Earnings

Molycorp says revenues at Mountain Pass grow 69% in 1Q

May 11, 2012
Molycorp says revenues at Mountain Pass grow 69% in 1Q

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...

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Mineral Park overcomes operating challenges

May 11, 2012
Mineral Park overcomes operating challenges

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...

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Kinross reports higher margins, despite lower grades, higher costs

May 9, 2012
Kinross reports higher margins, despite lower grades, higher costs

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...

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Northwest silver producers set financial records in 2011

February 23, 2012
Northwest silver producers set financial records in 2011

Hecla and Coeur, the traditional big silver producers in the Northwest, both set several financial records in 2011 as the price of precious metals remained high and as they optimized their production at various mines around the Americas. Hecla Mining Co. said Tuesday that it produced record 2011 revenue of $477.6 million and gross profit...

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Barrick boosts return on equity to 22% in 2011, up from 20%, in an “excellent year”

February 16, 2012
Barrick boosts return on equity to 22% in 2011, up from 20%, in an “excellent year”

Barrick Gold Corp. achieved a 22% return on equity in 2011, up from 20% in 2010, leading to an “excellent year,” Aaron Regent, president and CEO, said this morning. Full year adjusted net earnings rose 33% from the same prior year period to $4.67 billion. Adjusted operating cash flow increased 8% to $5.68 billion...

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Revett sees significant increase in 3Q output

October 18, 2011

Revett Minerals Inc. said today that 3Q11 production from its Troy mine in northwestern Montana was 402,700 ounces of silver and over 3.28 million pounds of copper, a 45% increase in silver and 39% increase in copper over the same period last year and 18% increase in silver and 8% increase in copper from...

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Hecla follows Newmont by linking dividend to price of its precious metal

September 20, 2011
Hecla follows Newmont by linking dividend to price of its precious metal

Following a lead from Newmont Mining Corp., which has linked its dividend price to the market price of gold, Hecla Mining Co. said this morning it has taken a similar tack, linking dividend payments to Hecla’s average quarterly realized silver price in the preceding quarter. The initial quarterly dividend under the policy is expected to...

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What’s a nickel a pound worth to big copper producers?

January 3, 2011
What’s a nickel a pound worth to big copper producers?

At one time this morning, copper for March delivery had risen 5 cents to a(nother) record $4.49 a pound. At about the same time, shares in Freeport McMoRan Copper & Gold Inc., the major free-market producer, were up $2.22. But what is a penny’s rise in commodity value really worth to one of the...

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Thompson Creek has record-setting year, despite metal’s 4Q descent

March 19, 2009
Thompson Creek has record-setting year, despite metal’s 4Q descent

Thompson Creek Metals Co. Inc. reported record production of 26 million pounds of molybdenum in 2008, record revenues of $1.01 billion, record cash flow from operations of $417.6 million and record earnings before special non-cash charges of $276.3 million. That’s all before the final quarter of the year, when both moly’s price and the...

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Stillwater reports $112.7 million loss, reflecting drop in PGM prices

March 16, 2009
Stillwater reports $112.7 million loss, reflecting drop in PGM prices

Stillwater Mining Co. reported a 2008 net loss of $112.7 million on revenues of $855.7 million, reflecting the steep deterioration of the world economy and platinum-group metal (PGM) prices during the second half of 2008. The loss includes 4Q  impairment charges totaling $70.7 million, comprised of a $67.3 million carrying value adjustment at the...

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