Mining Sector Precious Metals Updates - Amarium Technologies, Newmont, Kinross Gold, Vale, Southern Copper
CORAL SPRINGS, Florida, October 2, 2013 /PRNewswire/ --
Market news updates for mining companies with Copper, Gold and other mineral projects: Amarium Technologies Inc. (OTC: AMMG), Newmont Mining Corporation (NYSE: NEM), Kinross Gold Corporation (NYSE: KGC), Vale S.A. (NYSE: VALE) and Southern Copper Corporation (NYSE: SCCO).
Amarium Technologies Inc. (OTC: AMMG) Amarium's Production Ahead of Schedule at Jovita and Expansion at San Pedro Mill Explored. Amarium reports that the Company is currently ahead of Copper production targets at the Jovita Mill in Michoacán, Mexico. The primary factors cited for the higher than anticipated production were increased operational efficiency from recent implementations and higher than expected ore grades. Production results will be reflected in the Company's next quarterly report for the period ending September 30. The Company also announced that it is conducting an initial assessment to upgrade the existing 20 ton-per-day San Pedro Mill, also located in Michoacán.
"Obviously we are very encouraged to see that some of our procedural changes and maintenance scheduling have been successfully implemented at the Jovita Mine. However, the added bonus is that our production projections were based on conservative estimates regarding ore grades and that has proven to be a pleasant surprise that has allowed the Company to exceed expectations." said Adam Carter, the President & CEO of Amarium. "With regards to San Pedro, we believe that the production output of the mill could be increased substantially with only minimal capital investment. Right now we are going to delve further into the evaluation and opportunities for the expansion of the project, before plans to move ahead are solidified."
To read the entire press release, please go to http://www.fnmprofiles.com/profiles-ammg.php
Newmont Mining Corporation (NYSE: NEM) is eyeing Glencore Xstrata's Peruvian copper mining project - Las Bambas - which the latter is selling in an auction, according to Financial Times. The newspaper stated that Newmont's Chief Executive has found an interesting prospect in Glencore's Las Bambas mine. NEM announced it will report third quarter 2013 results after the market closes on Thursday, October 31, 2013. A conference call will be held on Friday, November 1, 2013 at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time); it will also be carried on the Company's website. Dial-In Number: 888.566.1822 - Intl Dial-In Number: 312.470.7116 - Passcode: Newmont.
Kinross Gold Corporation (NYSE: KGC), together with its subsidiaries, engages in mining and processing gold and silver ores. It is involved in the exploration, acquisition, development, and operation of gold bearing properties. The company has operations in Canada, the United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana, and Mauritania. As of December 31, 2012, its proven and probable mineral reserves included 59.6 million ounces of gold, 68.2 million ounces of silver, and 1.4 billion pounds of copper - KGC closed down 2.38% on Tuesday (10/1/13) on 12.8 Million shares traded by market close.
Vale S.A. (NYSE: VALE) engages in the research, production, and marketing of iron ore and pellets, nickel, fertilizers, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment engages in the extraction of iron ore and pellet production, as well as operation of transport systems in Brazil, including railroads, ports, and terminals related to mining operations. VALE closed down slightly on Tuesday (10/1/13) on 15.5 Million shares traded by market close.
Southern Copper Corporation (NYSE: SCCO) engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. It is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce anode copper; and refining of anode copper to produce copper cathodes, as well as refined silver. SCCO closed up slightly on Tuesday (10/1/13) on 1.2 Million shares traded by market close.
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