Dominion Diamond unveils plan to avoid bankruptcy
Canada’s Dominion Diamond Mines has unveiled a transaction that would allow it to exit court protection from creditors and access short-term operating funds, which would pave the way to eventually…
Russia and CIS
Alrosa’s anemic April sales underscore market distress
Russia’s Alrosa, the world’s top diamond producer by output, saw sales for rough and polished diamonds fall to US$15.6 million in April, as the coronavirus pandemic continues to hit demand….
Russia questions legality of US space mining plan
Russia is questioning a U.S.-proposed global legal framework for mining on the Moon, saying the document would have to be examined thoroughly to make sure it complies with international laws…
S&P Global lowers GDP, metals price forecasts
S&P Global Ratings has cut its global GDP growth forecast for 2020 to 0.4%. Earlier this month, it lowered its GDP growth forecast for China to 2.9% from its previous…
BofA forecasts 4.7M tonne aluminium surplus
Bank of America Securities estimates global demand for aluminium will fall by 7.2% year-on-year in 2020 while supply will likely increase by 2%. Prices for the metal already have plunged…
Russia slams Trump’s order to mine Moon, asteroids
Russia’s space agency Roscosmos has condemned U.S. President Donald Trump’s order that encourages citizens to mine the moon and other celestial bodies for commercial purposes. The government body likened the…
Cameco halts conversion facility in Ontario
Canada’s Cameco (TSX: CCO; NYSE: CCJ), the world’s largest publicly traded uranium miner, is placing its plant at the Port Hope conversion facility in Ontario in a temporary safe shutdown…
Editorial: Sinking in a sea of red
The economic fallout from COVID-19 is mounting sharply. Last week, unemployment claims in the United States hit a record 6.6 million, up from 3.3 million the previous week, and the…
Nordgold takes stake in Cardinal Resources
Privately held Nordgold has taken a 19.9% stake in Cardinal Resources (TSX: CDV; ASX: CDV), which is advancing its Namdini gold project in Ghana. The Russian gold miner, whose non-executive…
Alrosa steps up efforts to brighten up fluorescent diamond sales
Alrosa, the world’s top diamond miner by volume, is betting on a new strategy to boost its sales amid an industry-wide slowdown that has hit small companies the hardest. The…
Centerra receives permits to restart Kumtor
Centerra Gold (TSX: CG) has received approvals and permits to restart open-pit mining at its Kumtor operation in the Kyrgyz Republic. The Kyrgyz state agency has approved Centerra’s 2020 mine…
Norilsk Nickel weighs capital investment and dividend strategy
Norilsk Nickel (US-OTC: NILSY) plans to boost spending on new projects over the next decade to increase production and capitalize on the growing electric car trend, but investors may need…