Aluminium
Zinc gains as China cancels export rebates
by Elaine Frei
Base metals prices were mixed Thursday, with most higher on the session in London.
Zinc was $45 higher to $1,915 per tonne, a gain of 6 percent on the day after China announced that export rebates would be cancelled from 1 August, a move that could limit entry of zinc from China into world markets.
Still, London [...]
Allied starts operational activities at Hycroft Mine
by Jo Black
Allied Nevada Gold Corp., a mining company engaged in the evaluation, acquisition, exploration and advancement of gold exploration and development projects in Nevada, begins mining and leaching activities at its Hycroft Mine.
The company is loading ore on existing pads, with new pad construction scheduled for completion in the third quarter of 2008. Construction of a [...]
Silver Wheaton reports earnings of US$23 million
by Jo Black
Silver Wheaton Corp., the largest public mining company with 100% of its operating revenue from silver production, announce net earnings of US$23.3 million (US$0.10 per share) and record operating cash flows of US$35.9 million (US$0.16 per share) for the second quarter of 2008.
The company recorded net earnings of US$23.3 million (US$0.10 per share) from the [...]
Calypso finds uranium at Campesino Norte
by Jo Black
Calypso Uranium Corp., a mineral exploration company whose principal focus is the exploration and development of mineral properties, and is active in Argentina and the United States, announces significant progress at the company’s wholly owned Campesino Norte project located in mining friendly Neuquen Province, Argentina.
The company has completed the initial phase of drilling and [...]
Copper prices up on supply concerns
by Elaine Frei
Copper prices were higher Wednesday on concerns that supplies from Mexico won’t improve in the foreseeable future after Grupo Mexico said that it has not yet set a time for the reopening of Cananea mine, which has been closed for a year due to a strike.
Negotiations have been complicated by the fact that the union’s [...]
Golden Predator provides drilling results from Adelaide
by Jo Black
Golden Predator Mines Inc., a tungsten and gold mining company focused on mineral development in Nevada and surrounding states, has intersected auriferous quartz veins in its first 13 reverse circulation drill holes from its Adelaide gold project in south-eastern Humboldt County, Nevada.
The company said Assay highlights include: 11.2 gm/t over 4.4 feet (1.3 m) [...]
IAMGOLD releases Quimsacocha pre-feasibility study
by Jo Black
IAMGOLD Corporation, the top mid-tier gold producer, with annual production of close to 1 million ounces from eight different operations located in North America, South America and Africa, announces results of the pre-feasibility of its 100% owned Quimsacocha Gold Project located in Ecuador.
The Study was compiled by IAMGOLD Project Development Group, with the collaboration [...]
Silverstar Mining appoints new directors
by Jo Black
Silverstar Mining Corp. has appointed Howard Lahti and Justin L. Rice to its board of directors.
While announcing the appointments, Silverstar CEO Jim MacKenzie, said we are pleased to have two world-class mine-finders join Silverstar’s management team.
Their experience, knowledge and performance in the hard-rock precious metals mining industry will be invaluable to us as we move [...]
Most base, precious metals prices decline
by Elaine Frei
Most metals prices fell Tuesday as the US dollar strengthened, oil prices declined, and there were worries about slow demand for several of the metals.
September copper was down 2 cents to $3.59 per pound in New York while three-month copper in London dropped $50 to $7,945 per tonne even though London Metal Exchange stockpiles remain [...]
Hawk updates on Cortez property
by Jo Black
Hawk Uranium Inc., a Canadian-based junior mining company with a portfolio of diversified exploration projects at various stages of exploration, provides an update on the Cortez property and Stanley Line project.
Hawk says it has obtained a 30-day extension for the next installment payment for its Cortez Property in the Ramsey Lake Area - Elliott Lake [...]
High Ridge revised private placement
by Jo Black
High Ridge Resources Inc., a mining company which is focused on large scale exploration projects in British Columbia and Peru, has revised the terms of a previously announced non-brokered private placement.
The company has announced the non-brokered private placement on July 10, 2008.
The company said that the revised offering will consist of up to 10,000,000 [...]
Intrepid’s inaugural resource confirms multi-million Oz potential
by Jo Black
Intrepid Mines Limited, an international gold and silver production, development and exploration company, announces that the inaugural Inferred Resource has been estimated for Zone C of the Tumpangpitu area of the Tujuh Bukit Project in Indonesia.
Independent Consultants Hellman and Scho-eld Pty Ltd has estimated the resource and reported in accordance with the JORC Code. It [...]
Metals prices up on weaker dollar
by Elaine Frei
Base metals prices were up Monday as the dollar weakened and oil prices rose a bit on more trouble in Nigeria.
After early declines, September copper had added 1 cent to $3.61 per pound in New York at last report, while three-month copper was up $39 to $7,995 per tonne in London on a weaker dollar [...]
Minefinders report delay in production at Dolores
by Jo Black
Minefinders Corporation, a precious metals mining and exploration company, announces that the initial gold and silver pour from its Dolores Mine in Mexico has been delayed from mid-July until later this quarter.
The company said that it is likely that the revised timing for initial gold and silver production may affect previously released production estimates for [...]
Ecu Silver completes private placement
by Jo Black
ECU Silver Mining Inc., a Canadian-based, mid-tier, producing mining company listed on the TSX trading, has closed its previously announced non-brokered private placement for $6 million in principal amount of 12% convertible unsecured debentures maturing on July 31, 2013.
The company has issued the final terms of the Debentures, which include that the Debentures are convertible [...]
Global Copper shareholders approve Teck Cominco transaction
by Jo Black
Teck Cominco Limited, a diversified mining company, headquartered in Vancouver, Canada, has announced that shareholders of Global Copper Corp. have approved the previously announced plan of arrangement under which Teck Cominco will acquire all of the shares of Global.
The principal asset of the Global Copper Corp. is the Relincho copper project in Chile. [...]
Yamana udates on La Pepa, Jeronimo and Amancaya
by Jo Black
Yamana Gold Inc., a leading Canadian-based gold mining company with significant gold and copper production, gold development stage properties, exploration properties and land positions throughout North and South America, announced resource estimates and updates for La Pepa, Jeronimo and Amancaya.
The company has completed its first resource estimate of the Cavancha area of the La [...]
Kinross announces friendly combination with Aurelian
by Jo Black
Kinross Gold Corporation and Aurelian Resources Inc. have approved a business combination by way of a friendly offer by Kinross to acquire 100% of the outstanding common shares of Aurelian. The total value of the offer is approximately $1.2 billion.
The two companies have signed a support agreement pursuant to which Aurelian’s Board of Directors has [...]
Silver Mines provides updated drilling at Webbs Silver Mine Project
by Jo Black
Silver Mines Limited announces assay results received from the recently completed drilling program at the Webbs Silver Mine Project (EL5674).
The company has received high grade silver values as well as broad - up to 8m true width - lower grade zones. The highest individual assay was 2190 g/t silver (70 ounces per tonne silver) [...]
Copper prices down on dollar, demand
by Elaine Frei
The price of copper fell Thursday on a stronger dollar which reduced demand for the metal as an inflation hedge and after imports to China were reported lower last month.
Copper imports to China were said to be down 20 percent in June from May levels as most construction projects ahead of the Olympics have been [...]