PDAC: Mining is ‘close to home’ for Minister O’Regan

Chinese Novel Sunrise Investments has agreed to buy 48.7 million shares in SouthGobi —which was once worth over US$2.4 billion —for 35 cents per share in cash.

Allegations are based on internal documents obtained from the Canadian Department of Foreign Affairs, Trade and Development (DFATD).

But it is going ahead with a thorough review of permits related to a proposed processing plant at the site.

Current operational costs for producers have reached $37 to $40 per barrel. Benchmark U.S. crude, meanwhile, is trading at around $50 a barrel.

Canada's J.D. Irving Ltd. hopes to build a massive open-pit copper and gold mine at the state's Bald Mountain.

Industry fears too many juniors chasing too few dollars will equal too few new mines.

The potash and oil-rich province was placed at the top of the Fraser Institute's annual rank of mining companies.

The new rules only apply to future payments and not amounts already owed.

The figure represents 9% of the company's Canadian workforce, and it is due to "soft market conditions."