R/€ = 14.51 Change: -0.20
R/$ = 13.68 Change: -0.22
Au 1202.73 $/oz Change: 8.03
Pt 983.00 $/oz Change: 1.50

North America News

Iron-ore opens 2017 with a bang after flaying skeptics last year

By: Reuters     Updated 2 hours 46 minutes ago Iron-ore has carried last year’s bullish momentum into the start of 2017, with prices rallying to a two-year high amid speculation that China’s demand for overseas ore will hold up even as the world’s largest miners bring on new capacity. Ore with 62% content in Qingdao in China climbed 3.9% to... 

Ferrum, BVI in talks over delayed Moonlight BFS

By: Megan van Wyngaardt     Updated 7 hours ago A farm-in and joint venture agreement between triple-listed metals project developer Ferrum Crescent and Business Venture Investments (BVI) has stalled, after the latter failed to complete the first phase of a bankable feasibility study (BFS) at Ferrum’s Moonlight iron-ore project, in Limpopo. In... 

Gold rises on Trump uncertainty, Brexit concerns

By: Reuters     16th January 2017 Gold rose on Monday, buoyed by safe-haven demand due to uncertainty over US policy ahead of President-elect Donald Trump's inauguration and amid concerns over Britain's exit from the European Union. Spot gold had risen 0.5% to $1 203.15/oz by 0548 GMT. 

PTM aims at positive Maseve cash flow by midyear, looking at interim financing options

By: Henry Lazenby     14th January 2017 To achieve positive cash flow and to maintain its working capital covenants under existing loan facilities, Vancouver-based Platinum Group Metals (PTM) estimates that it needs to source between C$5-million and C$15-million of additional funding. The company would weigh options, including... 

Acacia confirms merger talks with Endeavour Mining

By: Reuters     14th January 2017 old miner Acacia Mining said on Friday it was in early talks about a possible merger with Canadian gold miner Endeavour Mining. Acacia, which operates mines and exploration projects in Tanzania, Kenya, Burkina Faso and Mali, was responding to media reports. 

Acacia confirms merger talks with Endeavour Mining

Lower costs, higher grades are key for U3O8 to attract attention in difficult market

By: Henry Lazenby     14th January 2017 Uranium-focused resource companies paid attention to the changing uranium landscape this week after major producer Kazakhstan said it would curtail output by 10%, pushing spot prices higher. One of them was project developer U3O8 Corp, which is focused on uranium and by-product commodities at its... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs

By: Henry Lazenby     13th January 2017 News this week that Kazakhstan will curtail its uranium output by about 10% this year has sent spot prices to the highest levels since September, provoking cautious optimism among market observers that the trough has been traversed. “I think that this move signals a fundamental change in... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs
Photo by Fission Uranium
Fission Uranium chairperson and CEO Dev Randhawa

Five mining legends to be inducted to Canadian hall of fame

By: Creamer Media Reporter      13th January 2017 The Canadian Mining Hall of Fame will induct five mining celebrities into the list of extraordinary mining leaders at the annual dinner to be held for the first time at the Metro Toronto Convention Centre. According to a news release, Canadian mining celebrity Robert McEwen leads the list of... 

Geopolitical tensions, other factors to boost gold demand this year

By: Megan van Wyngaardt     13th January 2017 Heightened political and geopolitical risks, currency depreciation, expectations of rising inflation, inflated stock market valuations, long-term Asian growth and the opening of new markets are all expected to positively influence demand for gold and gold’s performance this year, says the World... 

Geopolitical tensions, other factors to boost gold demand this year

Egypt’s revival in gold mining to boost exports, generate foreign reserves

By: Megan van Wyngaardt     13th January 2017 London-based research firm BMI Research has earmarked Egypt as a mining country to watch, given that its gold mining sector is expected to record strong growth of about 6% a year between 2017 and 2021. The firm noted that the country, which could see output of 740 000 oz/y by 2021, was inviting... 

India’s diamond exports to top buyer US seen rising on Trump

By: Bloomberg     13th January 2017 India’s diamond cutters, who polish 14 of every 15 of the world’s gems, are betting on Donald Trump to sustain the expansion of their biggest market in the US, even as Asian buying of luxury stones falters. India expects to export 10% to 15% more polished diamonds to the US in the year beginning... 

In Peru, a smelter's future stirs fears of its toxic past

By: Reuters     13th January 2017 Peruvian President Pedro Pablo Kuczynski's efforts to revive a nearly 100-year-old smelting complex could overcome a crucial hurdle at a coming auction where five companies have shown interest in placing bids. But celebration is far from universal given the sprawling smelter's toxic legacy and... 

Federal funding for new Tlicho all-season road a boost for Fortune’s Nico project

By: Henry Lazenby     13th January 2017 Federal funding for up to 25% of the construction costs for a new 97 km all-season road connecting Highway 3 to the community of Whati, in the Northwest Territories, augers well for project developer Fortune Minerals’ endeavours to secure financing for its nearby Nico cobalt/gold/bismuth/copper... 

Cerro Blanco a ‘game changer’ for junior explorer Bluestone

By: Henry Lazenby     13th January 2017 The acquisition of the fully permitted Cerro Blanco mine, in Guatemala, presents a “game-changing” opportunity for junior explorer Bluestone Resources. Under the leadership of veteran geologist, chairperson and CEO John Robins, who most recently oversaw the sale of Kaminak Gold to Goldcorp for... 

Cerro Blanco a ‘game changer’ for junior explorer Bluestone

Goldcorp unloads more noncore assets

By: Henry Lazenby     12th January 2017 Canadian gold major Goldcorp has agreed to sell two noncore assets in two days to junior project developers who see more potential in the projects. Vancouver-headquartered Goldcorp on Thursday announced the sale of its Los Filos mine, in Mexico, to TSX-V-listed Leagold Mining for $438-million. 

Financing solutions will be focus of upcoming diamond summit

By: Martin Creamer     12th January 2017 Finding real solutions to a wide range of financing problems will be the intense focus of the diamond industry's upcoming Presidents’ Meeting and Finance Seminar in Mumbai next month, where a financing task force is expected to be created. The official website of the 2017 Presidents’ Meeting and... 

Financing solutions will be focus of upcoming diamond summit
Photo by Duane Daws
World Federation of Diamond Bourses president Ernie Blom

Gold surges above $1 200 as details-shy Trump weighing on dollar

By: Bloomberg     12th January 2017 Spot gold rallied as investors flooded back into funds backed by the metal and the dollar fell in the aftermath of Donald Trump’s heated press conference that provided little detail of his economic stimulus plans. The metal is up more than 2% since the press conference started in New York on... 

Indonesia says Freeport, other miners halt exports

By: Reuters     12th January 2017 Freeport-McMoRan and other miners have halted Indonesian shipments of copper concentrates to abide by a government ban on semi-processed metal ore exports that took effect on Thursday, a mining ministry official told Reuters. The stoppage could prove to be brief though as President Joko Widodo's... 

BC agrees Kinder Morgan pipeline expansion meets 5 prerequisites

By: Henry Lazenby     12th January 2017 British Columbia has issued an environment assessment certificate for Kinder Morgan’s Trans Mountain Expansion project, adding its own 37 specific conditions. These conditions are based on the National Energy Board's (NEB's) project report on May 19, 2016, recommending to the federal government... 

BC agrees Kinder Morgan pipeline expansion meets 5 prerequisites
Photo by British Columbia Government
British Columbia Premier Christy Clark

Obama plan to shake up coal leases could restrict Trump

By: Bloomberg     12th January 2017 The outgoing Obama administration issued a blueprint for overhauling the way coal on federal land is sold, making it tougher for President-elect Donald Trump to resume sales under decades-old procedures. The report released Wednesday lays out a menu of potential options for policy makers to... 

BMI bumps up US coal outlook despite poor fundamentals

By: Henry Lazenby     12th January 2017 US coal production growth is forecast to be 1.5% in 2017 and 2% in 2018, up from previous forecasts of a respective contraction of 4% and 3% over the same periods, Fitch-affiliated market analyst BMI Research said in a recent trend analysis. “We have revised upward our US coal production growth... 

BMI bumps up US coal outlook despite poor fundamentals

Integra, Goldcorp team with 4 global technology majors seeking disruptive mining technologies

By: Creamer Media Reporter      11th January 2017 Gold companies Integra Gold and Goldcorp have teamed with four of the world's largest technology companies to explore potential applications of disruptive technologies in the mining sector. #DisruptMining is a marquee event during the yearly Prospectors and Developers Association of Canada (PDAC)... 

Hits and misses as production reports roll in

By: Henry Lazenby     11th January 2017 Several North American miners issued fourth-quarter and full-year 2016 production reports on Wednesday, with some reporting better-than-expected results and others missing the mark. TSX- and NYSE MKT-listed streaming and royalty firm Sandstorm Gold sold record volume of 13 200 attributable... 

Hits and misses as production reports roll in

Slumping fertiliser makers turn to high-margin industrial uses

By: Reuters     11th January 2017 Makers of fertilisers that boost corn and palm growth are taking advantage of higher profit margins for uses in other industries, such as oil drilling and livestock feed, to ride out a severe slump. Potash and phosphate prices touched multi-year lows last year due to a capacity glut and soft... 

Brazil's Funcesp says Vale stake sale not under discussion

By: Reuters     11th January 2017 Fundação Cesp, Brazil's largest private-sector pension fund, said on Wednesday it is not currently holding discussions over the partial or full sale of a 200-million real ($62-million) stake it owns in Vale, the world's largest iron-ore producer. The fund issued a statement after newspaper Valor... 

Mexico's industrial production flat as mining slumps

By: Reuters     11th January 2017 Mexican industrial output was flat in November as factory production rose to its fastest pace in nearly a year but mining shrank, Mexico's national statistics office said on Wednesday. Mexican industrial production was unchanged compared to the prior month, data showed, and down from a 0.2%... 

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

Wood Mackenzie sees uptick in oil and gas industry this year

By: Megan van Wyngaardt     11th January 2017 The global investment cycle will show the first signs of growth in 2017, since 2014, as confidence the oil and gas sector will start to return, with exploration and production spend set to rise by 3% to $450-billion. This, analysis firm Wood Mackenzie said on Wednesday, would also result in a... 

Wood Mackenzie sees uptick in oil and gas industry this year

BHP execs meet with Trump, Pence

By: Esmarie Swanepoel     11th January 2017 Mining major BHP Billiton has confirmed a meeting between its management and US President-elect Donald Trump and Vice President-elect Mike Pence. “BHP Billiton chairperson Jac Nasser and CEO Andrew Mackenzie had a productive meeting with President-Elect Trump and Vice President-Elect Pence in... 

Gold holds near six-week peak on safe-haven demand

By: Reuters     11th January 2017 Gold on Wednesday held near a six-week high hit in the previous session, with economic and political uncertainty boosting its safe-haven appeal. Markets were waiting for indications on policy from US President-elect Donald Trump's first news conference since the US elections, due later in the day. 

Gold holds near six-week peak on safe-haven demand

Agrium completes urea plant at Texas nitrogen facility

By: Henry Lazenby     11th January 2017 Dual-listed Agrium has completed an expansion build-out at its Borger nitrogen operations, providing improved supply chain integration and product diversification and availability in the important agricultural region of Texas. The company, which is in the process of merging with Canadian... 

Barrick signs exploration earn-in agreement with Osisko on Kan property

By: Henry Lazenby     11th January 2017 TSX-listed Osisko Mining has signed an exploration agreement with Barrick Gold, which allows the gold major to earn a 70% interest on the Kan property, in northern Quebec. Under terms of the agreement, Barrick must spend $15-million over a four-year period, subject to certain yearly work... 

New challenges abound in fundamentally changed diamond market

By: Henry Lazenby     11th January 2017 The future of the diamond industry hinges on the follow-through of structural changes that have been prompted by the challenges the industry faced, and the opportunities presented in a fundamentally changed diamond market, independent diamond analyst Paul Zimnisky says in a new blog post. He... 

New challenges abound in fundamentally changed diamond market

Operations at Yamana gold mine in Chile suspended late last week

By: Reuters     10th January 2017 Operations at Canadian miner Yamana Gold's El Peñón mine, in northern Chile, were suspended "late last week" after underground workers rejected the company's final offer and one of two unions went on strike, a company spokesperson said on Tuesday. El Peñón is Yamana's second biggest gold mine by... 

Kincora advances Mongolian porphyry discovery

By: Henry Lazenby     10th January 2017 Exploration work by TSX-V-listed Kincora Copper has confirmed that its East Tsagaan Suvarga (East TS) target is a mineralised porphyry system with comparable geochemistry, magma fertility and age to that of other developed projects in the same mineral belt, including the massive Oyu Tolgoi and... 

Energy Fuels mulls options on heels of federal approval for Wyoming uranium project

By: Henry Lazenby     10th January 2017 US-focused uranium producer Energy Fuels is mulling over its options for the Sheep Mountain uranium project, in Wyoming, after receiving a positive federal Bureau of Land Management (BLM) final environmental impact statement (EIS) and record of decision (ROD) for the project. The news sent the... 

Energy Fuels mulls options on heels of federal approval for Wyoming uranium project

Mineral ‘wrongs’ righted 

By: Martin Creamer     10th January 2017 A company that showed diligence in applying for mineral rights ended up getting mineral ‘wrongs’, a court has found. The Gauteng division of the High Court in Pretoria has ruled that Aquila Steel South Africa is entitled to the mineral right that South Africa’s Department of Mineral Resources... 

Gold hits highest in over a month on Brexit, Trump concerns

By: Reuters     10th January 2017 Gold rallied to its highest level in more than a month on Tuesday as the dollar dipped ahead of a news conference on Wednesday by US President-elect Donald Trump. The market is looking for more clues on Trump's spending plans in the first speech since his shock win in November, pushing the dollar... 

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