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 […]

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Sierra Metals’ net income jumped 129 percent in 2016, reaching US$17.2 million compared to US$7.5 million in 2015, the company announced in its report on Wednesday. This was a result of increased revenues generated by operational improvements and record production levels.

Revenues increased 21 percent in 2016 to US$97.3 million compared to US$80.1 in 2015. […]

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Net income for Pan American Silver (TSX: PAAS) shot up in 2016, reaching US$101.8 million from a net loss of US$231.6 million for the corresponding 2015 period. This was a result of increased revenue, lower costs and the sale of its shares in the Shalipayco project in Peru.

Revenues for the year reached US$774.8 […]

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Mexico 

Marlin Gold Posted Record Production at La Trinidad in January.

Alamos Gold completed its previously announced US$250 million bought-deal financing, while Fortuna Silver closed a similar deal worth US$74.8 million.

As results season gets underway, Coeur Mining, FLSmidth, Cummins, Emerson and Timken all released quarterly reports.

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Cummins’ net income remained stable in 2016, dropping only slightly to US$1.394 billion from US$1.399 billion in 2015, according to figures released by the company in its annual report. This was due to the negative impact on revenues from a strong US dollar, which in turn was mitigated by increased revenues in China.

Net sales […]

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Bearings manufacturer Timken (NYSE: TKR) reported a marked drop in sales in the last quarter of 2016 as the company continued to suffer from weak demand across most markets.

Net sales fell 8.3 percent to US$655 million in 4Q16 from US$714 million during the same period a year ago, contributing to a 25 percent drop […]

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Coeur Mining posted a staggering jump in net income for 2016 to US$55.4 million, up from a loss of US$367 million in 2015. This was a result of the operator’s continued efforts to streamline operations, reduce administrative costs, reduce debt and divest non-key assets.

 

“2016 marked a key inflection point for Coeur,” said Read more...

Engineering giant FLSmidth (CPH: FLS) had a strong end to 2016, reporting a profit of 182 million Danish kroner (US$26.1 million) in 4Q16, a 691 percent increase on 4Q15. The company also reported a rise of 4 percent in quarterly revenue to 5.5 billion kroner (US$789 million), the highest three-month figure for two years.

After […]

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Emerson’s (NYSE: EMR) net earnings dropped 10.8 percent for 1Q17 ending Dec. 31, 2016 to US$315 million from US$353 million in 1Q16, the company announced on Tuesday.

Net sales decreased slightly, by 3 percent to US$3.2 billion in 1Q17 from US$3.3 billion.

According to Emerson Chairman and CEO David Farr, expectations for the quarter were […]

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Mexico

The mining community in Mexico gathered at the Mexico Mining Forum to discuss the most pressing issues facing the sector in 2017.

During his visit to the forum, Canadian Minister for Natural Resources James Gordon Carr signed a MoU with Mexico’s Economy Secretary Ildefonso Guajardo.

Mario Alfonso Cantú, Undersecretary for Mining […]

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