Diamond glut ‘not as catastrophic’ as people believe: Lucara CEO
After a decent 7% increase in 2014, rough diamond prices have fallen for the past year, prompting diamond equities to follow.
Russia and CIS
Kinross’s scaled-down expansion plan at Tasiast
Kinross Gold (TSX: K; NYSE: KGC) is working on a two-phase, alternative expansion plan at its Tasiast gold mine in Mauritania to turn the asset into a profitable operation.
Centerra breaks even in Q3, before US$18M hit at Kumtor
Centerra Gold (TSX: CG; US-OTC: CAGDF) has widened its third-quarter loss, but is reducing its annual cost guidance to reflect lower operating costs at its Kumtor gold mine in Kyrgyzstan.
Wenco wins work at Siberian gold mine
Polyus Gold (LSE: POLG) has tapped Wenco International Mining Systems to provide high-precision guidance for shovels and drills at its Blagodatnoye gold mine in eastern Siberia. The technology will be installed by the end of 2015.
Silver Bear CEO Hill at home in Russia’s Far East
Over the course of his career, Graham Hill has worked in some remote and challenging locations.
EduMine’s Simon Houlding wins Vale medal
Growing up in Zimbabwe after World War II, completing an engineering degree at the University of Witswatersrand in Johannesburg, and working at Jones & Wagener, a specialist firm of consulting engineers and scientists based in South Africa,…
Coal sector woes expected to accelerate, experts say
With coal prices sitting at multi-year lows, almost 17% of coal production this year in the U.S. could be at risk of idling or closure, as total cash costs plus sustaining capital expenditures exceed current market prices, Wood Mackenzie says…
Kinross defers Tasiast mill expansion
Kinross Gold (TSX: K; NYSE: KGC) has put its US$1.6-billion Tasiast mill expansion project on hold to keep its balance sheet intact in the current low gold price environment, with at least one analyst thinking the firm is considering other…
Centerra joins Premier Gold at Trans-Canada
Premier Gold Mines (TSX: PG; US-OTC: PIRGF) has brought in Centerra Gold (TSX: CG; US-OTC: CAGDF) as its joint-venture partner for its flagship Trans-Canada property, including its advanced Hardrock gold project, in the Geraldton-Beardmore…
Mining industry revisits anti-corruption procedures
Mining companies should take note of Canada’s stricter penalties and more aggressive enforcement of anti-corruption laws and make sure their anti-bribery compliance procedures are up to speed, lawyers, forensic accountants and mining…
Two suitors court Carlisle
Just two days after the ink dried on a binding joint-venture agreement between Canadian gold miner AuRico Gold (TSX: AUQ; NYSE: AUQ; CGJ) and Carlisle Goldfields (TSX: CGJ; US-OTC: CGJCF) on the junior’s Lynn Lake project in Manitoba,…
Gold Reserve wins US$740M in ‘stunning victory’ against Venezuela
It’s taken six years and over US$20 million in legal costs, but Gold Reserve (TSX: GRZ; US-OTC: GDRZF) has won US$740.3 million in compensation for the expropriation of its Brisas gold project by the Venezuelan government. It’s one…