EY’s Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 12 percent in the third quarter of the year when compared to the previous three-month period.
Industry sources say automaker interest bodes well for the contracts, but new contracts usually take years to gain traction and a lack of interest from steelmakers could slow the process.
With environmental and indigenous opponents of Tahoe's Escobal mine vowing it will never again produce silver, analysts are expecting the company to post its fifth consecutive quarterly loss on Tuesday.
Bristow, who will be CEO of the merged firm, did not give specifics about what that mediation would involve, but said he would be acting in his capacity as Randgold's chief executive not as the head of Barrick.