Barrick finds Saudi partner for stalled Jabal Sayid project
VANCOUVER — Saudi Arabian Mining Co. is buying a 50% stake in the Jabal Sayid copper project from Barrick Gold (TSX: ABX; NYSE: ABX) for US$210 million.
Financial Matters, M&A
Corsa Coal to acquire PBS Coals
Severstal Resources, one of Russia’s largest producers of iron ore and coking coal and a division of Severstal (LSE: SVST), plunked down US$877 million in 2008 to buy PBS Coals, a privately held company in southwestern Pennsylvania with…
Barrick CEO Sokalsky stepping down
Barrick Gold’s (TSX: ABX; NYSE: ABX) president and CEO Jamie Sokalsky will be leaving his post in September, as part of a management shakeup whereby the major gold producer is axing its CEO role and naming two executives as…
Lundin on track at Eagle in the UP, responds to acquisition speculation
VANCOUVER — Lundin Mining (TSX: LUN; US-OTC: LUNMF) looks to be on point at its newest acquisition, namely the Eagle nickel–copper mine, 45 km northwest of Marquette, Mich. The base metal miner picked up the asset from Rio…
Kaizen Discovery to meet Japanese demand for metals
After first listing in December, it’s no surprise that junior Kaizen Discovery (TSXV: KZD; US-OTC: CCNCF) has started out with a strong sense of purpose. After all, Kaizen means “continuous improvement” in Japanese.
Avino Silver & Gold to reacquire Bralorne project
Profitable silver junior Avino Silver & Gold Mines (TSXV: ASM; NYSE-MKT: ASM) has inked a letter of intent to acquire Bralorne Gold Mines (TSXV: BPM; US-OTC: BPMSF) for its Bralorne gold project in B.C. — a past-producing mine that is…
David Jones talks Guerrero discoveries, Minaurum play
VANCOUVER — When it comes to Mexico’s emerging Guerrero gold belt, there aren’t many geologists with as much experience in the region as David Jones, who first set boots in the area with Teck Resources (TSX: TCK.B; NYSE:…
Banro challenger backs off from proxy battle
After waging a weeks-long campaign against the board of Banro (TSX: BAA; NYSE-MKT: BAA), Liberty Street Capital backed off its bid for control of the gold miner just two days before Banro’s annual general meeting.
TSX Venture rises for third week, June 16-20
The S&P/TSX Venture Composite Index rallied for a third straight week during the June trading period, gaining 2.9%, or 29.04 points, en route to a 1,206.37-point close. Commodity futures were on the rise across the board, with escalating…
Kirkland Lake Gold raises $7M to explore beyond Macassa
In a move which signals that junior gold companies are still a draw for investors, Kirkland Lake Gold (TSX: KGI; LSE: KGI) has struck a bought-deal financing that will raise $7 million to advance the company’s exploration program.
First Quantum to buy Lumina Copper for $470M
First Quantum Minerals (TSX: FM; LSE: FQM) has made a friendly $470-million takeover offer for Lumina Copper (TSXV: LCC; US-OTC: LCPRF), ending a sale process for the junior and its Taca Taca copper–gold–molybdenum project in…
B2Gold to acquire Papillon Resources
Over the last six years, B2Gold (TSX: BTO; NYSE-MKT: BTG) has looked at scores of properties that it considered adding to its portfolio of assets, which includes two mines in Nicaragua, one mine in the Philippines, another under construction in…