Teresa had an early introduction to mining through her father’s career as a geophysicist. As a toddler, she was carted through interior British Columbia to various mineral exploration sites, including what eventually became Hedley’s Mascot Gold Mine. Her father changed careers long ago, but Teresa retained an interest in geology, and is keen to learn more about the different factors affecting resource commodity markets.
An avid writer and voracious reader, Teresa recently graduated from the University of British Columbia where she majored in English Literature. Since then she has pursued writing in many forms, including novel writing, freelance ghost writing, and blogging for The Breakfast Courier, a startup company in Vancouver. When she is not writing, Teresa can be found on the ski hill or volunteering in local schools.
Scandium International Mining (TSX:SCY) has signed a memorandum of understanding with ALCERECO for the formation of a strategic alliance to develop markets and applications for aluminum alloys containing scandium. The companies have also signed an offtake agreement for scandium from the Nyngan project in Australia, specifying deliveries of scandium oxide product to begin in early 2017.
Orbite Aluminae (TSX:ORT) announced that it has entered into an underwriting agreement to raise gross proceeds of $8.5 million. Euro Pacific Canada has agreed to buy 8,500 units at a price of $1,000 per unit, and may purchase an additional 6,500 units within 30 days of the bought deal closing of the offering, which would bring aggregate gross proceeds to $15 million.
Kootenay Silver (TSXV:KTNV) reported results from the first six drill holes of Phase II drilling at its Promontorio La Negra silver discovery in Mexico, with all six holes hitting significant widths and grades of silver mineralization.
While both gold and platinum prices have continued to fall so far this year, platinum has taken a harder hit, making the white metal cheaper than gold. William Tankard, director of precious metals and mining at Thomson Reuters, pointed first to supply-side factors that are driving platinum’s fall.
The north of Chile has been devastated by heavy rains and flooding that began last Tuesday, and while there have been several reports on how the rainfall has affected copper mines in the region, some investors are likely wondering what it means for lithium operations as well.
Australian Mining reported that a supposedly massive rare earths deposit discovered in North Korea in 2013 is being doubted. The deposit was discovered by a joint venture between SRE Minerals and state owned Korea Natural Resources Trading Company, with early reports stating that had the potential to hold reserves 6 times as large as those in China.
Reuters reported that Barrick Gold (TSX:ABX) will continue to operate its Lumwana mine in Zambia pending changes to mining royalty taxes in the country. Barrick announced in December that it would suspend operations at Lumwana due to the change.
According to Mineweb, withdrawls from the Shanghai Gold Exchange (SGE) have stayed high despite the end of Chinese New Year celebrations. Demand from India has also risen, according to the publication.