July 27, 2012

Baja sued for $260 million in class action. Vancouver co is worth only $18 million, down 93% in 2012

Baja Mining dropped by almost a third on Friday after announcing class action proceedings seeking $260 million in damages for misrepresenting the true state of affairs at its Boleo project…

July 27, 2012

Class action commenced against Baja

Mr. Sue-Tang seeks: a declaration that Baja made misrepresentations contrary to the securities act during, general and special damages in the amount of $250 million, punitive damages in the amount…

July 25, 2012

Teck Resources down 5% after profits more than halve

The diversified miner suffered lower realized prices across the board with copper down 14% to $3.57 a pound, its realized coal price was 26% below Q2 2011 at $202 a…

July 24, 2012

Thundermin commences 2,000 metre diamond drilling program on the Stirling base metal property, Cape Breton Island, Nova Scotia

The 2,000 m drilling program is scheduled to investigate the zinc-lead-copper-silver-gold claims of the 64.6 km² Stirling project on Cape Breton Island, Nova Scotia.

July 21, 2012

No signs of the mining boom ending for Australia any time soon: studies

There is no end on sight to the mining boom in Australia, a country which mineral resources sector value is expected to reach $122.6 billion by 2016, growing at an…

July 20, 2012

SLAM files NI43-101 report on 3M tonne resource

The company's report claims "massive sulphide deposit contains significant zinc-lead-copper-silver resource".

July 20, 2012

Scorpio Mining names Peter Hawley president and CEO

The company announced that it has accepted the resignation of Scorpio's President and Chief Executive Officer, Parviz Farsangi, and unanimously appointed the Company's Chairman and founder Peter J. Hawley as…

July 19, 2012

Silvermet shares drop 26% after shutting down Turkish ops

Silvermet Inc. (TSX-V: SYI) shares dropped 26% on Thursday after the Toronto-based company announced that operations have been halted due to a strike by unionized personnel at the Waelz kiln…

July 13, 2012

Baja Mining only has enough money for Boleo project for two more weeks

The Canadian mining company continues to struggle with cost overruns at its flagship Boleo mine in Mexico, the company has not yet received any funding proposals for the project and…

July 11, 2012

Goldcorp lowers guidance due to drought and production delays

Goldcorp, the world's second-largest gold miner, said expected gold production would drop 8% due to problems at Peñasquito and Red Lake.