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North America News

Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     Updated 7 hours ago Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Corsa sees sales volume growth for sixth consecutive quarter

By: Anine Kilian     Updated 7 hours ago Even though the global supply chain for metallurgical coal remains challenged and prone to disruption, strong steel pricing and production levels have helped to sustain a high level of demand for raw materials, which include metallurgical coal, according to Corsa Coal CEO George Dethlefsen. In a... 

Galantas highlights need to secure sufficient funding

By: Megan van Wyngaardt     17th November 2017 Following disappointing results for the third quarter ended September 30, dual-listed miner Galantas Gold Corporation on Friday said its future viability depended on the consolidated results of its wholly-owned subsidiary Cavanacaw Corporation, which holds 100% in Galantas’ Omagh Minerals and... 

Avesoro starts drilling programme at New Liberty

By: Megan van Wyngaardt     17th November 2017 Four diamond drill rigs have been mobilised to dual-listed Avesoro Resources’ wholly owned New Liberty mine, in Liberia, where a 14 000 m diamond core drilling campaign has started. The campaign is targeting an area of the New Liberty resource model containing an inferred mineral resource of some... 

Fire hits Freeport Indonesia port facility in Papua

By: Reuters     17th November 2017 A fire broke out at the main port used by copper miner Freeport-McMoRan Inc in Papua, Indonesia, on Thursday night, the company said. The fire occurred at the Amamapare port in a plant where copper concentrate from the giant Grasberg copper mine is processed before loading onto vessels for... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for change

Alamos shareholders support Richmont acquisition

By: Henry Lazenby     17th November 2017 The majority of Alamos Gold shareholders have voted in favour of its planned $747-million acquisition of boutique gold producer Richmont Mines. Richmont shareholders also on Thursday approved the transaction. 

Teck declares supplemental dividend of C$0.40 a share

By: Henry Lazenby     17th November 2017 Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of... 

Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions 

By: Henry Lazenby     17th November 2017 TSX-V-listed lithium explorer Argentina Lithium on Thursday announced that it has appointed a new project manager to oversee a 10 000 m exploration drilling campaign at its two active projects in Argentina – located within the prospective Arizaro and Incahuasi salars. The Vancouver-headquartered... 

Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions
Argentina Lithium president and CEO Nikolaos Cacos discusses the company’s new 10 000 m exploration drilling campaign spread over its two main lithium assets, in Argentina. Video: Henry Lazenby; Editing: Lionel da Silva.

BHP eyes two-year exit from shale; also selling nickel

By: Reuters     16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

BHP eyes two-year exit from shale; also selling nickel
BHP CEO Andrew Mackenzie

'Raj Pink' diamond fails to sell at Geneva sale – Sotheby's

By: Reuters     16th November 2017 "The Raj Pink", the largest known diamond graded "fancy intense pink" for its rare colour, was among several major jewels stranded on the auction block on Wednesday at Sotheby's sale in Geneva. The cushion-shaped stone, weighing 37.30 ct and mounted on a ring, was billed as the star lot at... 

Investor TCI demands UK's LSE answer more questions in board tussle

By: Reuters     16th November 2017 Activist investor TCI has demanded the London Stock Exchange answer a series of questions ahead of a shareholder meeting called by the fund to oust the chairperson over his handling of the planned replacement of its chief executive. Among the questions TCI wants answered by the LSE board before... 

Forecast iron-ore price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     15th November 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” said the firm on Wednesday, adding that,... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

By: Mariaan Webb     15th November 2017 German potash and salt producer K+S on Wednesday reaffirmed its earnings forecast for the full year, as it posted higher third-quarter revenue and earnings. The Kassel-headquartered company, which has production sites in Europe, North America and South America, increased its revenue by 6%... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

Better regulations needed to prevent tailings dam failures – UNEP

By: Megan van Wyngaardt     15th November 2017 In the last decade, there have been over 40 mining waste failures, killing some 341 people and damaging hundreds of kilometers of waterways, affecting drinking water sources and the livelihood of communities, a new report entitled ‘Mine Tailings Storage: Safety Is No Accident’, reveals. The... 

Better regulations needed to prevent tailings dam failures – UNEP

Offtake partners secured for US gigafactory - Magnis

By: Esmarie Swanepoel     15th November 2017 ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York. Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. 

Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty

By: Reuters     15th November 2017 Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday. 

Piedmont gains more ground in US

By: Esmarie Swanepoel     15th November 2017 Emerging lithium development company Piedmont Lithium has increased its foothold in North Carolina, acquiring a further 188 acres from local landowners. The company currently holds some 903 acres within the Carolina tin spodumene belt, with the ASX-listed company aiming to consolidate landholding... 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

Glencore is said close to creating mining royalty company
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Trevali stock takes a dip on surprise Q3 loss

By: Henry Lazenby     15th November 2017 Zinc producer Trevali Mining has had a tough day on the TSX, seeing its stock dive as deep as 7.3% during intraday trading after the company reported a net loss of $7.8-million, or $0.01 a share for the three months ended September. The Vancouver-based zinc producer attributed the net loss mainly... 

Osisko Mining hits 301 g/t gold over 6.2 m at Lynx

By: Henry Lazenby     15th November 2017 Gold explorer Osisko Mining has reported more high-grade intercepts at its show-stopping Windfall Lake property, in Urban Township, Quebec, this time hitting 301 g/t gold over 6.2 m at the Lynx zone. The intercept was made in drill hole OSK-W-17-909, which forms part of an ongoing 800 000 m drill... 

Paulson holds stake unchanged in SPDR Gold Trust Q3 – filing

By: Reuters     15th November 2017 Paulson & Co held its stake unchanged in the world's biggest gold exchange-traded fund in the third quarter, a 13F filing with the US Securities and Exchange Commission showed on Tuesday. New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in SPDR Gold Trust at... 

Gowest aims to unlock refractory gold potential of legendary Timmins Camp

By: Henry Lazenby     14th November 2017 Little-known exploration and development company Gowest Gold is preparing to become the newest gold producer in the legendary Timmins Gold Camp, which, since its discovery in the early 1900s, has produced almost half of all the gold mined in Canada. The TSX-V-listed company is moving its North... 

Gowest aims to unlock refractory gold potential of legendary Timmins Camp
Photo by Gowest Gold
Construction underway at Gowest Gold's North Timmins gold project, in Ontario

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m
Photo by Anfield Gold
Drill core from Anfield Gold's Coringa project, in Brazil, which is being acquired by Serabi Gold for $22-million

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

Atlatsa incurs $292m loss
Photo by Duane Daws
Atlatsa chief commercial officer Joel Kesler

Sibanye declares US resource under Proudly South African code

By: Martin Creamer     14th November 2017 Precious-metals mining company Sibanye-Stillwater has completed a Competent Person’s Report on its platinum group metals (PGM) mineral assets, in Montana, in the United States. The report has been compiled under the South African Code for the Reporting of Exploration Results, Mineral Resources... 

Sibanye declares US resource under Proudly South African code
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

De Beers reports uptick in demand ahead of Christmas

By: Creamer Media Reporter      14th November 2017 An uptick in demand for diamonds ahead of Christmas has contributed to De Beers reporting sales of $455-million for its ninth sales cycle of the year, compared with sales of $376-million in the eighth sales cycle. This was, however, lower than the sales of $476-million achieved in the ninth sales... 

Tharisa expects higher earnings

By: Martin Creamer     14th November 2017 Platinum group metals (PGM) and chrome coproducer Tharisa on Tuesday informed the market of higher upcoming 2017 financial year earnings. The company, headed by CEO Phoevos Pouroulis, foresees substantially higher earnings per share and headline earnings per share in US cents of 21c to 23c,... 

Tharisa expects higher earnings
Tharisa CEO Phoevos Pouroulis

Ghana opens talks with Exxon on deepwater drilling contract

By: Reuters     14th November 2017 Ghana has opened talks with Exxon Mobil Corp to allow the US oil firm to undertake deepwater exploration off its coast, a deputy energy minister said on Monday. "The negotiations are ongoing according to our current laws ... so far so good," Mohamed Amin Adam told Reuters on the sidelines of an... 

Endeavour expands mineralised zones at key Burkina Faso mines

By: Henry Lazenby     14th November 2017 West Africa-focused gold producer Endeavour Mining has expanded the mineralised trends at both its Houndé and Karma gold mines, in Burkina Faso, the company announced on Monday. At its flagship Houndé operation, which declared commercial production ahead of schedule and below budget on November... 

Global gold flows stable in Oct, gold ETFs add 3.3 t

By: Reuters     14th November 2017 Gold-backed exchange traded funds (ETFs) have added 3.3 t of gold to their global holdings during October, as outflows from North America mostly offset inflows in Europe, the latest data from the World Gold Council (WGC) shows. Global ETF gold holdings now total 2 347.6 t. 

Global gold flows stable in Oct, gold ETFs add 3.3 t

Leagold reports maiden profit

By: Henry Lazenby     14th November 2017 Gold producer Leagold Mining has reported its first ever net profit since it took control of the Los Filos mine, in Mexico, in April. The Vancouver-headquartered company reported net earnings of $317 000, or nil per share, compared with the $7.63-million net loss, $0.06 a share, it suffered in... 

Mountain Province reports Q3 net income of C$27.7m

By: Henry Lazenby     14th November 2017 Mountain Province Diamonds has reported a third-quarter net profit of C$27.7-million, or C$0.17 a share, representing a profit during the first full operating quarter of its 49%-owned Gahcho Kué (GK) mine, in Canada’s Northwest Territories, since declaring commercial production on March 1.... 

Argentina seeks to overtake Chile in South America lithium race

By: Reuters     14th November 2017 The giant pools of turquoise water in the mountainous deserts of northwest Argentina shimmer in the sunlight like oases and for lithium miners like Australia's Orocobre, that is exactly what they are. The mid-cap miner is one of several lithium producers stepping up investment in Argentina amid... 

Argentina seeks to overtake Chile in South America lithium race
Photo by Bloomberg
South America's salt flats provide ideal conditions to produce lithium products

Banro committee seeks debt restructure

By: Anine Kilian     13th November 2017 A special committee comprising independent directors of NYSE-and-TSX-listed Banro Corporation are in discussion with the company’s major stakeholders regarding the possible restructuring of the company’s non-Democratic Republic of the Congo (DRC) debt obligations, as well as the provision of... 

Avesoro has positive outlook for year-end

By: Megan van Wyngaardt     13th November 2017 TSX- and Aim-listed West African gold producer Avesoro Resources, which operates the New Liberty mine, in Liberia, produced 19 885 oz of gold in the third quarter ended September 30. This was 26% higher quarter-on-quarter and 38% higher year-on-year, with the company on track to reach its guided... 

Avesoro has positive outlook for year-end

Caledonia’s Q3 production rises 7% y/y

By: Anine Kilian     13th November 2017 NYSE-, Aim- and TSX-listed Caledonia mining produced 14 396 oz of gold in the third quarter ended September 30, a 7% year-on-year increase. The higher production was primarily the result of higher grades and contributed to higher revenues and a substantial increase in profit.  

Rio completes off-market buy-back

By: Esmarie Swanepoel     13th November 2017 Diversified giant Rio Tinto has completed a A$750-million off-market buy-back, with all shares purchased to be cancelled. The miner in September initiated the buy-back, which was increased from an indicative A$700-million, as part of its $2.5-billion share buy-back programme, returning the... 

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