People living close to the large open pit mine in Quebec’s Abitibi region, want to be compensated for damages related to dust, noise and explosions they claim to have been exposed to for many years.
Yamana Gold Mining News
The 10 largest gold mining companies produce 30% of the world's gold and enjoy some of the sector's fattest margins.
As 2017 gold price rally begins to look shaky, top listed gold producers are being punished disproportionately.
Heavy losses across the board – Barrick down 4.6% in massive volumes and second tier Canadian miners hardest hit.
The strike has not had a significant impact on mine and consolidated production, the company said.
Operations have been halted since Friday, when one of the two unions blocked all access to El Peñón as a way to press management.
The miner plans using proceeds from the exercise of the purchase rights and any direct sales of Brio shares to reduce debt.
Yamana will receive consideration in the form of cash and equity securities, the value of which was $140 million at the time of negotiations.
Gold miners to keep cutting cost, team up amid unusual market conditions that will continue boosting deals, says BMI Research.
The miner said current market conditions are not supportive of a private placement on terms the company would find acceptable.
The sale would be one of the largest of a U.S. gold mine since the price of the precious metal began falling in 2013.
The company's stock is being ripped apart on both, the New York and the Toronto Stock Exchanges as a result.
Yamana Gold (NYSE:AUY, TSX:YRI) will start construction of its Cerro Moro gold-silver project in the southern Argentine province of Santa Cruz, the Toronto-based gold producer announced last week.
Proceeds will be used for debt reduction and "general corporate purposes."
Latin America-focused explorer Samco Gold on Friday announced that it would receive $88.4-million under a participation-and-option agreement, after an Argentinean court-appointed expert arbitrator had quantified damages in the matter between one of Samco’s directors and Northern Orion Resources (GNOR), now named 0805346 BC and owned by Yamana Gold.
The deals that were and those that failed. Here is MINING.com’s shortlist.
The miner became the latest company to spin off non-core, underperforming assets.
Agreement with the government of Catamarca ensures a smooth permitting process for the miner’s 6.5 million ounce Agua Rica Gold project.
Yamana Gold achieves record quarterly production in Q3 of over 390,000 ounces.
Move signifies departure for Vancouver-based miner.
In 2010 at the World Economic Forum, legendary investor George Soros called gold “the ultimate asset bubble.” He failed to mention, however, that his hedge fund had just doubled the size of its position in the yellow metal.
Company seeks smaller deals in Latin America after biggest in its history.
Goldcorp's sweetened offer is straightforward, requires no formal shareholder approval and could be completed by as early as end-April.
Yamana's takes 50% for $930 million and Canada pension plan provides $550 million funding to stave of Goldcorp's hostile bid.
Despite quarterly loss of $584m, the $8.5 billion share is up 23.5% year to date and enjoys a higher valuation than gold miners producing millions of ounces more per year.