Centerra raises dividend after profits double
Centerra Gold (TSX: CG) announced that the company recorded net income of US$80.7 million, or 27¢ per share, for the second quarter of 2020, more than double the US$33.4 million,…
Financial Matters, M&A
Newmont tops profit estimates on higher gold prices
Newmont (NYSE: NEM, TSX: NGT) said on July 29 that higher gold prices helped generate significant free cash flow in the second quarter of 2020. The world’s largest gold miner’s…
Auryn Resources to acquire Eastmain in $121M all-share deal
Auryn Resources (TSX: AUG; NYSE: AUG) is acquiring Eastmain Resources (TSX: ER) in an all-share deal valued at C$121 million. The transaction will create a new firm, Fury Gold Mines,…
Agnico Eagle profits soar in the second quarter
Agnico Eagle Mines (NYSE, TSX: AEM) reported on July 29 a near four-fold increase in quarterly profit, owing to a surge in gold prices and a reduction in exploration costs…
Exchange rates continue to impact mining salaries
Employment in the mining industry is highly specialized and as a result, retaining skilled staff is challenging. These employees are often the most valuable asset at a mine and can…
Private capital raised for mining falls to eight-year low
Fundraising for mining and metals investment slowed dramatically in 2019, falling to an eight-year low, according to a new report by private capital tracker Preqin. Only four unlisted funds closed…
Commentary: Why 2020 will be good for juniors
It’s the start of a new year and decade. Cue all the flashbacks and predictions. The year ahead will mark the resurgence of the junior miner. We’re starting to see…
Teranga buys Barrick’s Massawa in Senegal
Barrick Gold (TSX: ABX; NYSE: GOLD) is selling its 90% stake in the Massawa gold project in Senegal to Teranga Gold (TSX: TGZ; US-OTC: TGCDF) for US$300 million in cash,…
Cleveland-Cliffs to acquire AK Steel in US$1.1B all-share deal
US iron ore producer Cleveland-Cliffs (NYSE: CLF) is acquiring AK Steel (NYSE: AKS) in an all-share transaction valued at US$1.1 billion. Cliffs, North America’s largest producer of iron ore pellets,…
Centamin rebuffs US$1.9B bid from Endeavour Mining
Egypt-focused gold miner Centamin (TSX: CEE; LON: CEY) has rejected a US$1.9-billion all-stock takeover bid from Canada’s Endeavour Mining (TSX: EDV) announced earlier on Tuesday, saying it did not offer…
Zijin Mining to acquire Continental Gold for $1.4B in cash
In the latest megadeal sweeping the gold sector, Zijin Mining Group is buying Continental Gold (TSX: CNL; US-OTC: CGOOF) for $1.4 billion in cash. The Chinese gold miner is on…
Kirkland Lake to acquire Detour Gold in $4.9B deal
Kirkland Lake Gold’s (TSX: KL; NYSE: KL) proposed $4.9-billion all-share acquisition of Detour Gold (TSX: DGC) and its open-pit mine in northeastern Ontario will add 15.4 million oz. gold, or…