http://www.miningweekly.com
R/€ = 15.71 Change: 0.00
R/$ = 13.43 Change: -0.02
Au 1231.96 $/oz Change: 8.71
Pt 829.00 $/oz Change: 16.94
 

North America News

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

Mining offers private equity opportunities despite recovery - Denham

By: Reuters     11th July 2018 Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said. Denham, which closed a new $550-million mining fund sooner than expected on Monday, has already... 

Buzzkill for US coal may come from weak yuan, not tariffs

By: Bloomberg     11th July 2018 Washington’s trade war with Beijing doesn’t pose much of a direct threat to US coal miners, since just a tiny percent of their sales go to China. But Appalachia may feel some heat from the sinking value of the Chinese yuan. A weaker Chinese currency makes it more expensive for the Asian giant to... 

Kirkland Lake’s Yee joins Eldorado as finance chief

By: Mariaan Webb     11th July 2018 Gold and base metals producer Eldorado Gold has appointed Kirkland Lake’s Philip Yee as executive VP and CFO with effect from September this year. Announcing the appointment on Tuesday, Eldorado president and CEO George Burns said Yee would strengthen the company’s leadership team. “Phil brings... 

Great Panther sticks to FY guidance despite weaker Q2 output

By: Mariaan Webb     10th July 2018 Primary silver miner Great Panther has maintained its full-year production and costs guidance, despite weaker June quarter output as a result of unusually wet weather at its Guanajuato mine complex, in Mexico. Consolidated metal production decreased by 9% year-on-year to one-million... 

Great Panther sticks to FY guidance despite weaker Q2 output

Foreign-backed miner drops lawsuit against Chile for control of lithium deposit

By: Reuters     10th July 2018 Foreign-backed miner Salar Blanco, which is 50%-owned by Lithium Power International, has dropped its lawsuit against Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, the Australian-listed smallcap announced. Lithium Power International said that... 

Orosur to issue shares for advancement of Anzá project

By: Marleny Arnoldi     10th July 2018 TSX- and Aim-listed gold producer Orosur Mining continues to advance discussions to finance the next stage of exploration at the Anzá project, in Colombia.  

Kirkland reports strong production from Australia, Canada mines

By: Marleny Arnoldi     10th July 2018 Toronto-based Kirkland Lake Gold produced 164 685 oz of gold in the second quarter ended June 30, and 312 329 oz for the first half of the year. This compares with 160 305 oz produced in the second quarter of 2017 and 147 644 oz produced in the first quarter of 2018. 

Kirkland reports strong production from Australia, Canada mines
The Macassa mine near the town of Kirkland Lake, in Ontario.

Anaconda withdraws higher offer for Maritime

By: Mariaan Webb     10th July 2018 Atlantic Canada-focused emerging miner Anaconda Mining on Tuesday rescinded its previously announced proposal to increase its offer price for explorer Maritime Resources, after the TSX-V-listed takeover target pushed through with a private placement financing. Anaconda last week announced that... 

Mining can be a major driver of development in poor countries – ICMM

By: Marleny Arnoldi     10th July 2018 The lives of people living in countries whose economies are dependent on mining have, on average, improved faster than those of people in other countries over the past 20 years, a report by the International Council of Mining and Metals (ICMM) has found.  

Mining can be a major driver of development in poor countries – ICMM
Countries that are mining dependent that were studied in ICMM's report

Jim Gowans joins New Gold board

By: Creamer Media Reporter      10th July 2018 Intermediate gold miner New Gold has recruited Arizona Mining CEO James Gowans to its board of directors with immediate effect. Gowans has more than 30 years of experience in mineral exploration, mine feasibility studies, mine construction and commissioning and the development of best practices... 

Prophecy mulls vanadium royalty company spinoff to finance Nevada project

By: Creamer Media Reporter      10th July 2018 TSX-listed Prophecy Development is considering spinning off a vanadium royalty and streamlining company to finance the construction of the Gibellini vanadium project, in Nevada. The spinning off of Vanadium Royalty Company (VRC) also provides investors with direct participation in vanadium... 

McEwen PEA supports 12-year extension of El Gallo

By: Simone Liedtke     9th July 2018 Dual-listed precious metals producer McEwen Mining on Monday filed a new preliminary economic assessment (PEA) for the extension of production from the El Gallo complex, in Mexico, with the new plan adding another 12 years to the operation’s mine life. The key outcomes of the extension, dubbed... 

Denham Capital closes Mining Fund at $558m

By: Marleny Arnoldi     9th July 2018 Resource and energy-focused global private equity firm Denham Capital has closed its first standalone mining fund, the Denham Mining Fund, at $558-million to expand its portfolio in Australia, Canada, South America and Africa.  

Platinum jewellery heading for good year – PGI 

By: Martin Creamer     9th July 2018 Significant demand growth is under way in the platinum jewellery market, which remains the second biggest ounce contributor to platinum demand at 2.5-million ounces of yearly fabrication, some 35% of total demand. “We’re seeing a lot of growth in the market. Obviously, the platinum price is... 

Platinum jewellery heading for good year – PGI
Platinum Guild International CEO Huw Daniel talks to Mining Weekly Online’s Martin Creamer on platinum jewellery promotion. Video and Video Editing. Nicholas Boyd

CITIC Metal gets internal green light to buy 19.5% stake in Ivanhoe

By: Marleny Arnoldi     9th July 2018 China State-owned investment company CITIC’s subsidiary CITIC Metal has completed its confirmatory due diligence and has received the necessary internal approvals to complete the long-term, strategic cooperation and investment agreement with TSX-listed Ivanhoe Mines.  

Alacer ups guidance for oxide plant

By: Marleny Arnoldi     9th July 2018 TSX- and ASX-listed gold producer Alacer Gold on Monday announced an increase to its 2018 oxide plant production guidance to between 110 000 oz and 130 000 oz, at a reduced all-in sustaining cost (AISC) of between $650/oz and $700/oz.  

PEA supports staged expansion of Sierra Metals’ Bolivar mine

By: Marleny Arnoldi     9th July 2018 Hot on the heels of a positive preliminary economic assessment (PEA) for the expansion of its Yauricocha base and precious metals mine, in Peru, Toronto-based Sierra Metals on Monday announced the outcomes of its PEA for the expansion at the Bolivar mine, in Mexico.  

Lundin signs Fruta del Norte offtake, closes $350m debt facility

By: Mariaan Webb     9th July 2018 The Fruta del Norte gold project, in Ecuador, has been significantly derisked from a financial standpoint with the closing of a $350-million senior debt facility and the signing of an offtake agreement for about half of its production over the first eight years of operation. A syndicate of seven... 

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

Pretium sets H2 guidance for Brucejack

By: Mariaan Webb     9th July 2018 The Brucejack gold mine has achieved steady-stage production and is set to produce between 200 000 oz and 220 000 oz of gold in the second half of the year, British Columbian miner Pretium Resources reported on Monday. The mine produced 111 340 oz of gold in the second quarter, taking production... 

Avesoro on track to meet full-year production guidance

By: Marleny Arnoldi     9th July 2018 TSX- and Aim-listed gold miner Avesoro Resources remains on track to produce 220 000 oz to 240 000 oz for the full year, with production having reached 60 231 oz in the quarter ended June 30.  

ONGC’s Iran investment plans hit by India-US dialogue

By: Ajoy K Das     9th July 2018 Indian national oil exploration and production major ONGC Limited’s protracted investment plans in Iran were receding further into the realm of uncertainty ahead of the upcoming India-US bilateral meeting. A resolution for ONGC, which has inched closer to finalising an agreement with Iran on a... 

Barrick and Shandong to take partnership to the next level

By: Mariaan Webb     9th July 2018 Canadian major Barrick Gold and Chinese miner Shandong Gold have agreed to deepen their partnership, announcing on Monday that they would evaluate joint organic mining projects, as well as acquisition opportunities and potential asset sales. The companies are partners in the Veladero mine, in... 

Barrick and Shandong to take partnership to the next level
Barrick chairperson John Thornton

Shareholders approve Canadian Zinc reorganisation

By: Simone Liedtke     9th July 2018 TSX-listed Canadian Zinc has received shareholder approval for the reorganisation of the company to complete financing for the construction of its flagship Prairie Creek project, in the Northwest Territories. The restructure, which was first announced in May and approved at an annual general... 

2 500 job cuts weren’t enough for world’s no. 2 platinum miner

By: Bloomberg     9th July 2018 Impala Platinum Holdings is facing some tough choices as the South African miner works to stem losses at aging shafts amid slumping prices for the metal. The world’s second-largest producer has already cut 2 500 jobs in the year through June and says there may be more to come. Only three of the... 

Battery-skeptic funds wait out cobalt rally seen as fleeting

By: Bloomberg     9th July 2018 Call them battery skeptics. Bets on surging demand for electric vehicles have made cobalt and lithium hot commodities, but some investors say the outlook is leaving them cold. While prices have more than doubled in the past three years on worries over shortages of the metals used in batteries,... 

BP is front-runner to buy BHP's US shale unit

By: Bloomberg     8th July 2018 BP has emerged as the front-runner to buy BHP Billiton’s onshore oil and gas operations in the US, according to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to... 

Green tech to drive industrial demand for silver

By: Nadine James     6th July 2018 The ongoing green technologies revolution, driven by the exponential growth of new energy vehicles (NEVs) and continued investment in solar photovoltaic (PV) energy, should boost global industrial demand for silver over the next decade, says non-profit industry organisation Silver Institute in a... 

Stornoway says Renard set for higher processing, carat recoveries in H2

By: Mariaan Webb     6th July 2018 The Renard diamond mine, in Quebec, has fully transitioned to underground mining, its new ore sorting plant is operational and the mine is now set for higher processing rates, grades and carat recoveries in the second half of the year. The transition from openpit operations and the completion of... 

Stornoway says Renard set for higher processing, carat recoveries in H2
The Renard operation, in Quebec.

Russia raises duties on US goods in response to trade restrictions

By: Reuters     6th July 2018 Russian Prime Minister Dmitry Medvedev has signed a decision imposing extra duties of 25% to 40% on some imports from the US in response to Washington's tariff move, the Russian economy ministry said on Friday. The extra duties will apply to imports of fiber optics, equipment for road... 

Gold-backed ETF holdings decreased by 49.3t in June – WGC

By: Creamer Media Reporter      6th July 2018 Holdings in global gold-backed exchange-traded funds (ETFs) decreased by 49.3 t to 2 434 t in June, the World Gold Council (WGC) reports. It notes that outflows were dominated by North American funds, losing $1.9-billion as a result of dollar strength and a lower gold price. Funds listed in Asia... 

Moody’s reaffirms Sibanye’s credit rating

By: Creamer Media Reporter      6th July 2018 Moody’s Investors Service has maintained JSE- and NYSE-listed Sibanye-Stillwater's long-term Ba2 corporate family rating with a stable outlook. Moody’s noted that the rating reflects Sibanye's solid business profile, underpinned by diversified metal production revenues, as well as the company’s... 

De Beers subsidiary's SYNTHdetect technology a finalist for industry innovation award

By: Creamer Media Reporter      6th July 2018 The International Institute of Diamond Grading & Research's (IIDGR's) SYNTHdetect synthetic diamond screening device has been shortlisted as a finalist for Industry Innovation of the Year in this year’s JNA Awards. SYNTHdetect, launched last year, is the first synthetic diamond screening device... 

De Beers subsidiary's SYNTHdetect technology a finalist for industry innovation award

Leading Edge plans demonstration plant at Swedish mine

By: Mariaan Webb     6th July 2018 A busy two quarters are ahead for Vancouver-based Leading Edge Materials at the dormant Swedish graphite mine that it is preparing to bring back to life. On Thursday, the company published an update of plans for its Woxna mine, detailing the strategic research activities that are under way as it... 

Leading Edge plans demonstration plant at Swedish mine

Copper's collapse tops $1 000 as Trump picks a fight with China

By: Bloomberg     6th July 2018 Copper’s flashing a powerful warning about expectations for economic growth after US President Donald Trump chose to embark on a major escalation of his administration’s global trade war, imposing tariffs on $34-billion of imports from China, which vowed to respond in kind. The metal has lost... 

Copper's collapse tops $1 000 as Trump picks a fight with China

For State of American coal, look at West Virginia's mining stats

By: Bloomberg     6th July 2018 No place tells the story of America’s coal markets better than West Virginia right now. According to US government estimates released Thursday, mining in the northern half of the Mountain State – the part known for its bounty of thermal coal, used to fuel US power plants – slid 7% in the first... 

Former coal lobbyist takes over EPA from embattled chief Pruitt

By: Bloomberg     6th July 2018 The new head of the EPA is a former Senate staffer who has worked behind the scenes to quash climate change legislation and promote coal. Andrew Wheeler, 53, now the Environmental Protection Agency’s No. 2 official, will take over Monday as acting administrator following the resignation of Scott... 

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