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Nov 21, 2012

Talison shares drop as Rockwood rejects bidding war

TORONTO, Nov 21 (Reuters) – Shares of Talison Lithium Ltd
dropped more than 7 percent on Wednesday after suitor
Rockwood Holdings Inc said it was not interested in a bidding
war, even as Talison indicated it plans to open talks with a
rival bidder.

Rockwood, a U.S.-based chemical producer, said late
on Tuesday that Australian authorities had approved its C$724
million ($725.71 million) takeover of Perth-based,
Toronto-listed Talison.

Nov 8, 2012

Molycorp posts loss on rare earth prices

Nov 8 (Reuters) – Rare earth producer Molycorp Inc
reported a third-quarter loss on Thursday, as lower rare earth
prices and higher production costs outweighed a boost in output.

The company also said the expansion and modernization of its
Mountain Pass rare earth project in California is on track to be
completed by the end of the year, with some 80 percent of
facilities already operating at their Phase 1 expanded capacity.

Nov 7, 2012

Goldcorp briefly eclipses Barrick by market cap

TORONTO, Nov 7 (Reuters) – Goldcorp Inc briefly
surpassed Barrick Gold Corp to become the world’s
biggest gold miner by market capitalization this week, even
though Barrick owns more mines and produces far more gold than
its growth-focused peer.

Barrick battled back late on Wednesday to land slightly
above Goldcorp.

Goldcorp has been creeping up on Barrick for years, but this
week was the first time the smaller producer surpassed the
longtime top dog, which is under pressure due to delays and
rising costs at its massive Pascua-Lama gold and silver project
on the border between Chile and Argentina.

Nov 7, 2012

Goldcorp takes Barrick’s thunder as top gold miner by market cap

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
America.

Nov 1, 2012

Barrick’s Pascua-Lama costs rise again, shares dive

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.

Oct 29, 2012

Yamana Gold profit falls on metal prices

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.

Oct 28, 2012

Miners take “rail-veyors” and robots to automated future

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.

Oct 25, 2012

Goldcorp profit beats on strong precious metal sales

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 25, 2012

Canada province probes complaint over China workers

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.

Oct 5, 2012

Miners pressured as uncertainty sours uranium market

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.

    • About Julie

      "I currently cover mining and minerals out of the Toronto bureau, where I focus on uranium, silver, platinum, lithium and REEs. Prior to moving to the mining sector, I worked as an online editor and video producer for Reuters.com. I started at Reuters as a TV intern in Chile and before that, I freelanced in Eastern Europe and spent eight months living in the Galapagos Islands."
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