Mining industry
Chilean copper mine Escondida, the world's largest privately held copper supplier, is exploring the possibility of producing molybdenum, a rare and valuable metal, after record-setting prices reached $32 per pound on international markets. Escondida's vice president of operations, Marcelo Villouta, revealed that the mine's
Mining industry
South Pacific Minerals Corp. is pleased to report that grid-based soil sample assays have defined large, porphyry related, coincident copper and gold anomalies at the Oomargi Prospect, approximately 7km northwest of the Kodu Deposit. The company plans to assess the potential for economic mineralization by drilling two scout holes, located
Mining industry
A significant discovery has been made at the Laguerre-Knutson gold property in Ontario, Canada, operated by Globex Mining Enterprises Inc. A 2.214 mg macrodiamond, measuring 0.011 carats and described as a white, translucent fragment with graphite inclusions, was recovered from a 24 kg rock sample. This find is
Mining industry
Investor Jack Adamo, editor of the Insiders PLUS newsletter, witnessed his portfolio increase despite a decline in the energy sector. His current holdings include Barrick Gold Corp., BHP Billiton Ltd., Devon Energy, and Bunge Ltd. Adamo notes that Barrick Gold Corp. is a recent addition to his portfolio, which has
Mining industry
Placer Dome's partners, Bema Gold and Arizona Star Resource, have expressed disagreement with the company's assessment that the Cerro Casale gold-copper project in Chile is not financially viable. The partners, holding 24% and 25% stakes in the project respectively, claim that the project can be financed
Mining industry
Chilean copper mine Dona Ines de Collahuasi's production is expected to reach 440,000 metric tons this year, down from its original estimate of 480,000 tons. This development comes as a significant copper producer, Placer Dome Inc., is reassessing its plans for the Cerro Casale copper and
Mining industry
Shares of Venezuelan mining companies have bounced back from recent setbacks, while Australia's Reserve Bank sells off its gold coin holdings as prices surge. The gold market remains volatile, driven by a weak US dollar and rising gold prices. Meanwhile, Russian mining company Sovrudnik secures licenses to develop
Mining industry
King's Bay Gold Corporation, a Canadian mineral exploration company, has announced a significant development in its strategy to expand its portfolio of precious metal prospects. The company has signed a Letter of Intent with Goldcorp Inc., a global gold mining company, to acquire a 50% interest in Goldcorp&
Mining industry
Global commodities are expected to continue their growth trajectory as an asset class, driven by increasing demand and tight supplies, according to experts. The market has seen a surge in prices, with copper, aluminum, and nickel emerging as key players. However, industry insiders warn that prices may ease in the
Mining industry
BHP Billiton is set to announce its annual profit, which is expected to shatter Australian corporate records, with analysts predicting a net profit of about $US6.3 billion ($A8.35 billion), approximately 70% higher than the previous year. The market is more interested in the company's outlook for
Mining industry
The global copper market is witnessing significant events, including a prolonged strike at Asarco Inc.'s copper operations, a merger between Falconbridge and Xstrata, and regulatory developments in the United States. The Dow Jones Commodities News has reported that the union representing 1,500 striking workers at Asarco has
Mining industry
Xstrata PLC, an Anglo-Swiss mining group, may increase its stake in Canada's Falconbridge Ltd., according to Chief Executive Mick Davis. The potential move could see Xstrata become the world's fourth-largest copper producer, surpassing its current ninth-place ranking. Falconbridge's copper production is expected to reach
