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Crescent Resources relinquishes Matupa Gold Project in Brazil
Thursday, November 6, 2008
Crescent Resources Corp. (TSXV:CRC) said it has pulled out of an agreement to buy assets in the Matupa gold property in Brazil.  more
Xstrata Copper Canada says it has tentative deal with CAW at Kidd Metallurgical
Thursday, November 6, 2008
Xstrata Copper Canada says it has reached a tentative agreement with executives at the Canadian Autoworkers Union Local 599 for the renewal of the collective agreement at the Kidd Metallurgical site near Timmins, Ont.  more
FNX Mining records Q3 net loss of $26.3 million on 'dramatically declining' prices
Thursday, November 6, 2008
FNX Mining Co. Inc. (TSX:FNX) has recorded a net loss of $26.5 million, or 31 cents per share, in the third quarter.  more
Iamgold Q3 revenue up 33 per cent, profit down slightly to $18.8 million
Thursday, November 6, 2008
Iamgold Corp. (TSX:IMG) reported Thursday a third-quarter profit of $18.8 million or six cents per share, down slightly from a year-earlier $19.5 million or seven cents per share.  more
Enbridge expansions to go ahead despite falling oil prices, credit crunch
Thursday, November 6, 2008
The $12-billion in pipeline projects on the go at Enbridge Inc. (TSX:ENB) will not be derailed by falling crude prices and rattled financial markets, the company's chief executive said Wednesday.  more
Canadian Natural Resources Q3 profit quadruples to $2.8B; 2009 capex halved
Thursday, November 6, 2008
Canadian Natural Resources Ltd. (TSX:CNQ) will spend about 50 per cent less on capital projects next year than in 2008 as major construction on its Horizon oilsands mine wraps up and conditions in the economy worsen.  more
Mega Silver to cut jobs and project costs to preserve cash
Wednesday, November 5, 2008
Junior mining company Mega Silver Inc. (TSXV:MSR) said it is cutting jobs and project costs as a way to preserve cash in the current economic downturn.  more
Gold, other commodities reflect gains in equities
Wednesday, November 5, 2008
Gold and other commodities soared Tuesday, following Wall Street's lead in a U.S. election day rally. A weakening U.S. dollar also contributed to the gains.  more
Potash Corp. looks to aboriginal community to help fill future employment needs
Wednesday, November 5, 2008
The president of the Potash Corporation of Saskatchewan says the world's largest fertilizer producer must reach out to the aboriginal community to help meet its future employment needs.  more
First Uranium agrees to sell quarter of gold output from tailings recovery project
Wednesday, November 5, 2008
First Uranium Corp. (TSX:FIU) has arranged to sell up to one-quarter of the estimated 2.1 million ounces of gold that's expected from its tailings recovery project in South Africa.  more
Cameco reports 'modest increase' in water inflow to McArthur River Mine
Wednesday, November 5, 2008
Cameco Corp. (TSX:CCO) (NYSE:CCJ), one of the world's largest uranium producers, said there has been a "modest increase" in water inflow to a development area of the McArthur River uranium mine in northern Saskatchewan  more
Monterey Exploration reports Q3 profit of $1.3M; curbs capital spending and drilling
Tuesday, November 4, 2008
Monterey Exploration Ltd. (TSX:MXL) is reducing its 2008 capital budget by 20 per cent to $32 million as a way to conserve capital in the weakening economic climate.  more
Gabriel Resources Q3 loss $2.8M; looking forward to new Romanian government
Tuesday, November 4, 2008
Gabriel Resources Ltd. (TSX:GBU) is looking forward to a new government in Romania while reporting a quarterly loss of $2.8 million as its Rosia Montana gold project remains entangled in politics and regulation while the financing environment deteriorates.  more
Northgate third quarter loss widens to US$29.4 million from US$11.9 million
Tuesday, November 4, 2008
Northgate Minerals Corp. (TSX:NGX), a gold and copper miner with operations in British Columbia and Australia, reported a sharply higher loss in the latest quarter as the company took a big charge on its investments.  more
Flint announces oilsands pipeline maintenance contract worth $12 million
Tuesday, November 4, 2008
Flint Energy Services Ltd. (TSX:FES) of Calgary says its 50 per-cent-owned joint venture has won a two-year, $12 million contract to provide pipeline maintenance services at Canadian Natural Resources Ltd's (TSX:CNQ) Horizon oilsands project near Fort McMurray, Alta.  more
Oil price runup to blame for global economic turmoil: CIBC economist
Tuesday, November 4, 2008
A prominent Canadian economist says oil prices are to blame for the global economic slowdown, not the crash of the U.S. housing market.  more
Copper Mountain's board of directors authorizes development of B.C. mine project
Monday, November 3, 2008
Copper Mountain Mining Corp. (TSX:CUM) announced Friday its board of directors has approved development of the Copper Mountain mine project near Princeton, B.C.  more
High River Gold on the brink: Russian deal delayed, subsidiaries in default
Monday, November 3, 2008
High River Gold Mines Ltd. (TSX:HRG) says its future is in doubt as the miner copes with a cash shortage and project delays while its board seeks new financing or a buyer for the company.  more
World's second largest miner Vale slashes production
Monday, November 3, 2008
The world's top producer of iron ore said Friday it will cut its annual ore production by 30 million metric tonnes as demand for steel crumbles because of the global economic crisis.  more
Goldcorp CEO expects $1,000 gold in near future; Q3 revenues up 5 pct
Monday, November 3, 2008
Goldcorp Inc. (TSX:G) saw its net income and revenues jump in the third quarter, and CEO Kevin McArthur says he expects to soon see gold prices in the thousand-dollar range—a price that will allow the company to achieve its goal of 50 per cent growth over the next five years.  more
Liberty Mines puts itself up for sale and suspends operations at three nickel sites
Monday, November 3, 2008
Liberty Mines Inc. (TSX:LBE) said Friday it is immediately suspending operations at three Ontario operations as a result of a drop in commodities prices caused by the global economic downturn, and that it is putting itself up for potential sale.  more
200 protesters march on the Alberta legislature to protest oilsands 'wasteland'
Monday, November 3, 2008
More than 200 protesters from across Canada marched on the Alberta legislature Saturday to demand a halt to further energy projects in Alberta's sprawling oilsands.  more
Asian Mineral Resources suspends work on Vietnamese nickel mine
Monday, November 3, 2008
Canadian-based junior miner Asian Mineral Resources Ltd. (TSXV:ASN) is indefinitely suspending work at its Ban Phuc nickel project in Vietnam, where it had hoped for a start-up next spring.  more
Centerra Gold reports Q3 earnings of $16.9M, up from year earlier loss of $90.4M
Friday, October 31, 2008
Centerra Gold Inc. (TSX:CG) reported Friday third-quarter earnings of Can$16.9 million or eight cents per share, up from a net loss of $90.4 million or 42 cents per share in the same quarter last year.  more
Death toll in mine blast in northern China's Shaanxi province rises to 23
Friday, October 31, 2008
The death toll in a mine explosion in northern China has risen to 23, with six others missing and presumed dead.  more
Goldcorp Q3 revenue rises five per cent to US$552.2M on strong gold price
Friday, October 31, 2008
Goldcorp Inc. (TSX:G) has reported third-quarter net income of US$297.2 million, up from $75.8 million a year earlier as a realized gold price of $865 per ounce led to a five per cent revenue increase to $552.2 million.  more
Moody's lowers Teck rating after closing of Fording deal
Friday, October 31, 2008
Moody's Investors Service lowered its rating on Teck Cominco Ltd. (TSX:TCK.B) Thursday after the mining giant confirmed it closed its debt-laden multimillion-dollar takeover of Fording Canadian Coal Trust (TSX:FDG  more
Denison expects 2009 output to grow between 25 per cent and 50 per cent
Friday, October 31, 2008
Denison Mines Corp. (TSX:DML), a Toronto-based uranium miner, expects 2009 production to jump between 25 per cent and 50 per cent to between 2.1 million pounds and just under 2.6 million pounds.  more
Western says it will pursue legal action after Tinpo cancels takeover talks
Thursday, October 30, 2008
Western Prospector Group Ltd. (TSXV:WNP) says it will pursue legal action against Tinpo Holdings Industrial Company Ltd. after the company dropped renewed takeover talks.  more
Barrick Gold Q3 profit knocked down to US$254M by one time charges
Thursday, October 30, 2008
Barrick Gold Corp. has reported third-quarter net income of US$254 million, down from $345 million a year earlier.  more
Canadian Oil Sands Trust Q3 profit up 67 per cent; cuts distribution 40 per cent
Thursday, October 30, 2008
Canadian Oil Sands Trust (TSX:COS.UN) said record oil prices helped third-quarter profit climb 67 per cent, but that it is cutting its quarterly dividend by 40 per cent "in response to current market conditions."  more
Imperial Oil hits record $1.4 billion Q3 profit on strong downstream performance
Thursday, October 30, 2008
Imperial Oil Ltd. (TSX:IMO) reported a 70 per cent jump in quarterly profits Thursday, surprising analysts with its strong refining and marketing performance.  more
Shell delays Athabasca oilsands expansion; Q3 profits up 22 per cent
Thursday, October 30, 2008
Royal Dutch Shell PLC (NYSE:RDS.A) has become the latest major oilsands player to put its expansion plans on ice amid soaring costs and weakening crude oil prices.  more
Sherritt cutting spending as commodities sag; Q3 profit more than doubles
Wednesday, October 29, 2008
Resources company Sherritt International Corp. (TSX:S) is "suspending significant expansion initiatives" at its metals division and putting a lid on costs because of a slumping economy while reporting strong third-quarter results.  more
Nexen CEO Fischer retiring; Q3 profit more than doubles to $886 million
Wednesday, October 29, 2008
Profits at international oil company Nexen Inc. (TSX:NXY) more than doubled in the third quarter, spurred by higher commodity prices, said president and CEO Charlie Fischer, who also announced plans to retire at the end of the year.  more
Oilsands still economic despite falling oil prices: Suncor CEO
Wednesday, October 29, 2008
The chief executive of Suncor Energy Inc. (TSX:SU) says he disagrees with the doom-and-gloom notion that falling crude oil prices have rendered the company's oilsands projects uneconomic.  more
Richmont Mines to acquire Patricia Mining's outstanding shares for $17 million
Tuesday, October 28, 2008
Richmont Mines Inc. (TSX:RIC) announced Monday that it will acquire Patricia Mining Corp. (TSXV:PAT) for approximately $17 million.  more
Rio Tinto investing US$228 million in Quebec hydroelectric upgrade
Tuesday, October 28, 2008
Global resources giant Rio Tinto said Tuesday it will spend US$228 million to install a new 225-megawatt turbine at Rio Tinto Alcan's Shipshaw power station in Saguenay, Que., as part of the company's investment in what it calls quality assets.  more
Inmet profit falls 35 per cent on lower metals prices, currency losses
Tuesday, October 28, 2008
Inmet Mining Corp. (TSX:IMN) says its third-quarter net income fell to $75 million, down 35 per cent from a year earlier, as the company suffered from lower zinc and copper prices, higher costs and a foreign exchange loss on a U.S.-dollar denominated credit facility.  more
CE Franklin Ltd. third quarter profits rise to $5.7 million from $4.1 million
Tuesday, October 28, 2008
CE Franklin Ltd. (TSX:CFT), a Calgary-based oilfield equipment and services company, reported its third quarter net profits rose to a record $5.7 million from $4.1 million a year earlier as revenues rose sharply.  more
Queensland: New coal mine progresses
Monday, October 27, 2008
A new thermal coal mine could be operating in central Queensland from 2012 after a deal was reached between miner Hancock Prospecting and contractor Thiess.  more
Rio disappointed by Western Australia open-access decision
Monday, October 27, 2008
Rio Tinto Ltd, the world's second largest iron ore producer, says it is disappointed by the federal government's decision to allow third-party access to its railway lines in Western Australia.  more
Noront CEO Nemis becomes 'chairman emeritus for life' in Rosseau deal
Monday, October 27, 2008
Noront Resources Ltd. (TSXV:NOT), under pressure from Rosseau Asset Management Ltd., has agreed to a board shakeup.  more
Kidd Creek Mine strike forces layoffs at Ontario Northland
Monday, October 27, 2008
A northern Ontario rail company says will lay off 29 employees as a result of a strike at the Kidd Creek Mine.  more
Cardero to sell Pampa de Pongo iron ore deposit to Nanjinzhao for US$200 million
Monday, October 27, 2008
Cardero Resource Corp. (TSX:CDU) has struck a deal with Nanjinzhao Group Co., Ltd., a private Chinese company, to sell its 100 per cent stake in the Pampa de Pongo iron ore property in Peru.  more
Liberty Mines scales back development at Redstone Ontario nickel mine
Monday, October 27, 2008
Liberty Mines Inc. (TSX:LBE) is looking for financing alternatives and curtailing development at its Redstone nickel mine southeast of Timmins in northern Ontario.  more
BHP Billiton says ready to seize the day
Friday, October 24, 2008
BHP Billiton Plc, the world's biggest miner, is poised to snap up smaller players struggling amid the gloom affecting the global economy.  more
Teck shares plunge on debt concerns and falling commodity prices; may sell assets
Friday, October 24, 2008
Mining giant Teck Ltd. (TSX:TCK.B) said Thursday it will make cuts across all of its businesses and could sell assets to help pay down its huge debt load created by the recent multibillion-dollar takeover of Fording Canadian Coal Trust (TSX:FDG.UN).  more
Rio says 09 bounce in China commodity demand inevitable
Thursday, October 23, 2008
Rio Tinto Ltd, the world's third largest mining company, says a bounce in China's commodity demand next year is inevitable as the effect of the global financial crisis on that country eases.  more
Newcrest says gold price outlook positive, production up
Thursday, October 23, 2008
Newcrest Mining Ltd, Australia's biggest gold company, says the financial market turmoil has provided the platform for a surge in the gold price in coming months.  more
  
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