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North America News

New shaft key to transforming Kirkland Lake into 1Moz/y producer

By: Mariaan Webb     Updated 5 minutes ago Gold miner Kirkland Lake has set its sights on producing one-million ounces a year in the next five to seven years, a target which is built on transforming the Fosterville and Macassa mines into 400 000 oz/y producers. At Fosterville, in Australia’s Victoria, Kirkland Lake is aiming to achieve... 

BHP second-quarter iron-ore output up 3%, maintains forecast

By: Reuters     Updated 7 hours ago Global miner BHP on Thursday reported a 3% rise in second-quarter iron-ore production year over year and said it expects to meet its full-year target as prices for the steelmaking ingredient outperform forecasts. BHP's iron-ore output climbed to 72-million tonnes for the three months ended... 

BHP second-quarter iron-ore output up 3%, maintains forecast

Argentina energy producer Genneia weighs IPO

By: Reuters     Updated 7 hours ago Argentine thermal and renewable energy producer Genneia will consider an initial public offering on the local or international stock market, the company said in a letter to the Buenos Aires stock exchange on Wednesday. The proposal will be discussed at a shareholders meeting on February 7, said... 

Chile's Corfo, SQM strike deal in lithium dispute

By: Reuters     Updated 7 hours ago Chilean development agency Corfo said on Wednesday that it had struck a deal with lithium company SQM, ending a long dispute over royalties in Chile's Salar de Atacama, home to one of the world's richest lithium deposits. The deal frees the miner to apply for an increase in its production quota... 

Output at Chile's Escondida copper mine falls 7.8% in 2017

By: Reuters     Updated 7 hours ago Output at BHP Billiton's Escondida mine, in Chile, the largest copper mine in the world, fell 7.8% in 2017 compared to the prior year due to a prolonged strike, the company said in a statement on Wednesday. The decline to 903 000 t came despite the start of operations at a new wing. 

Canadian miners welcome new federal business ethics ombudsman

By: Henry Lazenby     18th January 2018 Canada’s Liberal government has introduced a new federally mandated Ombudsman for Responsible Enterprise (CORE) to investigate human rights complaints about the overseas operations of Canadian companies. The watchdog will investigate complaints, and if warranted, make recommendations to remedy... 

Canadian miners welcome new federal business ethics ombudsman

WoodMac urges automakers to ‘get out their chequebooks’, secure energy metal supplies

By: Henry Lazenby     17th January 2018 Auto manufacturers are ramping up strategies to cash in on the accelerating worldwide acceptance and demand for electric vehicles (EVs), prompting advice from research and consultancy group Wood Mackenzie for automakers to ‘get out their chequebooks’ and take stakes in mines or new mine projects... 

WoodMac urges automakers to ‘get out their chequebooks’, secure energy metal supplies

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

Acacia completes sale of royalty over Burkina Faso mine

By: Megan van Wyngaardt     17th January 2018 Embattled gold miner Acacia Mining has completed the sale of an existing 2% net smelter royalty over the Houndé mine, in Burkina Faso, for $45-million. The LSE-listed company in December said it was selling the royalty to Canadian miner Sandstorm Gold after its three producing gold mines in... 

Acacia completes sale of royalty over Burkina Faso mine
Photo by Sandstorm Gold
Sandstorm Gold CEO Nolan Watson

Marathon mineral rights tangle goes to Constitutional Court

By: Martin Creamer     17th January 2018 The Constitutional Court of South Africa is being asked to pronounce on a marathon mineral rights entanglement that lower courts have failed to resolve. What the High Court proclaimed, the Supreme Court of Appeal overturned, and now Chinese subsidiary company Aquila Steel has applied to the... 

Marathon mineral rights tangle goes to Constitutional Court
Mineral rights case before Constitutional Court

Tribunal approves sale of Maseve mine to Royal Bafokeng

By: Anine Kilian     17th January 2018 The South African Competition Tribunal has approved the sale of TSX-listed Platinum Group Metals’ (PTM’s) Maseve Investment to Royal Bafokeng Platinum (RBPlat). The first step of the $74-million deal is under way and will see RBPlat pay an initial $58-million in cash to acquire the concentrator... 

Centerra to earn into Erris Resources’ Sweden project

By: Mariaan Webb     17th January 2018 Canadian mid-tier mining company Centerra Gold has elected to earn into zinc and gold junior Erris Resources’ Brännberg gold project, in northern Sweden, with a $1-million investment. Erris, which was admitted to trading on the Aim at the end of last year, said on Wednesday that Centerra would... 

Centerra to earn into Erris Resources’ Sweden project

Global Geoscience appoints Amec for US lithium project study

By: Creamer Media Reporter      17th January 2018 Australia-based lithium/boron mine developer Global Geoscience has selected Amec Foster Wheeler as the engineering and design firm to complete the prefeasibility study (PFS) for the Rhyolite Ridge project in the US. Announcing the appointment on Wednesday, Global Geoscience MD Bernard Rowe said... 

Palladium risks tripping up as prices stampede higher

By: Reuters     17th January 2018 Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success. The prospect of sharply higher prices could well prompt substitution of the metal for cheaper... 

Gold losses in years past keep producers from buying more mines

By: Bloomberg     17th January 2018 Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major gold producers have cut way back on mining deals – even as metal prices posted their biggest rally since 2010. The value of the industry’s transactions, from acquisitions to... 

GoldMining lifts global resource estimate with a million indicated ounces from Crucero

By: Henry Lazenby     17th January 2018 Americas-focused project developer GoldMining Inc has reported a new Canadian National Instrument 43-101-compliant resource estimate for its newly acquired Crucero project, in south-eastern Peru, adding about one-million ounces of gold in the indicated category to its global resource profile. The... 

Two top gold miners hit 2017 gold guidance

By: Henry Lazenby     17th January 2018 Two of the world’s largest gold producers by volume have realised their production goals for 2017. Toronto-based Barrick Gold, currently still the world’s largest gold producer by output, on Tuesday announced that preliminary full-year gold output of 5.32-million ounces for 2017 was in line with... 

Two top gold miners hit 2017 gold guidance

Cloud Peak to export US coal to new power plants in Japan

By: Reuters     17th January 2018 US miner Cloud Peak Energy said on Tuesday it will export coal from a Montana mine for 30 to 40 months to two new power plants in Japan with shipments that could start late next year. The coal from Montana's Spring Creek Mine will be carried by rail to Vancouver and then sent by ship for... 

South32 Q2 coal output falls as mine outage weighs

By: Reuters     17th January 2018 Mining group South32's second-quarter metallurgical coal output dropped 43% due to the suspension of operations at its Appin mine, in Australia, over safety concerns, the company said on Wednesday. Production of coal used in steelmaking fell to 788 000 t in the December quarter from 1.39-million... 

NextSource soars on Japanese approval of registered SuperFlake product trademark

By: Henry Lazenby     17th January 2018 The TSX-listed equity of one of the graphite industry’s best kept secrets, NextSource Materials, has recorded significant gains on Tuesday following a company announcement that Japan has approved the company’s registration of ‘SuperFlake’ graphite as a trademark in the country. The registration... 

NextSource soars on Japanese approval of registered SuperFlake product trademark
Photo by NextSource Materials
A representation of how NextSource Materials' Madagascar-based Molo modular plant will look like

Nutrien sells 14% stake in Israel Chemicals for $700m

By: Henry Lazenby     16th January 2018 Crop inputs and services provider Nutrien has agreed to sell its nearly 14% stake in Israel Chemicals through a private secondary offering of all of the 176.09-million shares it owns. NYSE- and TSX-listed Nutrien expects to receive about $700-million in net proceeds from the transaction, which is... 

Miners bolster senior ranks in preparation for fast-paced 2018

By: Henry Lazenby     16th January 2018 Several Canadian listed miners reported senior management changes on Tuesday. Marine mining hopeful Nautilus Minerals announced Tuesday that Tariq Al Barwani has been appointed to the role of nonexecutive chairperson. Al Barwani joined the board in May 2016. He is a director and shareholder of MB... 

Top 10 zinc miner Trevali lifts 2018 guidance 140% as zinc powers to 10yr high

By: Henry Lazenby     16th January 2018 Canadian zinc miner Trevali Mining expects to produce 140% more zinc this year, following a transformational 2017 that saw it produce a record 177.4-million payable pounds of zinc. The 2017 output was boosted by the December quarter production from the newly acquired Perkoa mine, in Burkina Faso,... 

Top 10 zinc miner Trevali lifts 2018 guidance 140% as zinc powers to 10yr high

As stockpiles fall, which metals are really in tight supply?

By: Reuters     16th January 2018 Stocks of industrial metals in London Metal Exchange (LME) warehouses fell more than 40 percent last year and further declines are expected in 2018, which should in theory signal tighter supplies and fuel a blistering price rally. But rising inventories of metals at smaller rival exchanges... 

World Gold Council spots trends that'll be gold’s 2018 friends

By: Martin Creamer     16th January 2018 Synchronised global economic growth, shrinking central bank balance sheets, rising interest rates, insubstantial asset prices and market transparency are the trends that will be gold’s best friends in 2018, the World Gold Council said on Tuesday. These trends, the council said in delivering its... 

World Gold Council spots trends that'll be gold’s 2018 friends
Photo by Duane Daws
Gold bars produced at Rand Refinery, Germiston.

De Beers turns to blockchain to track diamond origins and purity

By: Reuters     16th January 2018 Anglo American's diamond unit De Beers aims to launch the first industry-wide blockchain this year to track gems each time they change hands starting from the moment they are dug from the ground, its chief executive said on Tuesday. De Beers, the world's biggest diamond producer by the value of... 

De Beers turns to blockchain to track diamond origins and purity
De Beers CEO Bruce Cleaver

Copper falls most in 6 weeks as metal rally starts to give

By: Bloomberg     16th January 2018 After a non-stop rally, metals prices are starting to pull back. Copper, aluminium and nickel slid more than 2% on Tuesday as investors focused on the rebounding dollar and evidence of ample supply in the physical market. Precious metals also retreated, with silver falling as much as 3.2%. 

Goldplat extends option period for Ashanti to acquire stake in Anumso project

By: Anine Kilian     16th January 2018 Aim-listed Goldplat has agreed to extend the option period within which TSX-V-listed Ashanti Gold can acquire 75% of Goldplat’s interest in the Ghana-based Anumso gold project. Ashanti has the right to earn up to 75% of Goldplat's interest in Anumso by spending $3-million on exploration work.... 

Rio Tinto maintains fourth-quarter guidance across the board

By: Anine Kilian     16th January 2018 Global miner Rio Tinto reported on Tuesday that it had met its iron-ore shipment guidance for the three months ended December 31, 2017, noting a 1% rise in shipments for the year to 330.1-million tonnes. "The business performed well in the fourth quarter and we finished the year in line with... 

Rio Tinto maintains fourth-quarter guidance across the board

Alacer sees 2018 as ‘pivotal’ year

By: Natasha Odendaal     16th January 2018 TSX- and ASX-listed Alacer Gold has produced 168 163 oz of gold at all-in sustaining costs (AISC) of $685/oz, meeting its original production targets and beating its AISC cost guidance for the year. Going forward, the gold mining company expects 2018 to be a pivotal year, as the Çöpler sulphide... 

Thor welcomes new investment into US Lithium

By: Natasha Odendaal     16th January 2018 Dual-listed Thor Mining’s 25% stake in soon-to-be-ASX-listed US Lithium has been diluted to 20.83% on the back of a capital raise at a substantial premium. Thor in June last year acquired 2.5-million shares in the company, which held lithium exploration interests in Arizona and New Mexico, in the... 

Brazilian miner Vale ordered to repair environmental damage

By: Reuters     16th January 2018 A Brazilian court on Monday ordered the world's largest iron-ore miner Vale to repair environmental damages its operations caused in land belonging to a community of descendants of escaped slaves in northern Brazil. Federal prosecutors announced the ruling in a statement that said the electricity... 

DNI inks flake graphite offtake deal with Korea Graphite

By: Henry Lazenby     16th January 2018 Madagascar-focused graphite project developer DNI Metals has signed a binding supply agreement with ASX-listed Peninsula Mines’ subsidiary Korea Graphite to supply up to 24 000 t/y of flake graphite, the company announced on Monday. The deal is subject to Korea Graphite finalising offtake... 

Rockwell subsidiaries sale still on the table

By: Henry Lazenby     16th January 2018 A two-pronged purchase offer by Ascot Diamonds to acquire the three bankrupt South African subsidiaries, and later, a Cayman-based entity of Canadian miner Rockwell Diamonds is still a viable solution to achieve a sale transaction and therefore, a higher recovery value for creditors, Rockwell... 

Rockwell subsidiaries sale still on the table

Orefinders PEA reports positive economics for Ontario’s Mirado gold mine

By: Henry Lazenby     15th January 2018 Canadian Stock Exchange-listed junior project developer Orefinders Resources has released strong economic results contained in a preliminary economic assessment (PEA) for the South Zone openpit, which is part of the Mirado gold mine, located to the southeast of Kirkland Lake, Ontario. Nestled... 

Tahoe fires 25% of Escobal workforce as Guatemala court process dawdles

By: Henry Lazenby     15th January 2018 TSX- and NYSE-listed Tahoe Resources, whose flagship Escobal mine, in Guatemala, continues to languish in care and maintenance following a court-ordered suspension of its mining permit in July 2017, has moved to reduce the mine’s workforce by 25%, the miner announced on Monday. The... 

RNC in talks with financiers, market participants for Dumond construction decision by 2019

By: Henry Lazenby     15th January 2018 Diversified Canadian miner RNC Minerals is engaging a number of potential strategic investors, offtake partners and financiers who could provide the $1.3-billion capital financing required to start construction of the shovel-ready Dumont nickel/cobalt project, in the Abitibi region of Quebec. The... 

RNC in talks with financiers, market participants for Dumond construction decision by 2019
Photo by RNC Minerals
Dumont nickel buttons

Harvest to expand Arapua fertiliser capacity

By: Henry Lazenby     15th January 2018 Brazil-focused fertiliser producer Harvest Minerals is planning a significant expansion at its Arapua fertiliser project, with the addition of four knife mills and associated infrastructure that will push production capacity above the 320 000 t/y level. The LSE Aim-listed company announced on... 

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