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North America News

Gold bull McEwen sticks with his $5 000 call as pot stocks peak

By: Bloomberg     18th January 2019 Gold mining veteran Rob McEwen is nothing if not optimistic. The founder of Goldcorp is sticking with his bold prediction that the precious metal will soar almost fourfold to $5 000/oz, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. 

Three named to En+ voting trust as Deripaska looks to reduce stakes

By: Reuters     18th January 2019 Russian conglomerate En+ Group on Friday named three Americans who will form a voting trust to help Oleg Deripaska reduce his stake in the company in exchange for a waiver from US sanctions. Deripaska has agreed to reduce his stake in London-listed En+ to 44.95% from 70% and assign any voting... 

IEA sees oil demand growth defying economic slowdown for now

By: Bloomberg     18th January 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is... 

Goldcorp names #DisruptMining semi-finalists

By: Creamer Media Reporter      18th January 2019 The six semi-finalists for #DisruptMining 2019 and the five 'sharks' who will judge the live finale of Goldcorp's yearly innovation challenge have been named. 

Leagold outlines plans for expanded Los Filos mine

By: Creamer Media Reporter      18th January 2019 The Los Filos gold mine in Mexico that Leagold bought from Goldcorp almost two years ago has the potential to be expanded to 350 000 oz/y, the Canadian company reported this week, announcing the results of an expansion feasibility study. The study incorporates the potential for the development... 

Geologist of Canadian/Aussie JV project murdered in Burkina Faso

By: Esmarie Iannucci     18th January 2019 ASX-listed Predictive Discovery has announced the death of a senior employee of its Canadian joint venture (JV) partner, Progress Minerals, at the Progress JV in Burkina Faso. Canadian geologist Kirk Woodman was kidnapped from an exploration camp in Burkina Faso on January 15, and his body was... 

Rio Tinto’s copper output, iron-ore shipments rise

By: Esmarie Iannucci     18th January 2019 Diversified major Rio Tinto has reported higher iron-ore and copper production for the quarter ended December, with other commodities remaining stable. “We delivered a solid operational performance in the final quarter of 2018, in particular across our copper assets,” said Rio CEO Jean-Sebastian... 

Rio Tinto’s copper output, iron-ore shipments rise
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Asanko progresses Esaase trial mining, exceeds production guidance

By: Marleny Arnoldi     17th January 2019 TSX- and NYSE-listed Asanko Gold delivered a strong operational performance in the final quarter of 2018, producing 59 823 oz of gold, taking full year output to 223 152 oz. This was above guidance of 200 000 oz to 220 000 oz.  

Asanko progresses Esaase trial mining, exceeds production guidance
Asanko gold mine, in Ghana

Empowered Kwatani benefits local mining industry

By: Schalk Burger     17th January 2019 Industrial and mining vibrating screens manufacturer Kwatani has achieved a level-1 broad-based black economic empowerment (BBBEE) score and is 51% black women-owned. This BBBEE accreditation affords significant benefits to its mining clients that can claim 135% of money spent on Kwatani.... 

Empowered Kwatani benefits local mining industry
Kwatani CEO Kim Schoepflin

Sibanye adds global experience to safety panel 

By: Marleny Arnoldi     17th January 2019 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has established a Global Safe Production Advisory Panel, after identifying the need for an additional safety initiative in 2018. The panel consists of a group of leading academics and is chaired by Sibanye group safety head Dr Kobus... 

Avesoro lifts FY18 output by 15% y/y, progresses New Liberty undergound PFS

By: Marleny Arnoldi     17th January 2019 TSX- and Aim-listed gold producer Avesoro Resources exceeded its 2018 full year guidance, with 220 458 oz of gold produced from its New Liberty mine, in Liberia, and the Youga mine, in Burkina Faso. Avesoro’s yearly production increased by 15% compared with 2017, with a 44% year-on-year... 

B2Gold production surges as new Mali mine outperforms

By: Mariaan Webb     17th January 2019 For ten consecutive years, Canada’s B2Gold has booked record gold production and 2018 was no different, with the miner lifting output by 51% to 953 504 oz in what it describes as a “year of transformational growth”. Production received a major boost from the new large Fekola mine, in Mali, which... 

South32 delivers solid Q2 results; announces leadership shuffle 

By: Esmarie Iannucci     17th January 2019 Diversified miner South32 has reported a solid production performance in the December quarter, with the miner maintaining its production guidance for the full year to June 2019. “We achieved a strong quarter of production, maintaining full-year guidance for all operations with the exception of... 

South32 delivers solid Q2 results; announces leadership shuffle
Photo by Bloomberg
South32 CEO Graham Kerr

Gran Colombia FY output up 25%

By: Creamer Media Reporter      17th January 2019 Canada-based Gran Colombia has delivered a 25% production increase in 2018, with output rising to 218 001 oz, surpassing the company’s initial guidance for the year. The Segovia operations, in Colombia, continue to be the key catalyst for the midtier miner’s gold production, with the operations... 

GOP senate backs end to sanctions on firms tied to Putin ally

By: Bloomberg     17th January 2019 The Senate blocked a Democratic bid to force the Treasury Department to keep sanctions on three Russian companies linked to oligarch Oleg Deripaska, as most Republicans backed the Trump administration’s plan to lift the penalties. The 57-42 Senate vote Wednesday was three short of the 60 needed... 

Alcoa beats profit estimates on strength in alumina segment

By: Reuters     17th January 2019 Top US aluminum producer Alcoa Corp beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment, but shares slipped after the company did not provide a closely watched profit measure for the full year. The company's shares were down 1.6% in extended... 

Iamgold meets guidance, says Cote decision expected in Q1

By: Mariaan Webb     17th January 2019 Midtier miner Iamgold produced 231 000 oz in the fourth quarter of 2018, bringing the year’s production to 882 000 oz, comfortably meeting its guidance of 850 000 oz to 900 000 oz. In a preliminary production announcement, the company said on Wednesday that it had a record production year at its... 

Stornoway misses guidance in ‘challenging’ year

By: Mariaan Webb     17th January 2019 Quebec’s diamond miner, Stornoway, produced 1.32-million carats from the processing of 2.33-million tonnes of ore in the 2018 financial year, missing its guidance of recovering at least 1.35-million carats from the processing of 2.5-million tonnes of ore. In its fourth-quarter and 2018... 

Hudbay investor seeks to replace CEO and most of its board

By: Bloomberg     17th January 2019 Hudbay Minerals’s second-largest investor is seeking to oust the Toronto miner’s CEO and replace most of its board. Waterton Global Resource Management will nominate eight new directors at Hudbay’s upcoming annual meeting with a slate that includes former mining executive Peter Kukielski and... 

Hudbay investor seeks to replace CEO and most of its board

Platinum price fall worsening plight of job-intensive mines 

By: Martin Creamer     16th January 2019 The latest fall of the platinum price is threatening to become the last straw that broke the camel’s back for some deep labour-intensive platinum group metals (PGMs) mines on particularly the western limb of the Bushveld Complex, Mining Weekly Online can today report. Well ahead of the latest... 

Platinum price fall worsening plight of job-intensive mines
Platinum price fall pressurising mines.

Detour reports ‘best-ever’ quarterly results

By: Mariaan Webb     16th January 2019 Canadian miner Detour Gold has delivered its “best-ever” quarterly production result in the final three months of 2018, which interim CEO Bill Williams said on Tuesday confirmed that the operational changes throughout last year had had a positive impact. Williams was appointed to his position... 

Detour reports ‘best-ever’ quarterly results
The Detour Lake gold mine

Iamgold in $170m prepayment deal

By: Creamer Media Reporter      16th January 2019 Midtier mining company Iamgold has entered into a $170-million prepayment agreement for 150 000 oz of gold, the company announced on Tuesday. The floor price has been set at $1 300/oz and the cap price at $1 500/oz. 

Lundin’s strong Q4 boosts full-year production results

By: Nadine James     16th January 2019 TSX-listed Lundin Mining has achieved, or exceeded, its yearly guidance at all of its operations, the diversified miner announced on Tuesday, releasing production results for the three and twelve months ended December 31, 2018. The company produced 48 206 t of copper in the fourth quarter, taking... 

Lundin’s strong Q4 boosts full-year production results

TMAC completes permitting for Madrid and Boston

By: Creamer Media Reporter      16th January 2019 Emerging miner TMAC Resources has received two water licences for the Madrid and Boston projects, thereby wrapping up permitting for the three new mines that the company is planning near its existing Doris mine, in Nunavut. The Madrid North, Madrid South and Boston mine will be linked by a 55 km... 

Centerra reports production results, sets guidance for 2019

By: Mariaan Webb     16th January 2019 Midtier miner Centerra Gold produced 729 556 oz of gold in 2018, a 7% decrease from that of 2017, but above the company’s guidance of 665 000 oz to 705 000 oz for the year. Centerra, which operates the water-constrained Mt Milligan mine, in British Columbia, and the Kumtor mine, in Kyrgyzstan,... 

Pacific American Coal increases Elko resource

By: Esmarie Iannucci     16th January 2019 Coal developer Pacific American Coal has reported an 18% increase in the Joint Ore Reserves Committee compliant resource of its Elko coking coal project, in British Columbia. The project is now estimated to host some 303-million tonnes of coal, with 117-million tonnes of the resource classified... 

Pimco favours 'unloved' platinum that's looking cheap to gold

By: Bloomberg     16th January 2019 Platinum could be the dark horse among precious metals, according to a money manager at Pacific Investment Management Co. Nic Johnson, Pimco’s managing director and portfolio manager for commodities, says he prefers the metal over gold. Used in autocatalysts of diesel engines and jewelry, it’s... 

Ford, IBM among quartet in Congo cobalt blockchain project

By: Reuters     16th January 2019 Carmaker Ford, technology giant IBM, South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. The pilot, overseen by responsible-sourcing group RCS Global, aims to help... 

Senate advances measure to keep sanctions on Deripaska companies

By: Bloomberg     16th January 2019 The Senate advanced a resolution to block the Treasury Department from lifting sanctions on three Russian companies linked to oligarch Oleg Deripaska, with 11 Republicans aiding Democrats in a rare split with President Donald Trump. The 57-42 vote to take up the measure Tuesday came shortly... 

Gold veteran says bigger may not be better as M&A blitz hits

By: Bloomberg     16th January 2019 The $15-billion flurry of deal-making that will super-size the gold industry’s leading producers is no guarantee of better performance, according to an Australian miner who’s been outpacing larger competitors. Rising gold prices and a hunt to boost additional reserves of the precious metal have... 

Gold veteran says bigger may not be better as M&A blitz hits
Evolution Mining's Jake Klein

Anglo American begins quest to unearth next CEO 

By: Reuters     15th January 2019 Anglo American has promoted a section head it considers to have CEO potential, focusing its attention on internal talent as it begins searching for a successor to the man who steered the mining company through the 2015/16 commodities price slump. CEO Mark Cutifani has won plaudits for his... 

Anglo American begins quest to unearth next CEO
Photo by Creamer Media
Mark Cutifani

IDM wins environmental approval for Red Mountain

By: Creamer Media Reporter      15th January 2019 Canada’s Environment and Climate Change Minister Catherine McKenna has announced an environmental decision for the underground gold and silver mine that IDM Mining is proposing near Stewart, British Columbia. The Minister said that the proposed mine was not likely to cause significant adverse... 

McEwen output tops guidance

By: Mariaan Webb     15th January 2019 NYSE- and TSX-listed gold miner McEwen Mining reported on Tuesday that its 2018 production had topped its guidance, with gold equivalent output (GE) rising to 175 561 oz, comprising 135 124 oz of gold and 3.03-million ounces of silver. The production compares with 152 329 oz of GE in 2017, and... 

Yamana Gold production hits 1Moz

By: Mariaan Webb     15th January 2019 Canadian miner Yamana Gold’s production has hit one-million ounces on a gold-equivalent (GE) basis, the company, which operates six mines, announced on Monday. In its preliminary fourth-quarter and 2018 operational results announcement, Yamana reported GE production 1.04-million ounces for the... 

Alamos lifts FY18 output by 18% y/y

By: Tasneem Bulbulia     15th January 2019 Alamos Gold produced 505 000 oz of gold in 2018, meeting its guidance and marking an 18% year-on-year increase. “This was driven by strong performances from Mulatos [,in Mexico] and Island Gold [,in Canada], the latter setting a new record for production and continuing to demonstrate strong... 

Opec+ plans review in Baku in March, Ministers' Meeting in April

By: Bloomberg     15th January 2019 Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial... 

Sibanye, Lonmin extend merger longstop date to June

By: Marleny Arnoldi     15th January 2019 Precious metals miner Sibanye-Stillwater and platinum group metals miner Lonmin have agreed to extend the longstop date for the transaction in which Sibanye will acquire all of Lonmin’s issued share capital from February 28 to June 30. This follows after the Association of Mineworkers and... 

Sibanye banks on US mines, high palladium price as South African strike spreads 

By: Marleny Arnoldi     15th January 2019 In response to the Association of Mineworkers and Construction Union’s (AMCU’s) secondary strike action announcement, Sibanye-Stillwater CEO Neal Froneman on Tuesday said the company had been preparing its local platinum operations for this outcome and had contingency plans in place. AMCU on... 

Sibanye banks on US mines, high palladium price as South African strike spreads
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman
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