MINING.COM

First Majestic pays $175 million for Silvermex Resources

Mexican silver miner, First Majestic, announced a friendly acquisition of Silvermex Resources for Can$175 million.

Michael Allan McCrae | April 3, 2012 | 6:09 pm

Australian miners face explosions, acid sprays, gassings

Acid sprays, gassings, venomous snakes, and lightning strikes are just some of the risks faced by Queensland miners atop the threat of mine collapse and violent explosions.

Australian Mining | April 3, 2012 | 3:37 pm

Royal Bank of Canada sued for ‘wash trading’

The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Canada's Royal Bank (TSX:RY) yesterday, saying it engaged in hundreds of millions of dollars in sham futures trades to reap tax benefits on its holdings of company stocks.

Cecilia Jamasmie | April 3, 2012 | 2:49 pm

Why are Rio and BHP killing off their diamond divisions when demand is forecast to double by 2020?

The profit margin for diamonds is a far cry from 70% enjoyed by the mining giants' iron ore divisions.

Frik Els | April 3, 2012 | 2:21 pm

Barrick Gold’s Porgera mine resumes operations

Operations at Barrick's Porgera open pit gold mine, in Papua New Guinea, resumed this morning after the government decided to send troops to the site last week, under a troop call-out order from 2009 still in effect.

Cecilia Jamasmie | April 3, 2012 | 2:09 pm

African Barrick Gold hikes Tanzanian Nyanzaga resource

London-listed African Barrick Gold (LON:ABG) reported increasing confidence in its Nyanzaga project, in Tanzania and said that the project has the potential to become its next mine in the country.

Cecilia Jamasmie | April 3, 2012 | 1:36 pm

HudBay says Constancia copper mine will cost $1.5 billion

Canadian base-metals miner Hudbay Minerals (TSX:HBM)(NYSE:HBM), rose the capital cost estimated of its giant Constancia copper project in Peru by about 50% to $1.5 billion, mentioning both scope changes and inflation as reasons.

Cecilia Jamasmie | April 3, 2012 | 12:52 pm