The world’s platinum market swung back into surplus last year, while the palladium market was in oversupply as well, Johnson Matthey reported today in Platinum 2012. But while the platinum market is forecast to remain in oversupply this year, the palladium market is expected to return to deficit, the company said. Gross platinum demand...
In the recent quarter, Molycorp Inc. initiated the start-up of its new mill, flotation separator, and paste tailings facility at its Mountain Pass rare-earths property in eastern California. The company also announced a 36% expansion of its proven and probable rare-earth reserves at Mountain Pass, confirming 18.4 million short tons of rare-earth ore at...
Mercator Minerals Ltd. reported 1Q12 revenues of $65.2 million, an increase of 17% over 1Q11, while gross profit was $17.9 million in the recent period, an increase of 12% over the comparable three months of 2011. Cash flow from operations (before changes in non-cash working capital items) was $7.1 million in 1Q12, compared to...
Kinross Gold Corp. saw its gold production fall by 6% in the recent quarter, to 604,247 gold-equivalent ounces, but its adjusted net earnings still rose 16% to $203.1 million, the world’s No. 6 gold producer reported yesterday. Reported net earnings, however, were $105.7 million in the recent period, down from $250.1 million a year...
Newfoundland and Labrador’s economy will benefit from billions in mining investment in the near term as more than $140 billion in new mining investment is expected across Canada over the next five years. This growth is largely attributed to a number of promising projects located in the province, according to the Mining Association of...
Patrick Moore, Greenpeace co-founder and author of Confessions of a Greenpeace Dropout: the Making of a Sensible Environmentalist, will give the keynote address on May 18 at the Prospectors and Developers Association of Canada’s (PDAC) Student-Industry Mineral Exploration Workshop (S-IMEW) in Sudbury. Moore, a leader of the international environmental movement for more than 30...
Quaterra Resources Inc. and the Board of Supervisors of Mohave County, Arizona, have filed a lawsuit in the U.S. District Court for the State of Arizona naming as defendants the Department of the Interior and the Bureau of Land Management over withdrawal of lands in northern Arizona for uranium mining, the company reported this morning....
Ucore Rare Metals Inc. has received an underground mine-design study of the Bokan heavy-rare-earth project on Prince of Wales Island in Alaska, it reported this morning. The design was completed by Stantec, of Tempe, Ariz. The objective of the study was to recommend the most advantageous mining methodology from a range of alternatives and estimate...
Rio Tinto and Ivanhoe Mines Ltd. have signed an agreement under which Rio Tinto has agreed to support and provide certain elements of a comprehensive funding package for Ivanhoe that will underpin the development of the Oyu Tolgoi copper/gold mine in Mongolia, Rio Tinto said this morning. The parties also have agreed that Rio Tinto,...
Energy Fuels Inc. and Denison Mines Corp. have a deal for Energy Fuels to acquire all of Denison’s mining assets and operations located in the United States from Denison in exchange for 425.4 million common shares of EFR, the firms said yesterday. Denison then will distribute the EFR shares to its shareholders, who will get...
