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Feds give Seabridge Gold's KSM the environmental nod

By: Henry Lazenby     Updated 3 hours ago One of the world’ largest undeveloped gold and copper projects, Seabridge Gold’s KSM project, in north-west British Columbia, has received the nod of approval from Canada’s Minister of the Environment Leona Aglukkaq, marking the end of a nearly seven-year journey to complete the joint harmonised... 

Alpha Natural affiliates settle selenium-discharge cases brought by greens

By: Henry Lazenby     Updated 4 hours ago US coal producer Alpha Natural Resources affiliated mining operations has settled three selenium-discharge law suits brought by four environmental organisations. Selenium is a naturally occurring element that could be released into streams as a by-product of some common earth moving activities,... 

Oyu Tolgoi on track for full-year guidance despite concentrator fire, lowers 2015 guidance

By: Henry Lazenby     Updated 4 hours ago Rio Tinto Subsidiary Turquoise Hill Resources on Friday reported that despite a recent concentrator fire at the massive Oyu Tolgoi copper/gold mine, in Mongolia, the operation was on track to meet its expected full-year output. Turquoise Hill in October reduced its 2014 forecasts for gold and... 

Sherritt International announced 2 new production-sharing contracts with Cuba

By: Henry Lazenby     Updated 5 hours ago TSX-listed Sherritt International Corp on Firday announced that it had inked two more production sharing contracts (PSCs) with Cuba, where it has oil and gas assets. The new blocks, 8A and 10, are located in Central and Northern Cuba and cover areas of 967 km2 and 261 km2, respectively. 

Zambia royalty hike to force mine closures – chamber

By: Reuters     Updated 6 hours ago Zambia's decision to hike royalty rates on open pit mining from 6% to 20% will lead to shaft closures and 12 000 job losses, the chamber of mines said on Friday. Barrick Gold said on Thursday it would suspend operations at its Lumwana Copper Mine after royalty increases were passed into law in... 

Zambia royalty hike to force mine closures – chamber

Colombia fixes moorland boundaries affecting gold miners

By: Reuters     Updated 6 hours ago Colombia's Environment Ministry announced it had fixed the boundaries of an ecologically delicate moorland in the country's northeast, a decision that would affect two of three miners with a licence to explore or develop mining there. Environment Minister Gabriel Vallejo said 100 000 ha of land... 

Gold tooth lands in Missouri Salvation Army kettle

By: Reuters     Updated 6 hours ago People have tossed gold and silver pieces into Salvation Army holiday kettles but a gold tooth found this week in Kansas City was a local first, an organisation leader said on Friday. "It's the whole tooth, with the root and everything," said Rick Carroll, who is in charge of the Salvation Army... 

Benchmark ferrochrome price settled 6% lower – Merafe

By: Martin Creamer The European benchmark price of ferrochrome has been settled 6% lower for the first quarter of next year, the JSE-listed Merafe Resources said on Friday. The price of $1.08/lb for the first quarter of 2015 is seven cents a pound lower than the current $1.15/lb price of the fourth quarter of 2014. 

Benchmark ferrochrome price settled 6% lower – Merafe
Photo by Duane Daws
Ferrochrome production at Glencore-Merafe's Lion smelter

Peru OKs environmental study for Southern Copper mine expansion

By: Reuters Peru approved the environmental study for Southern Copper's $1.2-billion expansion of its Toquepala mine, a project expected to raise copper output by 100 000 t/y, the government said on Thursday. Construction on the expansion, which will add a new concentrator at the mine and boost its tailings... 

Management-shuffling Karnalyte receives meeting request from activist shareholders

By: Henry Lazenby Saskatchewan-focused potash project developer Karnalyte Resources on Thursday said it had received a shareholder-meeting requisition from company founder, former president, CEO and director Robin Phinney. TSX-listed Karnalyte said the board was asked to call a special shareholder meeting to... 

BC chief inspector of mines amends Mt Polley Act to enable repairs to start

By: Henry Lazenby The chief inspector of mines for British Columbia has approved an amendment to the Mount Polley Mine Corporation Mines Act permit to allow the company to start repairs of the breach in its tailings storage facility dam. The repair work was part of the long-term remediation plan for the area... 

Trevali on schedule for H1 Caribou start up

By: Henry Lazenby Zinc-focused, base metals mining company Trevali Mining on Thursday reported that its Caribou mine and mill complex project remained on track and within budget, with commissioning still expected to start in the first half of next year. The Caribou zinc/lead/silver mine and mill complex, located... 

First Quantum says Zambia royalties could discourage investment

By: Reuters Zambia's new mining royalty rate could be a "massive disincentive" for future investment if it does not come with some form of capital relief, First Quantum Minerals's president told Reuters on Thursday. President Clive Newall said the miner does not yet know the specifics of the scheme to raise... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law

By: Henry Lazenby Canada’s Barrick Gold Corp will suspend operations at its Lumwana copper mine, in Zambia’s Northwestern province, after the country enacted legislation that raised the royalty rate on openpit mining operations from 6% to 20%. TSX- and NYSE-listed Barrick, the world’s largest gold producer, said... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law
Photo by Barrick Gold
Lumwana, Zambia

Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Cashless home loans for migrant mineworkers on way – Teba
Photo by Duane Daws
Graham Herbert

Woodside and BP agree to explore Canadian waters

By: Esmarie Swanepoel Oil and gas producer Woodside has finalised an agreement with major BP over a farm-in offshore the Scotian basin, in Canada. Woodside on Thursday told shareholders that it would acquire a 20% participating interest in four exploration licenses in the Scotian basin, while BP would remain operator... 

Judge refuses Vale request to dismiss Rio Tinto lawsuit in US

By: Reuters A US federal judge on Wednesday refused to dismiss mining giant Rio Tinto's lawsuit against rival Vale, alleging it conspired with Israeli billionaire Beny Steinmetz and BSG Resources to steal the company's valuable mining rights in Guinea. US District Judge Richard Berman of Manhattan rejected... 

US District Court dismisses class action against Turquoise Hill Resources

By: Henry Lazenby A US District Court judge had on Tuesday dismissed a consolidated putative securities class action lawsuit that had been filed in the Southern District of New York against Rio Tinto subsidiary Turquoise Hill Resources and certain of its officers and directors, in December last year. Turquoise... 

Kinross completes Aurelian Resources and Fruta del Norte divestment

By: Henry Lazenby TSX- and NYSE-listed Kinross Gold on Wednesday said it had completed the divestment of all of its interest in Aurelian Resources and the Fruta del Norte project, in Ecuador, to Fortress Minerals, a member of the Lundin Group of Companies, for $240-million. Payment consisted of $150-million in... 

Teck Resources makes first shipment from restarted Pend Oreille ops

By: Henry Lazenby Diversified Canadian miner Teck Resources on Wednesday reported that it had made the first shipment of zinc and lead ore in concentrate from its restarted Pend Oreille operations, in north-eastern Washington State, across the border to its nearby Trail operations, in British Columbia, for... 

US gold output sags as low grades at Barrick, Midas mine sale weigh

By: Henry Lazenby US gold mine output during the first nine months had slid 7% year-over-year, hurt in part by lower production from the world’s two largest gold miners by output, Toronto-based Barrick Gold and Denver-headquartered Newmont Mining. In its latest ‘Mineral Industry Surveys’ report, the US Geological... 

Coeur Mining solidifies Palmajero future with Paramount Gold and Silver acquisition

By: Henry Lazenby The US’s largest primary silver producer Coeur Mining on Wednesday announced that it had agreed to buy Paramount Gold and Silver for $146-million in scrip, giving Coeur control over Paramount’s San Miguel project that covers about 121 000 ha surrounding Coeur’s Palmarejo mine, in Chihuahua,... 

Coeur Mining solidifies Palmajero future with Paramount Gold and Silver acquisition

Lower oil prices could cost Canada dearly

By: Henry Lazenby An unprecedented 40% dive in crude oil prices in the last four months would impact the Canadian economy much more severely than previously thought, a recent study by analysts at Canadian Imperial Bank of Commerce (CIBC) had found. In their report ‘No barrel of fun: What weaker crude means for... 

Lower oil prices could cost Canada dearly

Patriot Coal reports fatality at Highland mine, Kentucky

By: Henry Lazenby US coal miner Patriot Coal on Tuesday reported a fatality at its Highland mine, located near Henderson, Kentucky. Patriot said 34-year old Eli Eldridge was fatally injured on Tuesday when he was struck by a coal hauler while working underground. 

Near-term catalysts place Integra Gold on the fast track to production

By: Henry Lazenby Two significant near-term catalysts were shaping up to keep Integra Gold Corp investors intrigued and would contribute to help differentiate the Canadian project developer from its peers, who are competing for capital in a tough junior market environment. Speaking to Mining Weekly Online from... 

Near-term catalysts place Integra Gold on the fast track to production
Photo by Integra Gold Corp
Drilling at the Parallel Zone at Lamaque South, Quebec

Despite gold hedge book contracting in Q3, full-year growth expected

By: Henry Lazenby A new report released on Tuesday by Societe Generale and Thompson Reuters GFMS had found that net gold hedging had declined by a net 200 000 oz in the third quarter. This was the result of a slowdown in the volume of hedging, which meant that the delivery into and the maturity of pre-existing... 

Despite gold hedge book contracting in Q3, full-year growth expected

Windsor Gold hopeful to start washing gold from BC soil this spring

By: Henry Lazenby Pending the completion of a crowdfunded campaign to raise $1-million, that would allow it to upgrade its fleet of mining equipment, junior explorer Windsor Gold Mining and Exploration is eager to start washing placer gold from the high-grade soils of the Cariboo region, of the central interior of... 

Windsor Gold hopeful to start washing gold from BC soil this spring
Photo by Windsor Gold Mining and Exploration
Canadian Creek, British Columbia

Peninsula secures funding for Lance construction

By: Esmarie Swanepoel US-focused Peninsula Energy has signed a $69.4-million funding deal to fund the remaining construction and Stage 1 ramp-up of its Lance uranium project, in Wyoming. The fully underwritten institutional funding included a $16.8-million placement to Resource Capital Fund, with the shares priced at... 

Gold miners report new discoveries

By: Henry Lazenby Gold producers Aurico Gold and Yamana Gold on Monday reported that 2014 exploration programmes had resulted in new discoveries at Aurico’s Kemess East project, in north-central British Columbia, and Yamana’s El Penon gold/silver mine, in Chile, and Chapada, in Brazil. TSX- and NYSE-listed Aurico... 

JV partners ink IBA with First Nation for Gahcho Kué diamond project

By: Henry Lazenby Precious gems giant De Beers Canada and junior Mountain Province Diamonds (MPD) on Monday announced that they had signed an impact benefit agreement (IBA) with the Northwest Territory Métis Nation (NWTMN) for the proposed Gahcho Kué diamond mine. The IBA put in place a framework for De Beers and... 

Nevsun reports full power restored at Eritrea ops, lifts dividend

By: Henry Lazenby Horn of Arica-focused copper miner Nevsun Resources on Monday reported that a third-party power solutions provider has fixed and restored the electricity supply to the Bisha plant, in Eritrea. Nevsun last week reported that power supply issues had forced a temporary halt in concentrate... 

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