http://www.miningweekly.com
R/€ = 14.49 Change: -0.01
R/$ = 11.74 Change: -0.07
Au 1339.51 $/oz Change: -7.57
Pt 1007.00 $/oz Change: -6.11
 

North America News

Trump weighs tariffs, quotas on US steel, aluminium imports

By: Reuters     14th February 2018 US President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminium imports that he said were unfairly hurting US producers, including tariffs and quotas. Trump's comments - his strongest signal in months that he will take at least some action to... 

Iamgold lifts gold reserves 86% as exploration investments pay off

By: Henry Lazenby     14th February 2018 TSX- and NSYE-listed miner Iamgold has made significant gains to its reserve base in 2017, lifting it 86% after accounting for depletion. "In 2017, we were able to crystallise significant gains in reserve ounces within the company, carrying on from our great work in 2016 to advance our high... 

Iamgold lifts gold reserves 86% as exploration investments pay off

Mountain Province's diamond sales start the year on a high note

By: Henry Lazenby     14th February 2018 Mountain Province Diamonds' first diamond tender of the year broke all records in terms of revenue and customer activity. The TSX- and Nasdaq-listed company said the sale of 351 000 ct of rough diamonds has resulted in Mountain Province's highest revenue result to date, with total sale proceeds... 

Tahoe burnishes CSR profile in undertaking to develop indigenous peoples policy

By: Henry Lazenby     14th February 2018 Embattled Canadian miner Tahoe Resources has given itself until the end of the year to formalise a comprehensive new indigenous peoples policy as it deals with community protests in Guatemala, that has shuttered operations at its flagship Escobal silver mine for months. The policy is aimed at... 

Sherritt narrows headline loss as cost savings, higher metal prices boost bottom line

By: Henry Lazenby     14th February 2018 Canadian diversified miner Sherritt International has narrowed its headline loss for the 12 months ended December 31, as lower costs and higher commodity prices boosted the bottom line. The Toronto-based miner, which produces nickel, cobalt and oil in Cuba, and nickel and cobalt at the Ambatovy... 

Sherritt narrows headline loss as cost savings, higher metal prices boost bottom line
Photo by Sherritt International
Sherritt now owns 12% of the Ambatovy nickel/cobalt mine, in Madagascar

Tailings tailwind bolsters Pan African as rand gold price falls 

By: Martin Creamer     13th February 2018 The tailings retreatment tailwinds blowing strongly into Pan African Resources are poised to ameliorate the blow that the low rand gold price is delivering to the company's more cost-intensive underground operations. Coming in brilliantly ahead of schedule and below budget is the Eilikhulu... 

Tailings tailwind bolsters Pan African as rand gold price falls
Pan African Resources CEO Cobus Loots talks to Mining Weekly Online’s Martin Creamer on the company’s tailing’s tailwinds. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Christo Greyling.

Middle Island to exit West Africa as focus shifts to Australia project

By: Megan van Wyngaardt     13th February 2018 ASX-listed Middle Island (MDI) has signed a heads of agreement (HoA) to sell its remaining gold interests in West Africa, as its focus shifts to Western Australia. The HoA with TSX-V-listed Tajiri Resources grants that company an option to acquire a 100% interest in the Reo gold project, in... 

BHP expects $1.8bn tax charge, says US reform beneficial in long run

By: Mariaan Webb     13th February 2018 The world’s largest diversified mining group BHP has flagged a $1.8-billion income tax expense as a result of the US Tax Cuts and Jobs Act, which will lower the country’s federal corporate income tax rate. The tax expense will be treated as an exceptional item, and comprises a noncash measurement... 

BHP expects $1.8bn tax charge, says US reform beneficial in long run
The Shenzi operation in the Gulf of Mexico, offshore from Louisiana.

Harmony's headline earnings soar, eight die, Moab transferred

By: Martin Creamer     13th February 2018 Harmony Gold on Tuesday reported improved earnings, production, grade and costs in the six months to December 31, but regrettably also eight fatalities. While Mining Weekly Online was engaged in the media conference, the transfer of ownership of Moab Khotsong assets to Harmony became official,... 

Harmony's headline earnings soar, eight die, Moab transferred
Photo by Duane Daws
Harmony Gold CEO Peter Steenkamp

Global thermal coal market to grow 5% in 2018 – Noble analyst

By: Reuters     13th February 2018 The global thermal coal market will grow by about 48 million tonnes this year, 5% more than last year, the chief coal analyst at Noble Resources said on Tuesday, adding that imports to India will rise after falling in the last two years. "Current seaborne volumes require imports from swing... 

Global thermal coal market to grow 5% in 2018 – Noble analyst

Cobalt cannot be eradicated from electric car batteries – Umicore

By: Reuters     13th February 2018 Makers of electric vehicle batteries will have to keep using scarce, expensive cobalt in their products for the foreseeable future despite a push towards higher nickel compositions, materials technology company Umicore said on Monday. Manufacturers have been trying to increase the proportion of... 

Trump to meet US lawmakers to discuss trade, focus on steel and aluminium

By: Reuters     13th February 2018 US President Donald Trump will meet with a bipartisan group of lawmakers on Tuesday to discuss trade matters, as he ponders whether to takes steps to limit steel and aluminium imports seen as damaging to US businesses. A month ago the Commerce Department handed Trump the results of its... 

First Quantum lifts Cobre Panama capacity 15%; swings to FY17 loss

By: Henry Lazenby     13th February 2018 Base metals producer First Quantum Minerals will expand the capacity of its massive Cobre Panama copper project, in Panama, by 15% to 85-million tonnes a year. The Toronto-based miner on Monday also said it has sanctioned upgrades to certain areas to accommodate a further capacity expansion to... 

First Quantum lifts Cobre Panama capacity 15%; swings to FY17 loss
Photo by First Quantum Minerals
First Quantum's Kanshanshi mine, Zambia

Gold giant Barrick faces grilling after fall to bottom of pack

By: Bloomberg     12th February 2018 Barrick Gold executives will have some explaining to do when the company releases full-year results Wednesday. Even with rising gold prices and a strengthened balance sheet, the world’s largest gold producer left shareholders with the worst returns among its top North American peers last year... 

Turkey grants Centerra Gold project tax benefits

By: Mariaan Webb     12th February 2018 The Turkish Ministry of Economy has approved an investment incentive certificate for Canadian miner Centerra Gold’s Oksüt project. The certificate provides tax related advantages such as a decrease of corporate income tax rate from 20% to 2%, VAT and customs duty exemptions, and government... 

Turkey grants Centerra Gold project tax benefits
A March 2016 photo of the Öksüt site, in central Turkey.

Top mining companies' value increased by 15.5% y/y

By: Megan van Wyngaardt     12th February 2018 The 25 top global mining companies were worth an aggregate $818.2-billion at the end of January, a 15.5% increase compared with their value in the corresponding month in 2017, when the same companies held a value of $708.5-billion, research firm S&P's Global Market Intelligence said on Monday. A... 

Canada's Thor Explorations may raise up to $35m in a London listing

By: Reuters     12th February 2018 African miner Thor Explorations will most likely choose London's junior AIM market to list its shares this year in its bid to raise up to $35-million, its chief executive said on Friday. Thor, which is already listed in Toronto's TSX Venture Exchange (TSX-V), will use the proceeds of the new... 

Integra declares maiden resource at Florida Mountain

By: Henry Lazenby     9th February 2018 Development company Integra Resources has declared a maiden resource at its Florida Mountain gold/silver project, located 8.5 km east of Integra's DeLamar deposit, in southwestern Idaho. The Vancouver-based company reported a Canadian National Instrument 43-101-compliant inferred resource of... 

Cameco's 2017 headline earnings dive 59%; contracting to remain 'discretionary' in 2018

By: Henry Lazenby     9th February 2018 Long-term contracting, which is usually borne out of the requirement for power utilities to secure long-term uranium supplies, is not expected to see an uptick in 2018, as the market remains awash with too much uranium, Canada's Cameco said on Friday. In 2017, excess uranium supply continued to... 

Cameco's 2017 headline earnings dive 59%; contracting to remain 'discretionary' in 2018

Improved operational performance lifts Harmony’s H1 HEPS by up to 60%

By: Creamer Media Reporter      9th February 2018 An improved operational performance by its South African operations has likely contributed to a 40% to 60% year-on-year increase in Harmony Gold’s headline earnings per share (HEPS) for the six months ended December 31. HEPS are likely to be between 210c and 240c, compared with the 150c reported... 

Shrinking gems are a headache for the diamond industry

By: Bloomberg     9th February 2018 The diamond industry has a size problem. Instead of splashing out on a ring or necklace featuring one big, bright diamond, shoppers are increasingly choosing pieces with several, smaller gems, which are often lower quality. And selling jewellery with smaller stones has been a good way for... 

Shrinking gems are a headache for the diamond industry

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

Cameco appoints new chairperson

By: Henry Lazenby     9th February 2018 Canada's largest uranium producer Cameco has announced that board member Ian Bruce will succeed Neil McMillan as chairperson of the board immediately following the annual general meeting scheduled to be held on May 16. McMillan is retiring from the board after five years as chairperson, and 16... 

'Every area of mining ripe for innovation' – Goldcorp

By: Henry Lazenby     9th February 2018 Every conceivable area of mining is in dire need of technological innovation, major miner Goldcorp tells Mining Weekly Online in an interview. "We are not exactly the most advanced industry in the world, and we're slow in adopting new technologies. Every area is ripe for innovation," Goldcorp's... 

'Every area of mining ripe for innovation' – Goldcorp

'Canada-Mexico relationship more important than ever' – Quebec Mines Minister

By: Henry Lazenby     8th February 2018 Against the backdrop of heated North Atlantic Free Trade Agreement (Nafta) negotiations between trading partners Mexico, the US and Canada, relations between Mexico and Canada are more important than ever, Quebec Energy and Natural Resources Minister Pierre Moreau told an audience at the Mexico... 

Aluminium foil makers say US devastated by cheap China imports

By: Bloomberg     8th February 2018 US producers of aluminium foil said cheap imports from China have devastated the American industry, making it imperative for the US to impose duties on Chinese shipments. 

Ivanhoe Mines appoints new executive vice chair

By: Henry Lazenby     8th February 2018 Africa-focused explorer and project developer Ivanhoe Mines has appointed veteran mining analyst Egizio Bianchini as its new vice chairperson, effective March 12. Bianchini was most recently employed as the vice chairperson and co-head of BMO Capital Markets' Global Metals & Mining Group for 29... 

Maverix achieves Q4 production record

By: Henry Lazenby     8th February 2018 Mining royalties investment vehicle Maverix Metals has hit a new fourth-quarter production record, reporting 4 000 oz of attributable gold-equivalent output, which reflects a 40% year-on-year improvement. Total attributable output for fiscal 2017, the company's first full year of operations, is... 

Copper Mountain hits lower-end of guidance

By: Henry Lazenby     8th February 2018 British Columbia copper producer Copper Mountain has hit the lower-end of its 2017 guidance and expects a 27% year-on-year price improvement to bode well for the full-year financial results, which it plans to release on February 20. In the fourth quarter of 2017, the Copper Mountain mine's mill... 

eCobalt lifts flagship Idaho Cobalt resource 12.5%

By: Henry Lazenby     8th February 2018 Canadian clean cobalt project developer eCobalt has reported a 12.5% increase in the compliant measured and indicated resources at its Idaho Cobalt Project (ICP), in Idaho, following further geotechnical work. Compared with the previous resource model dated September 2017, total measured and... 

Aquila lifts Back Forty zinc resource 12%

By: Henry Lazenby     8th February 2018 Michigan-focused project developer Aquila Resources has announced an updated resource estimate for its flagship Back Forty gold/zinc project, lifting the combined measured and indicated zinc resource by 12%, while the contained gold resource climbed 4%. Based on information gained from 22 further... 

Colombia's Cerrejon, union reach last-minute deal to avoid strike

By: Reuters     8th February 2018 The largest union at Colombia's top coal mine Cerrejon has reached an 11th-hour salary and benefits deal with the company, avoiding a strike, the union said on Thursday. Cerrejon accounts for 37% of Colombia's coal output, the world's fifth-largest exporter of the mineral, and a strike likely... 

'Rarest white diamond ever' to be auctioned in London

By: Reuters     8th February 2018 A flawless diamond, the size of a large strawberry, is expected to fetch a world record price when it goes on sale at Sotheby's in London this month. Weighing just over 102 ct, the round, brilliant white stone is smaller than a 163-ct oval diamond sold in Hong Kong in 2013, which currently holds... 

Gold Fields expects up to 12% decrease in FY17 HEPS

By: Megan van Wyngaardt     8th February 2018 Dual-listed Gold Fields on Thursday said it expected as much as a 12% drop in its headline earnings per share (HEPS) for the 2017 financial year. HEPS would be between $0.23 to $0.26 apiece. 

Gold-backed ETFs added 27.6 t in January – WGC

By: Simone Liedtke     8th February 2018 Gold-backed exchange-traded funds (ETFs) added 27.6 t in January, the World Gold Council reported on Thursday. It added that North American funds accumulated 21.5 t of gold valued at $940-million, with 1.8% of assets under management. 

African gold miner Endeavour would rather be agile than huge

By: Bloomberg     8th February 2018 Endeavour Mining one of the fastest-growing gold producers in Africa, says bigger isn’t always better. "One of the reasons the majors have failed over the years is they’ve built such large corporate teams that the decision-making processes within those organizations is so slow," CEO Sebastien De... 

Peabody delivers best result in five years, eyes continued growth

By: Megan van Wyngaardt     8th February 2018 Reflecting a strong operational performance, significant cash generation and debt repayment, NYSE-listed coal miner Peabody on Thursday reported adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $416.2-million for the fourth quarter ended December 31, its best... 

Peabody delivers best result in five years, eyes continued growth

Big Mining Indaba thinking for 2019’s quarter-century milestone

By: Martin Creamer     8th February 2018 This year’s Investing in African Mining Indaba has just ended here and the organisers are already putting their thinking caps on to make next year’s twenty-fifth anniversary of the event a grand affair. The names Cyril Ramaphosa, Elon Musk and the top who’s who of global and African mining are... 

Big Mining Indaba thinking for 2019’s quarter-century milestone
Photo by Duane Daws
Investing in African Mining Indaba MD Alex Grose

Latest News

more

Latest Videos

more

Latest News: Africa and Europe

Latest News: Australasia

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close