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North America News

‘Peak’ cobalt is not on the horizon – S&P’s Global Market Intelligence

By: Marleny Arnoldi     Updated 5 hours ago Peak cobalt is not on the horizon, says Standard & Poor’s (S&P’s) Global Market Intelligence metals and mining research analyst Michael Giblin.  

Further extension to Centerra’s Kyrgyz strategic accord

By: Creamer Media Reporter      Updated 5 hours ago Canadian miner Centerra Gold and the government of Kyrgyzstan have further extended the first longstop date under the strategic agreement for environmental protection and investment promotion that they entered into last year. The Toronto-based miner has pushed out the first longstop date – the... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     Updated 5 hours ago In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12 J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12j MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

McEwen’s operations on track to meet full-year guidance

By: Marleny Arnoldi     Updated 6 hours ago Dual-listed precious metals producer McEwen Mining produced 36 959 oz of gold and 772 432 oz of silver, or 47 258 gold-equivalent ounces (GEOs), for the second quarter of this year.  

McEwen’s operations on track to meet full-year guidance

Fura to expand its Mozambique ruby holdings; considering an LSE listing

By: Anine Kilian     Updated 6 hours ago TSX-V-listed gemstone producer Fura Gems has entered into an agreement to acquire an interest in nine ruby assets in Mozambique from ASX-listed Mustang Resources and Regius Resources Group for A$15-million, or about C$14.6-million, in cash and shares. Upon closing of the acquisition, Fura, which... 

Atalaya produces record quarterly copper production in Spain

By: Marleny Arnoldi     16th July 2018 Aim- and TSX-listed copper miner Atalaya Mining produced 10 446 t copper at its Proyecto Riotinto mine, in Spain, in the second quarter of the year, beating its first quarter production record.  

Noront drops Sudbury and Thunder Bay as site for ferrochrome plant

By: Mariaan Webb     16th July 2018 TSX-V-listed Noront Resources has moved to the final phase of the site selection process for its proposed ferrochrome production facility, with only two cities – Timmins and Sault Ste Marie – still in the running to host the 100 MW to 130 MW scalable furnace. Noront has dropped Thunder Bay and... 

Noront drops Sudbury and Thunder Bay as site for ferrochrome plant

How mining tycoons are trying to foil a big UK bribery probe

By: Bloomberg     16th July 2018 It’s a faint echo of the defense being floated by targets of the Mueller probe in the US – an unaccountable circle of bureaucrats manipulating the system to their own ends. But in London, it’s the last ditch effort by a trio of Kazakh oligarchs to derail the UK’s biggest bribery investigation. 

How mining tycoons are trying to foil a big UK bribery probe
Alexander Machkevitch

Total’s acquisition of Engie LNG portfolio closes

By: Marleny Arnoldi     13th July 2018 Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.  

MGX to earn into Belmont’s Nevada lithium property

By: Mariaan Webb     13th July 2018 Diversified miner MGX Minerals has entered into an option agreement to earn into the Kibby Basin lithium brine project, in the western portion of the Great basin in Nevada, the Canadian firm announced on Friday. MGX will acquire an initial 25% interest in Kibby Basin from TSX-V-listed Belmont... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

By: Reuters     13th July 2018 Copper headed for a fifth weekly loss on Friday as trade tensions between the United States and China rumbled on, while aluminium hit a three-month low ahead of a summit between US President Donald Trump and Russian President Vladimir Putin. Trump and Putin are due to meet in Helsinki on Monday... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

SSR Mining reports mixed bag in June quarter

By: Esmarie Swanepoel     13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... 

Hecla mines outperform; Klondex deal to close this month

By: Mariaan Webb     13th July 2018 US-based precious metals miner Hecla has reported a 7% decrease in second-quarter silver production, but it still managed to exceed production expectations, boosting the company’s cash position to its second-highest in six years. Silver production decreased from 2.81-million ounces in the June... 

Hecla mines outperform; Klondex deal to close this month

Perseus sets conservative target for 2019

By: Esmarie Swanepoel     13th July 2018 Dual listed Perseus Mining has set a production target of between 130 000 oz and 150 000 oz for the next six months to December, following a strong June quarter and full year. The miner said on Friday that based on actual operation performances at both its Edikan and Sissingue mines, in Ghana... 

Copper Mountain production up

By: Creamer Media Reporter      13th July 2018 The Copper Mountain mine, in British Columbia, has delivered a solid performance in the second quarter, with production increasing by 13% year-on-year, the operation’s eponymous owner reported on Thursday. The mine produced 23.1-million pounds of copper equivalent, including 20-million pounds of... 

Coal to remain a significant energy source for decades – WCA

By: Nadine James     13th July 2018 Coal will remain a vital growth enabler and source of energy for decades to come, says World Coal Association CEO Benjamin Sporton. He notes that demand for coal will remain stable to positive, as a result of increased industrialisation and electrification, especially in Africa and South-East Asia. 

Coal to remain a significant energy source for decades – WCA
Photo by Creamer Media
COAL IS CONSTANT Coal will actually be the single largest energy source in 2040

Record gold production at Jaguar’s Pilar mine during Q2

By: Marleny Arnoldi     12th July 2018 TSX-listed Jaguar Mining produced 18 819 oz of gold during the quarter ended June 30, including record output from the Pilar gold mine, in Brazil.  

Anaconda Mining withdraws Maritime Resources buyout offer

By: Marleny Arnoldi     12th July 2018 TSX-listed emerging miner Anaconda Mining on Thursday announced the withdrawal of its previously announced buyout bid to acquire all shares of Maritime Resources. “With the recently completed private placement, Maritime shareholders made it clear that they stood with management and wanted to... 

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine

By: Reuters     12th July 2018 Indonesia on Thursday struck an agreement with Freeport-McMoRan and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85-billion. The heads of agreement establishes a structure for Indonesia, through its state-owned mining... 

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine
The Grasberg mine in Indonesia.

Nautilus secures additional loan from Deep Sea Mining

By: Creamer Media Reporter      12th July 2018 TSX-listed Nautilus Minerals on Thursday announced that it had received a loan from Deep Sea Mining Finance for $650 000, under a previously announced credit facility of up to $34-million between the company, two of its subsidiaries and the lender. Pursuant to the agreement, Nautilus has issued... 

Bluejay's Dundas may be attractive to Rio Tinto – analysts

By: Mariaan Webb     12th July 2018 The closure of Rio Tinto's South African subsidiary Richards Bay Minerals (RBM) as a result of violent protests this week, may play into the hand of London- and Frankfurt-listed Bluejay Mining, which is developing the Dundas ilmenite project, in Greenland. The project is said to be the... 

Bluejay's Dundas may be attractive to Rio Tinto – analysts
Bluejay Mining is developing the high-grade Dundas ilmenite project, in Greenland.

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

World's oil cushion could be stretched to the limit, IEA warns

Superior Lake fast-tracks mine restart

By: Esmarie Swanepoel     12th July 2018 Junior base metals developer Superior Lake Resources has announced plans to fast-track the restart of its Superior Lake metals project, in Canada. The ASX-listed company said that following the completion of a maiden Joint Ore Reserves Committee compliant resource of 2.1-million tonnes, grading... 

Caledonia reports fatality, flat Q2 production at Zim mine

By: Creamer Media Reporter      12th July 2018 Caledonia Mining Corporation’s 49%-owned Blanket mine, in Zimbabwe, produced 12 657 oz of gold in the quarter ended June 30. Output was 2% lower quarter-on-quarter, but 1% higher year-on-year. 

Hurting for buyers, US coal miners are learning to love India

By: Bloomberg     12th July 2018 The big bright spot for US coal miners is located halfway around the world. India almost tripled its imports of the rock from America in the first quarter from a year earlier, helping fuel its fast-growing economy and making it the largest foreign buyer of US coal, according to the US Energy... 

Hurting for buyers, US coal miners are learning to love India

Indonesia reaches preliminary deal with Freeport on Grasberg

By: Bloomberg     12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... 

Indonesia reaches preliminary deal with Freeport on Grasberg

WFDB appoints World Diamond Mark chairperson

By: Creamer Media Reporter      12th July 2018 Former Dubai Diamond Exchange president Peter Meeus has been appointed chairperson of the World Federation of Diamond Bourses’ (WFDB’s) World Diamond Mark (WDM) programme. “I am delighted that Peter has agreed to take over as chairperson of the WDM, which was created by the WFDB in 2012. Peter... 

Barrick trims copper guidance, gold forecast intact

By: Mariaan Webb     12th July 2018 Toronto, Canada-headquartered Barrick Gold has maintained its gold production guidance for 2018 at between 4.5-million and 5-million ounces, but has slashed 40-million pounds off its copper production guidance, owing to operational challenges at its biggest copper mine – Lumwana, in Zambia. The... 

Barrick trims copper guidance, gold forecast intact
The Lumwana copper mine in Zambia.

Largo delivers solid Q2 production results

By: Creamer Media Reporter      11th July 2018 The Maracás Menchen mine has delivered solid production results for the second quarter, despite a nationwide truckers strike in Brazil that impacted on operations during May. The mine’s June quarter production increased to 2 458 t of vanadium pentoxide (V2O5), a 13% improvement on the first... 

Copper slides to 1-year low, zinc sinks in broad selloff

By: Reuters     11th July 2018 Copper prices slumped to their weakest level in a year and zinc fell to 13-month lows amid a broad selloff on Wednesday after the Trump administration said it would slap 10 percent tariffs on an extra $200-billion worth of Chinese imports. US President Donald Trump’s latest tariff threat... 

Trump started the metals rally, now he's the reason it's ending

By: Bloomberg     11th July 2018 The US election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump’s trade war against China threatens to derail economic growth. Copper sunk to an almost one-year low and has fallen 16%... 

Trump started the metals rally, now he's the reason it's ending

World Diamond Congress to be held in Mumbai in October

By: Schalk Burger     11th July 2018 The World Federation of Diamond Bourses (WFDB) has announced that the 2018 World Diamond Congress, the biannual meeting of the WFDB and the International Diamond Manufacturers Association (IDMA), will take place in Mumbai, India, from October 23 to 25. “This is a very important meeting where we... 

SRK, industry loses leading light

By: Nadine James     11th July 2018 One of SRK Consulting’s three founding members, Dr Oskar Steffen, passed away on Wednesday, June 27, in Johannesburg. He was 77 years old. Steffen was born in Swaziland, where he completed his schooling. He left for Johannesburg in 1956 to study civil engineering at the University of the... 

SRK, industry loses leading light
Photo by Creamer Media
Dr Oskar Steffen

Glencore sets up committee to respond to US subpoena

By: Mariaan Webb     11th July 2018 Diversified miner and commodity trader Glencore has established a board committee to oversee the London- and Johannesburg-listed company’s response to US authorities’ demand for documents relating to possible corruption and money laundering. The committee comprises chairperson Tony Hayward,... 

Glencore sets up committee to respond to US subpoena
Glencore chairperson Tony Hayward

Canadian firm joins Impact on Broken Hill hunt

By: Esmarie Swanepoel     11th July 2018 ASX-listed junior Impact Minerals has signed a letter of intent with TSX-V Listed BlueBird Battery Metals Incorporated over its Broken Hill silver/lead/zinc project, in New South Wales. Under the terms of the farm-in, BlueBird could earn a 75% interest in the five exploration licenses that... 

WPIC, Hengfu launch first platinum bar products in China

By: Creamer Media Reporter      11th July 2018 As part of efforts to boost investment demand for physical platinum, the World Platinum Investment Council (WPIC) has, in collaboration with Chinese company Shenzhen Hengfu Yingjia (Hengfu), launched the first platinum bar products in China. The launch of the high-purity 999.5 platinum bars forms... 

WPIC, Hengfu launch first platinum bar products in China

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

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