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...
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,...
The revised mine plan for the Hycroft mine in Nevada supports a 19-year operating life and exploits the current mineral reserve of 12.7 million ounces of gold and 481.9 million ounces of silver (1.1 billion tons grading 0.011 opt Au and 0.42 opt Ag), Allied Nevada Gold Corp. reported this morning. The following operating...
International Tower Hill Mines Ltd. said this morning that the State of Alaska has reached a landmark settlement with major oil producers BP PLC, Exxon Mobil Corp. and ConocoPhillips for the study of a major liquefied natural gas pipeline at the Point Thompson gas field on the North Slope of Alaska’s northernmost coast. A...
A preliminary economic assessment for its North Bullfrog project in Nevada says the gold mine will produce 57,700 opy over 12.8 years, paying back its initial capital of $68.8 million in 2.6 years, Corvus Gold Inc. reported this morning. This independently prepared PEA is based on the company’s Nov. 7, 2011 resource estimate and...
Its infill program at the Hycroft mine in Humboldt County, Nevada, along with additional engineering studies, successfully upgraded 2.5 million ounces of gold and 93.3 million ounces of silver to the proven and probable mineral reserve categories, Allied Nevada Gold Corp. said yesterday. Total proven and probable mineral reserves at year-end 2011 were 12.7...
A feasibility study for its Mt. Hamilton property in eastern Nevada says a mine there would have “robust economics” with excellent potential for developing additiona resources, Solitario Exploration & Royalty Corp. said this morning. With an initial capital cost of $71.9 million and per-ounce costs of $535 per ounce, the open-pit mine would provide 120...
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...
