Mining industry
Placer Dome Inc., a global gold mining company, has released a statement in response to Barrick Gold Corporation's application to the British Columbia Securities Commission to strike down Placer Dome's shareholder rights plan. Placer Dome's President and Chief Executive Officer, Peter Tomsett, stated that
Mining industry
The sale of Citigroup's 14.5% stake in Lihir Gold Ltd. by Anglo-American miner Rio Tinto PLC led to a significant decline in the market value of Lihir Gold. The stock price dropped by 11% to A$2.08, resulting in a market value loss of nearly A$
Mining industry
Major gold players are making strategic moves amidst a $500/oz price level. Rio Tinto has sold its Lihir Gold stake to Citigroup, while North American Palladium names James Excell as president and CEO. Meanwhile, China is emerging as a crucial market for silver, and Harmony Gold sees increasing demand
Mining industry
Placer Dome Inc.'s board is unanimously recommending that shareholders reject Barrick Gold Corp.'s hostile cash-and-stock takeover offer, citing declining production and hedgebook liability at Barrick. This decision comes amid a surge in demand for silver, with antimicrobial efforts driving consumer interest. Meanwhile, Phelps Dodge has been
Mining industry
Barrick Gold Corp. has made a bid to acquire Placer Dome Inc. by offering $20.50 per share, a move that has been met with skepticism by the board of directors at Placer Dome. The board believes that the offer "fails to provide full value for the Placer Dome
Mining industry
Golden Star Resources Ltd., a Jefferson County-based gold producer, is poised to acquire gold exploration company St. Jude Resources Ltd. in a friendly stock swap valued at approximately $75 million. This strategic move will enable Golden Star to strengthen its presence in Ghana, where it already owns two gold mines,
Mining industry
Mineral production has become a significant contributor to Peru's economic growth, with several new mines opening in recent years. In August, the Energy and Mines Ministry reported mixed results, with some minerals seeing significant increases in output, while others showed declines. The government cited production growth at several
Mining industry
Nevada Star Resource Corp. has announced the results of its 2005 exploration program at the MAN Alaska Cu-Au Project, a 725-square-kilometer copper-gold project located in south-central Alaska. The program aimed to better define the geology and controls on mineralization, and to identify potential targets for further exploration. The company has
Mining industry
Fronteer Development Group Inc. has announced the acquisition of two new discovery-stage gold projects, San Pedro and Clara, from Teck Cominco Limited's Mexican subsidiary, Minera Teck Cominco SA de CV. The Projects are located in the western state of Jalisco, approximately 60 kilometres west and southwest of Guadalajara.
Mining industry
The gold market experienced significant volatility in October 2005, driven by a strong US dollar, firmer crude oil prices, and a decline in platinum prices. This article provides a comprehensive overview of the key events and their implications for the gold market. Key Takeaways: * Barrick Gold Corp.'s (ABX)
Mining industry
Global equity markets surged on Monday as a cascade of billion-dollar mergers took center stage. The Dow Jones industrial average jumped 64.27 points or 0.62 percent to 10,467.04 in late-morning trading, while the Nasdaq composite rose 26.96 points or 1.29 percent to 2,116.
Mining industry
Global copper demand is expected to persist due to increasing consumption in Asia, particularly from China, said Steve Whisler, chairman and CEO of Phelps Dodge Corp. However, industry players are facing challenges such as rising input costs and local currency appreciation, leading to cost blowouts at some projects. Copper prices
