Top Mexican miners, Grupo México, Industrias Peñoles, Fresnillo and Minera Frisco owe almost US$180 million in mining royalties for 2015. According to Mexico’s tax authority (SAT), GMéxico and Fresnillo paid below government estimates while Frisco and Peñoles paid no royalties in 2015.
Alio Gold, formerly Timmins Gold, officially began trading under […]Read more... →
Capstone Mining recorded a net loss of US$197.4 million for 2016, an improvement on the net loss of US$251.5 million it reported for 2015. This was caused by a loss on commodity derivatives and the disposal of equipment and mineral property interests among other factors. Revenue additionally increased 26 percent, to US$529.4 million in 2016 […]Read more... →
In 4Q16, Goldcorp reported net earnings of US$101 million, up from the US$4.3 billion net loss it recorded in the fourth quarter of the previous year. The improved position is due to the company’s effort to decentralize its business.
This was effective in “significantly reducing operating costs, selling non-core assets and reinvesting that capital into […]Read more... →
While most industries are frantically trying to predict the many possible outcomes from a Donald Trump presidency in the US, mining companies remain oddly serene in what appears to be the eye of the storm.
A deeper look into the consequences of the Trump Effect is a good reminder to always read […]Read more... →
Weekly News Roundup
Goldcorp announced a US$438 million-dollar deal with Canadian junior Leagold for the sale of its Los Filos gold mine in Guerrero last Thursday.
Interview of the week: Uriel Garcia from Mercuria.
Pan American Silver said that two of its Mexican mines […]Read more... →
The distribution of the mining fund begins with information provided by the Ministry of Economy that helps decide the proportion of resources each state and municipality should receive. Karina Rodríguez, partner at Pizarro-Suárez & Rodríguez Matus Abogados, is concerned about the effect the taxes could have on the development of the mining industry. “The law […]Read more... →
Fortuna Silver reported a 67 percent increase in sales thanks to its pumped-up levels of production.
Meanwhile, Primero Mining’s third quarter proved to be challenging with a reported net loss […]Read more... →
Avino Silver & Gold Mines (NYSE:ASM) revenues experienced a 163 percent spike between 3Q16 and 3Q15, from US$3.7 million to US$9.8 million due to the declared commercial production at the Avino Mine and a higher priced metal market.
David Wolfin, President, CEO & Director of Avino Silver & Gold Mines stated in the 3Q16 financial […]Read more... →
Primero Mining’s (TSE:P) third quarter proved to be challenging as it reached a net loss of US$11.7 million compared to a loss of US$5.4 million in 3Q15. The plunge was due to labor disruptions and lack of achievement of mine plans that reduced underground development rates and delayed ventilation projects.
Revenue dropped 28 percent with […]Read more... →
Argonaut Gold revenues jumped to US$35 million in 3Q16 from 3Q15 totals of US$32 million due to an increase in the average realized cost per gold ounce.
The Canadian operator’s total production in 3Q16 dropped 9 percent to 26.3 million gold equivalent ounces (GEO) in comparison to 28.8 GEO in 3Q15. This was due to […]Read more... →