nysestocks
Major miner Gold Fields (NYSE:GFI) revised its 2024 gold production downward on Thursday (June 13), saying that severe winter weather conditions have affected its Salares Norte asset in Chile. Salares Norte, located in Northern Chile, has encountered challenges due to early and prolonged winter weather. This has led to the freezing of materials in the piping of the process plant, causing temporary shutdowns. The unforeseen weather conditions have disrupted the ramp-up phase, forcing the company to revise its output targets. Gold Fields initially set a goal of 220,000 to 240,000 gold equivalent...
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Senior gold miner B2Gold (TSX:BTO,NYSEAMERICAN:BTG) and Sandbox Royalties announced on June 6 that they have entered into a purchase and sale agreement to create Versamet Royalties. As part of the transaction, B2Gold will sell 10 precious and base metals royalties to Sandbox, which will be renamed Versamet Royalties. Versamet will acquire ownership of the royalties by issuing 153.2 million common shares to B2Gold at a price of C$0.80 per share, giving B2Gold a 33 percent equity stake in Versamet. The royalties include 2.7 percent net smelter return (NSR) royalties on West African Resources' (A...
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SQM (NYSE:SQM) has entered into a partnership agreement with Codelco, Chile's stated-owned copper miner, through which the two will jointly exploit lithium and other products in the country's Salar de Atacama. The joint venture is part of Chile's strategy to nationalize its lithium industry. Chile, which holds the world's largest lithium reserves and is a top producer of the battery metal, announced plans to nationalize its lithium industry in 2023. Codelco will own the majority of the joint venture, as required by Chile's nationalization plans. The partnership between SQM and Codelco will inv...
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GameStop (NYSE:GME) continues to cool following a trading frenzy that drove shares up by 75 percent between the close of trading last Friday (May 31) and the start of trading on Monday (June 3). The brief rally, which took GameStop shares to US$40.09 on Monday morning, was sparked by a Reddit (NYSE:RDDT) post made late Sunday (June 2) by an account tied to the video game retailer's most prominent supporter, Keith Gill. Gill, who ignited the meme stock craze in 2021 and is known as Roaring Kitty on other platforms, posted a screenshot on Reddit's Superstonk subreddit that shows a purported US$1...
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The New York Stock Exchange (NYSE) swiftly addressed a technical issue on Monday (June 3) that caused incorrect displays of share price information for a variety of companies listed on the exchange. The glitch, which the exchange attributed to a problem with limit up-limit down (LULD) bands, caused the Class A shares of Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) to plummet nearly 100 percent during morning trading. Major miner Barrick Gold (TSX:ABX,NYSE:GOLD) was also affected, as was NuScale Power (NYSE:SMR). GameStop (NYSE:GME) was impacted too, although the NYSE issue wasn't the only ...
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Mining giants BHP (ASX:BHP,LSE:BHP,NYSE:BHP) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) are teaming up to trial battery-electric haul trucks in Western Australia’s Pilbara region as part of their broader ESG strategies. The collaboration aims to reduce greenhouse gas (GHG) emissions and drive sustainability in the mining sector. The partnership will see the trial of two Caterpillar (NYSE:CAT) CAT 793 haul trucks starting in the second half of 2024, and two Komatsu (TSE:6301) 930 haul trucks beginning in 2026. BHP will use the Caterpillar haul trucks, while Rio Tinto will focus on the Komatsu mod...
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Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has implemented force majeure for alumina exports from its refineries in Queensland, Australia, due to prolonged disruptions in gas supply, according to media reports. The notice, which affects third-party alumina sales, is the company's response to ongoing limitations in gas availability due to damage to a Queensland pipeline; it was caused by fires, which led to restricted gas flow. The expected timeline for restoring full gas flow capacity has been extended to the latter half of 2024. Rio Tinto’s Yarwun refinery and Queensland Alumina will continue to op...
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The pharmaceutical industry is a major player in the overall life science sector, responsible for developing and manufacturing the majority of prescription drugs. Companies in this space are constantly researching and creating innovative treatments for various medical conditions. In recent years, there has been a particular focus on developing new treatments for diabetes, weight loss and cancer. With the pharmaceutical sector projected to reach a staggering US$1.6 trillion in total revenue by 2028, there is an opportunity for investors to gain exposure to the growth potential of this industry ...
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Crescent Energy (TSX:CPG,NYSE:CPG) is set to acquire SilverBow Resources (NYSE:SBOW) in a deal valued at US$2.1 billion, positioning Crescent as the second largest operator in the Eagle Ford shale. Under a definitive agreement announced on Thursday (May 16), SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock they own, with an option to receive cash at a value of US$38 per share, subject to a cash consideration cap of US$400 million. John Goff, chairman of the board at Crescent, said the deal will place the business in a mo...
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Major fertilizer producer Nutrien (TSX:NTR,NYSE:NTR) shared its first quarter results on May 8, reporting net earnings of US$165 million for the period, down 71 percent year-on-year. Adjusted EBITDA came in at US$1.1 billion, a 26 percent year-on-year decline, while Nutrien recorded adjusted net earnings per share of US$0.46, a fall of 50 percent over the same timeframe. The company said the decreases came on the back of lower net fertilizer selling prices, but pointed to strong demand for crop inputs. It is seeing strong potash demand in North America, as well as Southeast Asia, where lower i...
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