Mexico and Latin America
Toronto-based Primero Mining finally resolved the union issue that had caused its flagship San Dimas operation in Durango to be closed since February. The mine reopened on April 18.
The strike of Peruvian workers at Read more... →
The US Federal Reserve raised benchmark interest rates for only the third time in the past decade Wednesday, but revealed a cautious outlook for 2017 that caused gold prices to shoot up more than 2 percent to US$1,220/oz.
Federal Reserve Chairman Janet Yellen confirmed the US Central Bank would be raising its federal funds rate by […]Read more... →
IMPACT Silver’s net losses increased 35 percent to CA$1.9 million in 2016 from CA$1.4 million in 2015 as a result of an increase in general and administrative expenses due to stock options exercised by shareholders, the company announced in its annual report on Wednesday.
Mexico activities generated a net income of CA$48,840 in 2016, which […]Read more... →
Net earnings for New Gold (TSX: NGD) surged in 2016, reaching US$2.7 million from a loss of US$201.4 million in the 2015 period due to higher gold and silver prices and higher copper sales volumes. This was offset by operating troubles at the company’s Rainy River concession in Ontario, Canada.
Revenues dropped to US$683.8 million, […]Read more... →
Gold mining giant Agnico Eagle (NYSE:AEM, TSX:AEM) enjoyed a solid 2016 in terms of production, revealing full-year output of 1.6 million gold ounces. The Toronto-based company also increased gold reserves by 5 percent to 19.9 million ounces, and revealed plans to increase that figure to 2 million by 2020 after the Amaruq and Meliadine projects […]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... →
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. […]Read more... →
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 […]Read more... →
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.