Burkina Faso killing highlights increasing security threat for mining companies

Burkina Faso killing highlights increasing security threat for mining companies
TORONTO — The killing of a Canadian mining company executive in Burkina Faso is drawing attention to the deteriorating security situation in the country and the risks resource firms face in unstable regions. Kirk Woodman, who was working for Vancouver-based Progress Minerals Inc., was found dead after being kidnapped from a company exploration camp in the country Tuesday. The incident, while rare, comes as threats from... Read More

Aben Resources Uncovers High-Grade Gold at the Justin Project Lost Ace Zone, Yukon Territory

Aben Resources Uncovers High-Grade Gold at the Justin Project Lost Ace Zone, Yukon Territory
VANCOUVER – Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) has provided a summary of exploration results from the 2018 exploration program on their 100% owned Justin Gold Project in the Yukon Territory. Work completed in 2018 included the collection of 19 channel and 28 chip samples from 5 trenches, 16 rock samples, 7 till samples and 240 soil samples with coverage totaling 6.0... Read More

Newmont Mining to buy Goldcorp to create one of world’s biggest gold producers

Newmont Mining to buy Goldcorp to create one of world’s biggest gold producers
VANCOUVER — Denver-based Newmont Mining Corp. and Goldcorp Inc. of Vancouver have agreed to combine their gold companies in a deal worth about US$10 billion. The companies announced today that Newmont will exchange 0.328 of a share and two cents for each of Goldcorp’s outstanding common shares. The deal has the unanimous support of the directors of both companies but requires... Read More

New Gold shares climb on Q4 operating results that met revised guidance

New Gold shares climb on Q4 operating results that met revised guidance
TORONTO — Shares of New Gold Inc. climbed more than 10 per cent in early trading after the company reported improved fourth-quarter performance at its troubled Rainy River mine. The Toronto-based company says gold production at its Rainy River mine in Ontario surged 39 per cent in the fourth quarter to 77,202 ounces while production was fairly steady at its New Afton mine in British... Read More

TSX starts the trading year higher as energy sector helped by increased oil price

TSX starts the trading year higher as energy sector helped by increased oil price
TORONTO — Canada’s main stock index started the trading year higher in a volatile day that saw the key energy sector get a boost from higher oil prices. The S&P/TSX composite index closed up 24.30 points at 14,347.16. In New York, the Dow Jones industrial average ended the day up 18.78 points at 23,346.24. The S&P 500 index was up 3.18 points at... Read More

Chinese company Zijin Mining Group successful in takeover of Nevsun Resources

Chinese company Zijin Mining Group successful in takeover of Nevsun Resources
VANCOUVER — Nevsun Resources Ltd. says Chinese company Zijin Mining Group Co. Ltd. has been successful in its $1.86-billion friendly takeover offer for the company. The companies say about 89.37 per cent of the total issued and outstanding Nevsun shares on a fully diluted basis were tendered to the offer of $6 per share in cash by the Dec. 28... Read More

Toronto stock index up in first trading since holiday; U.S. indexes stage late rally

Toronto stock index up in first trading since holiday; U.S. indexes stage late rally
TORONTO — Canada’s main stock index closed up sharply following a two-day holiday, while U.S. markets rebounded from a steep drop in early trading to end higher after strong gains a day earlier. The S&P/TSX composite index closed up 385.02 points, or 2.79 per cent, at 14,165.21 following the Christmas and Boxing Day holidays. In New York, the Dow Jones industrial average closed... Read More

OSC approves $30M settlement with Katanga over failed DRC risk disclosure

OSC approves $30M settlement with Katanga over failed DRC risk disclosure
TORONTO — A panel at the Ontario Securities Commission has approved a $30-million settlement with Katanga Mining over the company’s misleading statements and its failure to properly disclose the risks of operating in the Democratic Republic of the Congo. Katanga, majority owned by Swiss mining giant Glencore Plc, says as part of the settlement it will make a $28.5-million payment, reimburse the commission $1.5... Read More