USA

Gold price falls out bed

Frik Els | January 29, 2015
Gold price falls out bed

Gold down nearly 3% as eurozone troubles fade from headlines and focus shifts to US fundamentals, rampant dollar and a likely June rise in interest rates.

Jordan Roy-Byrne – The Daily Gold

Impending US$ peak should be catalyst for gold

Given that Gold is priced in US$ and that Gold has shown strength in real terms, sustained US$ weakness could be a major boon for Gold and precious metals as a whole.

Illinois Basin 2014 coal production stays flat while Alliance expands footprint

SNL Energy | January 30, 2015

Production at the largest active coal mines in the Illinois Basin declined slightly in the fourth quarter of 2014 from the previous quarter, but full-year 2014 production was 4.6% higher than the previous year, reflecting continued strong demand for coal from the region.

Potash Corp. profit jumps 77% on record sales

Cecilia Jamasmie | January 29, 2015
Potash Corp. profit jumps 77% on record sales

The Saskatoon-based miner also hiked its quarterly dividend 9% to 38 cents per share.

Cliffs restructures Bloom Lake iron ore mine, seeks creditor protection

Cecilia Jamasmie | January 27, 2015
Cliffs restructures Bloom Lake iron ore mine, seeks creditor protection

Chief Executive Lourenco Goncalves said restructuring proceedings have begun in Montreal and sale options will be explored.

Lower gas prices weigh on Peabody’s weak results, expected coal demand

Cecilia Jamasmie | January 27, 2015
Lower gas prices weigh on Peabody’s results, expected coal demand

The U.S. No.1 coal producer projects a much wider-than-expected loss for the current quarter.

Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit

Cecilia Jamasmie | January 27, 2015
Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit

The U.S. largest miner by market value and revenue has already slashed its capital budget for the year by $2bn and it is ready to make further cuts.

Commodity prices hit Caterpillar profit — down 25%

Cecilia Jamasmie | January 27, 2015
Commodity prices hit Caterpillar profit — down 25%

CAT keeps slashing costs as it tries to offset issues out of its control, such as the falling price for everything from iron ore to oil.

No recession for Alberta, just ‘zero growth’ as oil price nosedives

Cecilia Jamasmie | January 26, 2015
No recession for Alberta, just ‘zero growth’ as oil price nosedives

According to TD's latest report, real GDP growth in Alberta will inch forward by only 0.5% this year before speeding up to 1.8% in 2016.

Zambia’s new leader to keep polemic mining tax

Cecilia Jamasmie | January 26, 2015
Zambia’s new leader to keep polemic mining tax

Newly elected President Edgar Lungu wants to keep mining royalties at 20%, as opposed to the 6% companies were paying a month ago.

Cliffs Natural removes quarterly dividend to repay debt

Cecilia Jamasmie | January 26, 2015
Cliffs Natural removes quarterly dividend to repay debt

It also said it has reduced its net debt balance by more than $400 million.

GRAPH: Gold price vs bond buys shows limits of QE

Frik Els | January 22, 2015
GRAPH: Gold price vs bond buys shows limits of QE

Don't expect Europe's QE bazooka to lift gold prices much says new report.

Peruvian rare earth discovery richer than initially thought

Cecilia Jamasmie | January 22, 2015
Peruvian rare earth discovery richer than initially thought

Geology consultants leading the project found the rare earth claim has the highest range of rare earth metals in Peru.

Global mining sector ended 2014 on a disappointing note: report

Cecilia Jamasmie | January 21, 2015
Global mining sector ended 2014 on a disappointing note: report

December is a period that sees lower levels of exploration and resource announcements, and last month was every bit as disappointing as expected, an SNL report shows.

Rise and fall: power and gas prices plummet from 5-year highs during frigid start to 2014, as coal prices continue decline

SNL Energy | January 21, 2015

As the polar vortex froze much of the U.S. at the beginning 2014, the period of intense cold created demand, supply and transportations factors that led to the highest prices for power and spot gas seen over the past five years.

Shares in first California Mother Lode mine in 55 years soar 180%

Frik Els | January 20, 2015
Shares in first California Mother Lode mine in 55 years soar 180%

TSX-Venture junior Sutter Gold Mining cannot explain the sudden surge in more than 10-times usual trading volumes.

Tahoe’s Escobal silver mine output at high end of 2014 expectations

Cecilia Jamasmie | January 20, 2015
Tahoe’s Escobal silver mine output at high end of 2014 expectations

The mine generated 20.3 million ounces (moz) of silver contained in concentrates recovered from 1.246 million tonnes of ore at an average grade of 585 grams per tonne (gpt).

Most copper producers in Zambia losing money — Chamber of Mines

Cecilia Jamasmie | January 19, 2015
Most copper producers in Zambia losing money — Chamber of Mines

The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.

Green light for gravel mine near Roosevelt cabin

Frik Els | January 15, 2015
Green light for gravel mine near Roosevelt cabin

Gravel pit won't significantly impact "viewshed and soundscape" from the cabin on the 26th president of the USA's North Dakota's badlands ranch.

These are the top 10 global mining trends for 2015

Cecilia Jamasmie | January 15, 2015
These are the top 10 global mining trends for 2015

Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.

Top 10 copper mines plunge $134 billion in value

Frik Els | January 15, 2015
Top 10 copper mines plunge $134 billion in value

Over just two days the copper price rout has slashed $134 billion off the value of the reserves of the world's largest producers.

Freeport, Glencore lead stocks bloodbath driven by copper collapse

Cecilia Jamasmie | January 14, 2015
Freeport, Glencore lead stocks bloodbath driven by copper collapse

Copper tumbled Wednesday to fresh six-year lows, dipping below $5,500 a tonne. Stocks in miners of the industrial metal are getting hammered.

Oil price debacle likely to drive Alberta into recession: report

Cecilia Jamasmie | January 13, 2015
Oil price debacle likely to drive Alberta into recession: report

According to the Conference Board of Canada, the province faces more than just a slowdown.

Massive Canadian Donkin coal project now property of U.S. miner

Cecilia Jamasmie | January 13, 2015
Massive Canadian Donkin coal project now property of U.S. miner

The project is sitting on one of the largest undeveloped coal deposits in North America,

Alpha Natural Resources president steps down to be CEO of another coal miner

Cecilia Jamasmie | January 13, 2015
Alpha Natural Resources president steps down to be CEO of another coal miner

Paul Vining will become CEO of an affiliate of Cline Group, focused on the acquisition and operation of coal mines outside of the U.S.

Sandvik unveils new mid-range mining crushers

Cecilia Jamasmie | January 13, 2015
Sandvik unveils new mid-range mining crushers

Part of the firm's CH800 series of mining cone crushers, the two models aim to help improve productivity and profitability in the mid-range segment.

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