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North America News

WPIC strengthens its leadership with new appointments 

By: Simone Liedtke     28th June 2018 The World Platinum Investment Council (WPIC) has appointed Sally Singer as investor development director. She will lead the WPIC’s investor development activities, servicing the existing platinum audience and identifying and expanding the potential platinum investor base, while reporting directly... 

Class action lawsuit filed against South Africa's Sibanye-Stillwater following fatalities 

By: Reuters     28th June 2018 A US law firm has filed a class action lawsuit against South African miner Sibanye-Stillwater on behalf of shareholders to recover losses suffered after a spate of deaths at its mines triggered a sharp fall in its share price. Bernstein Liebhard said in a statement the suit would deal with... 

Class action lawsuit filed against South Africa's Sibanye-Stillwater following fatalities

Gold hits over six-month low as dollar strengthens

By: Reuters     28th June 2018 Gold prices hit their lowest in more than six months on Thursday as the greenback held near one-year highs amid mounting US-China trade friction. Spot gold was down 0.2% at $1 249.71/oz, as of 0752 GMT. Earlier in the session, the bullion touched $1 248.25, its lowest since mid-December. 

Canada rejects proposed Ajax gold mine in British Columbia

By: Reuters     28th June 2018 The Canadian government said on Wednesday it had rejected the proposed Ajax openpit gold and copper mine in the Pacific province of British Columbia, citing what it said were significant adverse environmental effects. The plan to develop the site had been put forward by KGHM International, a... 

Updated Detour Lake mine plan issued, board reaffirms confidence in management

By: Mariaan Webb     28th June 2018 The board of Canadian miner Detour Gold has committed to improve the operational performance of the Detour Lake mine, in Ontario, and on Wednesday issued an updated life-of-mine (LoM) plan for its flagship operation. Chairperson Alex Morrison expressed his confidence in the company’s team, led... 

Updated Detour Lake mine plan issued, board reaffirms confidence in management
The Detour Lake mine, in Ontario.

Kirkland Lake pursues arbitration over Centerra’s royalty portfolio sale

By: Mariaan Webb     27th June 2018 Canadian gold miner Centerra Gold has completed the sale of its royalty portfolio to a subsidiary of Triple Flag Mining Finance Bermuda for $155-million in cash. The agreement comprised the sale of Centerra subsidiary AuRico Metals and 100% of the shares in its indirect wholly-owned subsidiary... 

‘Standout’ Glencore is ‘top pick’

By: Martin Creamer     27th June 2018 In a 150-page analysis of four of the world’s biggest diversified mining majors, Glencore has emerged as the top pick of financial services company Credit Suisse, which has declared the London- and Johannesburg-listed company headed by Ivan Glasenberg as the current “standout” diversified mining... 

‘Standout’ Glencore is ‘top pick’
Photo by Creamer Media
Flashback to CEO Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.

New mines accelerated at Barrick’s South Arturo 

By: Mariaan Webb     27th June 2018 Development work and construction of the Phase 1 openpit and the El Nino underground mine at Barrick Gold’s South Arturo operation, in Nevada, have been accelerated, setting the stage for some production from both operations later in 2018, the major’s joint venture (JV) partner, Premier Gold... 

New mines accelerated at Barrick’s South Arturo

WGC report a first step in understanding gold’s GHG footprint

By: Anine Kilian     27th June 2018 While there is limited published data on gold’s global carbon footprint, research by the World Gold Council (WGC) has determined that total greenhouse-gas (GHG) emissions from newly-mined gold are significantly lower than those of other major metals and mined products. “Gold is also valuable and,... 

Gold seen fighting back as dollar rebound is poised to reverse

By: Bloomberg     27th June 2018 Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management. Bullion will climb to $1 320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1 256 on Wednesday. While trade tensions haven’t yet provided... 

Westwater outlines plan for ‘made in US’ battery-graphite business

By: Mariaan Webb     27th June 2018 Nasdaq-listed Westwater Resources is planning to establish a speciality battery graphite manufacturing business in the US state of Alabama, with the Coosa graphite mine an essential cog in this wheel. Once operational in 2026, the Coosa graphite project, near Birmingham, will provide feedstock... 

Westwater outlines plan for ‘made in US’ battery-graphite business

IEA sees gas demand growth of 1.6% a year, China to become largest importer

By: Esmarie Swanepoel     27th June 2018 A new report by the International Energy Agency (IEA) has shown that global gas demand will grow at an average rate of 1.6% a year, reaching just more than 4.1-trillion cubic metres in 2023. This forecast compares with demand of 3.74-tillion cubic metres in 2017, the IEA noted in its ‘Gas 2018’... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

Copper remains globally undersupplied, but production to pick up in next decade – BMI

By: Marleny Arnoldi     27th June 2018 BMI Research expects the global copper market to experience a persistent undersupply over the coming years, as global consumption growth, driven by China's power and infrastructure sectors and increasingly by rising electric vehicle (EV) production, continues to outpace supply growth.  

Copper remains globally undersupplied, but production to pick up in next decade – BMI

Yamana’s Cerro Moro reaches commercial milestone

By: Mariaan Webb     26th June 2018 Canadian precious metals miner Yamana Gold has declared commercial production at its Cerro Moro gold and silver mine in Santa Cruz, Argentina. The mine poured its first gold and silver doré in May and subsequently ramped up to commercial production.  

Ongoing fuel cell developments kindle hope for platinum demand 

By: Martin Creamer     26th June 2018 Ongoing hydrogen fuel cell developments across the globe are kindling hope for an eventual significant increase in platinum demand. This month alone, Hyundai Auto Canada took part in the official opening of Canada's first retail hydrogen fuelling station operated by Shell and Hydrogen Technology... 

Ongoing fuel cell developments kindle hope for platinum demand
Photo by Canadian Broadcasting Corporation
Shell hydrogen GM Oliver Bishop fuels a fuel cell Hyundai in Vancouver.

Nevsun announces inferred resource for Timok Lower Zone

By: Creamer Media Reporter      26th June 2018 The Timok (Cukaru Peki) Lower Zone deposit contains 31.5-billion pounds of copper and 9.6-million ounces of gold, TSX-listed Nevsun Resources said on Tuesday, announcing an initial resource estimate for the project in Serbia. The Timok Lower Zone – a joint venture with Freeport-McMoRan – has a... 

Nickel market deficit increases, but surplus expected by 2020 – BMI

By: Marleny Arnoldi     26th June 2018 BMI Research anticipates the global refined nickel market to remain in a slight deficit this year, as global production remains subdued.  

Nickel market deficit increases, but surplus expected by 2020 – BMI

Orion Resource Partners raising $500m in royalty, streaming fund - sources

By: Reuters     26th June 2018 Orion Resource Partners is raising up to $500-million in a fund financing potash, tungsten and iron-ore mines, sources close to the matter said, meeting miners' need for funding and investors' appetite for long-term assets. Miners are turning to alternative sources of finance as the industry has... 

BHP and Vale reach deal with Brazilian prosecutors

By: Esmarie Swanepoel     26th June 2018 Mining giant BHP and its joint venture partner Vale have reached an agreement with the Brazilian government to extinguish a 20-billion reais ($5.3-billion) lawsuit relating to the 2015 dam failure at the Samarco operation, which claimed 19 lives. The agreement allows the mining companies more... 

BHP and Vale reach deal with Brazilian prosecutors

eCobalt continues with metallurgical optimisation testing of ICP ore

By: Mariaan Webb     26th June 2018 Bench-scale test work has indicated that Canadian junior eCobalt could use a rotary kiln to produce low arsenic cobalt concentrate from the ore found at its Idaho Cobalt Project (ICP), in the US. The tests, conducted by Expert Processing Solutions, have demonstrated that a 0.2% residual arsenic... 

Hawkstone revisits US lithium buy

By: Esmarie Swanepoel     26th June 2018 ASX-listed Hawkstone Mining has resurrected a transaction to acquire lithium projects in the US and Mexico. The company earlier this month withdrew from a March option over USA Lithium, which holds the Big Sandy and Lordsburg lithium projects, in Arizona and Mexico, respectively, after it failed... 

Denison CEO joins Canada Nuclear Association board

By: Creamer Media Reporter      26th June 2018 The president and CEO of uranium miner Denison Mines has been appointed to the board of the Canadian Nuclear Association (CNA). David Cates was appointed at the CNA’s annual general meeting in Saskatoon earlier in June, Denison reported on Monday. 

De Beers sells $575m of rough diamonds in latest sales cycle

By: Creamer Media Reporter      26th June 2018 De Beers sold $575-million worth of rough diamonds in the fifth sales cycle of this year. This is higher than the $554-million worth of rough diamonds sold in the fourth sales cycle of this year, as well as the $541-million worth of rough diamonds sold in the fifth sales cycle of last year. 

Gold ETFs headed for weakest month since July 2017, despite trade war jitters

By: Reuters     26th June 2018 Gold-backed exchange-traded funds (ETF) tracked by Thomson Reuters were headed for their weakest month since July 2017, as investors covered losses in equities, commodities and other markets caused by tariff disputes. Gold, typically seen as a safe store of value during times of geopolitical and... 

Orion accelerating on all fronts, looking to upscale production

By: Martin Creamer     25th June 2018 ASX- and JSE-listed Orion Minerals has raised an additional A$11-million through a share placement so that it can accelerate on all fronts. This equity capital raising funds the company beyond the bankable feasibility study (BFS) to progress its Prieska zinc/copper project, in South Africa's... 

Orion accelerating on all fronts, looking to upscale production
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Tango mobilises additional equipment for processing Oena tailings

By: Marleny Arnoldi     25th June 2018 Diversified junior miner Tango Mining has produced 95 diamonds, weighing 152.63 ct, at its Oena alluvial diamond operation, in South Africa’s Northern Cape province, for the production period ending June 14.  

Galantas reaches main gold vein at Omagh

By: Creamer Media Reporter      25th June 2018 Underground development at the Omagh gold mine, in Northern Ireland, has reached the main Kearney gold vein, TSX-V- and Aim-listed Galantas Gold reported on Monday. The vein intersection is about some 15 m below the base of the Kearney openpit. 

Sunrise illuminates Clean TeQ value

By: Esmarie Swanepoel     25th June 2018 The Sunrise cobalt/nickel project, in New South Wales, is expected to deliver some $14-billion in revenue over its first 25-year mine life, ASX- and TSX-listed Clean TeQ reported. A definitive feasibility study (DFS) found that the project would generate an average annual earnings before... 

Sunrise illuminates Clean TeQ value

Barrick’s talks with Tanzanian govt progressing

By: Marleny Arnoldi     25th June 2018 Canadian gold miner Barrick Gold Corporation says progress has been made in discussions between the company and the Tanzanian government on the drafting of definitive agreements that are necessary for the implementation of proposed framework agreement with Barrick’s 63.59% owned and independently... 

Barrick’s talks with Tanzanian govt progressing
Barrick subsidiary Acacia Mining's Bulyanhulu mine.

Equinox separates copper and gold assets

By: Creamer Media Reporter      25th June 2018 Canadian junior Equinox Gold has announced the creation of a standalone company – Solaris Copper – to advance its exploration-stage copper projects Ecuador, Mexico, Chile and Peru. Equinox will own 40% in Solaris Copper, which will not initially be listed on a stock exchange listing, with the... 

Alderon bolsters its board with Morier appointment

By: Creamer Media Reporter      25th June 2018 TSX-listed Alderon Iron Ore has appointed Rolland Morier, an executive with expertise in financial management, business strategy, aboriginal land claims and government relations, to its board of directors. Alderon expects Morier to provide support and guidance in strengthening existing... 

Paulson urges underperforming gold miner to seek a buyer

By: Bloomberg     25th June 2018 Billionaire hedge-fund manager John Paulson is among investors pushing for Canadian miner Detour Gold to put itself up for sale, citing stock losses amid managerial missteps. In a letter to the Toronto-based company’s board, Paulson & Co said directors had “failed to recruit and oversee a... 

Paulson urges underperforming gold miner to seek a buyer
John Paulson

Turkey revokes Westwater’s uranium project licences

By: Creamer Media Reporter      22nd June 2018 Nasdaq-listed Westwater Resources on Friday announced that the Turkey government had revoked the mining and exploration licences of its Temrezli and Sefaatli uranium projects. The exploration and development company said that it was investigating the legality of the development and that it had... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

By: Bloomberg     22nd June 2018 Flush with cash and armed with a knack for spotting mines producing below their potential, SSR Mining is on the hunt for more assets. “We want to continue to grow, no question,” John DeCooman, VP of strategy and business development, said in an interview Wednesday. “We’ll continue to look for... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

Semafo appoints new exploration VP

By: Anine Kilian     22nd June 2018 Richard Roy has been appointed VP of exploration at TSX-listed Semafo, effective July 1. He succeeds outgoing VP of exploration and geology and qualified person Michel Crevier, who will step down on June 30, but remain available to the corporation on a consulting basis. 

Top Dalradian shareholder supports Orion Mine takeover offer

By: Reuters     22nd June 2018 M&G Investment Management, the biggest shareholder in Dalradian Resources, said on Thursday it was supportive of a friendly cash takeover offer for Dalradian from private equity group Orion Mine Finance. The C$1.47 a share offer is fair, Jamie Horvat, director of global equities at M&G, told... 

Lithium Americas sees strong potential for US project

By: Mariaan Webb     22nd June 2018 Dual-listed Lithium Americas will rapidly develop its large-scale lithium project in northern Nevada, as it moves to become the leading source of lithium production in the US, the company said on Thursday, announcing the outcomes of a preliminary feasibility study (PFS) for the Thacker Pass... 

Lithium Americas sees strong potential for US project

Trump vows to open Minnesota's Superior National Forest to mines

By: Bloomberg     21st June 2018 President Donald Trump vowed to open large swaths of lands in Minnesota’s remote Superior National Forest to mining, a move that could benefit a copper-nickel mine being pursued by Antofagasta subsidiary Twin Metals Minnesota. Speaking at a rally in Duluth, Minnesota, on Wednesday, Trump said... 

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