KGHM starts the bidding on Quadra FNX
Three billion dollars may sound like a tidy sum – but when it’s the price tag on a global copper producer with a stable of enviable development projects, it may not be enough.
Volume 97 Number 43 Dec 12 - 18, 2011
Market news
Toronto Stock Exchange
Spot prices
Tuesday, Dec 6, 2011
New NWT Premier looking to revive mineral investments
Two recent news items have underscored the divergent futures of the Northwest Territories (NWT) and Canada’s other two territories. On one side, BHP Billiton (BHP-N) announced possibly selling its Ekati diamond mine in the Northwest Territories…
LME warehouse levels
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Dec. 5, 2011 (change from Nov. 28 in brackets):
Newmont suspends Conga construction
Newmont Mining (NMC-T, NEM-N) has indefinitely halted construction activities in agreement with the government of Peru at its 51%-owned Conga gold-copper project in the northern region of Cajamarca, following weeks of protests over the proposed…
K+S to make history with Legacy potash
K+S plans to go ahead with building its Legacy potash project in Saskatchewan’s highly prospective potash basin, with initial production expected in 2015.
Canaccord: Keegan shares oversold
Keegan Resources (KGN-T, KGN-X) shares are undervalued, even considering the new tax changes proposed in Ghana, Canaccord Genuity mining analyst Nicholas Campbell argues in a research note, adding that the gold junior could be targeted by an…
Molycorp delivers on magnet-making deal
In August Molycorp’s (MCP-N) proposed partnership with Hitachi Metals to create a joint venture that would manufacture neodymium-iron-boron (NdFeB) alloy and permanent rare earth magnets fell through when the two companies failed to reach an…
Letter to the Editor: Canada’s CSR review process misrepresented
The article about this office (“Canada’s new CSR Counsellor not feeling the love,” TNM, Nov. 28-Dec. 4, 2011) misrepresents our review process in many material aspects. I can only imagine that Excellon Resources’ CEO was misinterpreted in his…
Editorial: Quebec’s growing mining ambivalence
If you’re wondering how the Quebec mining industry’s lobbying efforts are coming along to amend the provincial government’s mining-restrictive Bill 14, tabled in May to update the Mining Act, look no further than the increasingly frustrated and…
Facts ‘N’ Figures: Gold buying responsible for India’s yawning account deficit
A massive appetite for gold across India is causing the country’s account deficit to widen, with most of the South Asian nation’s gold demand met through imports, a new study by Macquarie Economics Research says.