Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Newmont Mining Corp. Mining News
Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.
A U.S. court ruled that the Chaupe family case against Newmont Mining Corporation should be heard in Peru - not Delaware, where the company incorporated almost 100 years ago.
Agnico said it started a strategic review on selling about 2,100 hectares of the Coleman and the South Lorrain cobalt-rich properties in Canada.
Despite seeing gold output decline by 2%, Newmont claimed the title of world’s biggest bullion producer as it surpassed rival Barrick by 16,000 ounces in the first three months of the year.
The government of new Peruvian President Martin Vizcarra said it would not "impose" mining projects on nearby communities that object to them.
"Our priorities right now are to support the families of those who lost loved ones," CEO Gary Goldberg said.
The world’s No.2 gold miner is also planning to boost dividend by at least 50% next year, based on balance sheet improvements and the performance of its gold mines.
Mining companies, including Newmont Mining Corp, Teck Resources and Barrick Gold Corp, reported increased costs this week in their quarterly earnings.
The miner said its all-in sustaining costs to produce an ounce of gold rose $18 to $943 due to higher exploration and project expenses.
Company expects to increase gold production at Tanami by 80,000 ounces annually, reaching between 425,000-475,000 ounces a year.
The Peruvian giant is focusing on extending the working life of the Yanacocha gold mine
Newmont Mining Corporation has appointed experienced miner Alex Bates to lead the company’s business in Australia.
Newmont Mining Corporation today published Beyond the Mine, the Company’s annual report on its progress toward achieving its purpose – to create value and improve lives through sustainable and responsible mining.
A potential expansion would allow South America's largest gold mine generate about 200,000 ounces of the precious metal per year between 2020 and 2025
Newmont Mining Corporation has appointed experienced miner Andrew Woodley to lead the Company’s North America business beginning on January 2, 2017.
Merian gold mine was completed on time and more than $150 million — about 20% — below its initial capital budget.
The complex land dispute between members of the Chaupe family and Yanacocha remains a concern for Newmont, the company said.
Newmont ranked mining industry leader by Dow Jones Sustainability World Index for second year in a row
Newmont was the first gold company named to the index in 2007, and has been included on the DJSI North America Index every year since 2006.
With the sale, Newmont is offloading its Batu Hijau mine, Indonesia’s the second-biggest copper and gold operation.
Company argues a royalty hike would jeopardize the profitability of Australia's two largest gold mines.
The Indonesian government plans to increase export tax on copper concentrates to 35% by January 2015.
Gold sector's situation is about to get worse.
Despite current challenges the analysts expect significant growth in the country's mining industry.
And sales declined 11% to $1.99 billion.