TORONTO, Nov 7 (Reuters) – Goldcorp Inc has surpassed
Barrick Gold Corp to become the world’s biggest gold
miner by market capitalization, even though Barrick owns more
mines and produces far more gold than its growth-focused peer.
Goldcorp has been creeping up on Barrick for years, but this
is the first time the smaller producer has surpassed the
longtime top dog, which is under pressure due to delays and
rising costs at its massive Pascua-Lama project in South
By Julie Gordon
(Reuters) – Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz) reported a sharp drop in third-quarter profit on Thursday and again increased its cost estimate to build the massive Pascua-Lama mine, pushing back the date when production at the project will begin.
Shares of the world’s top gold miner dropped more than 9 percent after Barrick delayed the mine’s start date to the second half of 2014 from a previous target of mid 2014.
TORONTO, Oct 29 (Reuters) – Canadian miner Yamana Gold Inc
reported a 6 percent fall in third-quarter adjusted
profit on Monday as lower metal prices and higher production
costs outweighed strong gold sales volumes.
The mid-tier gold miner, which is in the process of building
three new mines, maintained its production outlook for the year
and said its development projects are on time and on budget.
SUDBURY, Ontario (Reuters) – In an office trailer parked outside a mine shaft in northern Ontario, operator Carolyn St-Jean leans back in her chair and monitors a machine loading nickel-rich ore into rail cars deep underground.
Once filled, the automated train will snake through a series of narrow tunnels, emerge from a rocky outcropping, then loop past St-Jean’s window and dump its payload for sorting.
TORONTO (Reuters) – Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz), the No. 2 Canadian gold miner, reported a 48 percent increase in quarterly profit on Thursday, as improved performance at its Red Lake and Penasquito mines led to strong gold and silver sales.
On an adjusted basis, profit slipped but still handily beat analysts’ expectations, sending its shares up more than 5 percent on the Toronto Stock Exchange.
Oct 24 (Reuters) – British Columbia authorities said on
Wednesday they are investigating complaints by a labor group
that local mining jobs are being advertised in China by
recruiters in exchange for hefty recruitment fees.
The investigation stems from accusations by the B.C.
Federation of Labor that recruitment firms in China are charging
as much as C$12,500 (US$12,600) in fees to find temporary jobs
for Chinese laborers at a mining development in the province
owned by HD Mining International Ltd.
TORONTO, Oct 5 (Reuters) – Eighteen months after the
Fukushima nuclear meltdown, the spot price for uranium hit a
two-year low this week, putting the squeeze on the already
depressed shares of uranium miners.
With a looming election keeping Japan from making a decision
on how much, if any, of its nuclear reactor fleet it will keep,
and slowing growth in China weighing on the broader resource
sector, it will likely be months before uranium prices start
moving back toward pre-Fukushima levels.
TORONTO (Reuters) – Canadian police may have caught a break in the sweetest crime of the year, seizing thousands of gallons of maple syrup from an exporter on suspicions that it was part of a cache of syrup that went missing from a Quebec warehouse in late August.
Quebec provincial police removed about 1,000 barrels, or 600,000 pounds, of maple syrup from S.K. Export Inc’s storage facility in Kedgwick in the neighboring province of New Brunswick, according to the company’s owner, Etienne St-Pierre.
TORONTO (Reuters) – “Silver Linings Playbook,” a dramatic comedy about a man who returns to his family home after eight months in a mental institution, won the top prize at the Toronto International Film Festival on Sunday.
The film, by “The Fighter” director David O. Russell and starring Bradley Cooper and Jennifer Lawrence, took home the BlackBerry People’s Choice award for best film at the 37th edition of the festival.
TORONTO (Reuters) – Documentaries are making waves at the Toronto film festival, exploring subjects ranging from abuse in the Catholic Church to brutal massacres in Indonesia, often in novel ways.
For the first time ever in Toronto, two non-music based documentaries were given the star treatment at the festival, with gala screenings of Liz Garbus’ “Love, Marilyn” about Marilyn Monroe and Shola Lynch’s “Free Angela and All Political Prisoners” about U.S. civil rights activist Angela Davis.