R/€ = 14.55 Change: 0.02
R/$ = 12.50 Change: 0.01
Au 1301.61 $/oz Change: -2.13
Pt 901.50 $/oz Change: -9.36

North America News

US top court takes up challenge to Virginia uranium mining ban

By: Reuters     21st May 2018 The US Supreme Court on Monday agreed to decide whether states have the right to ban uranium mining for public health reasons in a dispute over a moratorium Virginia put in place on the radioactive metal in 1982. The court will hear a bid by a Virginia Energy Resources Inc subsidiary and other... 

Kropz clinches offtake from phosphates project

By: Martin Creamer     21st May 2018 Plant nutrient minerals development company Kropz, which is developing the Elandfontein phosphates mining and processing project in the Western Cape, has secured several offtake agreements ahead of production. The cornerstone offtake agreement, for about a third of its production at market prices... 

Kropz clinches offtake from phosphates project
Photo by Creamer Media
Kropz CEO Ian Harebottle

Threat of cobalt supply shock is top risk for electric vehicles

By: Bloomberg     21st May 2018 A burgeoning risk of a supply crunch in cobalt – a key battery metal that’s more than tripled in price in two years – poses one of the biggest threats to forecasts for rising electric vehicle adoption. Major investment in mines is required to avoid price spikes that could see cost reductions for... 

Threat of cobalt supply shock is top risk for electric vehicles

Search on for 2018’s most inspirational women in mining

By: Creamer Media Reporter      21st May 2018 Nominations for this year’s inspirational women in mining have opened. Women in Mining UK’s third edition of ‘Top 100 Global Inspirational Women in Mining’ will showcase the contribution of women in the global mining industry and will seek to debunk a misconception that there is not a pipeline... 

Paringa raises A$30m for US coal mine

By: Esmarie Swanepoel     21st May 2018 Coal developer Paringa Resources has announced A$30-million capital raising to fund the development of its Poplar Grove coal mine, in the Illinois basin, Kentucky. The company on Monday said that some A$19.2-million had been raised through an institutional entitlement offer, which was priced at... 

NT looks to US for shale gas inspiration

By: Esmarie Swanepoel     21st May 2018 The Northern Territory government’s Primary Industry and Resource Minister Ken Vowles will be visiting the US as part of a government delegation to investigate global shale gas production. The territory government in April this year announced that it would lift a moratorium on fracking, after... 

US confirms list of 35 key minerals, targets domestic supply boost

By: Reuters     21st May 2018 Uranium and key rechargeable battery metals lithium and cobalt are on a final list of 35 critical minerals that the US deems essential to its economic and national security and wants to produce more of domestically. The Department of Commerce will use the list, which was published by the Interior... 

Rusal says Deripaska has not formally resigned; reiterates sanctions may hit business

By: Reuters     21st May 2018 Russia's largest aluminium producer Rusal said on Monday it has not received a formal resignation from director Oleg Deripaska, and reiterated that its business and prospects may be affected by US sanctions. Washington imposed sweeping sanctions last month on some of Russia's biggest companies... 

Gensource project development secured as formal offtake accord is signed

By: Henry Lazenby     19th May 2018 The development of Gensource Potash’s first 250 000 t/y production module at its Vanguard project, in Saskatchewan, is another step closer to realisation after the company announced on Friday that it has signed a definitive offtake agreement with a major North American agriculture industry... 

Gensource project development secured as formal offtake accord is signed

Yamana pours first gold at Cerro Moro

By: Henry Lazenby     18th May 2018 Canadian gold producer Yamana Gold announced this week that it has poured the first gold and silver doré at its Cerro Moro project, in Argentina. The operation started feeding ore to the 1 000 t/d processing plant in April, and is expected to ramp up to commercial production over the second... 

Young, bridal jewellery consumers to drive platinum demand

By: Nadine James     18th May 2018 Young, bridal and self-purchasing jewellery consumers are emerging to contribute to platinum demand growth this year, the Platinum Guild International (PGI) reports. In its ‘2017 Platinum Jewellery Business Review’, the PGI found strong consumer retail sales growth in the US, Japan and India for... 

Eritrea 'poison pill' complicates miner Lundin's aspirations – sources

By: Reuters     18th May 2018 The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources is designed to bag the Timok project in Serbia, but it had to... 

Centerra sells royalty portfolio, Kemess silver stream for $200m

By: Henry Lazenby     17th May 2018 Canadian gold miner Centerra Gold has agreed to sell its royalty portfolio and silver stream on the Kemess project, in British Columbia, to Triple Flag Mining Finance Bermuda for $200-million. The royalty sale comprises the sale of subsidiary AuRico Metals’ (AMI’s) royalty portfolio, together... 

Semafo hits 97% completion at Boungou, expects first gold by June

By: Henry Lazenby     17th May 2018 Montreal-based miner Semafo reports that construction of its $231-million Boungou mine, in Burkina Faso, is 97% complete. Commissioning of the process plant is under way, with the first ore scheduled to be introduced to the mill circuit by month-end, the West Africa-focused miner said on Thursday. 

Argonaut appeals La Colorada explosives suspension, reports hearing delay

By: Henry Lazenby     17th May 2018 The TSX-listed equity of gold producer Argonaut Gold traded lower on Thursday after it announced that it has appealed an April Mexican court decision that suspended its explosives permit for the La Colorada mine. The company has appealed the original Judiciary Court decision to temporarily... 

Tianqi Lithium picks up minority SQM stake for $4.07bn

By: Henry Lazenby     17th May 2018 Lithium producer Tianqi Lithium has secured a 24% stake in Sociedad Quimica y Minera de Chile (SQM) from crop nutrient producer and distributor Nutrien, for $4.07-billion. Nutrien's sale of its SQM holdings was required by the Competition Commission of India and Ministry of Commerce in China... 

Tianqi Lithium picks up minority SQM stake for $4.07bn

Buffalo reports mixed Q1 performance

By: Simone Liedtke     17th May 2018 Buffalo Coal’s run-of-mine (RoM) production for the quarter ended March 31 decreased by 26% year-on-year and by 9% quarter-on-quarter, as a result of lower output at the Magdalena mine, offset by marginally improved production at the Aviemore mine. Aviemore’s RoM production increased by 17%... 

Gold to maintain its significance for decades to come – WGC

By: Nadine James     17th May 2018 Having compiled and published the ‘Gold 2048: The next 30 years for Gold’ report, the World Gold Council (WGC) has concluded that gold will “continue to be recognised, appreciated and valued in the years ahead” The report, released on Thursday, looks at the next 30 years and considers ways in... 

Gold to maintain its significance for decades to come – WGC

Desert Lion sets price for flotation plant development in Namibia

By: Simone Liedtke     17th May 2018 The Phase 1 flotation plant at TSX-listed Desert Lion Energy’s Namibian lithium operations is estimated to cost about C$7-million. The plant, with a processing capacity of between 350 000 t/y and 400 000 t/y, will be used to process the fines from the historic run-of-mines stockpiles at Desert... 

Roxgold increases full-year production guidance after record Q1 output

By: Schalk Burger     17th May 2018 Burkina Faso-focused Roxgold, which operates the Yaramoko mine, produced 40 452 oz of gold during the first quarter of the year ended March 31, and increased its full-year production guidance to between 120 000 oz and 130 000 oz. The record production for the quarter was driven by improved... 

Canadian Zinc seeks to raise C$195m in debt for Prairie Creek

By: Mariaan Webb     17th May 2018 Negotiations are under way and proposal are being evaluated for potential debt financing for the Prairie Creek zinc/lead/silver project that TSX-listed Canadian Zinc is advancing in the Northwest Territories. The company, which this week named former KGHM International executive Don MacDonald... 

Rising resource nationalism seen as 'fire burning' for miners

By: Bloomberg     17th May 2018 A rising tide of resource nationalism is causing miners to rethink where they invest and creating volatility for a sector already buffeted by brewing trade wars. “A significant industry issue is resource nationalism,” Rio Tinto Group CEO Jean-Sebastien Jacques told investors at a conference in... 

Rising resource nationalism seen as 'fire burning' for miners
Rio Tinto CEO Jean-Sebastien Jacques

Kootenay sets its sights on potential high-grade silver/gold deposit in Mexico

By: Creamer Media Reporter      17th May 2018 TSX-V-listed Kootenay Silver has entered into an option agreement to acquire a 100% interest in the Copalito silver/gold project, in Mexico. The project comprises seven concessions totaling about 3 700 ha.  

IFR legacy well test reports better-than-expected results

By: Creamer Media Reporter      17th May 2018 Calgary-based oil and gas company International Frontier Resources (IFR) has reported the first production from the successful workover of a legacy well at Tonalli Energia’s Tecolutla project – a joint venture between the company and Mexican petrochemical leader Grupo IDESA. “Rates from the TEC-2... 

Leagold gets antitrust thumbs up to acquire Brio Gold

By: Henry Lazenby     17th May 2018 Gold miner Leagold Mining said on Wednesday it has received clearance from the Mexican Competition Commission to proceed with the proposed $264-million all-scrip deal to acquire Brio Gold. The clearance decision from the Comisión Federal de Competencia Económica was the last government agency... 

Trump said to mull 2015 grid emergency law to save coal plants

By: Bloomberg     16th May 2018 The Trump administration is weighing a broad array of strategies for keeping coal and nuclear power plants online as a matter of national security, with options ranging from invoking a 68-year-old law to a three-year-old one, according to a senior Energy Department official. Members of the... 

Trump said to mull 2015 grid emergency law to save coal plants

Canada March factory sales rise on metals, aerospace

By: Reuters     16th May 2018 nadian manufacturing sales increased more than expected in March on strength in primary metals, aerospace products and parts, fabricated metals and other transportation equipment, Statistics Canada reported on Wednesday. Factory sales rose 1.4%, surpassing the 1.2% gain expected by economists,... 

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Rio Tinto CEO calls for 'United Nations of the mining world'

By: Reuters     16th May 2018 Rio Tinto CEO Jean-Sebastien Jacques said resource companies needed to build "the United Nations of the mining industry" to tackle rising resource nationalism and cost inflation. Rising commodity prices typically lead to resource nationalism as they inspire resource-holding nations to demand... 

Paulson keeps stake in gold investments during Q1 – filing

By: Reuters     16th May 2018 New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management, Jana Partners and Caxton Corp all remained unexposed to the metal. The timing for Paulson appeared... 

Golden Reign inks LoI to merge with Wexford Capital’s Marlin Gold

By: Henry Lazenby     16th May 2018 The TSX-V-listed equity of Golden Reign Resources jumped nearly 32% on Tuesday after it announced that it has signed a letter of intent (LoI) to acquire private firm Wexford Capital’s Marlin Gold business. Golden Reign plans to buy all of the issued and outstanding common shares of Marlin Gold,... 

Private firm takes on Codelco for control of Chile lithium deposit

By: Reuters     15th May 2018 A foreign-backed miner has sued Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, according to a lawsuit filed in March that will be carefully watched by potential investors being courted by the country's new government. The little-known and remote... 

Katanga ramps up DRC copper, cobalt production as legal woes mount

By: Henry Lazenby     15th May 2018 Commodity giant Glencore’s majority owned and publicly traded Democratic Republic of Congo- (DRC-) focused copper/cobalt unit Katanga Mining is ramping up output after resuming production from the Phase 1 whole ore leaching project on December 11, the company reported on Tuesday. Katanga will... 

Mountain Province welcomes former De Beers CFO as new CEO

By: Henry Lazenby     15th May 2018 Canadian diamond producer Mountain Province Diamonds has appointed Stuart Brown as incoming president and CEO, effective from July 1, to replace interim president and CEO David Whittle, who took the helm following the immediate departure of former president and CEO Patrick Evans in June last... 

PTM closes $17.62m public offering

By: Simone Liedtke     15th May 2018 TSX-listed Platinum Group Metals (PTM) has closed the issuing of 117.45-million units at a price of $0.15 a unit for gross proceeds of about $17.62-million. Each unit comprises one common share and one common share purchase warrant of PTM. 

Condor expects redesigned mine site plan to facilitate permit approval

By: Creamer Media Reporter      15th May 2018 Nicaragua-focused Condor Gold is hopeful that its redesigned mine site infrastructure that avoids the resettlement of about 1 000 people will facilitate the grant of an environmental permit for the La India gold project. The company, which is dual listed on the TSX and Aim, in February... 

Sanctions to have limited impact on Iran’s mining industry – BMI

By: Creamer Media Reporter      15th May 2018 The re-imposition of US sanctions on Iran will have only a limited impact on the country’s mining and metals industry in the short term and is expected to do “little additional damage to an industry already crippled by a myriad of domestic operational challenges”. This is according to BMI... 

Interconnected Carnarvon basin will get more LNG to market – Chevron

By: Esmarie Swanepoel     15th May 2018 US oil and gas major Chevron has called for greater cooperation between industry players and the government to unlock future value in the Carnarvon basin, offshore Western Australia. Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference, in Adelaide,... 

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