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How this northeastern Quebec city is getting burned by the collapse in iron ore prices

SEPT-ÎLES, QUE. — At the corrugated-iron-walled congress centre in this northeastern Quebec city on a snowy late-November day, organizers of a chamber of commerce luncheon are turning away late arrivals. 2,036 more words


What went wrong at Rubicon Minerals, one of the biggest junior mining meltdowns in years

Even before its meltdown, investors watching Rubicon Minerals Corp. could see some troubling warning signs.

Everything seemed fine on the surface. The company said in April that it was on track for first gold production at its Phoenix project in Northern Ontario in mid-2015. 1,214 more words


A diamond is forever. Demand, not so much: The strange economics behind a rock's worth

A young couple passes an elderly one on a walking path, as an acoustic guitar plays the melody to “Stand By Me.”

The younger woman turns around and smiles. 1,015 more words


Why 2015 will go down as a year to forget for North American coal miners

Plenty of coal industry insiders have spoken out about the collapse of the business in the United States. But nobody does it with quite the same fervor as Robert Murray. 1,280 more words


How smaller Canadian gold miners are thriving despite today's gloomy price environment

KIRKLAND LAKE, ONT. • Deep underground in Kirkland Lake, 300 kilometres north of Sudbury, it is hard to think about the rich veins of gold near at hand. 1,926 more words


Canadian miners brace for 'knife fight' after year of dumping assets at fire-sale prices

The mining business has a long history of companies grossly overpaying for assets. But no one will accuse George Dethlefsen of that crime.

Mr. Dethlefsen’s firm, Corsa Coal Corp., was approached this year about buying coal assets in Pennsylvania from Russian steel giant OAO Severstal, which was bailing out of the United States. 1,208 more words


Breaking up is easy to do: Potential 'Inco' IPO highlights mining sector's new reality

Speaking to an audience of mining industry professionals in Toronto, Tom Albanese made his message loud and clear.

“The consolidation we are seeing heralds a new era that we have not seen before and probably won’t see again,” Mr. 1,039 more words