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North America News

Champion Iron posts a profit during Bloom Lake ramp-up

By: Mariaan Webb     13th August 2018 TSX- and ASX-listed Champion Iron has reported net income of C$20.7-million for the June quarter, which chairperson CEO Michael O’Keeffe on Monday hailed as a major achievement, considering that the Bloom Lake iron-ore mine was in the ramp-up phase during the three months under review. Bloom... 

AngloGold terminates Brazil earn-in JV with Equinox Gold

By: Mariaan Webb     13th August 2018 Aurizona greenfields concessions in Brazil, the Canada-based junior reported on Monday. AngloGold has spent about $9-million at the greenfields concession since exploration started in August 2016, completing more than 43 000 line kilometres of high-resolution aeromagnetic radiomagnetic surveying... 

Lithium-ion batteries, energy storage on strong demand growth trajectory

By: Marleny Arnoldi     13th August 2018 The automotive industry’s use of lithium-ion batteries is on track to grow seven-fold to 650 GWh by 2025, from 70 GWh in 2017; the increase in energy storage, although from a lower base, will add to this, says specialist international publisher Metal Bulletin. It adds that the electrification of... 

Lithium-ion batteries, energy storage on strong demand growth trajectory

South32 completes Arizona buy

By: Esmarie Swanepoel     13th August 2018 Diversified miner South32 has completed the $1.3-billion acquisition for the remaining 83% share in TSX-listed Arizona Mining. The Canadian firm has now been delisted from the TSX, and will cease to be a reporting issuer under the Canadian securities law. 

Mozambique's ruby mining goes from ‘wild west’ to big business

By: Bloomberg     13th August 2018 Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43 000, returned to his family 900 miles away and built a house with the proceeds. Then the money ran out. 

Mozambique's ruby mining goes from ‘wild west’ to big business

Peru President expects lithium, uranium mining laws passed in 6 months

By: Reuters     12th August 2018 Peruvian President Martin Vizcarra told Reuters his government will likely pass laws within six months needed to tap a new lithium and uranium deposit, removing a major hurdle for Canadian miner Plateau Energy Metals' proposed $800-million mine. Plateau said last month it had found 2.5-million... 

Banro gold mine trucks attacked in eastern Congo, two dead – army

By: Reuters     12th August 2018 Militiamen in eastern Congo attacked trucks belonging to Banro's Namoya gold mine, killing two people and kidnapping four others, the army said on Saturday, in at least the third attack on mine personnel since last year. The attack was carried out by militiamen from the group Mai Mai Malaika on... 

Buffalo’s future uncertain as it awaits funding proposals for Aviemore adit project

By: Creamer Media Reporter      10th August 2018 Coal producer Buffalo Coal is awaiting the submission of possible final offers from bidders interested in investing in its Aviemore mine, in KwaZulu-Natal. The mine has 18 months of life-of-mine (LOM) reserves left. To extend the LOM to 15 years, R445-million of additional capital is needed to... 

Randgold looking across the Atlantic

By: Martin Creamer     10th August 2018 African gold mining company Randgold Resources is looking across the Atlantic along the northern edge of South America, which effectively hosts the same geology as West Africa, where the London-listed company has its biggest gold-mining base. This is in addition to intensifying exploration... 

Randgold looking across the Atlantic
Randgold CEO Mark Bristow (left) with Inter Oriental Builders' Feni Matsando Samuel, who built the new hydropower plant on time and on budget with an all-Congolese team.

New Brunswick to help Arianne fund study for phosphoric acid plant

By: Creamer Media Reporter      10th August 2018 The province of New Brunswick has partnered with Arianne Phosphate –the developer of the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region – to study the feasibility of building a phosphoric acid plant in Belledune, the development-stage phosphate mining company announced this week.... 

Rio Tinto considers float of Canadian iron-ore business

By: Reuters     10th August 2018 Rio Tinto, the world's second largest listed mining company, is exploring a public listing of its Iron Ore Company of Canada business, banking and industry sources said, as it focuses on boosting revenue from its flagship Australian assets. Iron-ore, which accounts for most of Rio's profit and... 

Trevali lifts Q2 zinc output

By: Simone Liedtke     10th August 2018 TSX-listed Trevali Mining saw achieved higher zinc production in the second quarter, ended June 30, and remains on track to achieve its full-year production and cost guidance, president and CEO Dr Mark Cruise said on Friday. Production guidance for the year remains unchanged at 400-million to... 

Lucara recovers 253 special diamonds at Karowe in Q2

By: Simone Liedtke     10th August 2018 TSX-listed Lucara Diamonds’ Karowe mine, in Botswana, delivered 253 diamonds larger than 10.8 ct during the second quarter, ended June 30, representing 10.5% of the total recovered carats. This is also the highest number of specials recovered, by quarter, since production started at Karowe. 

Strong sales growth lifts Silvercorp earnings

By: Nadine James     10th August 2018 In its financial and operating results for the first quarter ended June 30, Canada-based, China-focused Silvercorp Metals on Thursday reported a net income of $10.9-million and a 25% increase in cash flow on the back of a 14% increase in sales. The company achieved sales of $45.1-million, up... 

Pretivm meets H1 guidance as Brucejack reaches steady state

By: Nadine James     10th August 2018 Gold junior Pretivm Resources has met its half-year production guidance at the Brucejack mine in north-western British Columbia, producing 187 029 oz gold and 212 935 oz silver (guidance being 150 000 oz to 200 000 oz). The strong production performance resulted in the company increasing its cash... 

Mountain Province declares maiden dividend

By: Mariaan Webb     10th August 2018 The strong performance of the Gahcho Kué diamond mine – a joint venture between De Beers Canada and Mountain Province – is benefitting the junior company’s shareholders, who will receive their first dividend from the diamond miner. The board of Mountain Province, which maintains listings on the... 

Denison to showcase Canada uranium project with release of PFS next month

By: Mariaan Webb     10th August 2018 Canada-based Denison Mines is gearing up for the release of a prefeasibility study (PFS) focusing on largest undeveloped high-grade uranium project in the eastern Athabasca basin. Following two years of exploration and project development work, the PFS for the Wheeler River project will be... 

Nevsun CEO says several companies expressed interest in miner

By: Bloomberg     10th August 2018 Nevsun Resources says companies in China, Japan and Western countries are among potential white knights that have expressed interest in buying the miner as it seeks to ward off a hostile takeover by Lundin Mining. “Several companies have indicated an interest,” Nevsun CEO Peter Kukielski said... 

Barrick says China partner for copper 'makes all kinds of sense'

By: Bloomberg     10th August 2018 Barrick Gold executive chairman John Thornton says the Canadian miner is looking at its copper assets “very seriously” to see if it makes sense to form a copper company with one or two partners, most likely from China. “The question for us on copper is, ‘Can you take the copper assets, combine... 

Barrick says China partner for copper 'makes all kinds of sense'
Barrick Gold executive chairperson John Thornton

Fibre optics punted for pipeline monitoring amid major spills in mining and other sectors

By: Nadine James     10th August 2018 Fibre optics were invented to carry huge amounts of voice data over long distances very efficiently, but advancements in optical technology have enabled the use of specialised fibre optic cables as sensors with the ability to measure parameters such as acoustic energy, temperature, strain, and... 

Fibre optics punted for pipeline monitoring amid  major spills in mining and other sectors

Miner Trevali reports worker death at Burkina Faso mine

By: Reuters     9th August 2018 Zinc miner Trevali Mining Corp said on Thursday an accident at its Perkoa Mine in Burkina Faso resulted in the death of a worker. The miner was hired by a contractor, the company said. 

Randgold's Q2 profit, output inch higher

By: Reuters     9th August 2018 African miner Randgold Resources maintained its 2018 targets on Thursday after it reported a rise in second-quarter profit and production, citing a good performance at its Kibali mine in the Democratic Republic of Congo. In the three months to June 30, production rose 9% compared to the previous... 

Randgold's Q2 profit, output inch higher
Photo by Creamer Media
Randgold Resources CEO Mark Bristow

BHP reaches $50m settlement in US lawsuit

By: Esmarie Swanepoel     9th August 2018 Mining major BHP has reached a $50-million settlement on a class action filed in the US District Court in New York regarding the Samarco dam failure, in 2015. The settlement comes with no admission of liability from the miner, and was still subject to approval by the District Court. 

BHP reaches $50m settlement in US lawsuit

SQM says to overtake Albemarle as world's top lithium producer by 2022

By: Reuters     9th August 2018 Chilean miner SQM said on Wednesday it would overtake competitor Albemarle as the world's top producer of lithium by 2022, boosting its production capacity that year to 28% of the world's total versus the US-based Albemarle's 16%. SQM Vice President Daniel Jimenez said in a presentation at a... 

SQM says to overtake Albemarle as world's top lithium producer by 2022

Teck gets approval to expand Quebrada Blanca mine in Chile

By: Reuters     9th August 2018 Teck Resources said on Wednesday it had received regulatory approval for its $4.8-billion Phase 2 project at its Quebrada Blanca copper mine in northern Chile, a sprawling expansion that will boost production from the deposit to 300 000 t/y of copper. The environmental approvals will allow the... 

Glencore closing in on oil deal, transacting with Eskom

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Glencore closing in on oil deal, transacting with Eskom
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Omagh processing plant starts operating

By: Creamer Media Reporter      8th August 2018 The recently upgraded processing plant at the Omagh gold mine has started operating, using feed from the underground development of the Kearney gold vein, Toronto- and London-listed Galantas Gold reported on Wednesday. The processing plant is expected to operate part time until production... 

ABM to acquire Cameroon, Côte d’Ivoire base metals assets

By: Nadine James     8th August 2018 Aim-listed African Battery Metals (ABM) has conditionally agreed to acquire Cobalt Blue Holdings (CBH) and Regent Resources Interests Corporation (RRIC), which hold highly prospective base metals exploration assets in Cameroon and Côte d’Ivoire, respectively. CBH holds four prospecting licences... 

B2Gold reports positive Q2, H1 operational, financial performance

By: Nadine James     8th August 2018 TSX-listed B2Gold Corporation on Wednesday reported strong operational and financial results for the second quarter and first half of 2018. The company achieved record gold production of 240 093 oz for the second quarter, a 98% year-on-year increase, and 7% above budget, owing to consistently... 

Fortuna’s Lindero project still set for start of commercial operations in Q3 2019

By: Nadine James     8th August 2018 Construction of Fortuna Silver Mines’ Lindero gold project, in Argentina, has been delayed slightly, but the Canadian miner still expects commercial operations to start during the third quarter of 2019. Fortuna president, CEO and director Jorge Ganoza on Tuesday noted that delays in the building... 

CITIC Metal another step closer to acquiring a stake in Ivanhoe

By: Marleny Arnoldi     8th August 2018 China State-owned investment company CITIC's subsidiary CITIC Metal has completed its confirmatory due diligence and has received internal approvals necessary to complete the long-term, strategic cooperation and investment agreement with Canadian miner Ivanhoe Mines. This followed a high-level... 

Taseko posts Q2 net loss, but output rises

By: Nadine James     8th August 2018 TSX-listed Taseko Mines on Tuesday reported a net loss of C$4.67-million for the quarter ended June 30, compared with net income of C$5.25-million in the second quarter of 27. Adjusted net income of C$2.34-million was also lower than the net income of C$14.31-million reported for the prior... 

Gold Fields expects to report lower H1 basic earnings a share

By: Marleny Arnoldi     8th August 2018 JSE- and NYSE-listed miner Gold Fields has advised that its basic earnings a share for the six months ended June 30 are expected to be at least 20% lower than the $0.07 reported for the six months ended June 30, 2017. The company will release its interim financial results on August 16.  

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Govt must play role in limiting large-scale retrenchment – RBPlat 

By: Martin Creamer     7th August 2018 Government must play a role in limiting large-scale retrenchment in the platinum sector by potentially incentivising companies to curb job loss. Mineral Resources Minister Gwede Mantashe has objected strongly to the retrenchment plans of Impala Platinum in particular and Royal Bafokeng Platinum... 

Govt must play role in limiting large-scale retrenchment – RBPlat
Royal Bafokeng Platinum CEO Steve Phiri interviewed by Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Dylan Slater

Global gold-backed ETF holdings fall significantly in July

By: Nadine James     7th August 2018 Holdings in global gold-backed exchange-traded funds(ETFs) and similar products fell by 39 t to 2 394 t in July, the World Gold Council (WGC) reported on Tuesday. This has pushed assets under management (AUM) in down to $94-billion from $98-billion in June. 

Copper Mountain mine’s Q2 output jumps

By: Mariaan Webb     7th August 2018 Canadian miner Copper Mountain has reported higher production at its 75%-owned namesake mine, in British Columbia, with the operation producing 20-million pounds of copper, 6 500 oz of gold and 68 400 oz of silver in the second quarter of this year. The production compares with 17.2-million... 

Permitting clock starts ticking at Anaconda’s Goldboro project

By: Mariaan Webb     7th August 2018 TSX-listed gold miner and explorer Anaconda has filed the registration document for its Goldboro project with the Nova Scotia Department of Environment, marking the start of the permitting process and getting the company one step closer to its aim of reaching the preproduction stage in 2020. The... 

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