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North America News

India’s crude oil imports from Iran, Venezuela come under US pressure

By: Ajoy K Das     22nd March 2019 India is negotiating with the US for exemptions from “extended sanctions” to maintain its current level of crude oil imports from Iran, but the country is also under pressure from the US administration to halt all crude purchase from Venezuela. According to officials here familiar with ongoing... 

Now BHP will earn into Luminex projects in Ecuador

By: Creamer Media Reporter      22nd March 2019 Canadian junior Luminex Resources has brought in another major miner to earn into its projects in Ecuador, announcing a letter of intent to enter into a farm-in and joint venture (JV) agreement with BHP over the Tarqui 1 and 2 mining concessions. BHP will have the right to earn up to a 70%... 

Palladium rally is seen fading this year  

By: Bloomberg     22nd March 2019 Palladium has been one of the hottest commodities for a while now, but analysts think this year may be the time to book profits. Prices have rallied to fresh records on tighter supplies of the material mainly used in gasoline vehicle autocatalysts. But analysts surveyed by Bloomberg see the metal... 

Hudbay wraps up Rosemont permitting process

By: Mariaan Webb     22nd March 2019 TSX- and NYSE-listed Hudbay Minerals has wrapped up the permitting process for the Rosemont mine in Arizona, having received the approved mine plan of operations (MPO) from the US Forest Service. The issuance of the MPO is the final administrative step in the permitting process. 

Hudbay wraps up Rosemont permitting process

Macarthur finds buyer for Lake Giles iron-ore

By: Esmarie Iannucci     22nd March 2019 Canada’s Macarthur Minerals has inked a binding $4-billion life-of-mine offtake agreement with diversified major Glencore over the iron-ore at its Lake Giles project, in Western Australia. the terms of the agreement, Glencore would acquire an average of four-million tonnes a year of Lake Giles... 

Paulson says will not support Newmont takeover bid for Goldcorp

By: Reuters     22nd March 2019 Paulson & Co Inc will not support Newmont Mining's planned $10-billion takeover of rival Goldcorp Inc as the premium offered is unjustified, the investor said in a letter on Thursday. The transaction is dilutive to Newmont shareholders and only Goldcorp shareholders would benefit from the deal's... 

Paulson says will not support Newmont takeover bid for Goldcorp
Newmont CEO Gary Goldberg

Barrick may close Montana’s Golden Sunlight mine

By: Creamer Media Reporter      22nd March 2019 The Golden Sunlight mine that Barrick Gold has been operating in Montana since 1975 may be heading for closure. The NYSE- and TSX-listed miner has already ceased underground development and is limiting mining to existing areas only. A final new mill run to process gold ore is scheduled for May. 

Pure Alumina buys Canadian player

By: Esmarie Iannucci     21st March 2019 ASX-listed Pure Alumina has made a C$25.75-million offer for privately held Polar Sapphire, which would allow the Australian company to fast-track its plans to start the commercial production of a 99.99% high purity alumina (HPA) in 2019. Pure Alumina is offering C$13.75-million worth of company... 

Pure Alumina buys Canadian player

Labour Court declares Sibanye wage extension valid  

By: Marleny Arnoldi     20th March 2019 Precious metals miner Sibanye-Stillwater on Wednesday advised that the Labour Court has declared legal the extension of Sibanye’s wage agreement with the National Union of mineworkers (NUM), UASA and Solidarity, to non-unionised members. Sibanye extended, in December, the wage agreement to... 

Labour Court declares Sibanye wage extension valid
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Global Witness says more needs to be done to halt human rights abuses in diamond mining

By: Marleny Arnoldi     20th March 2019 International nonprofit organisation Global Witness (GW) has welcomed the World Diamond Council’s (WDC’s) response to the government-led Kimberley Process (KP) certification scheme, but says more needs to be done. The organisation pointed out in a release that the WDC had, in recent weeks,... 

Global Witness says more needs to be done to halt human rights abuses in diamond mining

Canada’s Budget commitment to the North seen as positive for mining

By: Creamer Media Reporter      20th March 2019 Canada’s North, where the future of the country’s mining industry lies, has received a boost in Tuesday’s federal government Budget, with a commitment of more than C$700-million over the next ten years in new and focused funding for Arctic communities. The Budget increased the allocation of the... 

Canada’s Budget commitment to the North seen as positive for mining

Galane donates Galaxy shares to Phakamani Foundation

By: Marleny Arnoldi     20th March 2019 TSX-listed Galane Gold has completed the donation of 17% total issued share capital of Galaxy Gold Mining to the Phakamani Foundation, as part of its empowerment requirements in South Africa. Phakamani is a development micro-finance institution that provides loans to expose entrepreneurs to... 

Kinross acquires 9.7% of Wolfden Resources

By: Marleny Arnoldi     20th March 2019 TSX-V-listed Wolfden Resources’ share price shot up 5% to C$0.18 apiece, following its announcement that Kinross Gold would take a 9.7% stake in the junior miner. The subscription agreement entails a nonbrokered private placement of about 12.5-million common shares of Wolfden at a price of... 

Iamgold retrenches 32% of Westwood workforce

By: Marleny Arnoldi     20th March 2019 TSX-listed Iamgold announced on Tuesday that it would reduce its workforce at the Westwood gold mine, in Quebec, by 32%. The decision arose from both planned reductions, which are owing to the stage of mine development, and from realignment reductions, which are owing to previously disclosed... 

Climate challenge harder than it seems, JP Morgan executive warns

By: Bloomberg     20th March 2019 The world isn’t cutting carbon emissions anywhere near quickly enough, a senior executive at JP Morgan Asset Management told clients this week – and changing that will require far harder choices than most people realise. In his annual 'Energy Outlook' report, Michael Cembalest, chairperson of... 

US sanctions Venezuela gold mining company for backing Maduro

By: Reuters     20th March 2019 The United States imposed sanctions on Tuesday against Venezuela's State-run gold mining company Minerven and its president, Adrian Perdomo, accusing them of illicit operations and propping up the government of President Nicolas Maduro. The announcement comes days after Uganda said it was... 

Paringa gets debt funding for Poplar Grove

By: Esmarie Iannucci     20th March 2019 Coal developer Paringa Resources has secured a $56-million debt facility to refinance its existing debt facility and accelerate the expansion of the Poplar Grove mine, in Kentucky. The debt financing from Tribeca Global Resources Credit will be subject to the completion of a due diligence, the... 

Sumitomo says Ambatovy nickel plant shut for 2 weeks in February

By: Reuters     20th March 2019 Japanese trading house Sumitomo Corp said on Wednesday its Ambatovy nickel plant in Madagascar was forced to shut for about two weeks in early February due to trouble at its hydrogen plant, and may miss its revised annual production target. Sumitomo owns a 47.7% stake in Ambatovy, while South... 

AMCU reaches in-principle settlement with CCMA in wage dispute with Sibanye

By: Marleny Arnoldi     19th March 2019 The Association of Mineworkers and Construction Union (AMCU) has accepted, in principle, a proposed settlement agreement advanced by the Commission for Conciliation, Mediation and Arbitration (CCMA), in at attempt to resolve the wage dispute between the union and precious metals miner... 

Federal Reserve to remain on hold for the rest of 2019 – World Gold Council

By: Marleny Arnoldi     19th March 2019 The World Gold Council (WGC) on Tuesday released its latest ‘Investment Update: The impact of monetary policy on gold’ publication, in which it outlines expectations that the upcoming Federal Reserve Open Markets Committee (FOMC) meeting on March 20 will confirm market expectations that the... 

First gold pour at Endeavour’s Ity completed ahead of schedule

By: Simone Liedtke     19th March 2019 The first gold pour at TSX-listed Endeavour Mining’s Ity carbon-in-leach (CIL) project, in Côte d'Ivoire, took place on March 18, four months ahead of schedule and under budget. The first pour yielded about 1 800 oz of gold. 

First gold pour at Endeavour’s Ity completed ahead of schedule

US hits Venezuela State miner with new sanctions

By: Reuters     19th March 2019 U.S. hits Venezuela with new sanctions on state-run mining company 

Equinox hikes resource estimates for Aurizona, Mesquite

By: Marleny Arnoldi     19th March 2019 TSX-V-listed Equinox Gold has completed an updated mineral resource estimate for its Aurizona gold mine, in Brazil, and an updated mineral reserve and resource estimate, as well as a technical report, for its Mesquite gold mine, in the US. Aurizona’s measured and indicated resources increased... 

Canadian miner blasts Armenia as third audit of Amulsar project gets under way

By: Mariaan Webb     19th March 2019 The Armenian government has started its third assessment of the Amulsar gold project’s environmental impact on water resources, geology, biodiversity and water quality, Canada-based Lydian International reported on Tuesday, questioning the need for another review of the gold-mining project. The... 

Canadian miner blasts Armenia as third audit of Amulsar project gets under way

Palladium tops $1 600 as metal sets new highs on supply shortage  

By: Bloomberg     19th March 2019 Palladium topped $1 600/oz for the first time, and there’s little sign of the rally slowing as global supply tightens. The price of the metal – mainly used in autocatalysts in gasoline vehicles – has almost doubled from a recent low in August. Demand has remained robust as manufacturers scramble... 

Menar’s Canyon offers Eskom cheaper coal on open-book basis  

By: Martin Creamer     19th March 2019 Coal mining company Canyon Coal, a Menar group company, is prepared to offer coal to State-owned electricity utility Eskom at a cheaper price on an open-book basis from two new projects. The Menar group, which does not supply coal to Eskom at present, employs 3 500 people on a R7-billion asset... 

Menar’s Canyon offers Eskom cheaper coal on open-book basis
Menar MD and Canyon Coal executive chairperson Vuslat Bayoğlu talks to Mining Weekly Online’s Martin Creamer. Photos: Creamer Media’s Dylan Slater. Video: Nicholas Boyd

Rio Tinto must face SEC suit over Mozambique coal assets 

By: Bloomberg     19th March 2019 Rio Tinto Group must face a US Securities and Exchange Commission (SEC) lawsuit over the company’s valuation of coal assets in Mozambique, a federal judge ruled. US authorities in October 2017 filed fraud charges against London-based Rio Tinto, former CEO Tom Albanese and former CFO Guy... 

Rio Tinto must face SEC suit over Mozambique coal assets
Photo by Creamer Media
Rio Tinto former CEO Tom Albanese

Labour Court dismisses AMCU interdict against Sibanye restructuring 

By: Marleny Arnoldi     18th March 2019 Sibanye-Stillwater on Monday said the South African Labour Court has dismissed the application made by the Association of Mineworkers and Construction Union (AMCU) to interdict the Section 189A restructuring process at the miner’s gold operations in South Africa. Sibanye on February 14... 

Labour Court dismisses AMCU interdict against Sibanye restructuring
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Alrosa wants controlling stake to mine in Zimbabwe

By: Reuters     18th March 2019 Russian State-controlled miner Alrosa will assess the quality of Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company's chief executive said on Monday. Zimbabwe is seeking to attract investment and has... 

Chile enviro court ruling on Pascua-Lama closure overturned

By: Marleny Arnoldi     18th March 2019 The Supreme Court of Chile has overturned an Environmental Court order to permanently close the stalled Pascua–Lama project, which straddles the Andes mountains with Argentina. The Supreme Court last week annulled the October 2018 administrative decision of the Antofagasta Environmental Court on... 

Chile enviro court ruling on Pascua-Lama closure overturned
Photo by Reuters
Barrick's Pascua-Lama project, in Chile

Opec+ affirms commitment to oil cuts, defers decision to extend

By: Bloomberg     18th March 2019 Saudi Arabia led fellow members of the Opec+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which includes Russia, Iraq and the... 

Bristow taking Barrick helm aids Acacia talks, Tanzania AG says  

By: Bloomberg     18th March 2019 Mark Bristow taking over the leadership of Barrick Gold facilitated negotiations with Tanzania about a multibillion-dollar tax dispute that could be resolved by May, the country’s attorney general said. Barrick unit Acacia Mining has been at odds with Tanzania’s government since July 2017, when... 

NY battery plant gets $52m term sheet

By: Esmarie Iannucci     18th March 2019 The Imperium3 consortium, in which ASX-listed Magnis Energy Technologies holds an effective 47% share, has secured a $52-million term sheet to develop a battery plant in New York. Magnis on Monday told shareholders that the term sheet was issued after an eight-week due diligence process on the... 

Allegiance's Tenas project proves up

By: Esmarie Iannucci     18th March 2019 A definitive feasibility study (DFS) into the Tenas coal project, in British Columbia, has found that the project could produce some 750 000 t/y of saleable coal. ASX-listed Allegiance Coal on Monday reported that the DFS estimated a 22-year mine for the project, extracting just 15% of the... 

Continental obtains $175m for Colombia gold mine

By: Creamer Media Reporter      18th March 2019 TSX-listed project developer Continental Gold has obtained a $175-million funding package to complete the construction, commissioning and start-up of its Buriticá gold project, in Colombia. The package consists of $75-million of unsecured convertible debentures issued to certain investors,... 

The coal miner who bet everything on US power markets and lost

By: Bloomberg     18th March 2019 Eleven years ago, Cloud Peak Energy made an all-or-nothing bet its rivals were unwilling to match: that coal would remain indispensable to the US power sector. That gamble has now pushed it to the brink of bankruptcy. 

The coal miner who bet everything on US power markets and lost

Deripaska sues over US sanctions, claims $7.5bn loss

By: Bloomberg     18th March 2019 Russian billionaire Oleg Deripaska is fighting back in a US court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin. Deripaska, who made his... 

Deripaska sues over US sanctions, claims $7.5bn loss
Oleg Deripaska

Power station for Tanami mine completed – Newmont

By: Creamer Media Reporter      15th March 2019 The $245-milion power station project for Newmont Mining’s Tanami gold mine, in Australia, has been completed, the US-based gold and copper major reported on Friday. The project entailed the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline.... 

Power station for Tanami mine completed – Newmont
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