A high-grade copper-zinc volcanogenic massive sulphide (VMS) project in British Columbia will now be developed by Desert Star Resources (TSXV:DSR).
Capstone Mining Mining News
The Minto copper mine, located about 240 kilometres northwest of Whitehorse, near Pelly Crossing, shut all open-pit mining operations on Oct. 1, which meant letting go 58 people.
A recent bump in the price of copper has Yukon's only operating mine looking to bring back some laid-off workers.
The Vancouver-based miner blamed low commodity prices for the measure.
A report out by Bloomberg speculates that Mick Davis' X2 Resources $5.6 billion private equity fund is closing in on Canadian target.
Due to "general market conditions".
The Pinto Valley copper mine in Arizona was supposed to stop producing in 2018.
Vancouver-based copper miner sticks to full year guidance ahead of closing of $650 million Pinto Valley acquisition.
Capstone Mining made a dramatic move into the black last year, earning a US$72.6 million profit compared to a loss of $18.3 million in 2009. Revenues grew from $250 million in 2009 to $310 million last year. The Vancouver-based company had US$192.4 million in the bank at the end of the year, up from $118.4 million the year previously.
With Libyans having joined the movement to overturn aging autocracies the Arab street action has moved into a geopolitically more difficult territory. Concern over Libya’s oil exports are showing up as higher crude pricing. Libya’s 1.6 M barrels/day of crude output may well undergo disruptions, but the Saudis could replace that if prices move high enough to cause concern. As troubling is the unpredictability of Muammar Gaddafi and those around him. They seem more likely to go down fighting than the western leaning autocrats have been, and that is more likely to cause splintering of the country and concern similar shifts elsewhere in the region. Markets are reflecting this heightened uncertainty with continued gains for precious metals and US$ as well as oil. We expect the US$ and oil to peak before gold and its cousins do.