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North America News

Central banks add 193 t of gold to reserves in H1

By: Marleny Arnoldi     20th September 2018 Central banks have added 193.3 t of gold to their reserves in the first six months of this year, which is an 8% increase compared with the 178.6 t bought in the same period last year, making it the strongest first half for central bank gold buying since 2015. The World Gold Council (WGC) states... 

Minergy lauds Botswana regulatory authorities

By: Martin Creamer     20th September 2018 Minergy CEO Andre Bojé is full of praise for Botswana’s regulatory authorities, who he says use legislation to assist mining investment. Minergy, which is listed on the Botswana Stock Exchange, has begun work on its maiden 390-million-tonne Masama, located in the Mmamabula coalfield, 50 km north... 

Minergy lauds Botswana regulatory authorities
Minergy CEO Andre Bojé

Deep sea robots reveal mineral riches in the abyss

By: Reuters     20th September 2018 From the safety of their research vessel, scientists are exploring one of Earth's last frontiers - the sea floor - to discover more about valuable minerals vital in the manufacture of smartphones. The scientists, from the University of Bergen in Norway, are sending robots 2 500 m down into the... 

Deep sea robots reveal mineral riches in the abyss

Father’s Day yields gold worth $38m

By: Mariaan Webb     20th September 2018 The recently discovered Father’s Day vein at RNC Minerals’ Beta Hunt mine, in Australia, has more high-grade gold than previously thought, with estimates now put at 24 000 oz, worth $38-million. The new estimate is more than double the initial estimate of 9 250 oz. 

Glencore to issue new bonds

By: Marleny Arnoldi     20th September 2018 Global diversified miner Glencore has placed a tap issue of nondilutive zero-coupon cash settled guaranteed convertible bonds for $125-million to be consolidated with its $500-million nondilutive bonds due 2025. The new bonds are to be issued on the same terms as the original bonds and, as of... 

Rio Tinto returns $3.2bn in coal disposal proceeds to shareholders

By: Marleny Arnoldi     20th September 2018 Anglo-Australian multinational mining group Rio Tinto on Thursday unveiled how it intends to return the proceeds of its recent Australian coal disposals to its shareholders. The company will launch a $3.2-billion share buyback programme, combining an off-market buyback tender targeting up to... 

Rio Tinto returns $3.2bn in coal disposal proceeds to shareholders
Rio Tinto CEO Jean-Sébastien Jacques

Wallbridge up on high-grade drilling results

By: Creamer Media Reporter      20th September 2018 Shares in Toronto-listed Wallbridge Mining soared 21% on Wednesday as the company announced positive results from its underground drilling programme and an update on the ongoing development of the 35 000-t bulk sample at the Fenelon gold property, in Quebec. Wallbridge said that, in the newly... 

Equinox buys California mine from New Gold

By: Mariaan Webb     20th September 2018 Canadian firm Equinox Gold is set to graduate to a gold producer with the $158-million acquisition of the Mesquite openpit gold mine, in the California, from New Gold. Describing the Mesquite mine as the “perfect fit”, Equinox CEO Christian Milau said on Wednesday that the mine would produce 140... 

Lundin cuts Fruta del Norte operating costs, confirms schedule

By: Mariaan Webb     20th September 2018 The Fruta del Norte gold mine that Lundin Gold is building in Ecuador is progressing on schedule, with first mine production planned in the second quarter of next year, followed by first gold output in the fourth quarter. Construction of the 340 000 oz/y gold mine in the Cordillera del Condor... 

Lundin cuts Fruta del Norte operating costs, confirms schedule
The Fruta del Norte project site in August 2018.

With copper options, China steps up challenge to London, New York rivals

By: Reuters     20th September 2018 The Shanghai Futures Exchange (ShFE) will launch copper options trading on Friday, aiming to take a slice of a $270 billion global market in one of its biggest challenges yet to London and New York rivals. The product, which follows the launch of sugar and soymeal options last year, comes as... 

CITIC completes $556m equity deal with Ivanhoe

By: Marleny Arnoldi     19th September 2018 CITIC Metal Africa Investments, which is a subsidiary of CITIC Metal, has completed a major strategic equity investment of C$723-million, or $556-million, in TSX-listed Ivanhoe Mines. The investment was initiated by CITIC Metal in June.  

Pan African’s rapid turnaround removes false notions on doing business in SA 

By: Martin Creamer     19th September 2018 South Africa was on Wednesday reaffirmed as a country where business is able to do what is required, when London- and Johannesburg-listed gold mining company Pan African Resources outlined the remarkably efficient manner in which this country’s regulatory environment facilitated the closure of a... 

Pan African’s rapid turnaround removes false notions on doing business in SA
Pan African Resources management outline the company’s low-cost repositioning to Mining Weekly Online’s Martin Creamer. Video and video editing: Darlene Creamer 19.09.2018

OceanaGold reports no operational impact from recent storms

By: Mariaan Webb     19th September 2018 Multinational OceanaGold’s Didipio operation, in the Philippines and the Haile mine, in the US, have managed to pull through the past weekend’s severe storms in the respective regions without reporting any injuries or a significant impact to production. In the Philippines, where super typhoon... 

Trevali refinances credit facility

By: Creamer Media Reporter      19th September 2018 Zinc miner Trevali has refinanced its credit facility and managed to secure an improved pricing, which should save the miner up to $5-million over a four-year term, it announced on Wednesday. Trevali entered into an amended and restated credit agreement with a syndicate of lenders for a... 

ASX-hopeful Montem to develop Canada coking coal projects

By: Creamer Media Reporter      19th September 2018 Montem Resources, a company with coking coal development projects in Canada, has announced its planned initial public offering (IPO) and listing on the ASX as it seeks to shore up funding for its brownfield projects in Alberta and British Columbia. The company has lodged its prospectus the... 

ASX-hopeful Montem to develop Canada coking coal projects
Montem's Tent Mountain project.

DRA to conduct feasibility study for Guinea graphite project

By: Schalk Burger     19th September 2018 Engineering services multinational DRA has been appointed to conduct the feasibility study for Canada-based Guinea-focused mining company SRG’s Lola graphite project, in Guinea. DRA said in a statement on Wednesday that the project will be executed through the DRA Met-Chem office, in Montreal,... 

Metminco buys Solomon Islands nickel project, to delist from Aim

By: Mariaan Webb     19th September 2018 Share trading in Metminco resumed on the ASX on Wednesday as the miner announced the acquisition of the Jejevo nickel project, in the Solomon Islands, giving it exposure to the nickel market at a time of rising demand from the battery market. Metminco will buy Sunshine Metals in a scrip... 

Metminco buys Solomon Islands nickel project, to delist from Aim

Mineral resource estimate at Avesoro’s Liberia mine now 1.1Moz of gold

By: Marleny Arnoldi     19th September 2018 TSX- and Aim-listed Avesoro Resources has increased the measured and indicated mineral resource at its New Liberty gold mine, in Liberia, to more than 1.1-million ounces of gold. The company said in a statement on Wednesday that total openpittable and underground measured and indicated mineral... 

Struggling Aldridge agrees to be bought by Virtus Mining

By: Mariaan Webb     19th September 2018 Troubled Turkey-focused junior Aldridge Minerals has agreed to be bought by Virtus Mining – a development-stage mining company in which Aldridge director Ahmet Taçyildiz will indirectly hold 70%. Virtus will acquire all the issued and outstanding common shares of Aldridge for C$0.10 in cash,... 

Velocity completes Rozino PEA, earns 70% stake

By: Mariaan Webb     19th September 2018 Eastern Europe-focused Velocity Minerals has completed a positive preliminary economic assessment (PEA) for the Rozino openpit gold project, paving the way for the TSX-V-listed company to earn its 70% in Bulgaria project. The assessment is based on an openpit mining operation, which recovers... 

Kirkland invests in Urban Barry explorer Osisko Mining

By: Creamer Media Reporter      19th September 2018 Midtier gold producer Kirkland Lake has increased its shareholding in TSX-listed Osisko Mining, through which it has exposure to the Urban Barry area of north-western Quebec. The company acquired 14 705 882 common shares of Osisko by way of private placement at C$1.70 a share, for a total cash... 

Eldorado claims €750m from Greek State over permit delays

By: Marleny Arnoldi     18th September 2018 Gold and base metals producer Eldorado Gold’s Greek subsidiary Hellas Gold has filed an application for payment with the Hellenic Republic, requesting about €750-million for damages suffered by the company, arising from delays in the issuance of permits for the Skouries project, in northern... 

Eldorado claims €750m from Greek State over permit delays

CNN-flighted advert projecting huge growth for platinum-using fuel cells

By: Martin Creamer     18th September 2018 French company Air Liquide, a member of the Davos-launched Hydrogen Council that includes platinum-mining company Anglo American, is currently flighting an advertisement on the global television network CNN, which forecasts exceptional growth for the hydrogen and fuel cell market. Quoting the... 

CNN-flighted advert projecting huge growth for platinum-using fuel cells
CNN-flighted advertisement projecting fuel cell growth.

Sibanye announces early tender results for bond notes buyback

By: Marleny Arnoldi     18th September 2018 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater announced early tender results of its offer to repurchase up to $350-million of the 6.1% notes due in June 2022 and 7.1% notes due in June 2025. The aggregate purchase price relating to the 6.1% notes amounted to $145-million and the... 

Sibanye announces early tender results for bond notes buyback
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Gold continues 'slow dance' around $1 200 despite fund exodus

By: Bloomberg     18th September 2018 Gold is sticking to a narrow trading range around $1 200/oz even after holdings in bullion-backed exchange-traded funds plunged to their lowest in a year. Bullion for immediate delivery was 0.2 percent lower at $1 198.74/oz as of 11:29 a.m. in London. In the last month, gold has traded within a... 

Top miner sees US-China trade tensions limiting global growth

By: Bloomberg     18th September 2018 Rising US-China trade tensions threaten to curb consumer purchasing power, crimp productivity growth and limit global economic expansion, according to the world’s biggest mining company. The confrontation between the world’s top two economies, “along with an increasingly unpredictable policy... 

Top miner sees US-China trade tensions limiting global growth

US gives rare earths reprieve in revised $200bn China tariff list

By: Reuters     18th September 2018 The United States did not include rare earth elements, metals used in magnets, radars and consumer electronics, from its final list of tariffs on $200-billion of Chinese goods, underscoring its reliance on China for the strategic minerals. China is the world's largest producer of rare earths and... 

Imperial exploring ‘strategic alternatives’ as it restructures

By: Mariaan Webb     18th September 2018 Troubled Vancouver-based Imperial Metals Corporation has embarked on a restructuring process, which will entail exploring “all strategic alternatives” for the company, the owner of the Red Chris, Mount Polley and Huckleberry copper and gold mines in British Columbia announced on Monday.... 

Imperial exploring ‘strategic alternatives’ as it restructures
Mount Polley Hazeltine Creek

Coeur reports fatal accident at Palmarejo

By: Creamer Media Reporter      18th September 2018 NYSE-listed Coeur Mining on Monday reported that two workers had died at its Palmarejo silver/gold mine, in Mexico, the previous week. The company explained that two underground production drillers fell into a void after the ground below them collapsed. The area was evacuated and all underground... 

Tahoe Resources' Guatemalan unit announces new round of layoffs

By: Reuters     18th September 2018 The Guatemalan unit of US miner Tahoe Resources laid off an additional 169 workers on Monday, two weeks after the country's top court kept in place a more than 14-month suspension of operations at the company's Escobal silver mine. The layoffs at Minera San Rafael, Tahoe's local unit, now total... 

Feasibility study at Lance projects indicates a viable low-pH operation

By: Marleny Arnoldi     17th September 2018 Uranium miner Peninsula Energy has completed a feasibility study for its Lance projects, in Wyoming, US, which confirmed the economic viability of transitioning to a low-pH in-situ recovery (ISR) operation. The study had the aim of demonstrating the robustness of the planned transition from... 

New Voisey’s Bay royalty calculation agreed on

By: Marleny Arnoldi     17th September 2018 TSX-listed Altius Minerals and Nasdaq-listed Royal Gold have entered into an agreement with Vale Canada to settle litigation related to the calculation of the royalty in respect of all concentrates produced from the Voisey’s Bay mine, in Newfoundland and Labrador. The Voisey’s Bay 3% net... 

RNC says Fathers Day vein delivers more high-grade gold

By: Mariaan Webb     17th September 2018 TSX-listed RNC Minerals on Monday announced that it had doubled the strike length of the high-grade coarse gold structure of the Fathers Day vein, in the Beta Hunt mine, to about 10 m and added that it would provide an update on the estimated ounces from this new Australian gold discovery later... 

Beaufield CEO resigns

By: Creamer Media Reporter      17th September 2018 Quebec- and Ontario-focused explorer Beaufield Resources has announced the resignation of its president and CEO, Ronald Stewart, who is leaving the company to “pursue other opportunities”. His resignation is effective with immediate effect, the TSX-V-listed exploration firm said on Friday. 

Barrick seeks Chinese partners for Tanzania mines – Globe

By: Bloomberg     17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

Sprott takes stake in Wallbridge

By: Mariaan Webb     17th September 2018 Precious metals investor Eric Sprott has increased its shareholding in TSX-listed Wallbridge Mining through a nonbrokered private placement raising C$3.9-million. "We are pleased to have a gold investor such as Eric Sprott as one of our large shareholders. Eric is very familiar with high-grade... 

Paramount founder Clayton Riddell dies

By: Creamer Media Reporter      17th September 2018 Founder and chairperson of Canadian natural gas resources firm Paramount Resources, Clayton Riddell, has died at 81. An icon of the Canadian oil patch, Riddell was a fervent advocate for the responsible development of Canada's natural resources and he epitomised the entrepreneurial spirit, the... 

Centerra secures short-term water sources for Mt Milligan

By: Mariaan Webb     14th September 2018 British Columbia regulators have granted TSX-listed Centerra Gold approval to pump additional water – although limited volumes – for its Mount Milligan mine. The approvals, which were received earlier than anticipated, allow Centerra to pump from groundwater wells within Mount Milligan’s... 

Centerra secures short-term water sources for Mt Milligan
Mt Milligan mine
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