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Metals and Mining Precious Metals and Mining

  • TORONTO, Feb 17- Canada's benchmark stock index ended its winning streak on Friday, pulling back from the previous day's record high, pressured by losses for the materials group as prices of base and precious metals fell. The Toronto Stock Exchange's S&P/TSX composite index closed down 25.54 points, or 0.16 percent, at 15,838.63. "This is perfectly healthy," said...

  • TORONTO/ VANCOUVER, Feb 17- After five years of painful belt-tightening, the world's biggest gold miners are starting to cautiously loosen their purse strings and spend more money to find new deposits and build mines. "They have excess cash flow to spend that's not going to be solely dedicated to interest expense and paying down debt, and so they're using that on...

  • Feb 17- Gold held firm early on Friday as the dollar hovered near one-week lows, putting the precious metal on track for a third week of gains amid political uncertainties in the U.S. and Europe. President Donald Trump's policies, as well as elections in the Netherlands, France and Germany this year, have fueled gold's rise to a peak of $1,244.67 on Feb. 8.

  • OTTAWA, Feb 16- Canada's main stock index edged up on Thursday to notch a fresh record high as Barrick Gold Corp jumped on the company's better-than-expected profits, though a drop in shares of Sun Life helped keep overall gains in check. Goldcorp Inc also drove the market higher as lower costs at its gold mines in the Americas helped its quarterly profit beat...

  • Feb 15- Agnico Eagle Mines said on Wednesday it would invest more than $1.2 billion in building a gold mine in Canada's Arctic and expanding another, making it one of the few gold companies to be constructing mines at a time when industry output is shrinking. Both Meliadine and Amaruq are in Canada's Nunavut territory. Meliadine's capital cost is roughly $900...

  • VANCOUVER, British Columbia _ New Gold Inc. on Wednesday reported a loss of $19.9 million in its fourth quarter. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • TORONTO _ Kinross Gold Corp. on Wednesday reported a loss of $116.5 million in its fourth quarter. The Toronto- based company said it had a loss of 9 cents per share. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

  • The Toronto- based miner, which is hiking its dividend to 3 cents from 2 cents a share, said it will expand its hunt for new gold beyond trusted core districts and projects, to so-called' greenfield' areas. Some 80 percent of the $185- $225 million exploration budget is earmarked for the Americas, with much of the remainder for its African unit, Acacia.

  • Feb 15- Some 1,000 unionized employees at Primero Mining Corp have gone on strike at the Canadian gold miner's San Dimas mine in Mexico, halting mining and milling operations, the company and union said on Wednesday. The National Union of Mine, Metal, Steel and Allied Workers of the Mexican Republic said about 1,000 workers began the strike at midnight.

  • TORONTO _ Barrick Gold Corp. on Wednesday reported fourth-quarter net income of $425 million, after reporting a loss in the same period a year earlier. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share. Barrick Gold shares have climbed 21 percent since the beginning of the year.

  • Feb 15- Unionized employees at Primero Mining Corp have gone on strike, resulting in a complete halt to mining and milling operations at the Canadian gold miner's San Dimas mine in Mexico, the company said on Wednesday. Depending on its duration, the strike could have a negative impact on the company's 2017 production, Primero said. As a result, it has decided to...

  • Feb 15- Goldcorp Inc reported a higher-than-expected fourth-quarter profit on Wednesday compared to a steep loss a year ago, as much lower costs at its gold mines in the Americas and a higher gold price offset lower production. That compared with a loss of $4.3 billion, or $5.14 per share, a year earlier when the Canadian miner wrote down the value of a mine in...

  • TORONTO, Feb 15- Barrick Gold Corp said on Wednesday that fourth-quarter profits rose from last year, reflecting further cost cuts and a rise in metal prices, as the world's largest gold miner increased its dividend and planned to further pare its debt. The Toronto- based miner reported an adjusted profit of $255 million, or 22 cents a share, up from $91 million, or 8...

  • TORONTO, Feb 15- Canadian miner Teck Resources Ltd reported a better-than-expected quarterly profit on Wednesday, lifted by a surge in the price of coal for steelmaking, but said weaker demand in recent weeks was eroding prices and sales. Shares of the Vancouver- based company, which also mines copper, gold and silver, were down 4.3 percent at C $31.27 in early...

  • JOHANNESBURG, Feb 15- Anglo American Platinum, the world's top producer of the precious metal, announced a swing back into profit on Wednesday, along with the sale of another mine, but said it was still not ready to resume dividend payments. On Wednesday Amplats, which is majority-owned by Anglo American, announced it was also selling its Union mine to unlisted...

  • VANCOUVER, British Columbia _ Pan American Silver Corp. on Tuesday reported fourth-quarter net income of $21.8 million, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share. Pan American Silver shares have climbed 38 percent since the...

  • ULAANBAATAR, Mongolia— Mongolian lawmakers have told the government to revoke a private company's purchase of a stake in a major copper mine, a move the president warned could scare away investors at a time when the economy is already struggling. The move highlights the political sensitivity of Mongolia's copper, gold and other mineral wealth, the source of...

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that the price of gold would not likely trigger an industry-wide wave of new mining projects until it reached at least $1,350 per ounce. Victor Gobitz told Reuters in an interview that gold's recent rally, bringing it to about $1,225 an ounce on Tuesday, had...

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that the price of gold will not likely trigger an industry-wide wave of new mining projects until it reaches at least $1,350 per ounce. Victor Gobitz told Reuters that gold's recent rally, combined with the company's rising production, has bolstered...

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that he does not think the price of gold will trigger the mining industry to initiate new mining projects until it reaches at least $1,350 per ounce.