Mining industry
European stocks emerged from the summer doldrums, with the FTSE Eurofirst 300 rising 0.2% to 1,091.94, driven by mining sub-index gains and bid talk surrounding Glencore and Eurasian Natural Resources Corporation. Meanwhile, French carmakers Peugeot and Renault had contrasting fortunes, with Citigroup and Credit Suisse producing research
Mining industry
European stocks made headway as bid hopes and broker upgrades helped investors emerge from the summer doldrums. The FTSE Eurofirst 300, which had suffered six consecutive weekly losses, began the new week on a positive note, with its mining sub-index keeping the pan-European benchmark afloat. The gains were led by
Mining industry
Thundermin Resources Inc. and its joint venture partner Cornerstone Resources Inc. have announced the intersection of additional high-grade copper mineralization at the Little Deer Copper Deposit in north-central Newfoundland. The copper mineralization was discovered in five recently completed holes, with assay results indicating a significant increase in copper grades. The
Mining industry
Peruvian presidential candidate Keiko Fujimori has expressed support for implementing a windfall tax on mining companies, suggesting that the tax would be calculated to avoid hurting the country's competitiveness, particularly in comparison to Chile. This stance is in line with her opponent, left-leaning nationalist Ollanta Humala, who has
Mining industry
Anglo American's robust pipeline projects are expected to drive copper production growth to 1.5 million metric tons over the next decade. At the 10th annual CRU World Copper Conference in Santiago, Chile, John MacKenzie, chief executive of Anglo's Copper Division, highlighted the company's
Mining industry
Prophecy Resource Corp. and Pacific Coast Nickel Corp. announced that they have signed a definitive arrangement agreement to sell Prophecy's Wellgreen PGM Ni-Cu and Lynn Lake Nickel projects to PCNC. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (British
Mining industry
Minera Alumbrera, a joint venture company between Xstrata Copper, Goldcorp, and Yamana, has entered into a Letter of Intent (LOI) with Yamana to acquire the Agua Rica copper gold project in Argentina. The transaction, valued at up to US$110 million, will grant Minera Alumbrera an exclusive four-year option to
Mining industry
Mining company Xstrata PLC has announced a letter of intent with Yamana Gold Inc. granting Minera Alumbrera, a joint venture company between Xstrata Copper, Goldcorp, and Yamana, an exclusive four-year option to acquire Yamana's 100% interest in the Agua Rica copper gold project in northwest Argentina. The agreement,
Mining industry
Avrupa Minerals Ltd., a junior exploration and development company, has made significant progress in its exploration projects in Portugal and Kosovo. The company, which has a proven track record of discovering valuable mineral deposits, is actively engaged in aggressive exploration using a prospect generator model. Through its subsidiary, MAEPA, Avrupa
Mining industry
Newmont Mining Corp reported a 76% increase in net income to $2.3 billion or $4.63 per share in 2010, compared to $1.3 billion or $2.66 per share in 2009. The company's attributable gold production reached 5.4 million ounces, with copper production increasing by
Mining industry
Vedanta Resources PLC has reported a significant increase in copper production in Zambia, with a 21% jump in the company's third-quarter output in the country. The improvement was primarily due to enhanced operations at Nchanga, where production at open pits and tailings leach operations rose. This achievement is
Mining industry
Quadra FNX Mining, a copper producer with operations in Canada, the U.S., and Chile, faced a significant decline in stock value after disappointing its investors with a less-than-expected production outlook. The company cited challenges with an acid-leaching process used to separate copper from ore as the primary reason for
