Todd White explains the main goals of the company’s digital transformation strategy.
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Todd White explains the main goals of the company’s digital transformation strategy.
"During this year’s Prospectors and Developers Association of Canada conference, Goldcorp’s new COO, Todd White, hosted a much-awaited event called #Disrupt Mining."
"Canadian producers are honing in on double digit post-Fed gains"
Seven miners were initially trapped after the Jan. 9 incident at the Unryul iron ore mine, but only one survived.
"North Korea has admitted that six people died in January when the roof of a mine collapsed, which is considered an unusual admission of a deadly accident in the secretive country."
Montana-based Washington Co is offering 36% above the closing price of the Canadian miner’s shares on Friday.
"Washington Co., which has interests in mining, marine and rail transportation, as well as heavy equipment distribution, is offering US$13.50 (Cdn$18.04) per share cash for Dominion Diamond."
The diamond is the 7th-largest found at Crater of Diamonds State Park since 1972.
"While in southern Arkansas for a baseball tournament, he and his family visited Crater of Diamonds State Park, self-described as “the world’s only ‘keep what you find’ diamond site.”
A Christian pastor has found one of the world's largest uncut diamonds – weighing 706 ct – in Sierra Leone's eastern Kono region. The stone, a photograph of which was posted on the president's official website, is being stored in the country's central bank, government sources said.
"The stone, a photograph of which was posted on the president's official website, is being stored in the country's central bank, government sources said."
Emmanuel Momoh found the 706-carat diamond in Sierra Leone's Kono district.
"A Christian pastor has unearthed a 706-carat diamond in Sierra Leone's Kono district, which is considered to be one of the world’s 20 largest rough gems ever found."
The company expects demand to increase 3% this year, while no new mines are scheduled to come online in the short-term and supply disruptions continue.
"Chile-focused copper miner Antofagasta Plc. (LON:ANTO) logged Tuesday an almost 80% jump in earnings during 2016 on the back on better-than-expected metal prices in recent months, and predicted that improved market conditions were here to stay."
The $400 million-deal will make of Trevali the first pure zinc company with operations in North and South America as well as Africa.
"Mining and commodities trader Glencore (LON:GLEN) is selling its stakes in two zinc mines to Canada’s Trevali (TSX:TV) in a deal worth about $400 million that will make the later the first pure zinc company with operations in North and South America as well as Africa."
Venezuela is cracking down on the country's bitcoin creators.
" the country is cracking down on bitcoin mining, even though the country has no laws on the books outlawing the currency or its manufacture."
He joins a growing list of chairmen who are leaving some of the world's' top mining companies, including BHP Billiton and Anglo American.
"Rio Tinto’s (ASX, LON:RIO) chairman Jan du Plessis is stepping down in 2018, ending a run of more than eight years at the world’s No. 2 miner, which is under scrutiny from international authorities over its former businesses in Guinea, Africa."
Trump is asking congress to approve $1 trillion worth of investments in U.S. infrastructure, investments that will rely heavily on U.S. shale and oil prices
"While the Trump Administration may have plans to use the revenues generated from more drilling on federal land, opening up more federal land to drilling to finance infrastructure won’t happen overnight. The startup of that drilling and royalties paid to the federal government will most likely start pouring in only after a couple of years—likely after President Trump’s current term in office expires."
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Inside Opportunities with Michael McDonald. OilPrice.com
After last year’s rapid recovery from the depths of the oil market’s plunge, many investors went into 2017 expecting black gold to keep rising in value. So far, it is not working out that way. The energy markets have been sideways at best for most of 2017, and energy firms as a whole are not performing all that well.
The Energy Select Spdr ETF (XLE) encapsulates this issue well – XLE is down to around $72 a share versus north of $78 in December. The ETF is a good broad measure for most of the energy stocks out there. Despite the fact that oil itself has only fallen modestly, many energy firms have underperformed in the market over the last few months.
The underperformance of energy stocks may be because investors expected oil prices to keep rising, and the current price level is still too low for most stocks to make much money. Or it could be that the equity market investors are simply more pessimistic than commodities players are.
Whatever the reason, at least over the last few months, the energy trade is not working out the way many investors had hoped. For now, the easy gains seem to be gone, leaving investors to wonder what they should do from here.
The outlook for oil for the rest of 2017 is decidedly uncertain and the case for further price increases is getting weaker. While OPEC has shown remarkable discipline in its supply cuts, investors must be wondering whether the Cartel is still as relevant as they once were.
The U.S. is producing markedly more oil than it was a few months ago, and shale drillers are just starting to come back into growth mode en masse. Moreover, U.S. producers are now operationally stronger, more efficient, and better at coping with low prices than they were a few years ago. All of this may well lead to the U.S. regaining its crown as the world’s largest oil producer.
Equally importantly, news came out on Thursday that Russian supply cuts are not materializing to the degree that was expected. Russia’s February output was unchanged versus January at 11.11 million barrels per day. That corresponds to price cuts of 100,000 barrels – one-third of what Russia promised OPEC. The Russian failure might start to undermine compliance across OPEC and spell serious trouble for the Cartel’s cohesion.
The case for oil prices rising from here rests largely on significant demand by speculators, a recovering global economy, and unusually large maintenance outages from Asian refining operations in the Spring. These factors may or may not be enough to boost oil during the rest of 2017 – the outlook from here is balanced which is why oil has not moved much of late.
Against this backdrop investors need to tailor their investments accordingly. In particular, investors have to contend with the possibility that many energy firm stocks are going to struggle going forward unless oil prices break out to the upside.
Investors should be looking at the strongest companies in the space. Oil companies that score high on value metrics at this stage are probably also value traps in many cases. The market is rewarding those firms with the most feasible production by giving them higher valuations. Those stocks with strong price momentum are likely to do well going forward based on the historical evidence.
Investors who are not comfortable betting on stocks that have already run higher might consider looking at various options strategies as an alternative. Straddles and calendar spreads both look like attractive strategies in the current environment. Straddles should benefit once oil breaks out in either direction, while calendar spreads offer a great way to mitigate overall market exposure while still benefiting from higher volatility down the road in oil and energy stocks as a whole.
Whatever strategy energy investors choose to adopt, it is clear that the energy market recovery story is looking a lot shakier than it did three months ago.
"Whatever strategy energy investors choose to adopt, it is clear that the energy market recovery story is looking a lot shakier than it did three months ago"
Gahcho Kué, owned by De Beers Canada and Mountain Province Diamonds, is expected to produce around 54 million carats of rough gems over its 12-year lifetime.
"Canada's Gahcho Kué mine, the world’s largest new diamond mine in the last 13 years, reached commercial production Thursday, its owners De Beers Canada and Mountain Province Diamonds announced."
The Liquefied natural gas sector has seen a lot of activity as of late, with prices in Japan hitting a two-year high in recent weeks, drawing global attention and competition
"The liquefied natural gas (LNG) sector is seeing a lot of activity. Spurred by prices in the key Japanese market hitting a two-year high in recent weeks, averaging $8.40/MMBtu for January."
No one really knows how much oil the countries around the world are storing, but a new satellite technology may soon bring those numbers to light
"No one really knows how much oil the countries around the world are storing, creating uncertainty in the supply side of the oil markets."
Not solar, but wind energy is quickly becoming the U.S.’ largest single source of clean energy, overtaking hydroelectric at the end of last year
"Wind power has now overtaken hydroelectric as the largest single source of clean energy in the United States. With 82 thousand MWs of total installed capacity at the end of 2016, wind turbines exceeded the 80 thousand MWs generated by the nation’s hydroelectric dams."
With Irkutsk emerging as one of the new hubs in Russian oil & gas, Russian and international oil companies are vying for a slice of the cake
"Russia’s gradual pivot to the Asia-Pacific region put a new spin on the nation’s exploration & development priorities."
For both economic and environmental reasons, the Arctic has largely become a no-go zone for Big Oil, but Norway is bucking this trend, increasing drilling in the area
"It seems that the limited oil price increase that followed OPEC’s production cut deal has been enough for Statoil and Lundin to decide to allocate more funds to Arctic drilling, especially since the price rise has been accompanied by a major discovery for Lundin and a likely future major discovery for Statoil."
Record high global crude inventories and week of strong additions to U.S. oil stocks could keep oil prices from reaching $70
"Another week brings yet more signs that the highly-anticipated oil market “balance” will not occur in the immediate future."
Falling demand and consistent refinery runs have caused gasoline inventories to reach unexpected levels, significantly increasing downward pressure on crude
"Oil prices are stuck in a holding pattern, waiting for more definitive data on what comes next. OPEC compliance is helping keep prices afloat, but rising U.S. oil production is acting as a counterweight."
Oil markets have entered a ‘’wait-and-see-mode’’ as OPEC makes a good effort to cut output, but elevated inventory levels continue to limit further upside
"The oil market is in a “wait-and-see mode” as OPEC implements its production cuts, with the record level of compliance boding well for tighter conditions, the IEA said in its latest Oil Market Report."
Official OPEC sources have confirmed a cut of 890,000 barrels per day in January, with production decreasing the most in Saudi Arabia, Iraq and the UAE
"OPEC cut its crude oil production by 890,000 bpd from December to average 32.14 million bpd in January, the cartel said in its Monthly Oil Market Report on Monday, with figures suggesting that members are largely sticking to the supply-cut deal so far."
A new methodology which analyzes the profitability of U.S. shale could significantly enhance the success of frackers
"The oil and gas industry has now started to use data analytics – comparing data from multiple sources – an approach that other sectors such as finance, for example, have been using for years."
First time data on the economics of U.S. LNG exports to Asia don’t look bright as landing prices are much higher than competitors’
"There’s been a lot of speculation that U.S. LNG producers can grab a big share of this growing market. With first-ever exports from America recently sailing to Japan and South Korea."