Canada Mining News

Finning Canada wins Mt Milligan fleet contract

Finning International has announced that its Canadian division has been selected as the mining equipment supplier by Thompson Creek Metals Co for their Mt Milligan copper-gold project.

New Gold acquires Richfield for $550M

nnounced today. Under the arrangement, Richfield shareholders will receive 0.9217 of a New Gold share for each Richfield share, valued at $10.38. The offer represents a 31% premium to Richfield's share price as of Friday's market close. The deal has been approved by both company's boards.

Finning Canada wins Mt Milligan fleet contract

Finning International has announced that its Canadian division has been selected as the mining equipment supplier by Thompson Creek Metals Co for their Mt Milligan copper-gold project. Read more

Teck announces preliminary settlement at its Elkview operation

Teck announced on Saturday that it had reached a settlement deal with Local 9346 of the United Steelworkers of America to end the strike at the company's Elkview operation. According to a company statement, the parties will recommend the memorandum of settlement to their respective groups. The union ratification vote is scheduled for Thursday, April 7, 2011. If the agreement is ratified, production at the mine could resume by Friday, April 8, 2011.

New exploration technique is similar to human CAT scan

Scientists in British Columbia are researching a new mineral exploration technique that relies on three-dimensional “pictures” of ore deposits. The inventor of the technology, Dr. Doug Bryman, says his research started about five years ago, when he was approached by people in the mining industry who were looking for techniques to find high-density underground ore deposits.

Thompson Creek announces completion of $132 million equipment financing

Thompson Creek Metals completed a $132 million equipment financing facility with Cat Financial Services Limited. Cat Financial has agreed to underwrite up to $132 million in mobile fleet equipment financing for Thompson Creek’s Mt. Milligan copper-gold mine located in British Columbia.

Osisko increases gold reserve at Canadian Malartic to 10.7 million ounces

Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) is pleased to provide an updated reserve and resource estimate for its 100%-owned Canadian Malartic project. This new estimate, calculated at US$1000 gold, combines the previously-reported US$825 reserves and resources of […]

Kinross Gold to invest $1.1bn in Fruta del Norte project to 2016

Canada's Kinross Gold (K.TO: Quote) will invest $1.1 billion in Ecuador's Fruta del Norte gold project until 2016 and could begin digging an underground mine next year, a company executive said on Wednesday.

Grande Cache Coal Corporation announces new handling agreement with Westshore Terminals Limited Partnership

Grande Cache Coal Corporation (TSX:GCE) ("Grande Cache Coal") has reached an agreement with Westshore Terminals Limited Partnership to exclusively handle Grande Cache Coal's annual coal tonnages that it ships through a West Coast port from April 1, 2012 to March 31, 2022. The commercial terms of the agreement are confidential.

Manitoba nickel mine to restart in April

Vancouver-based Crowflight Minerals (TSX: CML) says it will resume operations at its Bucko Lake Mine in April. The company expects to mine 220,000 tonnes of ore in 2011, with the goal of producing about five million pounds of nickel. With nickel trading at $12 a pound, the operation would yield a $20 million cash flow in 2011, Crowflight stated in a news release Wednesday.

Barker Mineral's trenching exposes high-grade silver mineralization on its Black Bear Project

Barker Minerals Ltd. (TSX-V:BML) reported results from the 2,000m trenching program on its silver/gold/lead Black Bear project. The 100% owned project on China Mountain is located 74 km northeast of Williams Lake, in the Cariboo region of British Columbia.

Lundin Mining, Inmet Mining end proposed C$9 billion friendly merger

Lundin Mining and Inmet Mining late Tuesday called it a day regarding their proposed friendly merger with a kindly farewell: "We continue to think very highly of each other's assets and wish each other well."

Victims of gang-rape in Guatemala announce lawsuit against Canadian mining company

Rosa Elbira Coc Ich and ten other indigenous Mayan Q'eqchi' women filed a lawsuit today against Canadian mining companies HMI Nickel, and its corporate owner, HudBay Minerals, regarding mining-related gang-rapes suffered by them near a […]

Equinox bid for Lundin given boost: Financial Post

The bid for a hostile takeover of Lundin Mining by Equinox Minerals was given a boost today by proxy voting firm International Shareholder Services (ISS), The Financial Post reported: Proxy voting firm Institutional Shareholder Services (ISS) is recommending that Equinox Minerals Ltd.’s shareholders vote in favour of the company’s $4.8-billion hostile takeover bid for Lundin Mining Corp.

San Gold Corp says 2011 production to jump 84%

The Canadian gold firm says it also expects significant cost reductions in the coming year as operations get closer to efficiency.

Chidliak Joint Venture approves $17.7 million exploration program

Peregrine Diamonds Ltd. announced that the Chidliak Joint Venture (Peregrine 49% and BHP Billiton 51%) has approved a $17.7 million 2011 exploration program on the 8,580 square kilometre Chidliak project on Baffin Island, Nunavut, Canada. Since 2008, 50 kimberlites have been discovered on the project, with seven of these having characteristics consistent with economic potential in Arctic settings. Peregrine is the operator of the 2011 program and field work has commenced. Image by Peregrine Diamonds

Ottawa fights EU’s dirty fuel label on oil sands: Globe

European Union politicians are preparing to label Canadian oilsands a "dirty fuel," according to a report in the Globe and Mail, which could cause European oil companies to pull back investments in northern Alberta. That is fuelling fears that similar efforts could take place in U.S. states.

Western Copper working with regulators to permit Yukon copper mine

Western Copper (WRN.TO) has begun engineering studies to determine whether it can modify plans that pushed regulators to reject its request for a water use license at its Carmacks copper project in Canada's Yukon Territory. A recent court ruling in the northwestern territory upheld the Yukon Water Board's decision to reject Western Copper's plans, forcing the exploration company to go back to the drawing board.

Silver Quest acquires 80 claims to expand the Boulevard property, Yukon

Silver Quest Resources (TSX-V:SQI) has entered into an agreement with The Yukon Cornelius Syndicate, a staking syndicate whose members are at arm's length to the company, to acquire a 100% interest in 80 quartz mineral claims (YCS Claims) located in the White Gold District, 135 km south of Dawson City, Yukon.

Rambler Metals & Mining Plc: Proposed Placing to Raise GBP 10 Million in Support of Bringing the Ming Copper-Gold Mine Into Production

Rambler Metals and Mining PLC (TSX-V:RAB)(AIM:RMM) said it intends to raise approximately £10 million, before expenses, through a placing of 27,777,778 ordinary shares at 36 pence each (approximately CDN$0.57 per share).

Franco reports major growth in 2010 results, increases dividend 60%

Franco-Nevada forecasts revenue this year to be between US$325 million to $350 million this year, using consensus commodity price assumptions of US$1,400 gold, $1,750 platinum, $575 palladium and $80 oil. However, the company warned its expenses will be significantly higher in the first quarter of the year, as transaction costs associated with the acquisition of Gold Wheaton will be expensed under International Financial Reporting Standards (IFRS).

Inmet says Panama govt. confirms copper-gold project unaffected by law change

Canada's Inmet Mining said a letter from the Panama government confirmed that its copper-gold project will not be affected by the recent repeal of a law that allowed foreign government investment in mines within the Central American country. The law is crucial to Inmet, as the company plans to partner with Singapore's state investor Temasek and with Korea Resources Corp to finance and build its $4.3 billion copper-gold project in the country.

Crocodile Gold closes Can$85 Million bought-deal financing

Crocodile Gold announced today that it closed a Can$85 million bought-deal closing of 81 million units at Can$1.05 per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. The syndicate of underwriters was co-led by GMP Securities L.P. and Cormark Securities Inc.

Harmony shares up 5% on ratings upgrade

Shares in South African gold miner, Harmony Gold, rose just over 5% on the back of a positive investment rating by RBC Shares in Harmony Gold Mining (HARJ.J: Quote) rose by over 5 percent in early trade on Thursday with dealers attributing the rise to an

Kinross sells Harry Winston shares

Kinross Gold Corporation (TSX:K)(NYSE:KGC) announced today that it has sold its approximate 8.5% equity interest in Harry Winston Diamond Corporation ("Harry Winston"), consisting of approximately 7.1 million Harry Winston common shares, on an underwritten block trade basis, for gross proceeds of CDN$100 million. On August 25, 2010, Kinross announced that it had completed the sale of its former 22.5% interest in the partnership holding Harry Winston's 40% interest in the Diavik Diamond Mines joint venture to Harry Winston for US$50 million cash, 7.1 million Harry Winston common shares, and a note payable in the amount of US$70 million maturing 12 months from the date of the sale.