Friday, August 18, 2017

Argentina confirms charges for Barrick employees over 2015 cyanide spill at Veladero

An Argentine court has confirmed criminal charges against eight of nine Barrick Gold employees related to their involvement in a cyanide spill at the company’s Veladero mine in 2015. The ruling follows a 145.7m pesos fine (about $9.8 million) Barrick had to pay in January 2016 over the incident. At the time, the company said it had strengthened controls and safeguards at the mine. A few months later however falling ice damaged a pipe carrying process solution, causing a second leak. There was yet another leak of cyanide solution in March of this year.

Veladero produced 544,000 ounces last year and has P&P reserves estimated in 6.7 million ounces of gold.




Canadian Pacific Railway Limited - CP.t

Canadian Pacific Railway Limited - CP.t was founded in 1881 to physically unite Canada and Canadians from coast to coast.

Canadian Pacific spun out its five subsidiaries into separate companies in late 2001. CPR's 14,000-mile network extends from the Port of Vancouver to The Port of Montreal, and to the U.S. industrial centers of Chicago, Newark, Philadelphia, Washington, New York City and Buffalo.

On July 19, 2017 the company released numbers

​Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced record second-quarter earnings driven by strong top-line growth and continued margin improvements produced by its industry-leading operating model and its 12,000 talented railroaders.

Revenues climbed 13 percent to $1.64 billion, while net income rose 46 percent to $480 million, or $3.27 per diluted share, the highest ever for the period. Adjusted earnings per share rose 35 percent to $2.77 per diluted share.

Thursday, August 17, 2017

Uganda: Gold Mining in Mubende

The remote hilly areas of Mubende District, about 172 kilometres west of Kampala, Uganda are rich in gold. Nkwatirire migrated to the area about 45 years ago. Then, he said, there were only seven families sleeping in huts. In 2012 gold was found. "People started coming here purposely to mine gold. Children, girls, boys, women and men of all ages are here". Congested settlements built haphazardly characterize the region.
15-year-old Agaba fled his home and became one of the 15,000 children working in artisanal gold mining. He is one of the oldest children working at this mine – some are as young as eight. He spends up to 11 hours a day bending over makeshift gold pans, sluicing gold ore while standing ankle-deep in ponds of mercury and water.
He says on a good day he makes 10,000 shillings, about $2.50.
The rocky hills have been excavated by miners who have dug hundreds of underground tunnels in search of gold. Work in the mines goes on non-stop. Mining has degraded the environment in the area. The illegal miners have contaminated water sources with mercury and cyanide. Artisanal and small scale mining operations produces over 90% of the national mineral output and keeps about 200,000 Ugandans are employed.

New Flyer Industries Inc. - NFI.t

New Flyer Industries Inc. - NFI.t is the leading manufacturer of heavy-duty buses in the U.S. and Canada.

New Flyer has grown to an international organization of over 2,200 highly-skilled people dedicated to planning, producing and servicing the industry’s most reliable heavy-duty transit vehicles.

On August 15, 2017 the company released News

New Flyer Industries Canada ULC (“New Flyer”), the Canadian subsidiary of New Flyer Industries Inc. (the “Company”), the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced that the City of Edmonton has awarded New Flyer with a contract for 110 Xcelsior® clean diesel, forty-foot heavy-duty transit buses, as well as options to purchase an additional 120 buses. This new award will add a total of 230 equivalent units to New Flyer’s firm and option backlog.

Wednesday, August 16, 2017

Teck Resources Limited - Teck.b.t

Teck Resources Limited - Teck.b.t is a significant producer of copper, the second largest seaborne exporter of steelmaking coal and the third largest producer of zinc concentrate. The Company also produces molybdenum and specialty metals.

Teck has interests in oil sands development, 13 mines in Canada, the USA, Chile and Peru as well as a metallurgical complex in Canada.

On July 21, 2017 the company released Numbers

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) reported profit attributable to shareholders of $577 million ($1.00 per share) in the second quarter compared with $15 million ($0.03 per share) a year ago.

“I’m pleased with our results,” said Don Lindsay, President and CEO. “We generated adjusted EBITDA of $1.3 billion in the second quarter and $5.4 billion over the last twelve months. After a challenging first quarter we set second quarter steelmaking coal sales and production records of 6.9 and 6.8 million tonnes, respectively, and we reduced our outstanding notes to US$4.8 billion, achieving our target of less than US$5 billion.”