Barrick CEO to forge ahead in Latin America despite past strains

The group announced better-than-expected results for the year on the back of higher prices and said it remains positive about the outlook for commodities markets. Anglo American (AAL.L: Quote) (AGLJ.J:Quote), the world's fourth-largest diversified miner,

“Worldwide, Canada, Australia, Brazil, and Chile will likely remain the best jurisdictions in which to invest in and develop mining projects. Each of these nations will likely continue to see economic growth and mining investment.” This comment comes from a report, 2011 Ranking of Countries for Mining Investment Where ‘Not to Invest’. Most of us will agree with the company’s statement “the mining industry is vital to the creation of wealth and prosperity in any country. Countries that stifle it with detrimental political, economic, financial, and regulatory policies should be challenged to make changes that are more accommodative to its success.”

The Association for Mineral Exploration British Columbia said on Wednesday that the agreement to compensate the miners for development work in the Flathead River basin are too low. "AME BC remains appalled by the lack of due process in reaching a timely and fair compensation agreement for the taking of mineral titles in the Flathead", stated Gavin C. Dirom, President & CEO of AME BC in a press release.

Barrick Gold reported on Thursday that net income in the fourth quarter was up 57% to US$947 million or 95 cents a share, a record result for the world's-largest gold miner. In the same quarter in 2009, Barrick reported US$604 million net income or 61 cents a share. The company produced 1.7 million ounces of gold at a total cash cost of $486 per ounce. Gold production in 2011 is expected to be similar to 2010.

Edmonton-based Shear Diamonds Ltd. has signed a mutual cooperation agreement with Nunavut Resources Corp. for development of the Jericho Diamond Mine in […]

Nature Conservancy Canada and The Nature Conservancy in the U.S. will pay two mining companies $9.4 million as compensation for development work […]

Vancouver-based Western Coal, which has agreed to a C$3,3-billion takeover by rival Walter Energy, is seeing improvements in the logistics systems it […]

Mining Weekly reports that iron-ore junior Alderon Resources, which has a project on the Labrador-Quebec border, has already been seeing interest from […]

IAMGOLD CEO Steve Letwin said the company’s Westwood gold development project in the Abitibi region of Quebec is expected to start production […]