Silver Wheaton Reports Record Revenue, Sales Volumes; Proposes Name Change

Silver Wheaton Corp. announced year-end results for 2016 with record silver and gold sales volumes at 28.3 million ounces (oz) and 330,000 oz, respectively. Gold production was also a record at 353,700 oz in 2016. In the fourth quarter of 2016, gold sales exceeded 100,000 oz for the first time, with more than 73,000 oz of gold sold from the Salobo mine alone.

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Union Still on Strike at Lucky Friday Mine

Workers remain on strike at Hecla Mining’s underground silver, lead and zinc Lucky Friday mine located in the Coeur d'Alene Mining District in northern Idaho. The United Steelworkers (USW) Union Local 5114 voted to initially go on strike on March 12. 

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Wood Group to Acquire Amec Foster Wheeler

The boards of Amec Foster Wheeler and the John Wood Group have reached agreement on the terms of a recommended all-share offer by Wood Group to acquire Amec Foster Wheeler in a £2.23 million ($2.71 billion) deal. Based on their experience of operating in the engineering and technical services industry, the Wood Group directors believe the combined group will be able to achieve significant sustainable cost synergies of at least £110 million ($134 million) per year. They also believe significant additional revenue growth opportunities may be realized as a result of the acquisition. 

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Hexagon Selects Downtown Tucson for its Headquarters

Hexagon Mining, an information technology provider of planning, operations and safety solutions for the mining industry, announced this week the relocation and expansion of its Tucson, Arizona-based North American headquarters to downtown Tucson. Of its 580 employees worldwide, 140 people work in Tucson and the company plans to add 120 jobs in Tucson over the next five years. The new positions will include executive management, IT, engineering, research and development, product development/management, sales, human resources, legal, marketing, and administrative/support.

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