MINING.COM

Coal mines could surface again on Cape Breton

Surface coal mining on Cape Breton Island, on the East Coast of Canada, has been under a moratorium for the last six years, but a report due out next month could revive a dormant industry in what was once an important coal-mining hub.

Andrew Topf | February 16, 2012 | 1:21 pm

Barrick Gold’s profit growth lower than expected

Barrick Gold Corp. (TSX:ABX), the world’s biggest gold miner, announced that profit slipped in the fourth quarter as the company booked US$153-million in various after-tax charges tied to redundant power assets and its investment portfolio.

Cecilia Jamasmie | February 16, 2012 | 11:41 am

Sundance shares plummet on further takeover delays

Sundance Resources said Thursday approvals for its Mbalam project are only likely to come in 2 months, further delaying a $1.4bn bid by Hanlong.

Mineweb | February 16, 2012 | 7:19 am

Vale profits fall 21% after bending to Chinese steelmakers

Vale is the world's largest producer of iron ore and a top nickel miner, reported a quarterly net profit of $4.67 billion, compared to $5.9 billion in the same quarter last year.

MINING.com Editor | February 16, 2012 | 1:27 am

Despite losses, Kinross hikes dividend by a third

Kinross Gold (TSX:K) lost $2.78 billion in the fourth quarter, having been forced to writedown the value of its Tasiast project in Africa.

Andrew Topf | February 16, 2012 | 12:50 am

The pipeline vs the farm: Keystone XL dealt setback

Could one family farm stop a multi-billion-dollar pipeline project from going ahead? Probably not, but a Texas family farm will at least have its day in court.

Andrew Topf | February 16, 2012 | 12:39 am

Not a pipe dream: Cenovus ships first crude to China, happy to get $40 a barrel more

Cenovus last week shipped 250,000 barrels to China, locking in relationships with refiners there, as the Northern Gateway pipeline project in Northern BC languishes in regulatory review.

Frik Els | February 16, 2012 | 12:38 am

Goldcorp achieves record revenues and cash flow; gold reserves increase for eighth consecutive year

Goldcorp reported fourth quarter gold production of 687,900 ounces at a total cash cost of $261 per ounce, leading to record revenues of $1.5 billion and operating cash flows before working capital changes of $831 million.

CNW Telbec | Mining/Metals | February 15, 2012 | 11:00 pm

First Uranium needs to offload 150,000+ oz yearly gold production by June to stay afloat

Rising costs could make any interested buyer baulk at the idea though. Cash costs in South Africa at its Ezulweni mine has rocketed to $2,143/oz and were up 20% at Mine Waste Solutions although at $613/oz there you could still turn a profit .

Frik Els | February 15, 2012 | 10:00 pm

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