TSX Venture Exchange, Feb. 18-22
The S&P/TSX Venture Composite Index dropped 3.5%, or 40.97 points, during the trading period before closing out the week at 1,144.68, while declining commodity prices put downward pressure on Canadian markets.
2013
U.S. Markets, Feb. 18-22
The S&P 500’s seven-week winning streak ground to a halt, with the benchmark index falling 0.1% to 1,515.60. The Dow Jones Industrial Average edged 0.1% higher to finish at 14,000.57, and the Philadelphia Gold and Silver Index lost…
Japan and Russia powering uranium rebound
Analysts across the board are forecasting rising uranium oxide prices in 2013, underpinned by China’s drive to build a pile of new nuclear reactors. The effort is well underway with 29 units already under construction, but China is not…
Inmet boosts copper reserves as First Quantum bid looms
VANCOUVER — As its future hangs in the balance, Canadian base metals producer Inmet Mining (IMN-T) increased its value with a global resource update on Feb. 11, which was highlighted by a 22% jump in proven-and-probable copper reserves.
Commentary: The cyclicality of global mining executive pay
Mining is an unpredictable business, but it’s still cyclical in nature. In good and bad times, the industry faces new, unique challenges, and nowhere is this more evident than in executive compensation.
A giant stirs in Bougainville
PANGUNA, BOUGAINVILLE — After more than 20 years in limbo, the small Papua New Guinea island of Bougainville is closer than ever to reopening the infamous Panguna mine.
Energizer outlines graphite economics
VANCOUVER — A busy 12 months for Toronto-based explorer Energizer Resources (EGZ-T) culminated on Feb. 26 with the release of a preliminary economic assessment (PEA) on its Molo graphite deposit, 145 km southeast of the city of Toliara in…
Barrick takes US$3.8B writedown on Lumwana
VANCOUVER — Copper isn’t turning out to be the growth avenue Barrick Gold (ABX-T, ABX-N) hoped it would be.
Excalibur looks to pull gold from Mexican stone
SAN LUIS POTOSI, MEXICO — Cylindrical brick stacks poking out of the barren hillsides can be seen from miles away. But curiously, they don’t attach at the base to any grand warehouse or factory.
Osisko marches ahead at Canadian Malartic
Osisko Mining (OSK-T) foresees better days ahead at its flagship 100%-owned Canadian Malartic gold mine in the town of Malartic, west of Val-d’Or, Que.
Commentary: Gold mines and gravestones in the Sahara
When an African gold-mining operation ran up against unusual rock formations that according to local rumours might be human graves, a religious ruling forced mine expansion plans to be put on hold.
Commentary: Prepping for PST in BC
April 1 is fast approaching, and B.C. mining companies are bracing for the change back to a 5% federal goods and services tax (GST), and a 7% provincial sales tax (PST).