Ivanhoe drops poison pill, secures financing
Rio Tinto (RIO-N, RIO-L) is moving ever closer to increasing its stake in the Oyu Tolgoi copper-gold deposit in Mongolia through Ivanhoe Mines’ (IVN-T, IVN-N) equity.
News
Editorial: Minefinders turns buyerfinder
Showing just how hard it is these days to find high-quality primary silver prospects to buy, Pan American Silver has turned some silver bugs’ heads by easing up on its long-held silver purity and tabling a friendly $1.5-billion offer for the…
Commentary: Making sense of royalty structures and rates, part II
The first article in this series (TNM Dec. 5-11, 2011) examined what a royalty is, the different ways it can be structured and used and its history in Canadian mining. The series continues with a look at which royalty structure is appropriate…
Gold to hit US$2,000 before rally ends in 2013: GFMS
A report by Thomson Reuters-owned metal market analysis firm GFMS predicts the price of gold will rally to all-time highs later this year before reaching the closing stages of its decade-long bull run sometime in 2013.
Western Australia to expand Esperance port
The Western Australian government’s decision to expand capacity at the Esperance port will benefit companies like Macarthur Minerals (MMS-T, MMSDF-O) and others active in the emerging iron ore sector in the Yilgarn area.
New law clears cyanide use in Rio Negro, Argentina
The passage of a law that allows the use of chemicals including sodium cyanide in mineral processing lifts the prospects of advancing Pan American Silver’s (PAA-T, PAS-Q) Calcatreu gold project in Argentina’s Rio Negro province.
Suppliers news
Finning to buy Caterpillar units
Pan American looks to Minefinders
Driving down cash costs, generating immediate cash flows and building itself into the world’s largest primary silver producer sound like good enough reasons for Pan American Silver (PAA-T, PAAS-Q) to table a friendly takeover bid for fellow…
Market news
Toronto Stock Exchange
Spot prices
Tuesday, Jan 24, 2012
LME warehouse levels
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Jan. 23, 2012 (change from Jan. 16 in brackets):
Kinross tumbles on project delays
Kinross Gold (K-T, KGC-N) fell more than 20% after it said it is reviewing its three major advanced gold projects to improve economics, likely causing months of delay and a goodwill write down of the Tasiast gold project in Mauritania.