Cecilia Jamasmie , Editor-in-Chief

NovaGold profit tumbles to $16.8 million but on track with sale of Galore Creek stake

Canadian NovaGold Resources Inc. (TSX:NG) said its net income fell to $16.8 million in the first quarter pushed by the elimination of foreign exchange gains because of a new arrangement with warrant holders.

Cecilia Jamasmie | April 13, 2012 | 3:34 pm

Doe Run Peru to be liquidated after rejected restructuring of La Oroya smelter

Metals producer Doe Run Peru’s creditors rejected a restructuring plan the company presented with a view to restarting operations at the La Oroya smelter, said in a statement the Energy and Mines Ministry, Jorge Merino Tafur.

Cecilia Jamasmie | April 13, 2012 | 1:35 pm

Melting Arctic is nothing but good news for the mining industry: Lloyd’s/Chatham House

The melting ice cap in the Arctic sea could open up access to immense mineral reserves, attracting billions of dollars in investment, but also bringing with it unique risks and challenges, says Lloyd’s/Chatham House latest Risk Insight report.

Cecilia Jamasmie | April 13, 2012 | 12:36 pm

Minerals Council of Australia restarts anti tax ad campaign

The Minerals Council of Australia (MCA) resumed today an ad campaign initially launched in July last year, attacking alleged hikes on the federal government's mining and carbon taxes.

Cecilia Jamasmie | April 13, 2012 | 10:53 am

Indonesia not only wants to own foreign mining co’s, now it will impose higher taxes on them too

Indonesia wants to have its mining cake and eat it too, as the country, one of the world's largest exporters of copper and coal, will speed up a tax on mining exports, the industry minister Mohamad S. Hidayat told Reuters today.

Cecilia Jamasmie | April 12, 2012 | 2:50 pm

Canadian Eldorado’s gold production keeps growing

Canadian miner Eldorado Gold (TSX:ELD) (NYSE:EGO), which recently closed its acquisition of European Goldfields, expects its yearly gold production to touch 1.7 million ounces within five years as it brings new mines into production.

Cecilia Jamasmie | April 12, 2012 | 1:40 pm

Chile’s biggest steel and iron-ore producer to invest US$700 million this year

Chile's Compañía de Acero del Pacífico (CAP) will invest nearly US$700 million this year to develop its iron ore projects in the country, president Roberto de Andraca told reporters attending Expomin, one of the world's most important mining exhibitions, in Santiago.

Cecilia Jamasmie | April 12, 2012 | 1:30 pm

Lynas wins a battle, but war with Malaysians who oppose rare earth plant goes on

In what could be considered a slight victory for embattled Australian rare earths miner Lynas Corporation (ASX:LYC), the Malaysian High Court ruled today against a request to review a recent decision to grant the Lynas a temporary licence (TOL) for its processing plant.

Cecilia Jamasmie | April 12, 2012 | 12:35 pm

One of the 33 Chilean miners trapped in 2010 ventures underground for first time since rescue

More than one billion people watched the rescue of 33 Chilean miners from a collapsed mine in 2010. Today, one of them has decided to venture underground for the first time since the accident during a tour to a Saskatchewan potash mine.

Cecilia Jamasmie | April 11, 2012 | 3:42 pm

Gold could hike to $2,000 by year-end: Thomson Reuters

Gold prices could fall below $1,550, returning to record highs by the end of this year, Thomson Reuters GFMS, a top precious metals consultancy, said this morning.

Cecilia Jamasmie | April 11, 2012 | 3:18 pm

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