New milestone for OceanaGold
Earlier this week OceanaGold (OCG-T, OGC-A) declared that the first concentrate from its Didipio open-pit mine in the Philippines was en route to Japan.
Australia, NZ & South Pacific
Iron ore outlooks turn gloomy
VANCOUVER — Goldman Sachs has cut its iron ore price forecasts and downgraded its Rio Tinto (RIO-N, RIO-L) recommendation from “neutral” to “sell.” The reason? More than 90% of the company’s 2012 earnings…
Crocodile uses debt to fund growth in Oz
Australia-focused Crocodile Gold (CRK-T) is looking to fund development through debt. The company is issuing $30 million in convertible debt that would pay interest at a 5% rate.
Metals Commentary: CRU sees better year ahead for iron ore
Phil Newman, CEO of metals consultants CRU Strategies in London, kicked off the “Commodities and market outlook” technical session that launched the Prospectors & Developers Association of Canada convention with a relatively…
The high-stakes world of Papua New Guinea mining
PORT MORESBY, PAPUA NEW GUINEA — Rising out of the sea at the collision of the Pacific and Indo-Australian tectonic plates, Papua New Guinea is the stuff of legend for both its geological potential and punishing working environment.
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.
Commentary: Seabed mining still lacks ground rules
As the natural resources available on land become less and our need for them grows, exploration activities move offshore.
Record production lifts Paladin
Uranium miner Paladin Energy (PDN-T) picked a good time to beat production estimates.
Nautilus’ Solwara 1 deep-sea project in limbo
After last year’s funding dispute with the government of Papua New Guinea (PNG), Nautilus Minerals (NUS-T) is continuing to suspend development of its erstwhile flagship Solwara 1 deep-sea mining project.
Angkor cashes in on Cambodian project generation
VANCOUVER — It has been just over a year since Vancouver-based Angkor Gold (ANK-V) went public with its stable of Cambodian exploration projects, and it is looking like the company’s early-mover strategy in the developing Southeast Asian…
Primero snapping up Cerro del Gallo
Toronto-based gold producer Primero Mining (P-T, PPP-N) has waded into merger-and-acquisition waters with a friendly offer to buy Australian gold explorer Cerro Resources (CJO-V, CJO-A) in an all-stock deal worth US$120 million.
First Quantum offers $5.1B in sweetened bid for Inmet
First Quantum Minerals (FM-T, FQM-L) has stepped up its game for Inmet Mining (IMN-T) with a hostile $5.1-billion takeover offer in hopes of winning over Inmet shareholders after failing twice to entice the company’s board in recent…