Jobs in the US mining sector in November continue to be strong, extending gains seen in the previous month, the US Bureau of Labor Statistics said Friday.
In October this year, mining jobs trended upwards, with more than 5,000 positions created, while the industry as a whole had added 65,000 jobs over 2018 as the resource sector benefits from firming metals prices and traders looking for safe havens amid an uneasy global outlook.
For November, the Labor Department said that sectors like mining, construction, wholesale trade, leisure and hospitality, and government had shown little change over the previous month.
Many of the October gains came in the mining support services.
Against the wider backdrop, the overall job creation number came in below expected for November at 155,000, where 200,000 had been predicted by economists.
A buoyant or stable mining industry spells good news for companies looking to advance projects or build mines.
Gold Resource Corp (NYSE:GORO), a gold and silver producer, developer and explorer with operations in Mexico and Nevada, recently began work on the expansion of its Arista mine’s Switchback vein system in Mexico and has also discovered new veins via drilling.
Last week, it closed a US$75 million financing and has started building the project. First production of the red metal is expected in the fourth quarter of 2019.
Meanwhile, British Columbia-focused Pacific Empire Minerals Corp (CVE:PEMC) (OTCQB:PEMSF) is a prospect generator focused on copper-gold deposits, and also owns and operates its own drill.
This season alone it has sunk 41 holes for around 2,500 meters at five of its projects using its own track-mounted rig and expects to drill even more next summer.
Also, Vancouver-based Mawson Resources Limited (TSE:MAW) has this week hailed the completion of two drilling programs and said work has begun on a new round of exploration.
Assays from four holes at the company's Western USA (WUSA) gold project in Oregon will be released early in the new year, the firm told investors.
Contact Giles Gwinnett at [email protected]
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