R/€ = 14.08 Change: 0.01
R/$ = 13.12 Change: 0.03
Au 1284.55 $/oz Change: -2.09
Pt 972.50 $/oz Change: -3.50

North America News

Trump's infrastructure plan a boon for iron-ore, says Australia's Cormann

By: Bloomberg     23rd April 2017 US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program" and... 

Freeport collects export permit after Pence visit

By: Reuters     23rd April 2017 Freeport McMoRan collected a permit to resume copper exports from Indonesia on Friday after a hiatus of more than three months, hours after a state visit by US Vice President Mike Pence, who discussed the copper miner's dispute with Jakarta. Indonesia's Trade Ministry issued Freeport with a... 

Freeport collects export permit after Pence visit
US Vice President Mike Pence and Indonesian President Joko Widodo

Chamberlain chosen as LME chief with mandate to reform

By: Reuters     22nd April 2017 Matt Chamberlain was named London Metal Exchange (LME) chief executive on Friday, with a mandate from its owner the Hong Kong bourse to reform the world's largest and oldest metals market. Chamberlain, 35, had been acting CEO since January, when a combination of falling trading volumes and a... 

Argentina mulls $500m safety plan for Barrick's Veladero mine

By: Reuters     22nd April 2017 Barrick Gold and its new Chinese partner presented a $500-million plan on Friday to make safety and environmental improvements to the Veladero gold mine, in Argentina, after a third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul... 

Conflict-free cobalt to remain industry question, opportunity as DRC dominates supply

By: Henry Lazenby     22nd April 2017 Sourcing conflict-free cobalt for application in new technologies, such as lithium-ion batteries, will remain both a concern and an opportunity for manufacturers for years to come, as production is dominated by the politically unstable Democratic Republic of Congo (DRC). The Central African... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

By: Henry Lazenby     22nd April 2017 ‘Big money’ investors are increasingly looking to invest in the relatively small ‘new-age metals’ space, comprising metals such as lithium, graphite and cobalt, as strengthening fundamentals for these minerals and an unprecedented high-impact investment opportunity draw the potential for bonanza... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

Rockwell seeks move to TSX-V listing

By: Megan van Wyngaardt     21st April 2017 Embattled Rockwell Diamonds, which earlier this week filed for business rescue, on Friday said it would seek to move its listing from the TSX to the TSX-V, owing to its current market capitalisation. The company said its shares on the TSX and JSE would remain halted while there remains... 

BMI expects gradual price recovery for industrial metals

By: Megan van Wyngaardt     21st April 2017 Since bottoming out in early 2016 and staging an impressive, albeit largely speculative, rally over the past year and a half, industrial metals will experience a gradual price recovery over the coming years, as improving fundamentals support a stabilisation, rather than rebound, in prices,... 

Kal Tire buys Tyre Corporation’s South African operations

By: Megan van Wyngaardt     21st April 2017 North American company Kal Tire’s Mining Tire Group has acquired Tyre Corporation, expanding its footprint in South Africa, with 800 team members across 80 mine sites. “Tyre Corporation is a recognised market leader in underground mining tyre services and sales and we are excited to bring their... 

Tin industry to begin reporting on supply chain standards – ITRI

By: Reuters     21st April 2017 Major tin producers have agreed to begin reporting on compliance with a new code of conduct starting from third-quarter 2017, an industry body said, seeking to boost supply chain credentials ahead of new European rules on responsible sourcing of ore. Ten producers have signed up to the code,... 

Strongbow’s South Crofty to revive age-old tin mining tradition in Cornwall 

By: Henry Lazenby     21st April 2017 Bolstered by strengthening tin prices and improving fundamental support in the long term, Canadian mineral exploration firm Strongbow Exploration is set to revive a mining tradition in England’s county of Cornwall, that reaches back thousands of years to the early Bronze Age. The company’s... 

Strongbow’s South Crofty to revive age-old tin mining tradition in Cornwall
Strongbow president and CEO Richard Williams discusses the prospect of reviving a Bronze Age mining tradition in Cornwall. Video: Henry Lazenby; Editing: Lionel da Silva.

Pence discusses barriers to US companies with Indonesian President

By: Reuters     21st April 2017 US Vice President Mike Pence said on Friday he discussed with Indonesian President Joko Widodo barriers to US companies operating in Southeast Asia's largest economy. Pence arrived in Jakarta late on Wednesday to boost a strategic partnership between the world's second- and third-largest... 

Newmont reveals Ahafo underground mine, mill expansion plans to lift output 50%

By: Henry Lazenby     21st April 2017 US-based gold major Newmont Mining has announced investment plans to the value of $380-million for a new underground mine and a 50% plant expansion at the Ahafo mine, in Ghana. The Subika underground mine is projected to produce 1.8-million ounces of gold over an 11-year mine life, and features... 

Newmont reveals Ahafo underground mine, mill expansion plans to lift output 50%
Photo by Newmont Mining
The Ahafo mill expansion, in Ghana, will increase mill capacity to nearly ten-million tonnes

BC’s mineral exploration and mining industry launch ‘Vote Mining’ campaign

By: Creamer Media Reporter      21st April 2017 As the British Columbia provincial election nears on May 9, the Mining Association of British Columbia (MABC), the Association for Mineral Exploration (AME), and Mining Suppliers Association of British Columbia (MSABC) launched the ‘Vote Mining’ campaign on Thursday, to raise awareness about the... 

US weekly coal output rises

By: Henry Lazenby     21st April 2017 Analysis by the US Energy Information Administration (EIA) points to the country’s coal output rising 40% year-on-year to about 14.9-million short tons in the week ended April 15. The production estimate, issued on Thursday, was about 8.5% higher week-on-week. 

Despite adverse weather, Vale reports Q1 iron-ore record

By: Henry Lazenby     21st April 2017 The world’s largest iron-ore producer Vale has lifted production of the steel-making ingredient to a new record high in the first quarter ended March, touching 86.2-million tonnes despite inclement weather. The diversified miner boosted iron-ore output by 11.2% over the comparable quarter of... 

Despite adverse weather, Vale reports Q1 iron-ore record

OceanaGold says El Salvador freezing its assets lacks legal basis

By: Reuters     21st April 2017 Australian-Canadian miner OceanaGold said on Thursday that El Salvador has no legal basis for restricting its unit in the Central American country while it evaluates next steps in a dispute over extraction rights. El Salvador said this week that it had frozen OceanaGold's bank accounts and... 

Ex-Arconic CEO targeted Elliott founder's alleged World Cup antics

By: Reuters     21st April 2017 The letter by Arconic CEO Klaus Kleinfeld that led to his resignation earlier this week focused on the alleged behaviour of Paul Singer, founder of $33-billion hedge fund Elliott Management, at the 2006 World Cup in Berlin. Elliott, which had launched a proxy battle against the specialty metal... 

Banro completes recapitalisation programme

By: Megan van Wyngaardt     20th April 2017 NYSE MKT- and TSX-listed gold mining company Banro Corporation has completed its recapitalisation programme, resulting in the refinancing of its maturing $175-million senior secured 10% notes, due March 1, and a $22.5-million loan with $197.5-million of new secured notes. The company in January... 

Alphamin appoints Swanepoel, Baloyi to board; starts mine boxcut construction

By: Megan van Wyngaardt     20th April 2017 TSX-listed Alphamin Resources, which is developing the Bisie tin project, in the Democratic Republic of Congo, has appointed Bernard Swanepoel and Paul Baloyi to its board. Swanepoel currently also serves on the boards of miners Impala Platinum, Zimplats, eXtract Limited, African Rainbow Minerals... 

Rio Tinto iron-ore, coal production hit by heavy rains

By: Esmarie Swanepoel     20th April 2017 Diversified giant Rio Tinto has seen production decline across its asset portfolio, as the Western Australia and Queensland operations were impacted by wet weather conditions during the three months to March. Iron-ore production from the Pilbara operations declined by 10% compared with the... 

Rio Tinto iron-ore, coal production hit by heavy rains

Alcoa swaps New York for the city of steel as Harvey simplifies

By: Bloomberg     20th April 2017 Alcoa is giving up the glamour of New York City and going back to Pittsburgh, as new CEO Roy Harvey steps up efforts to streamline the aluminium maker. Changing headquarters and closing seven locations across the US, Europe and Asia is part of a push to lower costs after the producer of the... 

Turquoise Hill output falls on lower grades

By: Henry Lazenby     20th April 2017 Rio Tinto subsidiary Turquoise Hill Resources has reported a 23% drop in concentrate production at the Oyu Tolgoi copper/gold mine, in Mongolia, as it processed lower grades from phases 6 and early 4A of the openpit, as well as stockpile material, during the three months ended March. Concentrate... 

Quebec govt approves Canadian Malartic openpit expansion

By: Henry Lazenby     20th April 2017 The Quebec provincial government, under the leadership of Quebec Liberal Party premier Philippe Couillard, has approved the proposed $200-million expansion of the Canadian Malartic mine, owned and operated in a 50:50 joint venture by Agnico Eagle Mines and Yamana Gold. The expansion will see the... 

Ascendant lifts El Mochito mill throughput 17% since Dec buy; sees output rise 41% by Q4

By: Henry Lazenby     19th April 2017 Since acquiring the west-central Honduras-based El Mochito zinc/lead/silver mine about four months ago, Canadian miner Ascendant Resources has leveraged its management team’s experience to immediately turn the operation around, giving it a growth platform generating free cash flow. Once the crown... 

Ascendant lifts El Mochito mill throughput 17% since Dec buy; sees output rise 41% by Q4
Ascendant Resources is ramping up output at its flagship El Mochito mine, Honduras

China's Shandong Tyan says talks over on bid for Barrick's Kalgoorlie

By: Reuters     19th April 2017 Shanghai-listed Shandong Tyan Home said on Wednesday its negotiations with Barrick Gold to buy the Canadian operator's 50% stake in Kalgoorlie mine have ended without a deal, citing new capital and acquisition rules in China. Toronto-based Barrick had been reviewing the financial backing behind... 

China's Shandong Tyan says talks over on bid for Barrick's Kalgoorlie

Centerra receives all required Kumtor permits for 2017

By: Henry Lazenby     19th April 2017 TSX-listed Centerra Gold has received its 2017 maximum allowable discharge (MAD) permit that allows it to discharge treated effluent from the Kumtor mine tailings management facility, in the Kyrgyz Republic, starting in the spring. Centerra advised on Wednesday that Kumtor had all the necessary... 

Application filed for winding-up of Eastern Platinum

By: Martin Creamer     19th April 2017 British Virgin Islands company AlphaGlobal Capital has applied in the Gauteng Division of the High Court in Pretoria for the winding-up of Eastern Platinum (Eastplats), a platinum group metals (PGM) company listed in Toronto and Johannesburg, which is said in filed court papers to be unable to... 

El Salvador freezes OceanaGold bank accounts, assets over $8m payment

By: Reuters     19th April 2017 El Salvador froze bank accounts and assets belonging to OceanaGold after the mining company refused to pay the country $8-million as mandated by an international court, the Attorney General's Office said on Tuesday. Last year, El Salvador won an arbitration at the World Bank's International... 

Gold's top forecaster says prices may hit $1 350 by year-end

By: Bloomberg     19th April 2017 Gold will end the year higher, spurred by faster inflation and political tensions in Russia, Syria and North Korea, according to Intesa Sanpaolo, the best forecaster for the metal last quarter. Prices could take a V-shaped path this year, with a swoon coming mid-year as the Federal Reserve raises... 

PTM secures $20m bought deal financing

By: Henry Lazenby     19th April 2017 South Africa-focused miner Platinum Group Metals (PTM) has reached agreement with BMO Capital Markets to buy on a bought deal basis 15.39-million common shares of the company at $1.30 apiece for gross proceeds of about $20-million. Vancouver-based PTM said on Tuesday that it would use the net... 

Americas Silver gains momentum in transition to low-cost producer by 2018

By: Henry Lazenby     19th April 2017 Bolstered by improving silver and base metals prices, junior miner Americas Silver is in the home stretch to deliver on a four-year turnaround strategy at its two operating mining complexes in Sinaloa state, Mexico and Idaho, in the US. “We have a lot of intrinsic value that’s about to be... 

Americas Silver gains momentum in transition to low-cost producer by 2018

Freeport Indonesia has initial approval to resume copper exports – spokesperson

By: Reuters     18th April 2017 Freeport McMoRan has received preliminary approval to resume copper concentrate exports from its Indonesian operation and hopes to lodge an application for an export permit this week, a company spokesperson said. Indonesia halted Freeport's copper concentrate exports in January under new rules... 

Agrium completes commissioning of $720m Borger urea plant, Texas

By: Henry Lazenby     18th April 2017 TSX- and NYSE-listed Agrium has commissioned its new urea plant at the Borger Nitrogen Operations facility, in Texas, having completed its first run of urea production – widely used in fertilisers as a source of nitrogen. The Calgary-based company, which controls the largest retail distribution... 

Mining majors' shares pull back as iron, copper prices retreat

By: Henry Lazenby     18th April 2017 Major miners saw their respective stocks pull back on Tuesday on the back of weaker iron-ore and base metals prices, despite the latest Chinese economic data showing better-than-expected growth in the first quarter of 2017. Major miners traded in the red on Tuesday, including the world’s largest... 

Mining majors' shares pull back as iron, copper prices retreat

Concentrator closed after supervisor killed at Codelco’s Salvador mine, Chile

By: Henry Lazenby     18th April 2017 A supervisor has died at Codelco’s Salvador mine, in Chile, following an accident at the flotation plant, the company reported Tuesday. The Chilean State-owned miner said its Salvador division immediately shut down the concentrator plan and started “rigorous” procedures such as informing the... 

Asanko Gold on track to meet production guidance

By: Megan van Wyngaardt     18th April 2017 TSX- and NYSE-listed Asanko Gold produced 58 187 oz of gold in the first quarter of the year, selling around 57 812 oz at an average price of $1 199/oz. This resulted in first-quarter revenue of $69.3-million. 

Rockwell files for business rescue; will retain company operations in the interim

By: Mia Breytenbach     18th April 2017 Dual-listed alluvial diamond miner Rockwell Diamonds has filed for business rescue, which will ensure any liquidation order is automatically stayed. This follows after a judge in Kimberley on March 23 issued an interim liquidation order against subsidiaries Rockwell Resources RSA, HC van Wyk... 

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