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Pt 1039.50 $/oz Change: -15.00
 

North America News

Ferrochrome price in sharp rise

By: Martin Creamer     Updated 3 hours ago The European benchmark ferrochrome price for the fourth quarter of 2016 has been settled at 110c a pound, 12.2% up on the 98c-a-pound price of the third quarter. Johannesburg Stock Exchange-listed Merafe Resources said last month that it expected to benefit from renewed positive ferrochrome... 

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Skeena completes acquisition of Mount Rainey Silver

By: Henry Lazenby     24th September 2016 Junior explorer Skeena Resources' acquisition of Mount Rainey Silver has closed, giving it access to mineral claims covering the past-producing, underground Prosperity–Porter Idaho–Silverado silver property, in north-west British Columbia’s ‘Golden Triangle’. Mount Rainey Silver's primary asset... 

North American Aboriginals, First Nations join hands to thwart domestic oil development 

By: Henry Lazenby     23rd September 2016 Canadian and Northern US Aboriginal groups and First Nations have, this week, adopted the Treaty Alliance Against Tar Sands Expansion, seeking to officially prohibit and collectively challenge and resist oil sands industry expansion in Alberta. This extends to preventing the transport of such... 

North American Aboriginals, First Nations join hands to thwart domestic oil development

MacLean Engineering to supply battery-powered fleet for Goldcorp’s diesel-free Borden mine

By: Creamer Media Reporter      23rd September 2016 Goldcorp is planning to build what is expected to be the world's first diesel-free hard rock gold mine at its Borden project, near Chapleau, Ontario. The company has appointed Collingwood, Ontario-based MacLean Engineering to provide a fleet of battery-powered mobile underground mining equipment... 

Greenland Minerals teams up with Shenghe on Kvanefjeld development

By: Mariaan Webb     23rd September 2016 Shanghai-listed rare earths company Shenghe Resources will acquire a 12.5% interest in Greenland Minerals and Energy (GMEL) and enter into a strategic working relationship with the Australia-listed company to advance the Kvanefjeld project. Shenghe downstream processing subsidiary Leshan Shenge... 

Almonty drops planned offer for ATC Alloys on Vietnam JV woes

By: Mariaan Webb     23rd September 2016 Canada-based Almonty Industries has dropped its planned offmarket takeover offer for ATC Alloys (ATA), after the Australia-listed company’s ferrotungsten joint venture (JV) in Vietnam ran into trouble. ATA has moved to remove its 40% partner Guangyu Chen as a director of the JV company – Hong... 

Uranium prices sink lower amid oversupply

By: Bloomberg     23rd September 2016 Uranium prices have gone from bad to worse, slumping to an 11-year low as brimming global inventories weigh on a market that hasn’t recovered from the Fukushima disaster in Japan. Spot uranium declined 1.4% to $24.40/lb on Thursday, the lowest since April 2005, according to data from Ux... 

Brazil's Vale has not decided on sale of fertiliser unit – filing

By: Reuters     23rd September 2016 The board of directors of Brazilian mining company Vale has not yet made a decision on selling a stake in its fertiliser unit, the company said in a securities filing on Thursday. The Rio de Janeiro-based company, the world's largest exporter of iron ore, is still looking for a strategic partner... 

Rockwell in ‘state of despair’, new CEO steers operational turnaround 

By: Henry Lazenby     23rd September 2016 South Africa-focused alluvial diamond miner Rockwell Diamonds is in a “state of despair”, its incoming chief executive said on Thursday, adding that the company will implement a comprehensive operational turnaround. “From my observations to date on the general health of the business and... 

Rockwell in ‘state of despair’, new CEO steers operational turnaround
Incoming Rockwell CEO Tjaart Willemse

Nevada Sunrise signs definitive agreement for Gemini JV with Eureka

By: Henry Lazenby     22nd September 2016 TSX-V-listed explorer Nevada Sunrise and 50:50 joint venture (JV) partner Eureka Resources have formalised their relationship with regard to the Gemini lithium project with the signing of a definitive JV agreement. Nevada Sunrise acquired the Gemini project, located in Nevada’s Lida Valley, in... 

Metanor to move quickly with Barry start-up on positive PEA

By: Henry Lazenby     22nd September 2016 Project developer Metanor Resources will move quickly with the start-up of operations at its Barry project, in Quebec, after publishing positive results of a preliminary economic assessment on Thursday. Prepared by GoldMinds Geoservices, the C$8.5-million start-up cost for the project paled in... 

End-to-end mechanisation edging South Deep forward – Gold Fields

By: Martin Creamer     22nd September 2016 South Deep, Gold Fields’ fully mechanised deep-level gold mine, has reached the point of honouring its full mining value chain with on-the-go ground support, simultaneous backfilling of the voids created, an extension of mechanising to hanging wall and side wall drilling, and mesh support... 

End-to-end mechanisation edging South Deep forward – Gold Fields
Photo by Duane Daws
Gold Fields CEO Nick Holland

Five Rio Tinto workers arrested for fraud at Canadian smelter

By: Bloomberg     22nd September 2016 Five former workers at a Rio Tinto Group aluminum smelter in Quebec were arrested following a fraud investigation initiated by the company almost two years ago. The alleged fraud involved fake invoices from a former subcontractor of the company, according to a statement Wednesday from Surete du... 

Chile's SQM will boost annual lithium hydroxide capacity by 7 500 t

By: Reuters     22nd September 2016 Chilean fertiliser and chemical producer SQM will invest around $30-million by the end of 2017 to increase its annual lithium hydroxide production capacity by 7 500 t, the company said in a press release on Wednesday. As part of the plan to boost capacity from 6 000 t to 13 500 t, the company... 

Rambler ramps up output, meets or exceeds most 2016 targets

By: Henry Lazenby     22nd September 2016 Rambler Metals and Mining has met or exceeded most of its production targets for the 2016 fiscal year ended July 31 at its flagship Ming mine, in Newfoundland and Labrador. While copper concentrate grades at 26.9% fell just short of the lower end of its targeted 27% to 29% guidance, gold and... 

Trevali expands high-grade Santander deposits, makes new hanging wall discovery

By: Henry Lazenby     21st September 2016 The TSX-listed stock of base metals producer Trevali Mining has risen to a new 52-week high after the company reported positive exploration results from its Santander mine, in Peru. Vancouver-based Trevali reported results from twelve new drill holes of the ongoing 2016 underground exploration... 

Big gold miners see muted M&A as bullion's rise limits bargains

By: Reuters     21st September 2016 The world's biggest gold miners will stay shy of big acquisitions, top executives said this week, noting that a jump in the price of bullion has made potential purchases pricey, and memories of failed deals linger. The need for financial discipline was the dominant theme at the Denver Gold Forum... 

Big gold miners see muted M&A as bullion's rise limits bargains

With a bird in hand, Northern Superior targets fall drill campaign to grow openpitable resource 

By: Henry Lazenby     21st September 2016 With a compliant six-figure inferred resource in hand, project generator Northern Superior Resources is preparing for aggressive growth campaigns this fall and winter at some of its Quebec- and Ontario-based assets. After going into hibernation mode in 2012, with the intensification of the... 

With a bird in hand, Northern Superior targets fall drill campaign to grow openpitable resource

De Beers, partner officially open Gahcho Kué mine

By: Creamer Media Reporter      21st September 2016 De Beers and its joint venture partner Mountain Province Diamonds have officially opened the Gahcho Kué diamond mine, in Canada, which will produce about 54-million carats of rough diamonds over its 12-year mine life. Gahcho Kué is the world’s largest new diamond mine to have been developed in... 

De Beers, partner officially open Gahcho Kué mine

After 40 years of boom, bust hits America’s cowboy coal basin

By: Bloomberg     21st September 2016 The last bastion of the American coal industry has been breached. The bust that’s devastated Appalachia for five years has finally reached cowboy country’s Powder River Basin. For four decades, the 300-mile corridor stretching from Wyoming north into Montana thrived on the strength of the cleaner... 

Glencore sees nickel price rising on global supply shortage

By: Bloomberg     21st September 2016 Glencore, the commodities trader and miner, expects nickel prices to climb through 2018 as demand outstrips supply, assuming Indonesia continues its policy of curbing ore exports and encouraging local processing. “We believe we’ve seen the bottom, both in terms of the actual spot prices... 

BHP continues to fight Australia on A$1bn tax bill

By: Esmarie Swanepoel     21st September 2016 Mining giant BHP Billiton is continuing to dispute taxes levied by the Australian Taxation Office (ATO) on the company’s Singapore marketing hub activity, saying in its yearly taxation report on Wednesday that it will initiate court action if necessary. The ATO has struck BHP with a... 

BHP continues to fight Australia on A$1bn tax bill

Gold bull McEwen sees prices as high as $1 900 by end of year

By: Bloomberg     21st September 2016 Robert McEwen, one of the gold’s industry’s most unabashed bulls, is predicting prices could surge as much as 44% by the end of the year as confidence in the economy buckles. The metal could trade in a range of $1 700/oz to $1 900/oz by the end of 2016 as uncertainty builds around the stability... 

Gold bull McEwen sees prices as high as $1 900 by end of year
Photo by Bloomberg
McEwen Mining chief owner Robert McEwen

Rare Earth Mineral lifts Bacanora stake to nearly 20%

By: Henry Lazenby     21st September 2016 Aim-listed Rare Earth Mineral (REM) has agreed to raise its stake in Aim- and TSX-V-listed lithium and borates company Bacanora Minerals to 19.8% through an ‘on-market’ transaction valued at £4.5-million. The transaction is expected to close before month-end. REM advised that it holds a 30% joint... 

Osisko hits high-grade sods at ‘company-making’ Windfall Lake

By: Henry Lazenby     21st September 2016 Explorer and project consolidator Osisko Mining has hit some high-grade returns with recent exploration work at its Quebec-based Windfall Lake gold project, reporting intersections containing as much as 391 g/t gold over 3.1 m (uncut). The Montreal-based company is currently undertaking an... 

Barrick sees ‘perfect storm’ brewing around cost-effective renewables

By: Creamer Media Reporter      20th September 2016 Renewable-energy sources have reached the stage where they can reduce energy costs as well as emissions, Barrick Gold’s senior manager of energy and greenhouse gases (GHGs), Russell Blades, tells Energy and Mines. “We are seeing a ‘perfect storm’ brewing around renewables. Solar and energy... 

Barrick sees ‘perfect storm’ brewing around cost-effective renewables
Photo by Energy & Mines
Barrick's 20 MW Punta Colorada wind farm, Chile

Taseko in hot pursuit of Gibraltar’s high-grade copper core

By: Henry Lazenby     20th September 2016 The TSX-listed stock of copper producer Taseko Mines spiked up to 13.33% on Tuesday morning on news that the company has discovered a new high-grade copper deposit at its Gibraltar mine, in British Columbia. Vancouver-based Taseko has intersected more than 341.4 m of varying copper grades at its... 

Taseko in hot pursuit of Gibraltar’s high-grade copper core

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

Cost-conscious major miners look to agility of junior explorers

By: Reuters     20th September 2016 Tight budgets and nervous investors have convinced major miners that a cheap, timely way to ensure a strong pipeline of quality assets is to team up with junior, more nimble exploration firms. Miners have slashed costs by delaying projects, sold assets and cut exploration budgets to free up cash... 

SA’s cost-of-doing-business ranking badly down – Chamber

By: Martin Creamer     20th September 2016 South Africa has plummeted to an abysmally low level in the World Bank’s 160-country cost-of-doing-business rankings. On the bank’s Doing Business scale, which measures the fitness of a country’s economy to grow and compete, South Africa has tumbled 15 notches since 2007, from position number 58,... 

SA’s cost-of-doing-business ranking badly down – Chamber
Chamber of Mines CEO Roger Baxter

Iron’s 50m extra tons spell weaker price – Liberum

By: Bloomberg     20th September 2016 The world’s top iron-ore suppliers including Brazil’s Vale will add almost 50-million tons of supply in the 12 months to next June, undermining prices and feeding a global glut, according to Liberum Capital. Suppliers that also include Australia’s BHP Billiton, Rio Tinto and Gina Rinehart’s Roy... 

World’s top gold miners locked in standoff in Australian outback

By: Bloomberg     20th September 2016 Deep in the heart of Australia’s dusty outback, the world’s biggest gold mining companies are locked in a standoff. At the centre of the impasse is a 50% stake in the country’s largest openpit gold mine, known as the Kalgoorlie super pit. Barrick Gold, the No. 1 bullion producer, wants to sell... 

World’s top gold miners locked in standoff in Australian outback
Kalgoorlie Super Pit

Updated PFS shows Seabridge’s KSM profitable at current prices

By: Henry Lazenby     20th September 2016 British Columbia-focused Seabridge Gold has published an updated preliminary feasibility study (PFS) on its Kerr-Sulphurets-Mitchell (KSM) project, updating the project capital and operating costs to the 2016 economic environment. The company said on Monday that, building on a similar treatise... 

Primero reports exploration upside

By: Henry Lazenby     20th September 2016 The TSX-listed stock of precious metals producer Primero Mining on Monday rose as much as 4% after it reported positive exploration results at its Black Fox mine, in Ontario, as well as at its San Dimas mine and the Lechugilla concession, in Mexico. Vancouver-based Primero reported that initial... 

Barrick says Argentina mine may resume within two weeks

By: Reuters     19th September 2016 Barrick Gold's Veladero gold mine, in Argentina, one of its five core mines, could resume operations in the next two weeks, Barrick president Kelvin Dushnisky said in an interview on Monday. "I am hopeful that it could be up and going in that kind of two-week window depending on how the... 

Barrick says Argentina mine may resume within two weeks

Barrick could meet 2016 debt cut target from cash flow – president

By: Reuters     19th September 2016 Barrick Gold expects to be able to reach its target of reducing debt by $2-billion by year-end even without selling any assets, company president Kelvin Dushnisky said on Monday. "We are confident we will get to our $2-billion mark with or without an asset sale . . . presuming gold prices... 

TomaGold broadens reach to Chile through Red Metal Resources acquisition

By: Henry Lazenby     19th September 2016 Canadian gold explorer TomaGold is expanding into Chile, after announcing Monday that it had signed a letter of intent (LoI) to acquire all the outstanding shares of Red Metal Resources. The proposed acquisition will give TomaGold ownership of, or options to own, 100% of the Farellon, Perth and... 

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