Amid gold price whipsaw, M&A heats up in the mining space
News of a vaccine with a 90% success rate caused stocks to soar on Monday with the Dow and S&P 500 setting new records, while gold whipsawed $118 lower intraday. The largest single day gold move lower in over seven years nullified its breakout from a 3-month descending wedge last Friday, and since then has […]
Pure Gold Mining reports 3Q results, says on track for year-end production at Red Lake
Pure Gold Mining Inc (CVE:PGM) (LON:PUR) Friday announced its third-quarter 2020 financial and operating results, saying the development of its PureGold Mine in Red Lake, Ontario, is continuing at a “rapid pace” and the company remains on track to bring the first ore to the mill before year-end. The company raised about $7.1 million during […]
Gold and silver news: are precious metals a buy after the US election?
Gold and silver prices rallied strongly earlier this year, rising to multi-year highs in August. The markets had been moving sideways since but have become more volatile in recent days. The gold price has moved up by 4 per cent and back down so far this month, while silver spiked by 7 per cent before retreating. That has investors asking, did the […]
SLAM Exploration Ltd. Reports Elevated Gold Values From Soil Survey
SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce results for 282 soil samples collected from the vicinity of Zone 9 where new discoveries of quartz veins No 18 and No 22 with multiple sites of visible gold were recently reported in the Company’s news releases issued October 20, 2020 and October 26, 2020. Zone 9 is located […]
Tata Steel Q2 results: Net profit plunges 63% YoY to Rs 1,546 crore; revenue rises 7%
Tata Steel Ltd. is in talks with Swedish steelmaker SSAB AB to sell its Netherlands unit and reduce the burden from its cash-draining European operations. The company started discussions with SSAB for the potential acquisition of Tata Steel Netherlands including the Ijmuiden steelworks, it said in a media statement announcing the quarterly earnings. “Based on […]
SSAB eyes Tata Steel’s Dutch assets as European consolidation picks up
Swedish steelmaker SSAB SSABa.ST is in talks with Tata Steel TISC.NS about potentially buying the Indian group’s Dutch steel mill and related assets, it said on Friday.FILE PHOTO: Red-hot steel plates pass through a press at the Tata steel plant in Ijmuiden, Netherlands April 3, 2019. REUTERS/Yves Herman/File Photo “SSAB has participated in several different discussions concerning consolidations in […]
PyroGenesis Provides Update on its Iron Ore Pelletization Torch Business
PyroGenesis Canada Inc. (TSX-V: PYR; OTCQB: PYRNF; FRA: 8PY) (the “Company” or “PyroGenesis”), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and products, is pleased to provide an update on the Company’s iron ore pelletization plasma torch business. Mr. P. Peter Pascali, CEO and Chair of PyroGenesis, provides this update in […]
Vale, Chinese port sign $651 million deal on iron ore storage, processing
Brazil’s Vale VALE3.SA and China’s Ningbo Zhoushan Port 601018.SS have signed a deal to invest around 4.3 billion yuan ($650.6 million) in iron ore storage and processing facilities in Zhejiang, a local government statement said on Friday. The move follows the two firms’ inauguration of a grinding hub at the port in eastern China in August and further boosts […]
Atlantic coking coal: Chinese demand stays strong
US coking coal prices were largely firm at the end of this week held up by strong Chinese demand for selected US low-volatile and mid-volatile coals, despite the fob Australian premium hard coking coal price slumping to a four-year low of $99.40/t today. The Argus daily fob Hampton Roads assessment for high-volatile A coking coal was unchanged […]
Thyssenkrupp considers carve-out of steel unit – minister
DUESSELDORF — Thyssenkrupp is considering carving out its steel division and putting it under Germany’s economic stabilization fund in a bid to rescue the ailing business, a senior policymaker said on Friday. Andreas Pinkwart, economy minister of North Rhine-Westphalia — Germany’s most populous state where Thyssenkrupp is based — said talks with the conglomerate over […]