Quest Rare Minerals Ltd. (TSX VENTURE:QRM) is pleased to report that its Board of Directors has approved funding for a pre-feasibility study of the Corporation's Strange Lake B-Zone rare earth element deposit, located in northeastern […]
Canada Mining News
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or "the Company") announced today that it has entered into a support agreement with Equinox Minerals Limited (TSX:EQN)(ASX:EQN)("Equinox") for Barrick to acquire, through an all-cash offer, all of the issued and outstanding common shares of Equinox (including the shares represented by Equinox's CHESS Depositary Interests) by way of a friendly take-over offer (the "Offer"). The Offer is for C$8.15 per Equinox share in cash, or a total of approximately C$7.3 billion. The Offer represents a 30% premium based on Equinox's closing share price on the Toronto Stock Exchange on February 25, 2011 (the last trading day before Equinox announced its intention to make a take-over bid for the common shares of Lundin Mining Corporation).
Drilling beyond the open-pit shell of an already massive gold deposit, Detour Gold is pushing the limits of gold mineralization with new discoveries. Detour Lake keeps getting bigger for Detour Gold (TSX: DGC). Twelve of 20 drillholes collared outside the western extent of its proposed open-pit project in northeastern Ontario — which so far contains proven and probable reserves of 14.9 million ounces gold @ 1.03 g/t gold — hit long gold-mineralized intercepts.
Quadra FNX Mining Ltd (QUX.TO) outlined a resource at its Victoria copper-nickel project in Ontario that is equivalent to about 3.4 billion pounds of contained copper, the company said on Thursday.
With a new loan close to being secured, Trevali may soon join the ranks of bona fide miners, producing at two poly-metallic mines in Peru and New Brunswick.
Vancouver-based Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) reported earnings attributable to its shareholders of $461 million, or $0.78 per share. Adjusted quarterly profit was $450 million, or $0.76 per share, more than double the $198 million reported in the first quarter of 2010. Image by Teck Resources Limited
Hathor Exploration has acquired Terra Ventures in an all-stock deal valued at approximately $24 million. Under the deal announced Monday, Terra shareholders will receive 20 cents of a Hathor common share for each common share held, which represents a 16% premium on Terra's April 15 closing share price of 33 cents.
Capstone Mining will acquire all the issued and outstanding shares of Far West Mining. Total transaction value will be Can$725 million. Capstone released details of the agreement in a press release on Sunday. On Monday morning, Capstone shares (TSE:CS) were down about 7% to $3.93 a share.
Canadian gold miner Anaconda Mining Inc posted a fifth-straight quarterly loss, but expenses were lower from a year-ago levels and production rose sequentially. Net loss for the third quarter was $1.9 million, or 1.5 cents a share, compared with a loss of $2.2 million, or 2.5 cents per share, a year ago.
An $8.5 billion joint venture between Adriana Resources and Wuhan Iron and Steel Co. Ltd. would create the largest iron ore mine in Canada, capable of producing 50 million tonnes of iron ore over 100 years. Nunatsiaq Online reports on a preliminary economic assessment of the project released this week:
Metallurgical coal mining company Grande Cache Coal Corp cut its 2012 coal sales forecast as it expects production to be affected by the challenging mining conditions. The company now sees coal sales volumes of 2.2-2.4 million tonnes, down from the previous forecast of 2.4-2.6 million tonnes.
The extent of a newly discovered high-grade gold zone at Balmoral Resources' Martiniere project in Quebec - not far from Detour Gold's 11 million ounces at Detour Lake - is growing.
St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") is pleased to announce that the Holt Mine has now achieved commercial production after operating for 90 days at an average daily throughput of between 450 to 500 tonnes per day ("tpd"). Operational statistics will be provided in the Company's upcoming scheduled first quarter 2011 earnings release on or about May 6, 2011. The Holt Mine and Mill are located on the eastern portion of the Company's extensive land package in the Timmins Mining District.
The shares in some North American silver miners fell sharply on Thursday after Bolivia's leftist government said it might rescind concessions on four mines in the country run by Glencore International Ltd [GLEN.UL] affiliates and Canada's Pan American Silver Corp (PAA.TO: Quote)(PAAS.O: Quote).
Magma Metals Limited (ASX & TSX: MMW) (“Magma” or the “Company”) is pleased to announce the completion of an A$20 million placement of approximately 71.4 million new fully paid ordinary shares at a price of A$0.28 per share (“Issue Price”) (the “Placement”).
Exploration Orbite VSPA has discovered the presence of high-value byproducts such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit in the Gaspé region of Quebec, all of which offer strong economic potential for the company and for Canada, the company believes.
Osisko Mining (TSX: OSK) poured its first gold at the Canadian Malartic open-pit gold mine in Quebec on Wednesday, April 13, 2011. The act ushered in not only one of Canada's newest miners, but one of its largest, with production at Malartic planned to hit 600,000 ounces gold a year, over a 12-year mine life.
Reuters reports: Canadian gold miner Northgate Minerals Corp expects production at its Young-Davidson mine in Northern Ontario to start in late first quarter of 2012.
A preliminary economic assessment (PEA) of the Big Daddy chromite deposit in northern Ontario is recommending that the project advance to the feasibility stage. The PEA was commissioned by Montreal-based KWG Resources, which owns a 28% interest and a 1% net smelter royalty (NSR) in the deposit, located in the remote James Bay lowlands of northern Ontario. The company also has NSRs on the adjacent Black Thor and Black Label chromite deposits, and has the option to increase its interest in Big Daddy to 30%.
A coal project in northeastern B.C. that is being developed by a Chinese consortium could produce up to 2 million tonnes of met coal annually for the next 30 years, the Globe and Mail reports: A Chinese group is making a $1-billion bet on coal in British Columbia to secure a key raw material for its steel making industry, the latest in a series of moves this year by international companies to stake a claim on Canadian resources.
Update on regulatory approvals for Consolidated Thompson Iron Mines arrangement with Cliffs Natural Resources
Consolidated Thompson Iron Mines announced that Cliffs Natural Resources has received approval under the Investment Canada Act for completion of the plan of arrangement pursuant to which Cliffs will acquire all the outstanding common shares of CLM. The closing of the Arrangement remains subject to certain other customary conditions, including obtaining approval of the MOFCOM filing with the Anti-Monopoly Bureau of the Ministry of Commerce of the People's Republic of China.
Maudore Minerals Ltd. (TSX-V:MAO) reported the highest drilling intercept ever obtained on the Comtois property, along with several other new high-grade gold assays and more broad near surface intervals from ongoing exploration and definition drilling on the property, located north of Val-d’Or, Quebec, Canada.
Allana Potash continues to intersect high grade potash at shallow depths with 47.81 percent KCL over one metre
Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-11-13 intersected significant potash mineralization including one metre of 47.81% KCl. Hole DK-11-13 intersected two robust potash zones which appear to correlate with the Sylvinite Zone and Kainitite Zone. The Sylvinite Zone returned 2.8 metres of sylvinite which graded 45.86 % KCl and includes a one metre interval that returned 47.81% KCl. Further down the hole, 8.7 metres of kainitite was intersected which returned 22.91% KCl.
Orbite identifies rare earth elements in its Grande-Valee deposit, further enhancing its offering to the aluminum and high-technology industries
Exploration Orbite (TSX VENTURE:ORT.A) is pleased to announce the presence of high-value by-products such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit, all of which offer strong economic potential for the company and for Canada. The Company is also pleased to announce its filing of a provisional U.S. patent application that extends protection for its existing patented technology to the extraction of scandium, gallium and other rare earth elements from aluminous clay.
Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Elkview operation in southeast British Columbia have ratified a new five-year agreement, replacing an agreement which expired on October 31, 2010. Production at the mine will resume effective Friday, April 8 following a temporary suspension due to strike action taken by Local 9346 of the United Steelworkers of America on January 30, 2011.