3 Canadian Miners Poised to Strike Gold

Its full-speed ahead with initiatives for these 3 Canadian mining companies

The Motley Fool

The following companies are moving forward with strategies to develop projects designed to drive production and revenues. Consider taking your portfolio to the next level through the initiatives these three players are undertaking.

1. Barrick Gold

Barrick Gold (TSX: ABX)(NYSE: ABX) announced this week that it will be teaming up with Saudi Arabian Mining Co. (Ma’aden). This all concerns Barrick’s Jabal Sayid copper mine in Saudi Arabia. With the joint venture agreement, Ma’aden will own 50% of Jabal Sayid through paying Barrick US$210 million.

The expectation is that Jabal Sayid will commence operations next year. Ma’aden was originally wholly owned by the Saudi Government before 50% of its shares were offered in 2008 on the Saudi Stock Exchange (Tadawul).

Partnerships will be Barrick Gold’s new emphasis as company spokesman Andy Lloyd pointed out, “The concept of partnering with either governments or sources of capital or other mining companies to develop other assets will be a focus for us.”

2. Ivanhoe Mines

Ivanhoe Mines (TSX: IVP) has its Kipushi Project in the Democratic Republic of Congo. This is its 68%-owned copper/zinc/germanium/lead and precious metals mine project (32% held by state-owned mining company Gecamines). A major drilling and upgrading program is taking place at Kipushi via an Ivanhoe Mines-led joint venture.

This week, Ivanhoe reported that the first batch of assay results from its underground diamond-drilling program at Kipushi confirmed initial visual estimates of high-grade zinc and copper mineralization in the Big Zinc and copper-rich Serie Recurrente zones.

Ivanhoe Mines Executive Chairperson Robert Friedland said, “Zinc grades of between 56% and 60% typically are found in high-quality zinc concentrates, rather than primary mineralization. These initial assay results highlight the remarkable metal endowment of the mineralization extending below the Kipushi deposit as previously mined by Gecamines.”

3. Eldorado Gold

A low-cost gold producer, Eldorado Gold (TSX: ELD) (NYSE: EGO) has its operating Kisladag open pit mine in Turkey. This is the company’s flagship gold mine and it’s the largest in Turkey. Eldorado Gold has 100% ownership of Kisladag. Gold production at Kisladag was 306,182 ounces in 2013. The gold production estimate for 2014 is between 300,000-335,000 ounces.

In late June, Eldorado announced that its wholly owned subsidiary, Tuprag Metal Madencilik Sanayi Ve Ticaret A.S., received a positive Environmental Impact Assessment (EIA) decision from the Ministry of Environment and Urbanization of Turkey. The EIA approval will permit the expansion of the Kisladag open pit mine throughput from its present 12.5 million tonnes per year to a maximum of 35 million tonnes per year. That is, if Eldorado decides to proceed with potential Kisladag expansion plans.

If you want a mining component to your stock portfolio, consider these three Canadian mining companies with ambitious plans to drive growth. Perform due diligence on forward-thinking companies looking to increase profitability as opportunity presents itself.

Fool contributor Michael Ugulini has no position in any stocks mentioned.

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