R/€ = 16.01 Change: 0.08
R/$ = 14.03 Change: 0.18
Au 1221.39 $/oz Change: 5.90
Pt 847.00 $/oz Change: 5.21

North America News

Nespresso to use Rio Tinto’s responsibly-sourced aluminium in coffee capsule production

By: Marleny Arnoldi     Updated 2 hours 12 minutes ago Nespresso, an operating unit of Nestlé Group, will be the first company to use responsibly-sourced aluminium from global miner Rio Tinto to produce its coffee capsules. The two companies have signed a memorandum of understanding (MoU) to work together with Nespresso’s capsule manufacturers to... 

Lundin confirms job cuts at Chile's Candelaria copper mine

By: Reuters     18th November 2018 Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike. In a statement sent to Reuters, the company said the job cuts represented less than 2% of... 

Barrick Gold eyes assets, exploration as it plots new phase

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Barrick Gold eyes assets, exploration as it plots new phase
Mark Bristow

Barrick Gold aims to boost dividend in future – incoming CFO

By: Bloomberg     16th November 2018 Barrick Gold intends to grow future dividends via stronger operating cash flows, non-core asset sales and lower overhead and interest costs, the incoming CFO said in an investor presentation Friday. "The company has made it very clear that paying dividends will be a key deliverable and... 

Teck to announce Chile project partner in December

By: Mariaan Webb     16th November 2018 Canadian miner Teck Resources is making good progress with the process of bringing a partner into its northern Chile copper development project and plans to announce a transaction next month, CEO Don Lindsay said on Thursday. The company sees the Quebrada Blanca Phase 2 expansion as its most... 

Leagold announces 122% increase in Los Filos openpit reserves

16th November 2018 Latin America-focused Leagold has announced an increase in the proven and probable mineral reserves at the Los Filos openpit, in Mexico, to 40.5-million tonnes, grading 0.60 g/t containing 780 000 oz. This represents a 122% increase over the December 2017 estimate of 351 000 oz. 

Supreme Court to hear appeal in long-running Rio Tinto IOC-Innu suit

By: Mariaan Webb     16th November 2018 The Supreme Court of Canada has agreed to hear an appeal by the government of Newfoundland and Labrador on the issue of the jurisdiction of Quebec courts in respect of the Innu communities of Uashat mak Mani-Utenam and Matimekush-Lac’s C$900-million lawsuit against a unit of global miner Rio... 

NWT govt selects proponent to build Tlicho road

By: Creamer Media Reporter      16th November 2018 The Northwest Territories government has selected its preferred proponent to fund, construct, operate and maintain the Tlicho all-season road, which TSX-listed Fortune Minerals will use for its Fortune cobalt/gold/bismuth/copper mine project. The preferred proponent is North Star Infrastructure,... 

Palladium soars to record on tight supply, bets on China demand

By: Bloomberg     16th November 2018 Palladium surged to a record on bets that the Chinese auto industry will buoy global demand amid tight supplies of the metal used in vehicle pollution-control devices. Spot palladium rose as much as 4.6 percent to an all-time high of $1 180.26 an ounce, capping a third straight gain. The... 

Palladium soars to record on tight supply, bets on China demand

DRC lifts export ban on Glencore's copper and cobalt unit 

By: Bloomberg     16th November 2018 A Glencore unit in the Democratic Republic of Congo (DRC) had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country. “They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone.... 

Iamgold doubles credit facility; Rosebel strike ends

By: Creamer Media Reporter      16th November 2018 Canada-based gold miner Iamgold on Thursday announced that it had doubled its credit facility and said in a separate statement that the work stoppage at its Rosebel mine, in Suriname, had ended. To fund its organic growth projects, The company amended its revolving credit facility, with the... 

K+S cuts outlook after dry weather weighs on production

By: Reuters     15th November 2018 German potash miner K+S lowered its full-year earnings guidance on Thursday after a severe drought hampered production at its main mine network in the third quarter. The company now forecasts earnings before interest, taxes, depreciation and amortisation (Ebitda) between €570-million and... 

Detour seeks to end proxy fight with Paulson & Co

By: Mariaan Webb     15th November 2018 Canadian miner Detour Gold on Thursday moved to end an increasingly acrimonious proxy fight with Paulson & Co by committing to include two of the US hedge fund’s nominees on its board and pledging to start a CEO search “immediately” after settling the proxy contest. Paulson nominees Steven... 

Detour seeks to end proxy fight with Paulson & Co
The Detour Lake mine

Kari Pump discovery adds 987 000 oz to mineral resource at Endeavour’s Houndé mine

By: Marleny Arnoldi     15th November 2018 TSX-listed Endeavour Mining on Thursday announced a maiden resource estimate of 11.3-million tonnes grading 2.71 g/t gold, containing 987 000 oz, for the Kari Pump discovery at the company’s flagship Houndé mine, in Burkina Faso, increasing the mine’s measured and indicated resources by 40%.... 

Paramount Gold acquires prospect near Grassy Mountain

By: Creamer Media Reporter      15th November 2018 US gold company Paramount Gold has entered into an agreement to acquire a high-grade prospect near its Grassy Mountain project, in eastern Oregon, from a subsidiary of Ely Gold Royalties. The Frost project totals about 360 ha and is seen as a low-cost way of expanding the mine life of the Grassy... 

Lydian chairperson resigns

By: Creamer Media Reporter      15th November 2018 Gordon Wylie has resigned as the chairperson and director of the board of Lydian International to pursue other interests, the developer of the Amulsar mine, in Armenia, reported. Russell Ball has been appointed chairperson of the board. 

Now export duty dispute halts Katanga’s copper exports 

By: Mariaan Webb     15th November 2018 Merely a week after Glencore subsidiary Katanga Mining halted cobalt exports from its Kamoto mine, in the Democratic Republic of Congo (DRC), its copper exports have also been suspended as a result of an alleged failure to declare and pay duties on 6 650 t of copper in late 2015, early 2016. In... 

Now export duty dispute halts Katanga’s copper exports

Global exploration up 19%; cobalt/lithium budgets soar 

By: Esmarie Iannucci     15th November 2018 The budget for global non-ferrous exploration has increased by 19% year-on-year, to $10.1-billion, new data from S&P Global Market Intelligence has revealed. This was the second consecutive year where there has been an upturn in exploration spend, with S&P reporting on Thursday that junior... 

Global exploration up 19%; cobalt/lithium budgets soar

Sibanye-Stillwater concludes gold wage agreement with three unions

By: Marleny Arnoldi     15th November 2018 JSE- and NYSE-listed gold miner Sibanye-Stillwater has signed a three-year wage agreement with the National Union of Mineworkers, Solidarity and UASA for the period July 2018 to June 2021. The agreement allows for increases to the basic wage of Category 4 to 8 surface and underground employees... 

Sibanye-Stillwater concludes gold wage agreement with three unions

China plumbs ocean depths to extend its cobalt lead

By: Reuters     15th November 2018 China, the leading holder of international deep sea exploration licences, has increased its lead in the race for alternative sources of battery minerals by taking samples from cobalt-bearing mountains deep in the Pacific. The cobalt-rich crusts could one day curb the world's dependence on cobalt... 

China plumbs ocean depths to extend its cobalt lead

Stornoway names new CEO; posts Q3 loss

By: Mariaan Webb     14th November 2018 Canadian miner Stornoway Diamonds has appointed a new CEO to succeed Matt Manson on January 1, it said on Wednesday, after reporting an adjusted third-quarter net loss of C$31.7-million, sending its shares down 12% on the TSX. Patrick Godin, currently the COO, will succeed Manson, who has been... 

Stornoway names new CEO; posts Q3 loss
Stornoway's outgoing CEO Matt Manson

Monarques graduates to TSX

By: Creamer Media Reporter      14th November 2018 Abitibi mining camp gold miner Monarques Gold has received final approval for the listing of the common shares on the TSX, starting on November 15. The company will deslist from the TSX-V at the start of trading on the TSX. 

Premier Gold Mines buys land adjacent to South Arturo

By: Creamer Media Reporter      14th November 2018 Ontario-headquartered Premier Gold Mines has entered into an option agreement to acquire a land package adjoining its 40%-owned South Arturo property in Nevada, US. The Rodeo Creek property is a 206 ha land package, consisting of 31 unpatented claims in the Carlin Trend, where Premier has... 

Copper industry sees green shoots of demand after trade war price slump

By: Reuters     14th November 2018 The outlook for copper demand in the mid to long term remains healthy despite current trade friction between China and the United States as a renewable energy revolution will require vast amounts of the metal, industry executives said on Wednesday. Delegates at the Asia Copper Conference in... 

Delayed gold shipments hit Serabi Q3 revenue

By: Mariaan Webb     14th November 2018 Aim- and TSX-listed Serabi Gold has reported a significant drop in third-quarter revenue as a result of the timing of gold sales, with two shipments of concentrate, valued at about $1.6-million, having been delayed to the fourth quarter. The miner, which operates the Palito Mining Complex in... 

Peregrine, NexGen and Cardinal among leaders honoured in PDAC awards

By: Creamer Media Reporter      14th November 2018 The Prospectors and Developers Association of Canada (PDAC) has announced the winners of its yearly awards, which recognise the work of international and domestic leaders in the mineral exploration and mining community. The Bill Dennis award went to Peregrine Diamonds, which discovered the... 

Pan American Silver buys Tahoe Resources

By: Mariaan Webb     14th November 2018 The world’s second-largest primary silver producer, Pan American Silver, is about to get bigger with the $1.07-billion acquisition of Tahoe Resources, which owns the troubled Escobal silver mine, in Guatemala, in addition to gold mines in Peru and Canada. Pan American Silver, which operates six... 

Pan American Silver buys Tahoe Resources
Escobal is the world's second-largest silver mine.

Congo State miner wants meeting over Katanga cobalt export halt 

By: Bloomberg     14th November 2018 The Democratic Republic of Congo’s state-owned miner sought an urgent meeting to discuss a decision by Glencore unit Katanga Mining last week to halt cobalt exports. Katanga, controlled by Glencore, announced November 6 it suspended sales from its Kamoto mine in southeast Congo after detecting... 

Congo State miner wants meeting over Katanga cobalt export halt

Electric vehicle revolution goes underground with mining trucks  

By: Bloomberg     14th November 2018 Electric vehicles are reaching global markets far and wide – and deep. Swedish mining equipment maker Epiroc is launching a new range for use underground. The manufacturer on Wednesday unveiled what it said is the largest battery-powered vehicle for below the Earth’s surface: a 42 ton-capacity... 

Leagold to restart RDM ahead of plan

By: Creamer Media Reporter      14th November 2018 The water storage facilities at the RDM mine have reached sufficient levels to restart operations, Latin America-focused Leagold said on Tuesday, announcing a planned restart date of November 20. This is about two weeks ahead of the previously anticipated schedule, CEO Neil Woodyer reported. 

Workers at Iamgold’s Rosebel down tools

By: Creamer Media Reporter      14th November 2018 Unionised employees at the Rosebel gold mine, in Suriname, have downed tools, triggering a force majeure to suspend operations at the mine. Canadian miner Iamgold said on Tuesday that the strike was in breach of a collective labour agreement (CLA) and that it would prepare legal action against... 

Hudbay sets date for special shareholders meeting

By: Creamer Media Reporter      14th November 2018 Toronto-headquartered Hudbay Minerals has set February 28 for a special meeting of the company’s shareholders to consider an advisory resolution requisitioned by Waterton Global Resource Management. Waterton, a 7% shareholder of Hudbay, in October requested changes to Hudbay’s board, citing the... 

Blackrock Gold US president Brian Morris killed

By: Mariaan Webb     14th November 2018 Brian Morris, the newly hired president of Canadian explorer Blackrock Gold’s US subsidiary, has been killed at the weekend, after stopping to assist at the scene of a car accident in Reno, Nevada. Morris also served on the board of Havilah Mining and has been hailed as a “gifted person”, with a... 

Harry Winston jeweler buys 'Pink Legacy' diamond for record $50m – Christie's

By: Reuters     14th November 2018 The "Pink Legacy", a diamond weighing just under 19 carats, fetched a record 50.375-million Swiss francs ($50-million), purchased by US-based luxury jeweller Harry Winston, Christie's said on Tuesday. Harry Winston, owned by Swatch whose CEO is Nayla Hayek, daughter of the late Swatch founder... 

Talon unveils results of initial PEA for Tamarack

By: Creamer Media Reporter      13th November 2018 TSX-listed Talon Metals has announced the results of the initial preliminary economic assessment (PEA) that it used as a basis for negotiating the right to acquire up a 60% interest in the Minnesota-based Tamarack project from Rio Tinto. The initial PEA focuses on the Tamarack North project and... 

Mountain Province foregoes dividend in weaker market

By: Mariaan Webb     13th November 2018 The shareholders of Canadian diamond miner Mountain Province have missed out on a third-quarter dividend, owing to difficult trading conditions in the lower-end segment of the diamond market. Mountain Province recently paid shareholders a maiden dividend of 4c a share, but said late on Monday... 

Mountain Province foregoes dividend in weaker market

Lithium/cobalt juniors contemplate amalgamation

By: Mariaan Webb     13th November 2018 Canadian Securities Exchange-listed exploration juniors Tantalex Resources and International Cobalt Corp (ICC) are considering amalgamating their businesses, joining their operations in the Democratic Republic of Congo (DRC) and the Idaho Cobalt belt, in the US. Cobalt- and lithium-focused... 

Lonmin's biggest union wants Sibanye deal stopped over job cuts

By: Bloomberg     13th November 2018 The biggest labor union at Lonmin has asked antitrust authorities to stop Sibanye Gold’s purchase of the struggling platinum miner if the new company intends to press ahead with more than 10 000 job cuts. Lonmin has proposed 12 459 job cuts at mines that will run out of commercial deposits in the... 

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