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Monday, May 12, 2008 5:16PM IDLE (GMT +12hrs)
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Gabriel Resources Q1 profit jumps to $11m, reversing year ago loss of $2.5M
Wednesday, May 7, 2008
Gabriel Resources Ltd. (TSX:GBU) has posted a first-quarter profit of $11 million, reversing a year-ago loss of $2.5 million thanks to foreign exchange gains.  more
Gammon Gold reverses year ago Q1 loss with $8.5M profit as gold prices soar
Wednesday, May 7, 2008
Gammon Gold Inc. (TSX:GAM) reported Wednesday a first-quarter profit of US$8.5 million, reversing a year-earlier loss of $10.3 million as revenue rose to $51.4 million from $43.5 million.  more
AMEC plc acquires Alberta in situ oil sands specialist for C$45 million
Tuesday, May 6, 2008
AMEC plc, an international engineering and project management company, says it has struck a deal to acquire Bower Damberger Rolseth Engineering Ltd., a specialist in-situ oilsands operations, from its owner-managers for Can$45 million in cash.  more
Barrick sees continued high gold prices due to strong demand, constrained supply
Tuesday, May 6, 2008
Greg Wilkins, on leave as chief executive of Barrick Gold Corp. (TSX:ABX) for health reasons, still delivered an upbeat message to shareholders Tuesday, saying demand from emerging markets and lack of new mines will keep gold prices high.  more
Alberta minister rejects public inquiry into 500 dead ducks in oilsands tailings pond
Tuesday, May 6, 2008
The Alberta government is rejecting calls for a public inquiry into the death of 500 ducks that landed on a toxic oilsands tailings pond.  more
AMEC plc acquires Alberta in situ oil sands specialist for C$45 million
Tuesday, May 6, 2008
AMEC plc, an international engineering and project management company, says it has struck a deal to acquire Bower Damberger Rolseth Engineering Ltd., a specialist in-situ oilsands operations, from its owner-managers for Can$45 million in cash.  more
Mining magnate will provide finances for new party
Monday, May 5, 2008
Mining magnate Clive Palmer has publicly pledged financial support for a new conservative party proposed for Queensland.  more
Taxpayers pay $117 million to mining giant: ACF
Monday, May 5, 2008
Taxpayers will subsidise the fuel bill of mining giant BHP Billiton by more than $100 million to help it work the world's largest uranium deposit, a conservation group claims.  more
Macarthur Coal says 3rd party talks continue, no formal proposal
Monday, May 5, 2008
Macarthur Coal Ltd, the supplier of more than a third of the world's pulverised coal, said discussions with a third party were continuing after a takeover approach late last month.  more
Oilsands giant advertises its apology in dead ducks controversy
Monday, May 5, 2008
The company behind a giant oilsands plant in northern Alberta has taken out full-page ads in several Canadian newspapers to apologize for the deaths of an estimated 500 ducks that landed on a toxic wastewater pond near Fort McMurray, Alta., earlier this week.  more
Northgate Q1 profit rises to $20.4M from $9.4M in year ago period
Friday, May 2, 2008
Northgate Minerals Corp. (TSX:NGX), a Vancouver-based gold and copper producer, has posted first-quarter net earnings of $20.4 million, up from $9.4 million in the same quarter last year.  more
Hundreds of ducks dead or dying after landing on Syncrude tailings pond
Wednesday, April 30, 2008
Hundreds of migrating ducks are dead or dying after landing on a tailings pond owned by Syncrude Canada Ltd. and ice surrounding the small lake full of toxic sludge is hampering rescue efforts.  more
Cornerstone and Newmont declare force majeure in Ecuador after mining halt
Wednesday, April 30, 2008
Cornerstone Capital Resources Inc. (TSXV:CGP) and Newmont Ventures Ltd. (NYSE:NEM) have declared force majeure on their Macara project in Ecuador after that country's government suspended industry activity for six months.  more
Yukon Zinc says Griffin Mining does not intend to raise its offer
Wednesday, April 30, 2008
Yukon Zinc Corp. (TSXV:YZC) said Wednesday that London-based Griffin Mining Ltd. does not plan to increase its takeover offer for the company in the face of another richer cash bid from a pair of Chinese companies.  more
Pennsylvania man charged with pushing his friend into coal mine
Tuesday, April 29, 2008
A man who called 911 after his friend survived a 150-metre fall at a strip mine was charged Monday with pushing him over the edge.  more
Centerra agrees to extend deadline for Kumtor agreements until June 1
Tuesday, April 29, 2008
Centerra Gold Inc. (TSX:CG) and parent Cameco Corp. (TSX:CCO) agreed Monday to extend a deadline for agreements with government of the Kyrgyz Republic regarding the Kumtor mine.  more
Fairborne Energy Ltd. makes offer for Grand Banks Energy Corporation
Tuesday, April 29, 2008
Fairborne Energy (TSX:FEL) is making a $112-million bid for Grand Banks Energy Corporation (TSXV:GBE), offering to pay $2.90 cash per share.  more
Canadian Oil Sands Trust cash flow soars, trust hikes distributions to unitholders
Tuesday, April 29, 2008
Canadian Oil Sands Trust (TSX:COS.UN), the largest partner in the Syncrude oilsands project, says a big jump in cash flow, net income and revenue during the first quarter has allowed it to increase its quarterly distribution by a third to $1 per unit.  more
Greenpeace activist who disrupted premier's speech is an NDP staffer
Tuesday, April 29, 2008
One of the Greenpeace protesters who disrupted Premier Ed Stelmach's speech to a Tory fundraising dinner is a member of the constituency staff for a New Democrat member of the legislature.  more
Total E&P Canada Ltd. offers to acquire Synenco Energy Inc. for $478 million
Monday, April 28, 2008
Major French oil company Total SA is expanding its presence in the Canadian oilsands with a Can$478-million bid for Synenco Energy Inc. (TSX:SYN) that could accelerate development of the Northern Lights project.  more
Silvercorp acquires Yangtze Mining in China for $61.95 million
Monday, April 28, 2008
Silvercorp Metals Inc. (TSX:SVM) plans to acquire Yangtze Mining Ltd. in China from Yangtze Gold Ltd. in a cash-and stock deal worth $61.95 million.  more
Nevoro buying Sheffield Resources and Moonlight copper project in deal worth $17M
Friday, April 25, 2008
Nevoro Inc. (TSX:NVR) announced plans to buy Sheffield Resources Ltd. (TSXV:SLD) and its Moonlight copper project in Nevada in a share-swap deal worth about $17 million.  more
Ecuador president pledges "responsible" mining will proceed, companies say
Friday, April 25, 2008
Shares in mining companies active in Ecuador perked up Friday after their executives conferred with President Rafael Correa and said he assured them that "responsible" mining will be allowed in the South American country.  more
Western Canadian Coal gets US$30 million financing to speed up development of Willow Creek Mine
Friday, April 25, 2008
Western Canadian Coal Corp (TSX:WTN), a Vancouver-based miner, says it has received US$30 million in bridge financing from Audley European Opportunities Master Fund Ltd.  more
Noront Resources encounters sample woes at Double Eagle
Friday, April 25, 2008
Noront Resources Ltd. (TSXV:NOT) says "laboratory failures" has resulted in unacceptable quality control on all the core samples done so far from its Double Eagle project in northern Ontario.  more
World's largest aluminum company buys big stake in Norilsk Nickel
Thursday, April 24, 2008
Russia's United Company Rusal, the world's largest aluminum company, said Thursday that it has bought a 25-per cent stake in MMC Norilsk Nickel, the planet's largest nickel and palladium company.  more
Suncor reports Q1 profit of $708 million, up from year ago $576 million
Thursday, April 24, 2008
Reaping the benefits of record-high oil prices, Suncor Energy Inc. (TSX:SU) said Thursday it netted $708 million during the first quarter of 2008, up from a year-ago $576 million.  more
Rio Tinto defends its rejection of BHP bid after rivals attack
Thursday, April 24, 2008
Rio Tinto Ltd has reiterated the inadequacy of a $US170 billion ($A179.36 billion) bid to take over the group by BHP Billiton Ltd, after the chief executive of its rival launched a stinging attack.  more
No new mining without aboriginal consent until law is changed: Chiefs
Thursday, April 24, 2008
The province can't stop mining companies from staking claims to Crown land while the Liberals go through the slow process of overhauling the 100-year-old Mining Act, the government said Thursday amid calls for an immediate moratorium on industrial activity on traditional First Nations territory.  more
PotashCorp Q1 profit blooms to US$566 million as fertilizer prices keep booming
Thursday, April 24, 2008
Potash Corp. of Saskatchewan Inc. (TSX:POT), as expected, reaped record earnings in the first quarter with net income of US$566 million, up by more than 180 per cent from $198 million a year earlier.  more
Newmont Mining 1Q profit surges on strong gold pricing
Thursday, April 24, 2008
Newmont Mining Corp., one of the world's top gold producers, says its first-quarter earnings surged as gold prices spiked amid weakness in global financial markets and the U.S. dollar.   more
Teck Cominco predicts Chinese demand to bring record earnings in 2008
Wednesday, April 23, 2008
Mining and metals company Teck Cominco Ltd. (TSX:TCK.B) is predicting record earnings in the coming quarters due to strong demand for resources in China, and despite a U.S. economic downturn.  more
Lundin Mining warns of spiralling costs at Tenke copper cobalt mine in Congo
Wednesday, April 23, 2008
Lundin Mining Corp. (TSX:LUN) disclosed Wednesday that costs are spiralling higher at the Tenke copper-cobalt project under construction in the Democratic Republic of Congo.  more
Consolidated Thompson Iron Mines to acquire Quinto Mining in all stock deal
Tuesday, April 22, 2008
Consolidated Thompson Iron Mines Ltd. (TSX:CLM) has signed an agreement to acquire Quinto Mining Corp. (TSXV:QU) in an all-stock transaction.  more
Teck Cominco reports first quarter profit down from a year ago, revenue up
Tuesday, April 22, 2008
Teck Cominco Ltd. (TSX:TCK.B) said Monday it earned $345 million in its first quarter, down from a year ago, but added that strong coal and metal prices were expected to boost earnings in the second half of the year.  more
Yukon Zinc to be acquired by London based Griffin Mining in $93.9M stock swap
Tuesday, April 22, 2008
London-based Griffin Mining Ltd. (LSE:GFM) has agreed to acquire Yukon Zinc Corp. (TSXV:YZC) in stock-swap deal that values the Canadian miner at about $93.9 million.  more
Fording Canadian Coal Trust quarterly profit slumps on sliding sales
Tuesday, April 22, 2008
Fording Canadian Coal Trust (TSX:FDG.UN) units declined more than three per cent from a record high Tuesday after the trust reported a bare $500,000 in first-quarter net income, down from $76.8 million a year earlier, as revenue declined to $332 million from $350 million.  more
Husky Energy first quarter net income rises 36 per cent to $887 million
Tuesday, April 22, 2008
Husky Energy Inc. (TSX:HSE) boosted its first-quarter net income by more than a third to $887 million and raised its dividend by 21 per cent Monday as higher crude prices more than offset a decline in production.  more
Striking contract workers step up protests against Chile's state copper company
Monday, April 21, 2008
Striking contract workers at Chile's copper giant Codelco stepped up their protests Friday, blocking access to mines and attacking buses carrying miners.  more
Record coal prices a boost to producers but not consolidation, consumers: analysts
Monday, April 21, 2008
Canadian coal producers will enjoy the benefit of high coal prices for the coming year as those soar to record levels, but while the increases will give producers' projects a boost, it won't lead to the takeover frenzy that has consolidated the iron, steel and base metal sectors.  more
Copper theft rising in Canada alongside global commodity prices
Monday, April 21, 2008
Monitoring the price of copper is not usually considered routine police work.  more
First Quantum Minerals to take over Scandinavian Minerals in $281M deal
Monday, April 21, 2008
First Quantum Minerals Ltd. (TSX:FM) is jumping from Africa into Finland with an agreement to take over Scandinavian Minerals Ltd. (TSX:SGL) in a deal valued at Can$281 million.  more
LPD Holdings buys 30 per cent stake in Macarthur Minerals project for $9M
Friday, April 18, 2008
Macarthur Minerals Ltd. (TSV:MMS) has sold a 30 per cent stake in its Lake Giles iron-ore project in Western Australia to LPD Holdings (Aust) Pty for C$9 million.  more
Acadian Mining announces proposed spinout of gold assets
Friday, April 18, 2008
Acadian Mining Corp. (TSX:ADA), a junior mineral developer based in Halifax, says it plans to spin off its gold exploration properties into a new publicly traded company.  more
ATW buys Batavia Mining gold copper project in Australia: A$13M and 2M shares
Friday, April 18, 2008
ATW Venture Corp. (TSXV:ATW) has finalized an agreement to buy the Gullewa gold-copper project in Australia from Batavia Mining Ltd. (ASX:BTV) for A$13 million payable over three years and two million ATW shares.  more
Lougheed cautions Sask. premier on 'orderly development' during economic boom
Thursday, April 17, 2008
A legendary politician who led Alberta during its last oil and gas boom is warning Saskatchewan's government about rushing into development too quickly.  more
Northwest Power Line could attract investment and create jobs, study says
Thursday, April 17, 2008
A power transmission line in northern B.C. could help create thousands of jobs and attract billions in investment, the group pushing for the development of the Northwest power line said Wednesday.  more
PotashCorp announces $400 a tonne price rise in 2008 Canpotex Sinofert deal
Wednesday, April 16, 2008
Saskatchewan potash producers have won a US$400-a-tonne price increase for this year's sales to massive Chinese buyer Sinofert Holdings Ltd., a move that lifted the shares of Canadian and U.S. fertilizer producers on Wednesday.  more
Freeport McMoRan executives' compensation doubled 2007 as metal prices up
Tuesday, April 15, 2008
Freeport-McMoRan Copper & Gold Inc.'s top two executives more than doubled their compensation last year as precious metals prices soared and company stock doubled.  more
Suncor Energy to build and pay for $55M highway interchange near Fort McMurray
Tuesday, April 15, 2008
Suncor Energy (TSX:SU) has agreed to build and pay for a $55-million interchange on Highway 63 about 25 kilometres north of Fort McMurray.  more
Oil climbs to intraday record above US$113 a barrel on dollar worries, supply concerns
Tuesday, April 15, 2008
Oil prices set yet another intraday trading record Tuesday, surging close to US$114 a barrel as the U.S. dollar fell and crude oil shipments along one U.S. pipeline were said to be moving below capacity.  more
SEC complaint in Las Vegas alleges bogus diamond stock scheme
Monday, April 14, 2008
The federal Securities and Exchange Commission is accusing two men in Nevada of orchestrating a stock scheme that reaped millions of dollars selling penny shares in a bogus diamond and gold mining company.  more
 
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