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North America News

LME to suspend Rusal's aluminium from approved brand list

By: Reuters     11th April 2018 The London Metal Exchange will suspend Rusal's aluminium from its list of approved brands from April 17 after some members raised concerns about settling LME contracts with sanctioned companies, the exchange's chief executive told Reuters. Last week the US Treasury Department imposed sanctions... 

Collahuasi says to slash costs to under $1/lb in 2018

By: Reuters     11th April 2018 Chilean miner Collahuasi said on Tuesday it expected to slash production costs to under $1/lb of copper this year as it boosts output and uses efficiency measures to optimise operations. Collahuasi, owned by Anglo American and Glencore, is a copper mine located in northern Chile and is among the... 

Canada's Saskatchewan sees smaller fiscal deficit as spending kept tight

By: Reuters     11th April 2018 The Canadian province of Saskatchewan, home to major potash and uranium reserves, said on Tuesday it would run a smaller deficit in the current fiscal year and balance its books in 2019/20 as it keeps a tight lid on spending despite projected higher commodity prices. Saskatchewan, which has... 

Anglo American fined $21m for Brazil pipeline leaks

By: Reuters     11th April 2018 Brazil's environmental regulator Ibama fined Anglo American $21.1-million for two leaks in the pipeline transporting iron-ore from its Minas Gerais mine, to port in Rio de Janeiro state, the watchdog said on Tuesday. Ibama ordered Anglo American to halt mining operations after the leaks, which... 

Rio Tinto becomes first aluminium producer certified under new sustainability benchmark

By: Henry Lazenby     11th April 2018 Mining giant Rio Tinto has become the first company in the world to be certified under the Aluminium Stewardship Initiative (ASI) – a new benchmark for healthy environmental, social and governance practices across the aluminium lifecycle of production, use and recycling, the company announced on... 

Canadian miners report strong Q1 production

By: Henry Lazenby     11th April 2018 Several Canadian miners have started publishing their production results for the three months ended March 31, reporting a strong start to the calendar year. Toronto-based Kirkland Lake Gold has reported strong first-quarter results, with output growing 13% year-on-year to 147 644 oz of gold. 

Canadian crude increasingly attractive for US Gulf Coast refineries as market landscape changes

By: Henry Lazenby     10th April 2018 Canadian crude oil could account for up to one-third of the US Gulf Coast (USGC) region’s heavy oil refining market by 2020, a new report by market research and consultancy firm IHS Markit has found. According to the analyst’s latest research, supplies of Canadian oil sands heavy crude are... 

Canadian crude increasingly attractive for US Gulf Coast refineries as market landscape changes

Global trade politics cast shadow over Canadian M&A action – Oreninc

By: Henry Lazenby     10th April 2018 Market volatility continues to rattle the stock markets and metals commodities are alternately coming under pressure and recovering as US President Donald Trump and China stand-off over trade, or more specifically, their bilateral trade balance. It was against this backdrop that data company... 

Former South African President Kgalema Motlanthe joins Ivanhoe board

By: Henry Lazenby     10th April 2018 Former South African President Kgalema Motlanthe has joined the board of project developer Ivanhoe Mines with immediate effect, the company announced on Tuesday. In his new nonexecutive capacity, Motlanthe is expected to bring a “new dimension” to the company’s strategic evaluations, consensus... 

Former South African President Kgalema Motlanthe joins Ivanhoe board
Photo by Creamer Media
Former South African President Kgalema Motlanthe

Mountain Province, Kennady shareholders overwhelmingly vote in favour of merger

By: Henry Lazenby     10th April 2018 Overwhelming majorities of Mountain Province Diamonds and Kennady Diamonds shareholders have approved the proposed merger of the companies. TSX- and Nasdaq-listed Mountain Province said that about 93% of the shareholders present in person or represented by proxy at the shareholder meeting on... 

Lithium Americas rises on Nevada Lithium project resource growth

By: Henry Lazenby     10th April 2018 A new technical report on Lithium Americas’ 100%-owned Lithium Nevada project has increased the compliant measured and indicated resources by about 80% over the prior 2016 estimate, establishing the company as the largest and highest-grade known claystone lithium resource in the US. The National... 

PGMs industry sees crisis, Mantashe sees new dawn

By: Marleny Arnoldi     10th April 2018 Mineral Resources Minister Gwede Mantashe on Tuesday described the mining industry as one that is in self-doubt, believing that it is about to die, where suspicion and mistrust is at a high level. “I fail to understand why platinum is in a crisis,” he said, adding that mining stakeholders need to... 

PGMs industry sees crisis, Mantashe sees new dawn
Photo by Wynand van der Merwe
Gwede Mantashe

Deripaska's fall: From Davos party king to outcast in three days

By: Bloomberg     10th April 2018 At Davos this year, Oleg Deripaska threw a party with champagne, Russian folk dancers and a performance by Enrique Iglesias. Now the Russian billionaire is on an international blacklist usually reserved for terrorists and warlords. On Friday, the US aimed its toughest sanctions at Deripaska’s... 

Deripaska's fall: From Davos party king to outcast in three days
Oleg Deripaska

Vanadium batteries need 'Elon Musk moment' to kick-start market

By: Bloomberg     10th April 2018 Vanadium needs Elon Musk or another big player in the global battery market to get behind the metal in order to share centre stage with other energy-storage components such as lithium and cobalt. “When we get that moment, we’re off to the races,” Vincent Algar, MD of Australian Vanadium, said in... 

Operations restarted at Newmont's gold mines in Ghana – spokesperson

By: Reuters     10th April 2018 Operations restarted at Newmont Mining's two gold mines in Ghana on Monday, a company spokesperson said, after they were shut down on Saturday following an accident in which six construction workers were killed. Civil works on the mill expansion project at Newmont's Ahafo project, where the... 

Tahoe says La Arena fuel spill fully contained

By: Henry Lazenby     10th April 2018 Dual-listed precious metals producer Tahoe Resources reported on Monday that it had fully contained a fuel spill at the La Arena mine, in Peru. According to a company statement, a contractor overfilled a diesel storage tank on Friday evening, spilling diesel into the containment facilities. 

Lydian nixes Newmont’s Amulsar royalty for fixed payments

By: Henry Lazenby     10th April 2018 The TSX-quoted stock of Armenia-focused project developer Lydian International jumped 9.52% on Monday following the company's announcement that it has terminated a royalty agreement with former joint venture partner Newmont Mining, replacing it with a fixed payment option. Toronto-based Lydian... 

US to lead global crude production as soon as 2023 – IEA

By: Henry Lazenby     10th April 2018 US shale production growth is expected to lift the jurisdiction to being the top oil producer globally by 2023, a report from the International Energy Agency (IEA) has shown. According to the IEA, US output will expand by 3.7-million barrels a day, more than half of the world’s expected... 

ATAC, Barrick spending to top C$13m at Yukon-based Rackla gold project

By: Henry Lazenby     9th April 2018 In what is anticipated to be one of the largest exploration programmes in the Yukon this year, partners ATAC Resources and Barrick Gold have announced a C$13-million exploration budget for the Racklan gold project, in the Yukon Territory of North-West Canada. Under an April 2017 earn-in... 

Kinder Morgan suspends Trans Mountain Expansion project as political firestorm heats up

By: Henry Lazenby     9th April 2018 Pipeline operator Kinder Morgan Canada (KMC) has placed non-essential activities and related spending to twin an existing crude oil pipeline between Alberta and British Columbia on ice, as opposition to the project in British Columbia intensifies. The C$7.4-billion project, which was previously... 

Kinder Morgan suspends Trans Mountain Expansion project as political firestorm heats up

Rio Tinto discloses details of the $5.1bn tax payments

By: Anine Kilian     9th April 2018 Diversified miner Rio Tinto on Tuesday revealed that its tax payments and royalties paid had increased from $4-billion in 2016, to more than $5.1-billion in 2017, with the majority of taxes paid in Australia. In its latest voluntary taxes paid report, published on Tuesday, Rio Tinto detailed that... 

Rio Tinto stands to win from Rusal sanctions, US consumers to lose

By: Reuters     9th April 2018 Rio Tinto will be among the biggest winners from the US sanctions imposed on Russian aluminium giant United Company Rusal as the penalties further shake up the global metals trade and boost costs for US consumers, industry sources said on Monday. The United States on Friday imposed the sanctions... 

Rio Tinto stands to win from Rusal sanctions, US consumers to lose
Rio Tinto has aluminium operations in Canada and Australia, which are exempted from the section 232 tariffs.

Blanket Q1 output on par with Caledonia’s 2018 target

By: Marleny Arnoldi     9th April 2018 Southern Africa-focused exploration and development company Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, produced about 12 924 oz of gold for the quarter ended March 31.  

Troy breaks more records at Karouni

By: Esmarie Swanepoel     9th April 2018 Gold miner Troy Resources has reported record production at its Karouni operations, in Guyana, during the three months to March. The company told shareholders on Monday that the mine produced a record 21 703 oz during the March quarter, which was some 35% higher than the December quarter... 

Lithium glut fears tempered by optimism over surging demand

By: Reuters     9th April 2018 Warnings of a lithium glut may be premature. For one thing, doomsayers assume all the lithium in brine or hard rock deposits will get processed, but that’s not the case, said Jay Roberge, partner and managing director at Tehama Capital Corporation, a Vancouver-based merchant bank. 

Deripaska's Rusal and aluminium market roiled by US sanctions

By: Bloomberg     9th April 2018 Russian aluminum maker United Co. Rusal’s stock plunged about 40%, while prices of the metal surged, after US sanctions on the company and its billionaire owner Oleg Deripaska prompted the producer to warn of potential debt defaults and “materially adverse” consequences. The stock fell to... 

Deripaska's Rusal and aluminium market roiled by US sanctions

Embattled EPA chief's calendar shows industry had his ear

By: Reuters     9th April 2018 US Environmental Protection Agency administrator Scott Pruitt held 25-times more meetings with industry representatives than environmental advocates during his first seven months in office, according to a Reuters analysis of his schedule, reflecting the agency's pro-business approach under his... 

Fluor tenders work to Grana y Montero for Quellaveco Peru mine

By: Reuters     9th April 2018 US-based construction firm Fluor Corp subcontracted earth moving work on the Quellaveco copper mine, in Peru, to local company Grana y Montero, in a sign the stalled $5-billion project could be reactivated. Grana said in a statement late on Friday it had won a tender from Fluor for $53.9-million... 

Orocobre Q3 production woes force 10% lower guidance

By: Henry Lazenby     6th April 2018 Argentinian lithium producer Orocobre lost more than 8% on the TSX on Thursday after reporting lower-than-expected lithium production in the fiscal third quarter from the Olaroz mine, as weather issues interfered with evaporation rates, which caused management to lower guidance by 10%. Orocobre... 

Orocobre Q3 production woes force 10% lower guidance

Sibanye-Stillwater refinances, increases US dollar revolving credit facility

By: Marleny Arnoldi     6th April 2018 Precious metals miner Sibanye-Stillwater has refinanced its existing $350-million US dollar revolving credit facility (RCF) on improved terms.  

Sibanye-Stillwater refinances, increases US dollar revolving credit facility
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Dormant Swedish mine comes alive in rush for car batteries

By: Bloomberg     6th April 2018 The global race to develop batteries for electric cars is reaching deep into the pine forests of central Sweden, where a dormant graphite mine is getting a new lease on life. Woxna, situated about 259 km north of Stockholm, was mothballed in 2001 amid a slump in prices. Now, a Canadian company... 

Dormant Swedish mine comes alive in rush for car batteries
Photo by Leading Edge Materials
The Woxna mine, in Sweden.

Moody’s downgrades Eldorado credit rating

By: Henry Lazenby     6th April 2018 Moody's Investors Service has downgraded Canadian miner Eldorado Gold’s corporate family credit to B2 from B1, citing high geopolitical risks, limited mine diversity, and execution risks related to its material development projects. "The downgrade of Eldorado's rating reflects the high execution... 

Stronger gold price lifts global ETF inflows – WGC

By: Henry Lazenby     6th April 2018 Global gold-backed exchange-traded funds (ETFs) added 22.5 t of gold during March, increasing their holdings to 2 415 t valued at $102.8-billion, data provided by the World Gold Council (WGC) on Thursday shows. While the price of gold finished the month relatively flat $1 325/oz, a significant... 

Stronger gold price lifts global ETF inflows – WGC

China seeks WTO dispute resolution with US over steel, aluminum tariffs

By: Reuters     5th April 2018 China's commerce ministry said on Thursday it has initiated a World Trade Organization (WTO) dispute resolution procedure over US tariffs on its import of steel and aluminum. The move follows a back and forth dispute between the two countries over free trade, that has escalated from an... 

Gold price seen 'moving north' as world fails to replace output

By: Bloomberg     5th April 2018 Bullion prices are set to rise because there’s been a lack of exploration and the global industry isn’t replacing the reserves it’s been mining, according to Stephen Letwin, CEO at Iamgold. “Gold has a much higher probability of moving north as opposed to south,” Letwin said in an interview at... 

BHP quits World Coal Association over differences in climate policies

By: Esmarie Swanepoel     5th April 2018 Mining major BHP has taken the decision to discontinue its membership of the World Coal Association (WCA), citing “material differences” in their respective climate change policies. The diversified giant also said on Thursday that the decision was also taken in light of the “narrow range of... 

BHP quits World Coal Association over differences in climate policies

Matador buys Canadian gold project

By: Esmarie Swanepoel     5th April 2018 ASX-listed junior Matador Mining has announced plans to acquire an 80% interest in the Cape Ray gold project, in Newfoundland. The project is estimated to contain more than 500 000 oz of gold within its 100 km2 of secured tenure. 

Bacanora makes progress on German Zinnwald lithium project feasibility study

By: Henry Lazenby     5th April 2018 Project developer Bacanora Lithium is making good progress on its feasibility study for the Zinnwald lithium project, located in Germany’s Southern Saxony region, the company reported on Wednesday. The company, which has now successfully re-domiciled from Canada to London, in the UK, and moved... 

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