R/€ = 14.90 Change: -0.06
R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51

North America News

Nevsun trading lower as copper recoveries continue to lag plan

By: Henry Lazenby     12th January 2018 Canadian miner Nevsun Resources has reported strong zinc output at its flagship Bisha mine, in Eritrea, hitting the top end of its 2017 guidance. However, the news late on Wednesday was not enough to bolster investor sentiment on Thursday, as the company’s struggling copper output again... 

Ascendant on the rise as team delivers on 2017 mine turnaround strategy

By: Henry Lazenby     11th January 2018 Investors welcomed a report by TSX-listed base metals producer Ascendant Resources on Thursday that it has beaten its maiden 2017 production guidance after successfully executing a turnaround strategy for its underperforming flagship asset. The news pushed the miner’s TSX-listed stock more than... 

Ascendant on the rise as team delivers on 2017 mine turnaround strategy
Photo by Ascendant Resources
Ascendant Resources' El Mochito mine, Honduras

Alcoa locks union workers out of Canada smelter as contract expires

By: Reuters     11th January 2018 The tussle between Alcoa Corp and union workers escalated on Thursday after the aluminium producer locked them out of its smelter in Becancour, Quebec, as an old contract expired at midnight and talks on a new agreement failed. The collective agreement for 1 030 unionised workers expired at... 

Gold set to gain from retail, geopolitical risks, hedging

By: Megan van Wyngaardt     11th January 2018 The gold price is expected to increase in the year ahead, driven by stronger interest from Asian retail investors and consistent interest in global gold exchange-traded funds, according to research firm Thomson Reuters GFMS. The firm highlighted on Thursday that the efficient frontier theory... 

Gold set to gain from retail, geopolitical risks, hedging

Dell to recycle gold from e-waste for use in new motherboards, jewellery

By: Megan van Wyngaardt     11th January 2018 Technology company Dell is piloting a project to recover gold from used electronics for use in new computer motherboards and jewellery. Dell has partnered with Wistron GreenTech, which uses an environmentally responsible extraction process to break the used electronics down into individual... 

Dell to recycle gold from e-waste for use in new motherboards, jewellery

Regency eyes larger role in EV market

By: Natasha Odendaal     11th January 2018 London-listed Regency Mines plans to reposition itself to fully leverage the mineral resources to be used in the rising electric vehicle (EV) batteries and related energy technologies. The company on Thursday said in an update to shareholders that it aimed to rebrand its nickel/cobalt and related... 

Indonesia hopes to finalise Freeport contract talks by June

By: Reuters     11th January 2018 Indonesia hopes to finalise contract talks with Freeport McMoRan over the Grasberg copper mine by June, although divestment issues are still unresolved, a mining ministry official said on Thursday. Indonesia and Freeport formed a framework agreement in August to transfer the company's rights to... 

Bank of China sees commodities in full bloom amid 2018 rotation

By: Bloomberg     11th January 2018 The stage may be set for commodities to extend their stellar gains, according to Bank of China International analysts. By the fourth quarter copper will average $7 500/t and gold $1 400/oz, they wrote in a note this week, as financial drivers potentially outweigh fundamentals in 2018. In other... 

Alcoa Canada workers' union rejects contract offer

By: Reuters     11th January 2018 Unionised workers at Alcoa Corp's aluminium smelter in Becancour, Quebec rejected the company's latest contract offer. About 80% of the workers rejected the contract offer but the president of the local steelworker's union urged the company to continue negotiations. 

Cobalt and 11% yields lure risk-takers to this Canadian miner

By: Bloomberg     10th January 2018 Sherritt International Corp’s double-digit bond yields are beginning to lure investors, even as questions linger about whether the Canadian miner has unloaded enough debt and turned around its sputtering projects. The Toronto-based firm restructured its Ambatovy mining joint venture, in... 

Cobalt and 11% yields lure risk-takers to this Canadian miner
Photo by Sherritt International
Ambatovy, Madagascar

Output and exports from Colombia's Cerrejon coal mine fell in 2017

By: Reuters     10th January 2018 Production and exports at Cerrejon, Colombia's largest thermal coal mine, fell in 2017 for the third straight year as heavy rainfall affected operations, the mine's owners said on Wednesday. Output reached 31.9-million tonnes in 2017, 0.3% below the previous year. Exports totalled 31.7-million... 

eCobalt ships 3 t sample for pilot-scale testing

By: Henry Lazenby     10th January 2018 Project developer eCobalt Solutions has shipped a 3 t mineralised sample from its Idaho cobalt project (ICP) for pilot-level testing at Dundee Sustainable Technologies’ (DST’) facilities, in Quebec. The TSX-listed cobalt junior said on Wednesday that the testing will be done to further confirm... 

Barrick, Premier ink wide-ranging Nevada focused exploration, development pact

By: Henry Lazenby     10th January 2018 Gold major Barrick Gold has signed a comprehensive exploration and development agreement with Premier Gold Mines that include toll-milling and exploration earn-in options for both companies at the McCoy-Cove and Rye projects. Premier announced on Wednesday that, under the terms of the agreement,... 

Rio Tinto receives offer for aluminium smelter

By: Martin Creamer     10th January 2018 Diversified mining company Rio Tinto has received a binding offer from Liberty House to acquire Rio Tinto’s Aluminium Dunkerque smelter in northern France for $500-million. In accordance with French law, the London-listed company will launch a consultation process with employees, relevant... 

Rio Tinto receives offer for aluminium smelter
Rio Tinto Aluminium CE Alf Barrios

Lithium at depth in Namibia – Montero 

By: Martin Creamer     10th January 2018 Significant concentrations of lithium mineralisation have been established in Namibia, where Montero Mining and Exploration has completed assaying historical drilling results.  The Toronto Venture Exchange-listed company announced on Wednesday that lithium-bearing mineralisation, found to be... 

Lithium at depth in Namibia – Montero
Photo by Duane Daws
Montero CEO Dr Tony Harwood

Bacanora expands Zinnwald potential with licence for previously mined deposit

By: Mariaan Webb     10th January 2018 Lithium developer Bacanora has been granted an exploration licence of the previously mined Falkenhaim lithium deposit, in Saxony, Germany. The licence is about 5 km from Bacanora’s 50%-owned Zinnwald lithium project and has the potential to increase the life of a mine at Zinnwald, the London-... 

Congo may more than double tax on critical global cobalt supply

By: Bloomberg     10th January 2018 The Democratic Republic of Congo is preparing to more than double a tax on two-thirds of global cobalt supply, potentially increasing the cost of the critical battery metal just as the world begins to embrace electric vehicles. Congo, the world’s biggest cobalt producer, will increase the royalty... 

Gundlach says commodities set to outperform in late-cycle boom

By: Bloomberg     10th January 2018 Jeffrey Gundlach, the billionaire bond manager, said commodities may be one of the best investments this year as they surge during the late phase of the economic cycle. “I think commodities will outperform in 2018,” Gundlach said during his annual ‘Just Markets’ webcast on Tuesday, in which he... 

Gundlach says commodities set to outperform in late-cycle boom

Tharisa enters 2018 with a bang

By: Martin Creamer     10th January 2018 The market fundamentals for chrome remain sound with continued growth forecast for the global stainless steel industry, Tharisa said on Wednesday, when it reported a strong operational performance in the three months to December 31. The Johannesburg Stock Exchange-listed chrome and platinum group... 

Tharisa enters 2018 with a bang
Tharisa CEO Phoevos Pouroulis

US producers seek to block Chinese aluminium shipped via Vietnam

By: Reuters     10th January 2018 US aluminium products makers sought new trade protections against Chinese imports on Tuesday, accusing China Zhongwang Holdings Ltd and its affiliates of evading US anti-dumping and anti-subsidy duties by shipping aluminium products through Vietnam. In a filing with the US Commerce Department,... 

Codelco to amend Andina mine plan to avoid glaciers

By: Henry Lazenby     10th January 2018 The world’s largest copper producer, Chile’s State-run Codelco, has submitted an environmental impact assessment (EIA) to local authorities proposing a $250-million buildout designed to reduce the impact of glaciers at the large openpit operation. Located about 80 km northeast of Santiago in... 

Codelco to amend Andina mine plan to avoid glaciers
Photo by Codelco
Codelco's Andina mine, Chile

Workers at Colombia's Cerrejon coal mine say they could strike over wages

By: Reuters     10th January 2018 Union workers at Colombia's largest coal mine, Cerrejon, could strike if disagreements at negotiations for wages and benefits are not resolved by January 19, the main union's president said on Tuesday. A strike at the Cerrejon mine, which produces 32-million tonnes of coal a year, or about 37%... 

Osisko Metals continues aggressive BMC acquisitions course

By: Henry Lazenby     10th January 2018 Base metals explorer Osisko Metals has inked a definitive accord with the Canadian Continental Exploration Corporation (CCEC) to acquire 27 mineral claims in the Bathurst Mining Camp (BMC), the company announced on Tuesday. The individual mineral claims comprise 4 to 48 claim units totalling 320... 

Eastmain resources climb as drilling confirms historic high gold grades

By: Henry Lazenby     10th January 2018 Gold explorer Eastmain Resources has announced a new resource estimate for the past-producing Eastmain mine project, located in the Otish Mountains of Northern Quebec. Derived from historic information developed by previous operators and 26 drill holes completed by Eastmain within the deposit's... 

GoldMining enters option to enlarge Yellowknife project

By: Henry Lazenby     10th January 2018 Project consolidator GoldMining has signed an option agreement with Viking Gold Exploration to indirectly acquire the RG1, RG2 and RG3 claims that border the western boundary of the company's Nicholas Lake-Ormsby property – one of the four properties that comprise the Yellowknife gold project... 

Nemaska ups lithium game with Whabouchi feasibility bettering scope, flexibility, economics

By: Henry Lazenby     9th January 2018 Budding Canadian lithium producer Nemaska Lithium has published more bullish scenarios for its flagship Whabouchi mine and concentrator, located in the Eeyou Istchee James Bay territory, and on the hydromet plant, located in Shawinigan, both in Quebec. With more than a year’s experience at the... 

Nemaska ups lithium game with Whabouchi feasibility bettering scope, flexibility, economics
Photo by Nemaska Lithium
Nemaska Lithium's hydromet plant, located in Shawinigan, Quebec

Growth of European gold-backed ETFs outpaces US funds in 2017 – WGC

By: Reuters     9th January 2018 European gold-backed exchange-traded funds added more than double the amount of t that North American ones did in 2017, growing their assets by 13.9%, the World Gold Council (WGC) said on Tuesday. Though North America contained more than half the amount of global exchange-traded fund holdings,... 

Copper hits two-week low, zinc at highest in more than a decade

By: Reuters     9th January 2018 Copper hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. The dollar rose against the euro, making dollar-priced metals costlier for... 

Workers at Lomas Bayas mine in Chile call off strike plans

By: Reuters     9th January 2018 Unionised workers at Chile's Lomas Bayas copper mine have cancelled plans to start a strike this week after accepting a contract offer from operator Glencore, a union leader told Reuters on Monday. Workers approved the company's proposal for a 2% wage hike and a $10 750 bonus, said Pedro... 

Anaconda outlines resource estimate for Argyle discovery

By: Henry Lazenby     9th January 2018 Junior gold producer Anaconda Mining has announced a new mineral resource estimate for its Argyle gold discovery, at the Point Rousse project, in Newfoundland and Labrador. The TSX-listed miner has reported a compliant indicated resource of 38 300 oz of gold, held in 543 000 t grading 2.19 g/t... 

Nautilus secures bridge loans, inks new funding mandate

By: Henry Lazenby     9th January 2018 Marine mining hopeful Nautilus Minerals has arranged bridge financing of about $7-million from Deep Sea Mining Finance, to assist the company's immediate working capital requirements. The loans will also allow the Canadian company to make the payments required to continue with the development of... 

Lydian speaks in support of Amulsar environmental management

By: Henry Lazenby     9th January 2018 Lydian Armernia, the local subsidiary of Canadian project developer Lydian International, has defended itself in writing against several reports funded by environmental activists to derail construction of the Amulsar gold project, in Armenia, which is slated for first production during the third... 

Lydian speaks in support of Amulsar environmental management
Photo by Lydian International
December 2017 photo of the Amulsar site, in Armenia.

Miner Hudbay fortifies Constancia landholdings

By: Henry Lazenby     9th January 2018 Dual-listed base metals miner Hudbay Minerals has signed agreements to acquire a suite of mining properties located near its Constancia mine, in Peru. The TSX- and NYSE-listed company reported on Monday that its subsidiary HudBay Peru will acquire an option from a private Peruvian consortium to... 

Seabridge mobilises to drill Courageous Lake

By: Henry Lazenby     9th January 2018 TSX- and NYSE-listed precious metals explorer Seabridge Gold is mobilising crew and equipment to start an exploration campaign at its 100%-owned Courageous Lake project, located in Canada’s Northwest Territories, in February. The Toronto-based explorer plans to drill 36 holes over 7 200 m to test... 

Ivanhoe’s DRC copper mines connected to grid as hydropower plant is upgraded

By: Megan van Wyngaardt     8th January 2018 TSX-listed miner Ivanhoe Mines on Monday said its Kakula mine development site, 10 km south of Kamoa’s initial Kansoko mine site, in the Democratic Republic of Congo (DRC), started receiving power from the national grid in December. Kakula’s development is being fast-tracked, with a... 

Zinc exploration budgets expected to outperform in 2018

By: Anine Kilian     8th January 2018 While budget allocations for most commodities are expected to increase this year as the recovery in the mining industry continues, zinc will outperform owing to the strong prices seen in 2017, the latest report from S&P’s Global Market Intelligence’s Metals & Mining team states. Prompted by the... 

Zinc exploration budgets expected to outperform in 2018

Kimberley’s diamond endowment given new sparkle 

By: Martin Creamer     8th January 2018 Generations of diamond processing experience, interwoven with modern know-how, is extending the diamond endowment of the city of Kimberley. Kimberley Ekapa Mining Joint Venture (KEM-JV) has come up with a viable business model that returns a diamond sparkle to the city renowned for its... 

Kimberley’s diamond endowment given new sparkle
KEM-JV CEO Jahn Hohne

Coal dwarfs battery metals in mining deals despite war on pollution

By: Reuters     8th January 2018 Coal and iron-ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future. While the biggest deal was in Brazil, China was a top player despite planning to reduce domestic coal... 

Coal dwarfs battery metals in mining deals despite war on pollution

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