Editor’s Note: Barrick Gold Corporation (USA) (NYSE:ABX), Goldcorp Inc. (USA) (NYSE:GG), Newmont Mining Corp (NYSE:NEM), Gold Fields Limited (ADR) (NYSE:GFI), Rio Tinto plc (ADR) (NYSE:RIO), Alamos Gold Inc (NYSE:AGI)
Greener Technologies Making Mining Cleaner, More Efficient (Environmental Leader)
Mining companies such as Rio Tinto plc (ADR) (NYSE:RIO) and Barrick Gold Corporation (USA) (NYSE:ABX) are beginning to adopt greener technologies, spawning a cottage industry of companies aimed at helping the mining industry clean up after hundreds of years of inefficiencies and waste, according to a report by cleantech research and advisory firm Kachan & Co. Barrick Gold currently has 140 energy efficiency projects across its operations and now sources more than 19 percent of its electrical power from renewable energy. The company also implemented water management and recycling and zero discharge programs. As a result, 36 percent of the water used by the company now comes from brackish sources — preserving valuable drinking water — and 70 percent of its sites operate under zero discharge programs and reuse recycled water.
Goldcorp Declares Monthly Dividend of $0.05 (GG) (WKRB News)
Goldcorp Inc. (USA) (NYSE:GG) declared a monthly dividend on Tuesday, September 10th, Stock Ratings Network reports. Stockholders of record on Thursday, September 19th will be given a dividend of $0.05 per share on Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 17th. A number of research firms have recently commented on GG. Analysts at Zacks upgraded shares of Goldcorp Inc. (USA) (NYSE:GG) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $31.00 price target on the stock.
Peru faces human rights complaint over Newmont gold mine (Reuters AlertNet)
Anti-mining activists have filed a complaint with the Inter-American Commission on Human Rights accusing Peru’s government of rights abuses during protests against one of Latin America’s biggest mining projects, a protest leader said on Monday. The legal move could further stall efforts to revive U.S.-based Newmont Mining Corp (NYSE:NEM)’s $5 billion Minas Conga project, which President Ollanta Humala’s administration put on hold last August following months of protests in the northern highland region of Cajamarca. Ydelso Hernandez, who leads a group of peasant farmers opposed to the mine, said a group of lawyers would travel to Washington next week to address the human rights body about the suit, which was filed last year.
Gold Fields confirms US scrutiny over R2.1bn BEE deal (BDlive)
South African bullion producer Gold Fields Limited (ADR) (NYSE:GFI) said on Tuesday it was being investigated by the US Securities and Exchange Commission over a R2.1bn black economic empowerment (BEE) deal involving a senior member of the ruling African National Congress (ANC). Gold Fields Limited (ADR) (NYSE:GFI), which is also listed in the US and so subject to scrutiny from US regulators, said in a statement it was being probed over the 2010 deal and the granting of a mining licence for its South Deep mine near Johannesburg.
Toronto down on lower commodities (Baystreet.ca)
The Toronto stock market declined Tuesday, pressured by the falling price of gold and oil amid signs that geo-political tensions may ease after Syria agreed to hand over its chemical weapons. The S&P/TSX composite index ended Tuesday down 30.16 points to 12,824.48. The Canadian dollar moved higher 0.25 cents to 96.63 cents U.S. The gold sector was down, with shares in Barrick Gold Corporation (USA) (NYSE:ABX) down 3.9%, or 78 cents, at $19.14 and shares in Alamos Gold Inc (NYSE:AGI) down 6.3%, or $1.06, to $15.80.