Mining News 29 June 2012: AngloGold Ashanti, Goldcorp and Teck | Mining University

Mining News 29 June 2012: AngloGold Ashanti, Goldcorp and Teck

AngloGold Ashanti releases Q1 Income Statement

The statements of income (Condensed Consolidated Statementsof Income) released by AngloGold Thursday for the quarter ended March 31, 2012 shows net income of $397 million, up from $237 from Q1 2011.  This included a dividend per share of $0.26 per ordinary share and $0.13 per E ordinary share (I don’t know what this is).

AngloGold Ashanti completes acquisition of Serra Grande Mine

As of June 28, 2012 AngloGold’s purchase of 50% interest in the Serra Grande Mine (Press Release) from Kinross is complete. The sale was for a total of $220 million cash. AngloGold now owns 100% of the Serra Grande Mine.

Goldcorp Wins Decision Against Barrick over El Morro Acquisition

An Ontario court dismissed the case by Barrick GoldCorporation alleging unlawful transactions between Goldcorp and New Gold over the sale of the El Morro project in Chile. The lawsuit was filed way back in January of 2010. It’s amazing how long these court proceedings can drag out.  El Morro is a copper and gold project in the Atacama region of Chile.

It did seem like this press release was intended to overshadow the fact that the project is currently being delayed by environmental concerns. The Chilean permitting authority is currently investigating deficiencies at the site.

Teck Resources Donates $1 Million to Trans Canada Trail

The Trans Canada Trail is the world’s longest network of recreational trails and will eventually connect the Atlantic and Pacific oceans across Canada. Teck Resources Limited has announced that it is donating $1million toward the section connecting communities in the Kootenays (near the Kootenay river in southern British Columbia).

Teck seems to be donating a lot of money lately. I am always glad to hear about a mining company giving back to the communities where it operates.

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