U.S. stocks close in the red, Dec. 24-28
U.S. stocks ended the holiday shortened Dec. 24–28 trading week in the red as certainty that a deal will be made to avoid the fiscal cliff wavered.
News
Centerra gets more headaches in Kyrgyzstan, puts more capital into Turkey
Centerra Gold (CG-T) is going all-in on a small Turkish gold project, just as it prepares to endure more tough times at the world-class Kumtor gold mine in Kyrgyzstan. Issues at Kumtor have been ongoing, with talk concerning nationalization of…
ArcelorMittal sells Canadian stake to Asian consortium
With demand for steel in Europe tumbling about 8% in 2012 and a cumulative 29% since 2007, Luxembourg-based steel maker ArcelorMittal (MT-N) has decided to sell a 15% stake in ArcelorMittal Mines Canada to an Asian consortium — including…
SEC approves first copper-backed ETF
After a two-year regulatory battle, J.P. Morgan Chase (JPM-N) has won approval from the U.S. Securities and Exchange Commission (SEC) to launch an investment vehicle that tracks the price of copper.
BMO takes a fresh look at single-asset miners
BMO Capital Markets’ research team is shaking things up this new year.
Copper Mountain aims to produce more copper
Copper Mountain Mining (CUM-T) is giving guidance that its copper production for 2013 from its namesake mine in southern B.C. will be 80 million lb. — a number that falls within analyst expectations.
Editorial: Iron miners, iron wills
The new year kicking off with ArcelorMittal selling 15% of its Labrador Trough iron ore assets underscores the realignment in iron ore assets that has been going on around the world in recent months. Arcelor is selling the 15% stake for a cool…
Coal set to challenge oil for global energy supremacy by 2017
It has not been a good year for coal. Australian coal loaded at the port of Newcastle, a leading benchmark for global thermal prices, started the year at US$125 per tonne. Today it is worth just US$90 per tonne, a decline of almost 30%.
Coeur to take 100% of Joaquin
Some mining companies find it tough in Argentina — and particularly in less mining-friendly provinces like Chubut — where the provincial government has proposed higher taxes and royalties. And even in more benign, mining friendly…
Kaminak tallies 3.2M oz. gold in Yukon
The final stretch of 2012 was promising for for shareholders of Vancouver-based explorer Kaminak Gold (KAM-V). The company saw its share price rise 44% since Dec. 10 — jumping 44¢ before closing the week at $1.43 per share. Kaminak…
Belo Sun’s Volta Grande on M&A radar
Belo Sun Mining’s (BSX-T) Volta Grande could become a potential acquisition target, as the Toronto-based firm expands and derisks the large gold project in Brazil, analysts say.
Market news: Toronto Stock Exchange
The holidays brought cheer to Canadian investors, and the S&P/TSX Composite Index was up 54 points to 12,433.53 for the period, with equities still climbing at press time.