Canada Mining News

Claude releases new resource numbers for Amisk gold project

Canadian gold company Claude Resources Inc. has published a resource estimate for its Amisk property, located in northeast Saskatchewan about 20 kilometres from Flin Flon, Manitoba. The independent mineral resources statement shows indicated resources of 30,150 tonnes graded at 0.85 g/t gold and 6.17 g/t silver, and 28,653 tonnes inferred at 0.64 g/t Au and 4.01 g/t silver.

Silvercorp up 4 per cent after positive preliminary assessment

Silvercorp announced on Thursday that it received a positive preliminary assessment for its Silvertip silver-lead-zinc project in northern British Columbia. Silvercorp's stock was up 4% on the TSX on Friday. The report prepared by Golder Associates favoured a small mine and mill operating seasonally at 500 tonne per day or 72,000 tonne per year. "The initial capital cost of the project is estimated to be $US49 million with sustaining capital costs over the remaining mine life (21 years) estimated at $US54.2 million. The payback period is estimated at 4 years for the base case and 2 years for the upside case after reaching commercial production."

Smelter shutdown to cut Vale nickel production 5%

The Brazilian miner said on Friday it will lose 5% of its total nickel production for 2011 as a result of a 16-week shut down of a smelter furnace in Canada Brazilian miner Vale said on Friday it will lose around 5 percent of its total 2011 nickel

Behre Dolbear highlights the best countries for mining investment

“Worldwide, Canada, Australia, Brazil, and Chile will likely remain the best jurisdictions in which to invest in and develop mining projects. Each of these nations will likely continue to see economic growth and mining investment.” This comment comes from a report, 2011 Ranking of Countries for Mining Investment Where ‘Not to Invest’. Most of us will agree with the company’s statement “the mining industry is vital to the creation of wealth and prosperity in any country. Countries that stifle it with detrimental political, economic, financial, and regulatory policies should be challenged to make changes that are more accommodative to its success.”

Payout to Flathead miners is unfair says Association for Mineral Exploration British Columbia

The Association for Mineral Exploration British Columbia said on Wednesday that the agreement to compensate the miners for development work in the Flathead River basin are too low. "AME BC remains appalled by the lack of due process in reaching a timely and fair compensation agreement for the taking of mineral titles in the Flathead", stated Gavin C. Dirom, President & CEO of AME BC in a press release.

Net income rises 57 percent for Barrick Gold

Barrick Gold reported on Thursday that net income in the fourth quarter was up 57% to US$947 million or 95 cents a share, a record result for the world's-largest gold miner. In the same quarter in 2009, Barrick reported US$604 million net income or 61 cents a share. The company produced 1.7 million ounces of gold at a total cash cost of $486 per ounce. Gold production in 2011 is expected to be similar to 2010.

Shear Diamonds signs agreement with Nunavut Resources Corp.

Edmonton-based Shear Diamonds Ltd. has signed a mutual cooperation agreement with Nunavut Resources Corp. for development of the Jericho Diamond Mine in Nunavut, northern Canada. Shear Diamonds, formerly Shear Minerals,  acquired Jericho — Nunavut's first […]

U.S. and Canadian conservation groups to compensate miners for work in southeastern British Columbia

Nature Conservancy Canada and The Nature Conservancy in the U.S. will pay two mining companies $9.4 million as compensation for development work they did in the area around Glacier National Park. Montana Governor Brian Schweitzer […]

B.C.’s Ridley Terminals, Western Coal Corp deliver good news

The recent news that Ridley Terminals Inc (RTI), located near Prince Rupert on Canada’s northwest coast, has signed a new long-term agreement with its largest shipper, Western Coal Corp, comes at an opportune time.

Western Coal sees 'improvement' on Canada rail, port congestion

Vancouver-based Western Coal, which has agreed to a C$3,3-billion takeover by rival Walter Energy, is seeing improvements in the logistics systems it uses to ship coal from its operations in western Canada, COO Neil Winkelmann said […]

Iron-ore junior Alderon sees interest in Canadian project

Mining Weekly reports that iron-ore junior Alderon Resources, which has a project on the Labrador-Quebec border, has already been seeing interest from Asian steel-makers who want to buy a stake in the company.

IAMGOLD reports 16.4 mn ounces of proven and probable gold reserves

IAMGOLD CEO Steve Letwin said the company’s Westwood gold development project in the Abitibi region of Quebec is expected to start production in early 2013.

Rio Tinto to spend US$1.2 billion in Canada, Australia

Australia Business Reviews reports: Rio Tinto’s quest for world domination in the mining industry continues with its latest US$1.2 billion investments in mining projects in Canada and Australia.

IOC to expand iron ore production

Rio Tinto has green-lighted an expansion of the Iron Ore Company of Canada (IOC)  facility in Labrador City, Canada. The second of a three-stage Concentrator Expansion Program was halted in 2008 due to the financial […]

Goldcorp sells Osisko stake for $530 million

Goldcorp announced on Tuesday that it sold its 10.1% equity interest in Osisko Mining Corporation. Expected cash proceeds from the sale will be Can$530 million. According to Goldcorp's news release, the shares were sold on […]

Cameco taps nickel-zinc mine in Finland for more uranium

Cameco announced on Wednesday that it had reached an agreement with the Talvivaara Mining Company Plc. to help process uranium at the Sotkamo nickel-zinc mine in eastern Finland.

TMX, LSE in merger talks: media reports

Two of the world's largest mining bourses are talking about a merger, according to two major newspapers who broke the story on Tuesday. The TMX Group Inc. and the London Stock Exchange PLC plan to […]

Silvercorp's net income up 140% to 29.7 million in Q3

Silvercorp Metals Inc. reported that net income was up 140% to $29.7 million or 18 cents a share. The company released its third quarter results for the period ending December 31, 2010. According to the […]

Teck earnings are up 36% from 2009

Teck Resources Limited announced earnings in 2010 of $1.5 billion or $2.62 a share. Earning were 36% better than the $1.1 billion the company reported in 2009. Fourth quarter earnings were up 76% to $548 […]

Canadian acquisition primes Stewart Group for expansion in metals and minerals analysis

Stewart Group, the international metals and minerals inspection and analysis group, has completed the acquisition of Canada-based G&T Metallurgical Services (GTMET) for an undisclosed sum. Read more

Dumas buys second business in Latin America

Dumas Contracting, a company that has provided contract mining services to many Canadian projects, is growing again with the acquisition ofInternational Specialized Mining Services (ISMS). Read more

Production up and costs down at New Gold

New Gold was up 2.20 percent on the TSE on Wednesday morning after announcing record production and lower cash costs. The mid-sized miner, with properties in the United States, Mexico, Australia, Canada and Chile, said […]

Philippines hoping for a Colombia-like repeat in its mining sector

There are more than a few explorations companies drilling holes in the Philippines these days, all with the quiet hope that the country soon finds favour with serious resource investors in the much the same way that Ventana Gold and others became overnight rock stars, if you will, with their projects in Colombia.

Hunt For Uranium Assets Starts To Get Heated

The global uranium market is dominated by just 10 players – companies that account for 60% of the world’s production of yellow cake. While Canada’s Athabasca Basin remains the hotspot for the highest-graded uranium coming out of the ground, other countries are pushing hard to ramp up their own uranium markets, such as Kazakhstan, Tanzania and Namibia, which is about to finalize its first nuclear policy by the middle of the year.

Nickel Deficits To Be A Growing Concern

Nickel is your quintessential commodity – out of favor last year, in favor this year, meaning market deficits aplenty, with companies scrambling to fill the void left by dormant production during the down years.