Adamus Resources Limited (ASX: ADU) is pleased to announce the Nzema Gold Project in Ghana, West Africa has achieved commercial production effective 1 April 2011.
Canadian precious metals company North American Palladium Ltd's first-quarter loss narrowed, but the company cut its 2011 palladium production forecast as it shifts focus to development from production.
The company cut its full-year production forecast to 145,000-155,000 ounces of palladium from its earlier view of 165,000-175,000 ounces.
Shares of Silver Wheaton (SLW.TO: Quote) rose on Monday, after the miner's quarterly profit more than doubled, helped by record production and soaring silver prices.
Net profit rose to $122.2 million, or 34 cents a share, from $50.6 million, or 13 cents a share, a year ago.
Despite missing Wall Street expectations, Coeur d'Alene Mines CEO Dennis Wheeler predicted 2011 "to be the company's best year ever by a wide margin with record cash flows driven by 20 million ounces of silver production and 250,000 ounces of gold production."
Silver production for the first quarter of the year jumped to 4.1 million ounces, compared to 3.4 million ounces in the first-quarter 2010.
Ausenco has been awarded a contract to manage the C$237 million expansion of the Gilbraltar copper-molybdenum project in Canada for Taseko Mine. Ausenco’s Minerals & Metals business will manage on an EPCM basis the Gibraltar Development Plan 3 (GDP3) expansion, which will include the construction of a 30,000 t/d concentrator to complement the existing, currently operating, 55,000 t/d facility.
Baja Mining Corp. (TSX:BAJ) is pleased to announce the commencement of surface mining activities at its 70% owned Boleo copper-cobalt-zinc project ("Boleo"), located near Santa Rosalia, Baja California Sur, Mexico.
Beginning in the week commencing May 2, 2011, the Company's surface mining team completed an initial machine operator training program and commenced mining activities to develop the surface facilities and underground mining portals that are scheduled for operation later this year.
The price of gold reversed half of a 1% rally to $1510 per ounce in London on Monday, easing back as the US Dollar rose on the forex market and European stock markets fell hard, but then moved back up in later trading.
US crude oil contracts stalled after a 2.7% rally took them back to $100 per barrel.
Canada’s First Quantum Minerals (FM.TO:Quote) reported a 37 percent rise in its first-quarter profit, as declines in copper production were more than […]
Advanced Explorations Inc. (TSX-V:AXI) is pleased to announce progress in the ongoing Feasibility Study work for the C-Zone of its Roche Bay Iron Project in Nunavut, northern Canada. The Company has concluded multiple advantages may be drawn from an increased production of up to 5 million tonnes per year of concentrate (65%-66% Fe grade). This represents a 66% increase in production from the previously announced base case (3 million tonnes per year).
