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North America News

Copper industry sees green shoots of demand after trade war price slump

By: Reuters     14th November 2018 The outlook for copper demand in the mid to long term remains healthy despite current trade friction between China and the United States as a renewable energy revolution will require vast amounts of the metal, industry executives said on Wednesday. Delegates at the Asia Copper Conference in... 

Delayed gold shipments hit Serabi Q3 revenue

By: Mariaan Webb     14th November 2018 Aim- and TSX-listed Serabi Gold has reported a significant drop in third-quarter revenue as a result of the timing of gold sales, with two shipments of concentrate, valued at about $1.6-million, having been delayed to the fourth quarter. The miner, which operates the Palito Mining Complex in... 

Peregrine, NexGen and Cardinal among leaders honoured in PDAC awards

By: Creamer Media Reporter      14th November 2018 The Prospectors and Developers Association of Canada (PDAC) has announced the winners of its yearly awards, which recognise the work of international and domestic leaders in the mineral exploration and mining community. The Bill Dennis award went to Peregrine Diamonds, which discovered the... 

Pan American Silver buys Tahoe Resources

By: Mariaan Webb     14th November 2018 The world’s second-largest primary silver producer, Pan American Silver, is about to get bigger with the $1.07-billion acquisition of Tahoe Resources, which owns the troubled Escobal silver mine, in Guatemala, in addition to gold mines in Peru and Canada. Pan American Silver, which operates six... 

Pan American Silver buys Tahoe Resources
Escobal is the world's second-largest silver mine.

Congo State miner wants meeting over Katanga cobalt export halt 

By: Bloomberg     14th November 2018 The Democratic Republic of Congo’s state-owned miner sought an urgent meeting to discuss a decision by Glencore unit Katanga Mining last week to halt cobalt exports. Katanga, controlled by Glencore, announced November 6 it suspended sales from its Kamoto mine in southeast Congo after detecting... 

Congo State miner wants meeting over Katanga cobalt export halt

Electric vehicle revolution goes underground with mining trucks  

By: Bloomberg     14th November 2018 Electric vehicles are reaching global markets far and wide – and deep. Swedish mining equipment maker Epiroc is launching a new range for use underground. The manufacturer on Wednesday unveiled what it said is the largest battery-powered vehicle for below the Earth’s surface: a 42 ton-capacity... 

Leagold to restart RDM ahead of plan

By: Creamer Media Reporter      14th November 2018 The water storage facilities at the RDM mine have reached sufficient levels to restart operations, Latin America-focused Leagold said on Tuesday, announcing a planned restart date of November 20. This is about two weeks ahead of the previously anticipated schedule, CEO Neil Woodyer reported. 

Workers at Iamgold’s Rosebel down tools

By: Creamer Media Reporter      14th November 2018 Unionised employees at the Rosebel gold mine, in Suriname, have downed tools, triggering a force majeure to suspend operations at the mine. Canadian miner Iamgold said on Tuesday that the strike was in breach of a collective labour agreement (CLA) and that it would prepare legal action against... 

Hudbay sets date for special shareholders meeting

By: Creamer Media Reporter      14th November 2018 Toronto-headquartered Hudbay Minerals has set February 28 for a special meeting of the company’s shareholders to consider an advisory resolution requisitioned by Waterton Global Resource Management. Waterton, a 7% shareholder of Hudbay, in October requested changes to Hudbay’s board, citing the... 

Blackrock Gold US president Brian Morris killed

By: Mariaan Webb     14th November 2018 Brian Morris, the newly hired president of Canadian explorer Blackrock Gold’s US subsidiary, has been killed at the weekend, after stopping to assist at the scene of a car accident in Reno, Nevada. Morris also served on the board of Havilah Mining and has been hailed as a “gifted person”, with a... 

Harry Winston jeweler buys 'Pink Legacy' diamond for record $50m – Christie's

By: Reuters     14th November 2018 The "Pink Legacy", a diamond weighing just under 19 carats, fetched a record 50.375-million Swiss francs ($50-million), purchased by US-based luxury jeweller Harry Winston, Christie's said on Tuesday. Harry Winston, owned by Swatch whose CEO is Nayla Hayek, daughter of the late Swatch founder... 

Talon unveils results of initial PEA for Tamarack

By: Creamer Media Reporter      13th November 2018 TSX-listed Talon Metals has announced the results of the initial preliminary economic assessment (PEA) that it used as a basis for negotiating the right to acquire up a 60% interest in the Minnesota-based Tamarack project from Rio Tinto. The initial PEA focuses on the Tamarack North project and... 

Mountain Province foregoes dividend in weaker market

By: Mariaan Webb     13th November 2018 The shareholders of Canadian diamond miner Mountain Province have missed out on a third-quarter dividend, owing to difficult trading conditions in the lower-end segment of the diamond market. Mountain Province recently paid shareholders a maiden dividend of 4c a share, but said late on Monday... 

Mountain Province foregoes dividend in weaker market

Lithium/cobalt juniors contemplate amalgamation

By: Mariaan Webb     13th November 2018 Canadian Securities Exchange-listed exploration juniors Tantalex Resources and International Cobalt Corp (ICC) are considering amalgamating their businesses, joining their operations in the Democratic Republic of Congo (DRC) and the Idaho Cobalt belt, in the US. Cobalt- and lithium-focused... 

Lonmin's biggest union wants Sibanye deal stopped over job cuts

By: Bloomberg     13th November 2018 The biggest labor union at Lonmin has asked antitrust authorities to stop Sibanye Gold’s purchase of the struggling platinum miner if the new company intends to press ahead with more than 10 000 job cuts. Lonmin has proposed 12 459 job cuts at mines that will run out of commercial deposits in the... 

New BC coking coal mine on the cards

By: Creamer Media Reporter      13th November 2018 Publically traded Colonial Coal has announced the outcomes of a preliminary economic assessment (PEA) for a new coking coal mine, near Tumbler Ridge, north-eastern British Columbia. Although preliminary in nature, the PEA shows that the Gordon Creek project has positive economics and that it is... 

Electrifying the world no panacea for global warming, IEA says  

By: Bloomberg     13th November 2018 Driving electric cars and scrapping your natural gas-fired boiler won’t make a dent in global carbon emissions, and may even increase pollution levels. Higher electrification may lead to oil demand peaking by 2030, but any reduction in emissions from the likes of electric vehicles will be offset... 

IEA warns of damaging price spikes if weak oil investment left unchecked 

By: Terence Creamer     13th November 2018 The International Energy Agency (IEA) is cautioning of “damaging price spikes in the 2020s” if the current weak investment in new oil supply is “left unchecked”. The agency states that the average level of new conventional crude oil project approvals over the last three years is only half the... 

IEA warns of damaging price spikes if weak oil investment left unchecked

De Beers is said to make big cuts in low-end diamond prices 

By: Bloomberg     12th November 2018 De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation. The world’s biggest producer reduced prices as much as 10% for low-quality stones, said the people, who asked not to be identified because the sales are private.... 

De Beers is said to make big cuts in low-end diamond prices

TMAC’s Madrid and Boston project completes enviro assessment phase

By: Creamer Media Reporter      12th November 2018 Emerging gold producer TMAC Resources has received a project certificate from the Nunavut Impact Review Board for the Madrid and Boston project, marking the end of the environmental assessment process. The company also advised on Monday that it expected to receive the type A water licences for... 

Global platinum production to rise to 6.7Moz by 2022 – GlobalData

By: Marleny Arnoldi     12th November 2018 LSE-listed data and analytics company GlobalData expects platinum production to increase from 2019 to 2022. After a contraction of 2.1% in 2016, global platinum mine production recovered marginally by 0.8% in 2017 to 6.1-million ounces, which was mainly supported by South Africa and the US... 

Global platinum production to rise to 6.7Moz by 2022 – GlobalData

Euro Sun’s Rovina Valley licence fully approved

By: Creamer Media Reporter      12th November 2018 Romanian Prime Minister Viorica Dăncilă has signed the mining licence for the Rovina Valley project, making TSX-listed Euro Sun Mining the first non-State-owned entity to have a ratified mining licence. “The importance of this ratification cannot be overstated. Romania has now demonstrated an... 

Sandfire reports delay in Black Butte permitting process

By: Creamer Media Reporter      12th November 2018 The Black Butte permitting process has been “slightly delayed”, project developer Sandfire America reported last week, citing new environmental requirements in the US state of Montana. TSX-V-listed Sandfire America explained that the Black Butte project would be the first new copper mine in the... 

Rio Tinto completes sale of wharf to LNG Canada

By: Mariaan Webb     12th November 2018 Rio Tinto has completed the lease and sale of a wharf and land in Kitimat, British Columbia, to Royal Dutch Shell-led LNG Canada for $576-million. LNG Canada, a joint venture comprising Shell, Petronas, PetroChina, Mitsubishi Corporation and Kogas, entered into an option agreement with Rio Tinto... 

US postpones sanctions deadline on Russian tycoon's firms

By: Reuters     12th November 2018 The United States on Friday said it was postponing the enforcement of sanctions on Russian companies EN+, Rusal and Gaz PAO for nearly four weeks as their top shareholder works on a plan to cut his stakes. The US Treasury Department had given Russian tycoon Oleg Deripaska until December 12 to... 

US postpones sanctions deadline on Russian tycoon's firms
Russian tycoon Oleg Deripaska

Avrupa starts Portugal drilling as it closes first tranche of placement

By: Creamer Media Reporter      11th November 2018 Canada-listed, Europe-focused junior Avrupa Minerals has closed the first tranche of its private placement of $500 000, comprising 10-million units, allowing the company to start a drilling programme at its project in Portugal. The 2 500-m to 3 000-m drilling programme at the Alvalade copper/zinc... 

Gold Fields lowers South Deep’s FY production forecast 

By: Simone Liedtke     9th November 2018 Dual-listed Gold Fields has lowered its production guidance for the South Deep mine, in South Africa, for the full year to 154 000 oz, from the previously anticipated 244 000 oz target. The deep-level mine, which is Gold Fields’ only remaining South African operation, has long been faced with... 

Gold Fields lowers South Deep’s FY production forecast
Photo by Creamer Media
Gold Fields CEO Nick Holland

Pretium expects Brucejack expansion approvals by year-end

By: Creamer Media Reporter      9th November 2018 The approvals process for the C$25-million expansion of the Brucejack mine, in British Columbia, should be wrapped up by the end of the year, TSX- and NYSE-listed Pretium Resources said on Thursday after announcing its third-quarter financial results. The expansion will increase the average... 

Baffinland sets shipping record

By: Creamer Media Reporter      9th November 2018 Baffinland Iron Ore Mines has set a new shipping record of 5.1-million tonnes in its most recent shipping programme. From July 24 to October 17, 71 voyages were executed from the mine on Baffin Island, Nunavut, carrying an average of 71 750 t of iron-ore each over an 86-day period. 

Canadian junior unveils study results for 230 000 oz/y Sudan mine

By: Mariaan Webb     9th November 2018 TSX-V-listed junior Orca Gold has announced positive results of a feasibility study for the Block 14 gold project in Sudan, unveiling an expanded project that will produce nearly 230 000 oz/y in its first seven years of operations. The feasibility study is based on a six-million-tonne-a-year... 

Eastplats shareholder launches court petition against transactions with Union Goal

By: Tasneem Bulbulia     9th November 2018 Eastern Platinum (Eastplats) has received a petition, filed with the Supreme Court of British Columbia by 2538520 Ontario Limited, a shareholder of the company, seeking leave from the court to start a derivative action against certain of its current and former directors in relation to the... 

Superior claims it has rights to Vango’s Plutonic tenements

By: Esmarie Iannucci     9th November 2018 TSX-V-listed Superior Gold has launched legal proceedings against ASX-listed Vango Mining and its subsidiary Dampier Plutonic (DPPL) over tenements northeast of the Plutonic gold mine, in Western Australia. Superior Gold, through its own subsidiary Billabong Gold, is claiming that it held rights... 

Capstone streamlines organisational structure

By: Creamer Media Reporter      9th November 2018 Base metals miner Capstone has announced reductions to its organisational structure, including changes to its senior executive team. The changes include eliminating 35% of positions from its head office in Vancouver, which would reduce corporate general and administrative expenses by about... 

Talon has another go at Tamarack project

By: Creamer Media Reporter      8th November 2018 A year after declining an option to purchase the Tamarak project in Minnesota, US, from Rio Tinto subsidiary Kennecott Exploration Company, Canadian firm Talon Metals has now entered into a new agreement to gain a controlling stake in the nickel/copper project. The TSX-listed junior has entered... 

Albemarle profit rise beats forecasts on lithium price hikes

By: Reuters     8th November 2018 Albemarle Corp, the world's largest lithium producer, on Wednesday posted quarterly profit that rose more than expected due in part to price hikes, though unexpected production problems cut its output of the white metal. Albemarle has been striving to boost production and prices of lithium, a... 

Perkoa to make up for lower output from Caribou – Trevali

By: Mariaan Webb     8th November 2018 A stellar production quarter from the Perkoa mine, in Burkina Faso, is keeping zinc and lead miner Trevali on track to achieve its production guidance this year, offsetting lower expected output from the Caribou mine, in New Brunswick, Canada, president and CEO Mark Cruise reported on Wednesday.... 

Kinross maintains FY guidance, appoints new chair

By: Creamer Media Reporter      8th November 2018 Canadian company Kinross has maintained its production guidance for the year, despite producing fewer gold equivalent ounces (GEOs) in the third quarter, and also announced the appointment of a new chairperson to succeed John Oliver when he retires at the end of December. The... 

Northern Dynasty shares surge on Alaska voting

By: Mariaan Webb     8th November 2018 The share price of Pebble project developer Northern Dynasty surged as much as 56% on Wednesday, after Alaska voters elected Mike Dunleavy new governor. Republican Dunleavy defeated Democrat Mark Begich – who is opposed to the development of the Pebble mine – in what was originally a three-way... 

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