Virginia Mines funds Coulon exploration
Virginia Mines (TSX: VGQ; US-OTC: VGMNF) has sealed a deal with three institutional funds in Quebec that will help finance a $28-million accelerated exploration program on its Coulon project, a…
Canada
AuRico cuts costs as Young-Davidson takes the next step
VANCOUVER — As lower realized gold prices become the norm producers have received a clear message from markets: cut the fat and boost the margins. And AuRico Gold (TSX: AUQ; NYSE: AUQ) is aiming to move in that direction as it implements…
Rubicon inks $75-million gold stream with Royal Gold
VANCOUVER — A US$75-million gold-streaming deal with Royal Gold (TSX: RGL; NASDAQ: RGLD) has given Rubicon Minerals (TSX: RMX; NYSE-MKT: RBY) almost half the money it needs to finish building an underground gold mine at its Phoenix…
Cliffs puts the brakes on spending, swings to Q4 profit
On his second day on the job at Cliffs Natural Resources (NYSE: CLF) three months ago, newly appointed president and chief operating officer Gary Halverson shelved the company’s $3.3-billion plan to build a chromite mine in the Ring of…
Richmont expects $13.5M writedown at W Zone mine in Val-d’Or
Montreal-based Richmont Mines (TSX: RIC; NYSE-MKT: RIC) anticipates taking a $13.5-million impairment charge at its W Zone underground mine near Val-d’Or, Que., after recalculating the mine’s year-end 2013 reserves using a lower…
Agnico up on strong production, despite huge writedown
Agnico Eagle Mines (TSX: AEM; NYSE: AEM) kept its shares in the green after revealing strong operational results in the fourth quarter and full-year 2013, despite swallowing a huge impairment charge that weighed on earnings.
Barrick evolves into a ‘leaner, more agile’ operator
VANCOUVER — The past two years have served as a stark reminder of the cyclical nature of the mining business, and senior producer Barrick Gold (TSX: ABX; NYSE: ABX) spent much of 2013 transforming its business to better cope with the ups…
TNM’s Gwen Preston discusses Cliffs’ closure of Wabush Mines on CBC TV
Northern Miner senior staff writer Gwen Preston appeared as a guest on CBC TV’s extensive coverage of Cliffs Natural Resources’ (NYSE:CLF) closure of the Wabush Mines iron ore mine in western Labrador.
ICMM’s Hodge explores Roundup’s themes
VANCOUVER — The Association for Mineral Exploration British Columbia’s (AME BC) annual Roundup conference each January marks the beginning of a new year, and reflects many of the themes and topics that will come to define the…
TSX Venture Exchange, Feb. 3-7
The S&P/TSX Venture Composite Index rallied during the trading sessions after two consecutive weeks in the red, as it jumped 1.1%, or 10.78 points, en route to a 962.10-point close. Markets were bolstered by rising metal and energy futures,…
Alderon reaches deal with Labrador City
Alderon Iron Ore (TSX: ADV; NYSE-MKT: AXX) is further down the road in its quest to build the Kami iron mine in the Labrador Trough.
Casablanca urges Cliffs to spin off international assets
Shares in Cleveland-based Cliffs Natural Resources (NYSE: CLF) have been trading heavily since activist hedge-fund Casablanca Capital urged the company to spin off its international assets and implement other changes to boost…