Two workers died after they were hit by waste debris being removed from Brazilian miner Vale's (VALE5.SA) Stobie underground copper-nickel mine in Sudbury, Ontario, officials said on Thursday. The employees were working in a shaft about 1,000 metres below the surface on Wednesday evening when the accident occurred, and were dead when rescuers reached the scene, the company said.
Copper Mining News
Bloomberg reports that copper fell to a one-week low. The market news is quoted as saying: Copper futures for July delivery declined 2.4 cents, or 0.6 percent, to $4.0845 a pound at 9:58 a.m. on the Comex in New York.
Stock markets may be suffering through a bear market, but that is no reason to stop investing in junior mining companies, according to newsletter writer Lawrence Roulston, speaking at this year's Cambridge House investor conference held Sunday and Monday in Vancouver.
Anvil Mining Ltd posted a quarterly profit, helped by higher realized copper prices. The Democratic Republic of Congo-focused copper miner expects 2011 output to be 36,000-38,000 tonnes and set an exploration budget of $10 million for the year.
Reuters reports that half of contractors in a strike at Chile's El Teniente mine have ended their strike. The market news is quoted as saying: Mine owner Codelco [CODEL.UL] expects to lift output to 51 percent capacity on Thursday after the world's top underground operation slowed production to 40 percent capacity over the weekend to protect staff workers amid escalating violence by protesters.
Taseko Mines announces first quarter earnings of $5.7 million, or $0.03 per share. Adjusted earnings1 were $10.8 million, or $0.06 per share, a 48% increase over the $7.3 million reported in the first quarter of 2010.
Capella Resources Ltd. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) is pleased to announce that it has discovered two new mineralization zones at its Lajitas gold-copper project in northern Chile as a result of the recently completed airborne hyperspectral imaging survey by SpecTIR LLC of Reno, Nevada.
No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract. We […]
Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies. He argues that it was perhaps inevitable that […]
On Wednesday the Vancouver Sun released its list of the highest paid executives in B.C. with several miners making it to the top five: And the No. 2 name on the list, Robert Quartermain, CEO […]
Australian gold-copper resources company, Mutiny Gold Ltd (ASX:MYG) ("Mutiny" or the "Company"), is pleased to announce that its initial RC drilling program of drilling on the Deflector extension zones in the South Murchison Region of Western Australia has been successfully completed. This program, which totaled 40 RC holes for approximately 3609 metres, added a further southern extension of 60m to the Deflector deposit to increase the total strike length to at least 800m.
Taseko Mines is inviting public discussion on its revised plan for developing a controversial gold-copper mine in British Columbia. Information on the project and a commentary section are found at http://www.newprosperityproject.ca. Taseko announced in February it is taking another run at Prosperity after the federal government rejected it last fall. Under the revisions, the company plans to spend another $300 million, pushing the project's capex to $1.1 billion. Image by Taseko Mines Ltd.
Proposed Marathon Platinum Group Metals and Copper Mine Project in Ontario: Availability of $150,000 to Support Participation in the Environmental Assessment-Phase II
The Canadian Environmental Assessment Agency the Agency is making available $150,000 under its Participant Funding Program to assist groups and individuals to participate in the environmental assessment process of the proposed Marathon Platinum Group Metals and Copper Mine Project in Ontario.
The top 40 global mining companies are poised to break through the US$1 trillion asset mark this year, due to record levels of cash, property and equipment on balance sheets, says a new PwC report. In their report Mine 2011: The game has changed, PwC called the financial results of the top 40 "spectacular" as total revenues increased 32% to US$435 billion, breaking the $400 billion mark for the first time.
Alcoa Inc. (AA.N) Chief Executive Klaus Kleinfeld said on Tuesday that no one is happier to see copper prices climbing than he is, because that meant substitutions into aluminum would increase. Speaking at The Aluminum […]
Chieftain Metals has initiated an important step in its 2011 operations plan by transporting heavy machinery and equipment via barge to the Tulsequah Chief mine site in north-western British Columbia.
Barrick Gold is suing Goldcorp over the El Morro copper mine in Chile, the Globe and Mail reported yesterday. According to the newspaper: Toronto-based Barrick Gold Corp., (ABX-T44.24-0.39-0.87%) the world’s largest gold producer, is fighting Goldcorp Inc. (G-T46.82-0.59-1.24%)after the Vancouver company scooped up a majority stake in the El Morro development, one of the largest known copper and gold deposits in South America. Barrick alleges Goldcorp’s deal to buy Swiss miner Xstrata PLC’s 70-per-cent stake in El Morro was done illegally and is suing both parties, along with New Gold Inc., (NGD-T9.09-0.06-0.66%) which has a 30-per-cent stake in the project.
Toronto and London listed exploration and development company EMED Mining said on Tuesday it found significant potential new copper deposits near its Cerro Colorado open pit operations in Spain (pictured), sending its shares up over 5% in afternoon trade. In May the Cyprus-based company announced Andalucia, one of Spain's autonomous regions, gave approval for the plans to restart its flagship Rio Tinto copper mine, which was placed on care and maintenance in 2000. Production is scheduled to start in 2012 following further approvals.
The Canadian Press reports a group of shareholders in copper, nickel and platinum junior miner Ursa Major Minerals is looking to gather support for a bid to oust the company's board over the underperformance of its stock on the Toronto Stock Exchange. Merchant bank Forbes & Manhattan Inc. and Inspiration Mining Corp., which is Ursa Major's largest shareholder, said Tuesday they have filed a dissident proxy circular seeking backers for a move to elect new directors at an annual meeting June 23. Ursa Major was trading up 7.4% on the TSX by mid-day Tuesday.
Teck Resources announced today that the mine and mill at its Carmen de Andacollo copper operation in Chile was idled on the morning of June 6th due to unusually heavy rain. The mine and mill are expected to be restarted on June 7th. Production loss due to the interruption is expected to be minimal.
Mercator Minerals is pleased to announce that that for the first two months of Q2 2011, the Company produced 7,538,130 pounds of copper and 1,128,674 pounds of molybdenum at its wholly owned Mineral Park mine in Arizona, as compared to total Q2 2011 production guidance for the months of April to June, given on March 8, 2011 of 10,163,548 pounds of copper and 1,033,558 pounds of molybdenum, representing 74% of the guided quarterly copper production and 109% of the guided quarterly molybdenum production during a period of two months of a three month quarter, with a full month of production to come.
Former military leader Ollanta Humala, who 11 years ago tried to overthrow then-President Alberto Fujimori, has officially defeated Fujimori's daughter Keiko for the presidency of Peru much to the consternation of Peruvian mining investors. The […]
Profit margins for the world's top 40 mining companies are below the historical peaks of 2006 and 2007 as higher costs outweigh record commodity prices, PricewaterhouseCoopers said on Tuesday. Revenues for the world's 40 largest […]
The world's fifth largest copper mine, Chile's El Teniente, worked at less than half of capacity on Monday as most workers stayed home for a third day to avoid violence by striking contractors, owner state […]
Wesgold Minerals has struck an option agreement with a polymetallic property in Colombia. According to Canadian Press, Wesgold has acquired an option to buy up to 51 percent of a property that hosts iron-oxide-copper-gold deposits: The Vancouver-based junior miner says it bought the option for an initial 11 per cent interest in the property, known as the Cordoba Property, from Minatura International LLC for a total cash cost of $4 million. The property consists of a mining concession contract and several mining claims covering 25,790 hectares, about 200 kilometres north of Medellin.