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North America News

Protesters shut down TransCanada pipeline hearing in Montreal

By: Reuters     Updated 2 hours 12 minutes ago Canada's National Energy Board cancelled the first day of hearings on TransCanada Corp's proposed Energy East pipeline in Montreal on Monday after protesters disrupted the panel session, an agency spokesperson said. Montreal police said three protesters were arrested on obstruction charges, with... 

Investigation finds Samarco dam failed due to liquefaction

By: Reuters     Updated 3 hours ago An investigation launched by Brazilian miner Samarco, and its owners Vale and BHP Billiton, into the cause of a dam spill last November found the dam collapsed due to liquefaction, a presentation said on Monday. Liquefaction is a process whereby a solid material such as sand loses strength and... 

Rye Patch breaks ground in Florida Canyon restart campaign

By: Henry Lazenby     Updated 3 hours ago Nevada-focused project developer Rye Patch Gold has started construction of new south heap leach facility at its newly acquired Florida Canyon mine, which it bought from Japan-based Admiral Capital at the end of July. "The company has embarked on a transformational journey to become Nevada's next... 

Barrick pours first gold at South Arturo

By: Henry Lazenby     Updated 5 hours ago Gold major Barrick Gold has poured first gold at its South Arturo mine, located in Nevada’s Carlin Trend, its 40%-joint-venture partner Premier Gold Mines reported Monday. Barrick, as the operator through its subsidiary Barrick Gold Exploration, processes the ore from South Arturo at its... 

Platinum industry not mining anywhere near forecast demand – Northam 

By: Martin Creamer     29th August 2016 The platinum mining industry is not mining anywhere near the forecast demand of nine-million ounces by 2025, the nominal global demand quantum based on a modest compound annual growth rate of only 1.5%. Nine-million ounces is a large number relative to primary mine production out of Southern... 

Platinum industry not mining anywhere near forecast demand – Northam
Northam Platinum CEO Paul Dunne comments on platinum’s supply/demand outlook to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer

Chrome output becoming ‘strategic’ for Northam Platinum 

By: Martin Creamer     29th August 2016 Chrome ore is becoming increasingly strategic for platinum mining company Northam Platinum. The Johannesburg Stock Exchange-listed company, which produced 45.1% more chrome in the 12 months to June 30 than the prior year, expects to be producing at a rate of one-million tonnes of chrome ore a... 

Chrome output becoming ‘strategic’ for Northam Platinum
Northam Platinum CEO Paul Dunne comments on chrome to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer. 29.8.2016

Resolute acquires interest in DRC-focused explorer

By: Megan van Wyngaardt     29th August 2016 Australian mining firm Resolute Mining has acquired a 14.6% interest in Canadian explorer Kilo Goldmines, which is advancing projects in the Democratic Republic of Congo (DRC). Resolute bought 24.7-million shares, at a cost of A$2.5-million, in Kilo’s recently completed private placement. 

Jogmec joins Atrum’s anthracite search in Canada

By: Megan van Wyngaardt     29th August 2016 Australia-listed, but Canada-headquartered developer Atrum Coal and Japan Oil, Gas and Metals National Corporation (Jogmec) will jointly explore for anthracite in the southern part of the Groundhog coal field, in British Columbia. The joint venture (JV), which was announced by both companies in... 

Hedge funds bail on copper as Goldman sees ‘supply storm’

By: Bloomberg     29th August 2016 Copper is stuck in a rut. While other metals have shined in 2016, copper has struggled to gain traction and last week erased its gains for the year. Demand in China, the world’s biggest user, is slowing just as Goldman Sachs Group predicts a “ supply storm” will hit the market and drag prices... 

International Frontier formalises partnership with Mexican govt over Tecolutla JV

By: Henry Lazenby     27th August 2016 TSX-V-listed International Frontier Resources (IFR) announced Friday that Tonalli Energia met all the terms and conditions and signed a license contract with the Mexico Comision Nacional de Hidrocarburos (CNH) for the Onshore Oil and Gas Development Block 24 (Tecolutla), granting Tonalli the... 

Goldsource stock stumbles on revised lower guidance

By: Henry Lazenby     27th August 2016 The TSX-V-listed stock of junior gold producer Goldsource Mines on Friday fell by as much as 20% after the company revised lower its full-year guidance, citing weather-related issues, a delay in the shipment of a 40 t truck to site and low-grade ore. The Vancouver-based company reported that... 

Wealth Minerals aggressively advances Chile lithium asset acquisitions

By: Henry Lazenby     26th August 2016 The Vancouver- and Santiago-based teams of junior explorer Wealth Minerals have since February put together the largest brine property package in Chile of any junior mining company, in the hopes of capitalising on the rising tide of the energy metal. On Wealth’s team is Marcelo Awad, a former... 

Wealth Minerals aggressively advances Chile lithium asset acquisitions

Gold believers from Soros to UBS lose faith in miners’ gain

By: Bloomberg     26th August 2016 The red-hot market for gold-mining companies has made the shares too expensive for some investors, even though they remain bullish on the outlook for bullion. Earlier this year, fund managers including George Soros had gobbled up shares of producers such as Barrick Gold and Newmont Mining in a... 

Gold believers from Soros to UBS lose faith in miners’ gain
George Soros

Vale ordered to pay C$30 000 for 2013 Voisey’s spill

By: Henry Lazenby     26th August 2016 A Vale subsidiary has been ordered to pay C$30 000 in penalties for a 2013 incident, where untreated and acutely lethal effluent was discharged from the Voisey’s Bay nickel mine, in Newfoundland and Labrador, into the Anaktalak Bay. The St Johns provincial court ordered Vale Newfoundland and... 

Kinross suspends Chile mine ops, lays off 300 workers

By: Henry Lazenby     26th August 2016 Canadian miner Kinross Gold has laid off about 300 workers at its Maricunga mine, in Chile, after it was forced to suspend operations earlier than planned owing to a court ruling upholding a local regulator’s resolution to close the mine’s water pumping wells. Kinross previously stated that it... 

Noront expands RoF land-holdings, outlines exploration and development strategies

By: Henry Lazenby     26th August 2016 Northern Ontario-focused project developer Noront Resources has increased its position as the dominant land-holder in the prospective Ring of Fire (RoF) mining camp after closing the acquisition of 75% of MacDonald Mines’ claims in the region, the company said this week. Through the transaction,... 

Ivanhoe expands Kakula mineralisation as Kamoa construction gathers pace

By: Henry Lazenby     25th August 2016 Africa-focused explorer and project developer Ivanhoe Mines has reported further intercepts of greater than 10% copper, at a 3% cut-off, highlighting the high-grade nature of the thick, flat-lying, shallow, chalcocite-rich core of the Kakula Discovery zone, near the Kamoa copper project in the... 

Anglo Pacific reports strong interim results as royalty income rises

By: Henry Lazenby     25th August 2016 Royalty streaming firm Anglo Pacific Group has reported strong results for the first half of 2016, more than doubling free cash flow and narrowing its net loss, which was helped by a weaker pound and higher royalty income. For the interim period ended June 30, the London, UK-based firm reported a... 

Safety dominates Sibanye results presentation as 125% profit surge takes back seat 

By: Martin Creamer     25th August 2016 Top performing precious-metals mining company Sibanye Gold, dismayed by an uncharacteristic spate of mineworker fatalities, began its presentation of high-cash results for the half-year with a safety moment as a mark of its determination to up its safety performance. The 125% surge in profits in... 

Safety dominates Sibanye results presentation as 125% profit surge takes back seat
Sibanye Gold presentation attended by Mining Weekly Online’s Martin Creamer. Photographs, Video and Video Editing: Darlene Creamer

Iron-ore at risk as China veteran warns steel output to drop

By: Bloomberg     25th August 2016 Steel production in China, the world’s biggest supplier, will probably contract this year and shrink further in 2017 as local demand slows, hurting the outlook for iron-ore, according to Li Xinchuang, a vicechairperson at the China Iron & Steel Association. “There will be significant declines in... 

Sibanye Gold declares R785m dividend

By: Martin Creamer     25th August 2016 Johannesburg- and New York-listed precious metals mining company Sibanye Gold on Thursday reported strong financial results for the six months ended June 30, driven mainly by a higher rand gold price and underpinned by solid production from both the gold and platinum divisions. Sibanye's... 

Sibanye Gold declares R785m dividend

Paladin narrows FY net loss, to lower output amid low price environment

By: Henry Lazenby     25th August 2016 Falling uranium prices are forcing dual-listed uranium miner Paladin Energy to cut back production even further. The TSX- and ASX-listed miner on Wednesday announced that it was working on a proposed plan to reduce mining and mill throughput at the Langer Heinrich Mine (LHM), in Namibia, with... 

Paladin narrows FY net loss, to lower output amid low price environment

Fission finds more uranium to the west of PLS’s Triple R deposit

By: Henry Lazenby     25th August 2016 Explorer Fission Uranium has found uranium pathfinder elements and strong radioactivity in two new drill holes completed to the west of the western-most deposit at the Patterson Lake South (PLS) project, in Canada’s Athabasca basin. The Kelowna, British Columbia-based junior on Wednesday... 

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Tightening supply should bode well for commodity prices – Glencore
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Gold price could appreciate once growth in Asia recovers – investment firm

By: Samantha Herbst     24th August 2016 Asia’s seemingly imminent economic recovery could spark an increase in gold prices, according to investment management firm Allan Gray portfolio manager Sandy McGregor, who connects the gold price decline, which started in 2012, with Asia’s economic woes and its reputation as the world’s biggest... 

Gold price could appreciate once growth in Asia recovers – investment firm

Think zinc: miners bet big on revival in key base metal market

By: Reuters     24th August 2016 Resource companies are racing to dig zinc mines, betting that markets for the metal used to rust-proof steel and protect noses from sunburn have finally turned after a decade in the doldrums. A supply glut is evaporating as big zinc mines run dry, commodity analysts say, helping drive up prices... 

Copper poised to be only metal loser this year as stocks pile up

By: Bloomberg     24th August 2016 Copper’s on the verge of becoming the only major metal to post a loss this year as the highest stockpiles in almost seven months suggest the market is amply supplied. Inventories of copper, used in everything from wiring to automobiles to iPhones, rose 4.7% to 240 075 metric tons, according to... 

Trudeau faces split Aboriginal groups in Kinder Morgan ruling 

By: Bloomberg     24th August 2016 In the rolling country of central British Columbia, Michael LeBourdais’s Whispering Pines Indian Band is looking forward to a cash injection from a new pipeline proposed by Kinder Morgan Energy Partners LP. He’ll be seeking compensation for his band if it doesn’t go through. Meanwhile, 400 km... 

Timmins Gold extends San Francisco mine life to 2023

By: Henry Lazenby     24th August 2016 Mexico-focused gold miner Timmins Gold has completed a new Canadian National Instrument 43-101-compliant technical report on its San Francisco gold mine, extending the mine life out to 2023. The Vancouver-based company on Monday announced a new mine plan for the asset that is expected to generate... 

Redstar’s stock spikes as Eric Sprott takes 12.1% stake

By: Henry Lazenby     24th August 2016 The TSX-V-listed stock of North America-focused exploration firm Redstar Gold spiked by as much as 30% on Tuesday, after precious-metals heavyweight investor Eric Sprott agreed to take a 12.1% stake in the company. Sprott (71), a renowned and respected leader in the investment community, is one... 

Diamcor launches C$5m financing

By: Henry Lazenby     23rd August 2016 South Africa-focused diamond project developer Diamcor has launched a C$5-million brokered private placement. Proceeds from the offering will be used for the acquisition of additional operational equipment and materials to support the continued advancement of the company's Krone-Endora at Venetia... 

Venezuela ordered to pay $2.17bn to Russian junior for 2011 project expropriation

By: Henry Lazenby     23rd August 2016 The government of the Bolivarian Republic of Venezuela has been ordered to pay a Russian-owned junior mining company nearly $2.2-billion in compensation and interest for illegally expropriating the company’s assets without compensation in 2011. Following the news, Rusoro Mining’s TSX-V-listed... 

Venezuela ordered to pay $2.17bn to Russian junior for 2011 project expropriation

Debt holders tender 23% of outstanding notes in Iamgold's early tender offer

By: Henry Lazenby     23rd August 2016 Iamgold on Monday announced the early tender results of its cash tender offer for up to $150-million in principal amount of the company’s outstanding 6.75% senior notes due 2020, advising that $145.7-million in principal, or about 23% of notes outstanding, had been tendered and not withdrawn by... 

Executives believe they can survive lower metals outlook – KPMG

By: Megan van Wyngaardt     23rd August 2016 Fewer than half of senior metals executives responding to KPMG International’s 2016 Global Metals & Mining Outlook survey voiced any level of confidence in the prospects for the global economy over the next two years. This was particularly concerning given the tight relationship between the... 

Entrepreneurs pursuing gold dump projects, ‘pennyweight’ opportunities at depth 

By: Martin Creamer     23rd August 2016 Fresh from developing seven superb gold projects in Africa, mining project company DRA is excited about new gold project opportunities opening up in South Africa, where its sees much potential in gold tailings retreatment and also in underground gold deposits that are still rated in the... 

Entrepreneurs pursuing gold dump projects, ‘pennyweight’ opportunities at depth
DRA global executive process Glenn Bezuidenhout outlines gold project potential to Mining Weekly’s Martin Creamer. Photographs: Duane Daws. Video: Nicholas Boyd.

Old rings are treasure as gold rally revives scrap recycling

By: Bloomberg     23rd August 2016 The surprising rebound in gold prices this year has given new life to unwanted jewelry, coins and trinkets – in the melting pot. More than a third of the world’s bullion supply usually comes from recycled metal, but purchases at pawn shops and cash-for-gold companies had slowed during a... 

Illinois granted ‘superpriority’ claims to Peabody’s self-bonding obligations 

By: Henry Lazenby     23rd August 2016 The US state of Illinois has reached a ‘superpriority’ settlement agreement with major coal producer Peabody Energy relating to the company’s self-bonding obligations in the state. This is the fourth superpriority settlement agreement, following agreements with Wyoming, New Mexico and Indiana... 

Eldorado diversifies exploration portfolio

By: Henry Lazenby     23rd August 2016 Canadian gold producer Eldorado Gold has added four new exploration properties located in Romania, Serbia and Brazil to its portfolio, the miner said on Monday. Eldorado VP of of exploration Peter Lewis said the company was excited by the addition of the projects, since they all included defined... 

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