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Henry Lazenby

Henry Lazenby

Henry Lazenby is Creamer Media Deputy Editor: North America for Mining Weekly.

Tel: +27 11 622 3744 / +1 647 352 1305

Email: newsdesk@engineeringnews.co.za / henry@miningweekly.com

 

Copper not expected to hit $3/lb until mid-year

25th February 2017 Bank of America Merrill Lynch (BofAML) does not expect the copper price to rally to $3/lb at least until mid-year, as a softer Chinese copper market and global policy uncertainty weighs. After rallying by 28% in the fourth quarter of 2016, copper prices have held up into the first quarter,... 

High noon approaches for Centerra, Kyrgyz disputes as cash reserves dwindle

25th February 2017 Resolution of the drawn-out dispute between Canadian gold producer Centerra Gold, the Republic of Kyrgyzstan and Kyrgyz State miner Kyrgyzaltyn is potentially possible by mid-year, the multinational miner said late Thursday. Having filed with the Permanent Court of Arbitration early in January a... 

Mutual decision leaves Primero looking for new leadership

24th February 2017 Precious metals producer Primero Mining announced late Thursday that the company and president and CEO Ernie Mast have reached a mutual decision that Mast will leave the company by no later than March 6. He will be replaced by former CEO Joseph Conway in the interim. Mast will help with the... 

Eldorado posts Q4 loss as sales slide, costs rise

24th February 2017 Canadian multinational miner Eldorado Gold has reported a loss attributable to shareholders for the quarter ended December 31 of $32.5-million, or $0.05 a share, as lower sales volumes and higher unit costs, were partly offset by higher gold prices. In the comparable period a year earlier, the... 

Argonaut secures 420 ha mineral concession from Fresnillo

24th February 2017 TSX-listed Argonaut Gold has secured 420 ha of land under mineral concessions owned by a subsidiary of Fresnillo, and which covers known projections of mineralisation that are part of its 100%-owned El Castillo mine, in Mexico. Argonaut subsidiary Minera Real Del Orohas has entered into an... 

Growth in copper supply to slow through 2020 – ICSG

24th February 2017 Global copper mine production growth is expected to slow to 2.5% a year through 2020, down from an average growth rate of almost 4% a year in the last five years, the International Copper Study Group (ICSG) said on Thursday. The Lisbon, Portugal-based think tank cited continued delays in project... 

Alamos narrows Q4 loss as buoyant outlook bolsters guidance

24th February 2017 Intermediate Canadian miner Alamos Gold on Thursday reported a net loss of $20.6-million, or $0.08 a share, for the three months ended December 31, citing stronger earnings from operations, offset by unrealised foreign exchange losses in both the foreign exchange and the deferred tax items. This... 

Vale hits profit home run on strong production, rising iron-ore prices

23rd February 2017 Brazil’s Vale, the world’s largest iron-ore producer, has swung back into the black with a net profit of $3.98-billion for 2016, boosted by higher iron-ore prices and record output. This represents a significant swing from a loss of $12.13-billion in 2015. 

IOC pulls the trigger on long-delayed C$79m Wabush 3 expansion

23rd February 2017 Iron Ore Company of Canada (IOC), a subsidiary of Rio Tinto, will proceed with the C$79-million Wabush 3 expansion project at its remote iron-ore mine in the Labrador Trough of Newfoundland and Labrador. Wabush 3 is a new pit that will be developed within IOC's existing mine operations to extend... 

St Augustine certain Philippine mineral sharing accord will withstand legal scrutiny

23rd February 2017 TSX-listed St Augustine Gold and Copper (SAGC) this week said its mineral production sharing agreement (MPSA), which covers the King-king copper/gold project in Mindanao, Philippines, will withstand legal scrutiny after authorities earmarked the permit for cancellation. The Philippine Department... 

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