Vancouver-based Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) reported earnings attributable to its shareholders of $461 million, or $0.78 per share. Adjusted quarterly profit was $450 million, or $0.76 per share, more than double the $198 million reported in the first quarter of 2010.
Image by Teck Resources Limited
Capstone Mining will acquire all the issued and outstanding shares of Far West Mining. Total transaction value will be Can$725 million.
Capstone released details of the agreement in a press release on Sunday.
On Monday morning, Capstone shares (TSE:CS) were down about 7% to $3.93 a share.
Canadian gold miner Anaconda Mining Inc posted a fifth-straight quarterly loss, but expenses were lower from a year-ago levels and production rose sequentially.
Net loss for the third quarter was $1.9 million, or 1.5 cents a share, compared with a loss of $2.2 million, or 2.5 cents per share, a year ago.
An $8.5 billion joint venture between Adriana Resources and Wuhan Iron and Steel Co. Ltd. would create the largest iron ore mine in Canada, capable of producing 50 million tonnes of iron ore over 100 years. Nunatsiaq Online reports on a preliminary economic assessment of the project released this week:
Metallurgical coal mining company Grande Cache Coal Corp cut its 2012 coal sales forecast as it expects production to be affected by the challenging mining conditions.
The company now sees coal sales volumes of 2.2-2.4 million tonnes, down from the previous forecast of 2.4-2.6 million tonnes.
St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") is pleased to announce that the Holt Mine has now achieved commercial production after operating for 90 days at an average daily throughput of between 450 to 500 tonnes per day ("tpd"). Operational statistics will be provided in the Company's upcoming scheduled first quarter 2011 earnings release on or about May 6, 2011. The Holt Mine and Mill are located on the eastern portion of the Company's extensive land package in the Timmins Mining District.