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South African miner Sibanye raises loss estimate by $100 million-plus

South Africa’s Sibanye-Stillwater expects its full-year attributable loss to be more than $100 million greater than guidance in a trading statement last week, it said on Wednesday, after a review of tax changes in the United States. Sibanye now expects a headline loss per share of 1 cent, compared with 12 cents in 2017 The […]

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Can blockchain help drive miners' bottom line?

Blockchain is a notable buzzword, and while the technology is being rapidly adopted by many industries, the mining sector has been criticized for staying stuck on old models. “The world has been transformed by new technologies such as the internet and the blockchain, mining has continued to do business slower and more expensively than is […]

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Glencore plans new buyback as trading profit disappoints

Glencore Plc reported its weakest trading profit in five years and missed analysts’ earnings estimates, even as the mining giant promised to increase its rewards to shareholders after a tough year. The disappointing performance in the trading unit is a blow for Glencore, which has always said its traders can make money in any kind […]

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Peru raids biggest illegal mining zone to stem Amazon gold rush

Peru moved to shut down a major illegal gold mine hub deep in the Amazon after years of expansion destroyed pristine rain forest and polluted rivers with mercury. The government deployed 1,500 agents from the police and armed forces to La Pampa in the Madre de Dios region of southeast Peru on Tuesday to begin […]

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AngloGold's Colombia soil study cannot be halted by mayor -provincial authority

Miner AngloGold Ashanti can resume a soil study halted by a municipal council ban on mining activities, the environmental authority in Colombia’s Antioquia province said. The mayor of the town of Jerico had ordered a suspension of the work in January after the council voted late last year to ban mining in the area. In […]

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Palladium smashes $1,500 as shortages to aid Nornickel, amplats

Palladium surged above $1,500 an ounce to a record, extending a powerful rally that’s been driven by an acute shortage of supply as car manufacturers scramble to get hold of the material to meet stringent emissions controls. The advance will benefit top suppliers in Russia and South Africa. Spot palladium surged as much as 1.7 […]

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Newcrest ups stake in Ecuador with Cornerstone deal

Australia’s largest gold producer, Newcrest Mining (ASX: NCM), is expanding its footprint in Ecuador by signing an agreement with Cornerstone Capital Resources (TSX-V:CGP), a Canadian junior with several assets in the country, including a 15% stake in SolGold’s coveted Cascabel copper-gold project. Under the deal, a subsidiary of Newcrest will have the option to earn up to […]

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Mining companies operating in Sub-Saharan Africa should invest in renewable energy – Report

A report published by Fitch Solutions states that due to the prevalence of off-grid remote mineral deposits in Sub-Saharan Africa and the fact that traditional grid-power tends to be unreliable in those mines, mining companies operating in the region should invest in renewable energy. According to the market research firm, off-grid mines could benefit from […]

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IAMGOLD reports 23% growth in gold reserves

Canadian bullion producer IAMGOLD Corp. (TSX: IMG) (NYSE: IAG) reported a 23% increase in its Proven and Probable gold Reserves, which reached 17.9 million ounces at the end of 2018 due to the conversion of resources to reserves at the Saramacca deposit in Suriname, the Côté gold project in Ontario, and the Boto gold project […]

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Glencore yields to investor pressure, caps coal production

Miner and commodities trader Glencore (LON:GLEN), one of the world’s top coal exporters, has yielded to investor pressure to embrace a “low-carbon economy” by announcing it will cap production of the fossil fuel to align its business strategy with the goals of the Paris climate agreement. The unexpected move will also see the Swiss miner […]