Kodiak reports long copper-gold intercepts from MPD project in BC
The latest intercepts indicate a “large zoned and significantly enriched copper-gold envelope at Gate,” which would be typical for porphyry-hosted mineralization, the company said.
The miner is receiving an upfront cash payment of $155 million for AuRico Metals’ royalty portfolio and about $45 million payable in four tranches for Kemess's silver output.
Despite mining contributing about 6 per cent of the country's GDP, a study revealed that almost six out of 10 of young Australians know nothing at all about mining careers.
Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.
Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.
By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye’s were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).