Teck Resources warns fourth-quarter profit will be lower than expected

Teck Resources warns fourth-quarter profit will be lower than expected
VANVOUVER, B.C. — Teck Resources Ltd. says it expects its fourth-quarter profit to be significantly below what investors were expecting due to the low price of Canadian oil at the end of last year, issues at its operations in Trail, B.C., and a decline in commodity prices. The mining company says the factors have combined to reduce its earnings by... Read More

Aben Resources: preparing for a busy 2019 exploration season

Aben Resources: preparing for a busy 2019 exploration season
VANCOUVER – After two very successful exploration programs in 2017 and 2018, Aben Resources’ 2019 exploration season is fully funded with high-grade targets ready to go on two separate projects: the Justin Project in Yukon and the Forrest Kerr Project in British Columbia. James G. Pettit, Director, President & C.E.O. of Aben Resources Ltd. provided Canadian Investor... Read More

SNC-Lavalin Group warns profit for 2018 will be lower than expected

SNC-Lavalin Group warns profit for 2018 will be lower than expected
MONTREAL — SNC-Lavalin Group Inc. is warning that its full year 2018 results will be lower than expected. The company says a serious problem has been found related to a single project in its mining and metallurgy business. It says the contract was awarded in 2016 and its year-end under-performance relative to internal budgets will materially affect its fourth-quarter results.... Read More

Higher energy prices drive TSX higher while U.S. markets are mixed

Higher energy prices drive TSX higher while U.S. markets are mixed
TORONTO — Canada’s main stock index increased on the back of higher crude oil prices while trading on U.S. stock markets was mixed. The S&P/TSX composite index closed up 72.45 points at 15,280.78. In New York, the Dow Jones industrial average was down 22.38 points at 24,553.24. The S&P 500 index was up 3.63 points at 2,642.33, while the Nasdaq composite was... Read More

Barrick explores sale of Zambian copper mine as government looks to boost taxes

Barrick explores sale of Zambian copper mine as government looks to boost taxes
TORONTO — Barrick Gold Corp. says it’s exploring all options including the possible sale of its Lumwana mine in Zambia as the government considers increased taxes. It says the country’s proposed changes to taxes and royalties on the mining industry would threaten the mine’s ability to sustain returns to all stakeholders. The Toronto-headquartered company says it continues to engage with Zambia about ways... Read More

Energy and financials down as TSX moves lower; loonie down against U.S. dollar

Energy and financials down as TSX moves lower; loonie down against U.S. dollar
TORONTO — Canada’s main stock index fell in late-morning trading as the key energy and financial sectors lost ground. The S&P/TSX composite index was down 30.18 points at 15,273.65. U.S. stock markets were closed in observance of Martin Luther King Jr. Day. The Canadian dollar traded for 75.23 cents US compared with an average of 75.41 cents US on Friday.... Read More

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