Mining Weekly
Rye Patch buys more haulage trucks for Florida Canyon
Sat, 19 Aug 2017 01:11:00 +0200
Canadian precious metals junior Rye Patch Gold has secured financing to buy four more haul trucks for its Florida Canyon mine, in Nevada. The Vancouver-based company announced on Friday that it will add four Caterpillar 785C haul trucks for a total of $3.67-million dollars, growing the Florida Canyon truck fleet to fifteen.
Geribaldi ramps up exploration effort at Nickel Mountain
Sat, 19 Aug 2017 01:00:00 +0200
TSX-V-listed Garibaldi Resources is stepping up its exploration efforts at its flagship Nickel Mountain base metals project, in northwest British Columbia's prolific Eskay Camp. The Vancouver-based company advised on Friday that crews, including Full Force Drilling based in Peachland, British Columbia, have mobilised to start diamond drilling within the next several days at the historic E&L deposit, the Eskay Camp's only nickel/copper massive sulphide system, nearly 18 km southwest of Eskay Creek.
World copper mine output falls 3% in first 5 months of 2017
Sat, 19 Aug 2017 00:20:00 +0200
Global copper mine output was 3% lower year-on-year during the first five months of 2017, the latest data from the International Copper Study Group (ICSG) showed on Friday. Concentrate production declined by around 2.5% and solvent extraction-electrowinning (SX-EW) declined by around 4.5%.
Freeport-McMoRan redeems five series of senior notes
Fri, 18 Aug 2017 23:53:00 +0200
The world’s largest publicly traded copper producer Freeport-McMoRan (FCX) has announced on Friday the redemption of five series of senior notes with a total value of $543-million. The Phoenix, Arizona-headquartered company advised that it has issued notices to redeem on September 18, two series of FCX senior notes and three series of FCX Oil & Gas (FMOG) senior notes currently outstanding.
Gold futures punch through $1 300 as global stocks extend losses
Fri, 18 Aug 2017 23:35:00 +0200
Gold futures broke above $1 300/oz, rising to the highest level since November, as global stocks dropped and investors fretted that turmoil in the White House will prevent President Donald Trump from delivering on his legislative agenda. Futures for delivery in December advanced as much as 1.1% to $1 306.90/oz on the Comex, and traded at $1 298.20 at 11:23 am in New York. The gain came as a gauge of US stocks declined, and the Bloomberg Dollar Spot Index fell 0.2%.
Chilean economic growth boosted by domestic spending
Fri, 18 Aug 2017 21:42:00 +0200
Chile's gross domestic product grew broadly in line with expectations in the second quarter of 2017, boosted by domestic spending, the central bank said on Friday, although investment continued to lag. GDP grew by 0.7% in the second quarter from the first quarter in seasonally adjusted terms.
Zwane again firm on Charter targets as consistent with radical economic transformation
Fri, 18 Aug 2017 15:01:00 +0200
As government’s plans for radical economic transformation unfold, the mining sector has become the centre of that swirling debate in light of the newly gazetted reviewed and updated Mining Charter. South Africa has been pursing radical economic transformation as the path towards coveted inclusive economic growth, in tandem with fundamental structural and institutional change and shifting patterns of ownership, management and control, to the benefit of all South Africans, particularly the marginalised.
Scotgold submits planning application for revised operations
Fri, 18 Aug 2017 13:29:00 +0200
The Loch Lomond and Trossachs National Park Planning Authority has confirmed receipt and has validated Scotgold’s application for revised operations at the Cononish gold and silver project, in Scotland. The validation defines the start of the statutory determination period, Aim-listed Scotgold said on Friday, adding that it hoped for a decision to be made by December.