Kumba Iron Ore to cut 490 jobs as rail crisis hits output, shares fall
Kumba Iron Ore shares fell more than 5% on Tuesday after it announced plans to cut about 490 jobs, following a reduction in production as it struggles to overcome South Africa’s persistent rail bottlenecks.
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Atico shares surge on long-term extension for La Plata mining concession in Ecuador
Mining News Pro - Shares of Atico Mining (TSXV: ATY) surged by double-digit percentage points on Thursday after the company obtained a 25-year extension for the mining concession at its La Plata project in Ecuador.
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Aneka Tambang sells shares of subsidiaries to world’s biggest EV battery company
Mining News Pro - Indonesian miner Aneka Tambang has sold shares worth $467.18 million in two of its subsidiaries to a unit of the world’s biggest electric vehicle battery maker, China’s Contemporary Amperex Technology Co (CATL).
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Anglo American’s falling shares fuel takeover rumours
Mining News Pro - Speculation about Anglo American (LON: AAL) becoming the target of a takeover by a rival or a private equity firm keeps mounting, as shares in the diversified miner continue to fall.
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Sigma Lithium shares jump as it posts first quarterly profit
Mining News Pro - Sigma Lithium reported on Wednesday a revenue of $97 million for the third quarter of 2023, marking the company’s first revenue-generating quarter.
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Lynas shares jump as Malaysia allows key plant extension
Mining News Pro - Shares of Lynas Rare Earths hit their highest in over a month on Wednesday, extending gains, after Malaysia allowed the miner to operate its flagship refinery locally with a variation to the operating licence.
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Teck shares are back where they started before Glencore offer
Mining News Pro - Teck Resources has come full circle: After a tumultuous seven months kicked off by an unsolicited takeover offer from Glencore Plc that sent the Canadian firm’s stock soaring, its shares are now back where they began.
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Investors glimpse opportunity in Europe’s unloved mining shares
Mining News Pro - Investors are finally seeing potential in European mining shares, as China’s step-by-step economic stimulus is steadily laying the foundations for a recovery of the unloved sector.
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Champion Iron shares rise after update boosts Bloom Lake resources by 40%
Mining News Pro - An update for Champion Iron‘s Bloom Lake mine in northeast Quebec has increased measured and indicated resources by 40% and inferred resources by 360%, boosting company shares by more than 6% on Wednesday.
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Polymetal plays down scope of sanctions as London-listed shares tank
Mining News Pro - Gold producer Polymetal International PLC sought to play down the impact of US sanctions on its Russian operations as its London-listed shares tanked on Monday, emphasizing that the restrictions did not affect its business outside Russia.
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Pembridge Resources shares collapse on Minto mine halt
Mining News Pro - Pembridge Resources’ shares fell as much as 82% on Monday as it disclosed it was assessing its ability to stay in business after Canada’s Minto Metals, had to halt the namesake mine over the weekend.
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Agnico Eagle shares sink despite posting record gold production in 2022
Mining News Pro - Agnico Eagle Mines delivered solid operating performance in a challenging cost and workforce environment during the fourth quarter and throughout 2022, with payable gold production of nearly 800,000 ounces and 3.14 million ounces in these periods respectively, the company said on Friday.
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Dynasty Gold shares hit new high on best assays to date from Thundercloud property
Mining News Pro - Dynasty Gold has released assay results from its Phase 1 2022 drill campaign at the Thundercloud property located 47 km southeast of Dryden, Ontario. These results are the best ever reported from the project, the company says, constituting the discovery of wide zones and high-grade gold-bearing quartz veins that require further delineation.
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Lake Resources shares dip on another short seller report
Mining News Pro - J Capital says one of Dickson’s first actions was to contact Chinese-based Sunresin to ask if Lake could explore using their DLE technology. “We have confirmed this with multiple sources, including Sunresin,” said J Capital in its report.
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Lundin Gold shares hit 52-week high on new Fruta del Norte drill results
Mining News Pro - The Fruta del Norte deposit is currently estimated to contain an inferred resource of approximately 11.6 million tonnes averaging 5.69 g/t gold, containing 2.13 million ounces of gold.
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Oz Minerals shares halted pending potential control change
Mining News Pro - BHP’s initial offer for Oz Minerals was for A$25 a share. The company’s shares closed at A$26.30 in Sydney on Tuesday.
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Barrick shares tumble as weaker gold production dents profit
Mining News Pro - Toronto-listed shares were down 6.9% to 18.26 Canadian dollars, on track for their biggest one-day drop in two years.
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Condor Gold shares jump on La India test results
Mining News Pro - Shares in Condor Gold jumped on Thursday after unveiling final metallurgical tests results for its flagship La India open pit gold project in Nicaragua, which it said “provide confidence” in recovery rates ahead of a definitive feasibility study.
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Sinkhole drags down Lundin shares as analysts weigh mine impact
Mining News Pro - Lundin Mining Corp. fell the most among copper-mining peers Tuesday after a giant sinkhole opened up above one of its underground mines in Chile, sounding alarms over safety and production.
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Rio Tinto slashes dividend as profits take a hit; shares tumble
Mining News Pro - Rio Tinto reported a 29% drop in first-half profit and more than halved its dividend on Wednesday, as weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages hurt the global miner.
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Wesdome shares fall after missing analysts’ Q2 forecasts
Mining News Pro - Shares of Wesdome Gold Mines fell to their lowest in a year after the company reported a “weak” performance in its second quarter and said that it would be re-evaluating its 2022 guidance.
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Calibre Mining shares jump after another quarter of record gold production
Mining News Pro - Calibre Mining (TSX: CXB) posted another record quarter of production during Q2 2022, recording consolidated gold production of 59,723 ounces, a 37% increase over the same period last year. Gold production from Nicaragua accounted for 48,810 ounces, while its Nevada operations had 10,913 ounces.
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Lake Resources shares hit by short seller’s lithium tech allegations
Mining News Pro - Short seller J Capital Research on Monday alleged that Lake Resources NL’s plan to produce lithium in Argentina is based on a process from Lilac Solutions Inc that likely does not work, the latest attack against a wave of new technologies aiming to produce the electric vehicle battery metal.
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Labrador Gold’s shares gain on best grades cut at Kingsway to date
Mining News Pro - The Toronto-quoted equity of Labrador Gold closed 4% higher on Thursday after reporting the highest-grade intercepts from the flagship Kingsway project in Canada’s Newfoundland province to date.
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Centamin shares jump on potential Sukari gold mine extensions
Mining News Pro - Centamin said on Thursday that exploration around its flagship Sukari gold mine in Egypt has allowed it to identify the potential for a satellite open pit within the concession as well as extensions of the underground orebody.
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