Preliminary results show Barrick produced 5.5 million ounces of gold last year

Preliminary results show Barrick produced 5.5 million ounces of gold last year
TORONTO — Barrick Gold Corp. says its gold production for 2019 is expected to come in near the top end of its guidance, while copper production is forecast to be more than its earlier expectations. The gold miner says preliminary results indicate it produced 5.5 million ounces of gold last year compared with its guidance for between 5.1 million and 5.6 million ounces.... Read More

Teck Resources to pay $2 million for SunMine solar project at Kimberley, B.C.

Teck Resources to pay $2 million for SunMine solar project at Kimberley, B.C.
VANCOUBER, B.C. — Mining company Teck Resources Ltd. says it is purchasing the SunMine solar electricity generating facility in B.C. from the City of Kimberley. The Vancouver-based company says it has agreed to pay about $2 million, matching the city’s debt associated with the operation. The 1.05-megawatt SunMine opened in 2015 on reclaimed land at Teck’s Sullivan Mine, which was closed in 2001 after... Read More

Teck Resources signs deal with Ridley Terminals to increase shipments

Teck Resources signs deal with Ridley Terminals to increase shipments
VANCOUVER — Teck Resources Ltd. has signed a deal with Ridley Terminals Inc. that will allow it to increase shipments of steelmaking coal from its B.C. operations. Ridley Terminals owns and operates the marine bulk handling terminal on Prince Rupert’s Ridley Island on B.C.’s north coast. The agreement increases contracted capacity from three million tonnes per year to six million... Read More

Newmont drops Goldcorp from name as part of rebranding, raises dividend

Newmont drops Goldcorp from name as part of rebranding, raises dividend
VANCOUVER — Newmont Corp. is boosting its quarterly dividend by 79 per cent while also dropping reference to Canadian company Goldcorp as part of a centenary-year rebranding. The Denver-based company says the dividend will increase to 25 cents per share. It was only in April last year that Newmont changed its name to Newmont Goldcorp Corp. after it closed a takeover of... Read More

Canadian oilpatch hopes float on Prairie helium drilling prospects

Canadian oilpatch hopes float on Prairie helium drilling prospects
CALGARY — A veteran of Canada’s ailing oilpatch is hoping a new product drawn from deep under Prairie grain fields will provide a natural resource boom for Western Canada. Marlon McDougall, 59, says he wasn’t interested when first approached last year to join a junior exploration company. After 35 years in the oil and gas industry, he had grown frustrated by its multiplying headaches, including environmental criticism, pipeline constraints, regulatory... Read More

North American stock markets trade up on the first day of trading in 2020

North American stock markets trade up on the first day of trading in 2020
TORONTO — The financial and industrials sectors helped lift Canada’s main stock index in late-morning trading, while U.S. stock markets also moved higher on the first day of trading of the year. The S&P/TSX composite index was up 13.16 points at 17,076.59. In New York, the Dow Jones industrial average was up 168.19 points at 28,706.63. The S&P 500 index... Read More

Equinox Gold chairman says Leagold deal a natural in sector where ‘size matters’

Equinox Gold chairman says Leagold deal a natural in sector where ‘size matters’
The chairman of Equinox Gold Corp. says the purchase of Leagold Mining Corp. in a friendly all-stock deal makes sense in an industry where “size matters” more than ever before. On a conference call after announcing the deal valued at about $770 million on Monday, Ross Beaty said the merging of two “young, dynamic companies,” both based in Vancouver, is a natural.... Read More

Equinox Gold to acquire Leagold Mining Corp in friendly, all-stock deal

Equinox Gold to acquire Leagold Mining Corp in friendly, all-stock deal
VANCOUVER — Equinox Gold Corp. will acquire Leagold Mining Corp. in a friendly deal that will raise its annual production to about one million ounces of gold starting in 2021. It’s offering 0.331 of an Equinox share per Leagold share. Based on Friday’s closing stock prices, Equinox’s offer is worth $2.70 per share — equal to Leagold’s stock price, which gave it... Read More

Barrick Gold and partner selling project in Senegal in deal worth up to US$430M

Barrick Gold and partner selling project in Senegal in deal worth up to US$430M
TORONTO — Barrick Gold Corp. and its Senegalese joint-venture partner have reached deal to sell their 90 per cent stake in the Massawa project in Senegal to Teranga Gold Corp. in an agreement worth up to US$430 million. Under the deal, Barrick and its partner will receive US$300 million in cash and roughly 20.7 million in Teranga shares valued at... Read More

Endeavour Mining makes $2.5B bid for Centamin after failing to reach deal

Endeavour Mining makes $2.5B bid for Centamin after failing to reach deal
TORONTO — Endeavour Mining Corp. is offering to buy Centamin PLC in a stock-swap deal that values the gold miner at roughly $2.5 billion, based on stock values just prior to the announcement. Endeavour says it made the offer after several unsuccessful attempts to engage with the board of Centamin regarding a possible merger. Toronto-listed Endeavour, which has gold mines in Africa, is offering 0.0846 of... Read More