is looking to monetize its non-core assets, and that process has taken another step with the all-cash sale of the company’s Jundee underground gold mine, 45 km…
The state of global rough diamond supply in 2014
Global production of rough diamonds in 2014 is expected to reach roughly 135 million carats valued at US$17.8 billion, an increase of 3% over last year. The world’s 50 largest…