Industry News

Dow Chemical Co. said it will cut 8% of its Michigan workforce as a result of its takeover of Dow Corning amid a pending merger with rival DuPont. The company said in a statement Tuesday that the job cuts are designed to foster "more efficient growth of Dow Corning's Silicones business." One of Michigan's largest employers, Dow manufactures a range of products from plastics to paint..."/>
Michigan officials pledge to support laid-off Dow employees [Detroit Free Press]
Camino Minerals Corporation, is pleased to announce the signing of a Letter of Intent with Minas Andinas SA, pursuant to which it can acquire through a wholly owned subsidiary, Camino Resources SAC, a 100% interest in the Los Chapitos project. The property consists of 7 claims, totaling 3,200 hectares, and is located 15 kilometers north of the coastal city of Chala, Department of Arequipa. At Los Chapitos, all of the known mineralization is associated with..."/>
Camino Minerals signs a letter of intent to option the Los Chapitos project, Peru
Pretium Resources Inc. is pleased to report on the progress of site construction activities at its high-grade gold Brucejack Project located in northwestern British Columbia. Construction and development continues on schedule for commissioning of the underground mine in mid-2017. Construction of the mill building continues to progress with the pouring of concrete foundations and pedestals for the building as well as footings and..."/>
Pretium Resources Inc.: Brucejack Project Construction Update
Religare Enterprises Ltd, has acquired 1.32 million pledged shares of India's largest private shipbuilder ABG Shipyard Ltd to take a 24.49% stake in the debt-laden company. In its filing to BSE, ABG Shipyard said Religare Finvest has acquired 1.32 million shares, representing 24.49% stake in the shipbuilder, by invoking the' encumbrance' clause. This acquisition will, under the rules, not trigger an open offer to ABG Shipyard's..."/>
Religare Finvest acquires 24.49% stake in ABG Shipyard [Mint, New Delhi]
B2Gold Corp. is pleased to announce an exploration update for its Fekola and Kiaka projects in West Africa. All dollar figures are in United States dollars unless otherwise indicated. Highlights of the new drill results include 15.50 metres at 8.49 g/t gold from a diamond drill hole north of the Fekola deposit; 26 metres at 5.44 g/t gold from reverse circulation drilling in a new zone of saprolite-hosted gold mineralization in the Fekola..."/>
B2Gold 2016 Exploration Update: West Africa
JSW Steel Ltd on Tuesday said it will seek shareholders' approval to raise as much as $2 billion by selling non-convertible foreign currency denominated bonds to fund its long-term capital expenditure plans. In addition, the company will also seek approval from shareholders to raise up to Rs.4, 000 crore by selling shares and debentures to institutional investors through the qualified institutional placement route. JSW Steel will seek shareholders' approval..."/>
JSW Steel seeks to raise up to $2 billion via foreign currency bonds [Mint, New Delhi]
Religare Enterprises Ltd, has acquired 1.32 million pledged shares of India's largest private shipbuilder ABG Shipyard Ltd to take a 24.49% stake in the debt-laden company. In its filing to BSE, ABG Shipyard said Religare Finvest has acquired 1.32 million shares, representing 24.49% stake in the shipbuilder, by invoking the' encumbrance' clause. This acquisition will, under the rules, now trigger an open offer to ABG Shipyard's..."/>
Religare Finvest acquires 24.49% stake in ABG Shipyard [Mint, New Delhi]
Tata Communications Ltd has finally reached a deal to sell its South African unit Neotel Pty Ltd to Liquid Telecom Group for 6.55 billion rand, after striving for more than two years to dispose of the unit. Liquid Telecom, majority-owned by Econet Wireless Global, is partnering with Royal Bafokeng Holdings, a South African empowerment investment group, which has committed to taking a 30% equity stake in Neotel, Tata Communications said on Tuesday."/>
Tata Communications sells Neotel to Africa's Liquid Telecom [Mint, New Delhi]
Heron Resources Limited is pleased to announce the results of its Feasibility Study for its 100% owned and fully permitted high-grade Woodlawn Zinc-Copper Project in New South Wales, Australia. The A $11 million study prepared under the guidance of SRK Consulting Pty Ltd supports the viability of the Starter Case to deliver quality zinc, copper and lead concentrates to market over a significant Reserves-based mine life."/>
Heron Resources delivers Woodlawn Project Feasibility Study
Dow Chemical Co. said today that it will cut about 8 percent of its total workforce in Michigan as a result of its takeover of Dow Corning amid a pending merger with rival DuPont. "These actions are intended to help offset the impacts from restructuring measures Dow will implement to enable faster and more efficient growth of Dow Corning's Silicones business," the company said in a statement Tuesday morning announcing a global cutback in personnel of about..."/>
Dow to cut 700 jobs in central Michigan [Detroit Free Press]
Dow Chemical Co. said Tuesday it will lay of 2,500 workers worldwide and shut silicones manufacturing plants in North Carolina and Japan. It's unclear how or whether the job cuts will affect Dow's more than 6,000 employees and contract workers in Louisiana. "Workforce consolidations will come from Dow and Dow Corning and will vary by business, function and geography," spokeswoman Rachelle Schikorra said in an email."/>
BRIEF: Dow Chemical to cut 2,500 jobs worldwide [The Advocate, Baton Rouge, La.]
Pitchblack Resources Ltd. has closed the first tranche of its non-brokered private placement financing of 600,000 common shares of Pitchblack at a price of $0.10 per share for gross proceeds of $60,000. The First Tranche forms part of a larger offering for gross proceeds of up to $170,000.. All securities issued pursuant to the First Tranche are subject to a statutory hold..."/>
Pitchblack Closes First Tranche of Private Placement
Pershing Gold Corporation, an emerging gold producer, today announces completion of the Preliminary Economic Assessment on its Relief Canyon Mine in Pershing County, Nevada. Mine Development Associates of Reno, NV completed a PEA for the Company's Relief Canyon gold mine with an effective date of June 2, 2016. The PEA uses approximate three-year average prices of $1,250 per ounce of gold and $17/ oz of silver. The full PEA will be posted within the..."/>
Pershing Gold Announces Preliminary Economic Assessment for Relief Canyon
Pershing Gold Corporation, an emerging gold producer, today announces completion of the Preliminary Economic Assessment on its Relief Canyon Mine in Pershing County, Nevada. Mine Development Associates of Reno, NV completed a PEA for the Company's Relief Canyon gold mine with an effective date of June 2, 2016. The PEA uses approximate three-year average prices of $1,250 per ounce of gold and $17/ oz of silver."/>
Pershing Gold Announces Preliminary Economic Assessment for Relief Canyon
Minco Gold Corporation reports that the nominees listed in the management information circular for the 2016 Annual General and Special Meeting of shareholders held on June 27, 2016 were elected as directors of Minco Gold. Shareholders also approved the appointment of auditors and resolution authorizing the approval of unallocated options. Detailed results of the vote for the election of directors, auditors and approval of..."/>
Minco Gold Announces Annual General and Special Meeting Results
Minco Silver Corporation reports that the nominees listed in the management information circular for the 2016 Annual General Meeting of shareholders held on June 27, 2016 were elected as directors of Minco Silver. Shareholders also approved the appointment of auditors. Detailed voting results at the Meeting are set out as follows:."/>
Minco Silver Announces Annual General Meeting Results
Lundin Gold Inc. is pleased to announce the appointment of Alessandro Bitelli as Executive Vice President, Chief Financial Officer with Chester See taking on the role of Vice President, Finance, effective July 1, 2016.. "I am very pleased to announce the appointment of Alessandro as our new Chief Financial Officer," said Lundin Gold President and Chief Executive Officer, Ron Hochstein. " Now that the feasibility study is complete and the..."/>
Lundin Gold Provides Corporate Update
New Millennium Iron Corp. announced today that it has received a Notice of Contribution of Future Amounts from Tata Steel Minerals Canada Ltd. pursuant to the October 2015 settlement between the parties regarding the issue of cash calls stemming from NML's investment in TSMC, that has been responded to by the Company. The Notice states that NML is provided with 30 days' notice to contribute its pro-rata share of future amounts, of which NML's share is..."/>
New Millennium Iron Corp. Announces Receipt of Notice of Contribution of Future Amounts and Response to Tata Regarding Dilution of Interest in TSMC
New Millennium Iron Corp. announced today that it has sent the Port of Sept-Iles a notice of termination of the July 2012 Contract with the Port, under which NML reserved annual iron ore loading capacity of 15 million tonnes at the Port's new multi-user dock and advanced funds totalling $38.4 million towards construction of the dock. Based on advice from legal counsel, the Company believes it is legally entitled to terminate the Contract."/>
New Millennium Iron Corp. Announces Notice of Termination of Contract with the Port of Sept-Iles Regarding the Multi-User Dock
Rayonier Advanced Materials have concluded a market, technical and engineering analysis regarding a new lignin operation at RYAM’ s Fernandina Beach site in Florida to serve the growing demand for natural lignin-based products. The final review of the investment by the companies’ boards of directors is anticipated during the second half of 2016 upon receipt of final permits and incentives from government entities."/>
New Lignin Operation in Florida in Final Phase of Approval

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