R/€ = 14.84 Change: 0.04
R/$ = 12.09 Change: 0.01
Au 1333.95 $/oz Change: -7.15
Pt 926.00 $/oz Change: -5.99

North America News

Zinc output climbs, but uncertainty disrupts processing talks

By: Reuters     29th March 2018 Surging zinc mine output will eventually lift annual charges for treating concentrates, but uncertain timing has led to a stand-off in talks between mines and smelters. No deal has been achieved yet over benchmark processing terms – fees miners pay smelters to turn concentrate into metal – after... 

Glencore signs $9.09bn loan refinancing

By: Reuters     29th March 2018 Global diversified natural resource company Glencore has signed $9.09-billion of loans to refinance its existing short-term revolving credit facilities, the company said on Thursday. The facilities replace Glencore’s existing $7.34-billion one-year revolving credit facility agreed in May 2017. 

Ex-Microsoft manager lands Responsible Cobalt Initiative role

By: Reuters     29th March 2018 A former manager for Microsoft Corp in China has been named as the first executive secretary of the Responsible Cobalt Initiative (RCI), which works to address social and environmental risks in the cobalt supply chain. Christina Feng, who managed the US tech giant's programme for the responsible... 

Serabi announces $8m raising for Brazil projects

By: Creamer Media Reporter      29th March 2018 Aim- and TSX-listed Serabi Gold has announced an $8-million raising capital raising, which alongside the previously announced $15-million that was raised from Greenstone, will underpin accelerated development at its projects in Brazil. The $8-million placing of new shares at 3.6p each is being... 

Gold forges best run since 2011 as stars align for bullion bulls

By: Bloomberg     29th March 2018 Gold bulls are finding 2018 offers plenty of reasons to be cheerful. Bullion’s wrapping up a third quarterly gain, a feat not seen since 2011; fund holdings are at the highest in a half-decade; and haven demand may get a boost with foreign-policy hawks in the ascendant in Washington. 

Brazilian miner Vale to discuss new dividend policy - Valor

By: Reuters     28th March 2018 Board members of Brazilian miner Vale will discuss in a meeting on Thursday a new dividend policy, according to a Wednesday report by newspaper Valor Econômico. Under the new policy, Vale would calculate dividend payouts based on its earnings before interest, tax, depreciation and amortisation,... 

Private capital carves out mining niche with specialist focus

By: Henry Lazenby     28th March 2018 Generalist investment funds are having a hard time keeping up with the success private capital lenders have enjoyed in the mining space in recent quarters, with private equity firms carving out their niche by being specialists at their game. The generalist funds are underwriting real estate and... 

Private capital carves out mining niche with specialist focus

Barrick founder Peter Munk passes at 90

By: Henry Lazenby     28th March 2018 Canadian entrepreneur and philanthropist Peter Munk passed away peacefully in Toronto on Wednesday, miner Barrick Gold said in an announcement. Munk will best be remembered in mining circles for founding Barrick as a single-asset company in 1983 and building it into the world’s largest bullion... 

Barrick founder Peter Munk passes at 90
Photo by Reuters
The late Barrick Gold founder and chairperson emeritus Peter Munk

Woodlawn on track - Heron

By: Esmarie Swanepoel     28th March 2018 The Woodlawn zinc/copper project, in New South Wales, is on track to start commissioning by year-end, ASX- and TSX-listed Heron Resources said. The company said on Wednesday that significant progress has been made at the site to date, with the start of process plant foundations, and with the... 

Global gold investment seen rising for 5th year in 2018 – CPM

By: Reuters     28th March 2018 Bullion investors, miners and makers of coins will help drive the fifth straight annual increase in total global gold investment in 2018, CPM Group said in its Gold Yearbook 2018 on Tuesday, citing geopolitical tensions and fears that the bubbling US economic expansion will end in a 2019... 

Global gold investment seen rising for 5th year in 2018 – CPM

Husky Energy faces ten charges over 2016 oil spill

By: Henry Lazenby     28th March 2018 A 19-month investigation into an oil spill into the North Saskatchewan River has resulted in ten charges being filed against Husky Energy and Husky Oil Operations, Environment and Climate Change Canada announced on Tuesday. The charges stem from an incident in July 2016, when about 1 570 bbl of... 

Profit at China's Jinchuan International surges on higher cobalt, copper prices

By: Reuters     28th March 2018 Chinese miner and metals trader Jinchuan Group International Resources said on Tuesday its 2017 net profit was almost five times bigger than a year earlier due to higher cobalt and copper prices. Jinchuan, which operates the Ruashi copper and cobalt mine, in the Democratic Republic of Congo, and... 

Canada to target smuggling of steel intended to dodge US tariffs

By: Reuters     28th March 2018 Canada will act to prevent the smuggling of cheap steel and aluminum into the North American market to avoid new US tariffs on the metals, Prime Minister Justin Trudeau said on Tuesday. Trudeau said this month he was aware of concerns that countries facing the tariffs could try to ship supplies... 

No major change in Mexico oil output expected before 2025 – official

By: Reuters     28th March 2018 Mexico's government does not expect a 'significant' change in oil production before 2025, deputy energy minister Aldo Flores said on Tuesday. Mexico, which produces around 1.9-million barrels per day of crude, has been pushing back the date by when it expects to reverse a slide in output. Crude... 

Hydro to start shutdown of Brazil alumina lines by mid-April – sources

By: Reuters     28th March 2018 The Alunorte refinery in northern Brazil, owned by Norway's Norsk Hydro, will start shutting down half of its alumina capacity in the next two weeks to preserve equipment, two people familiar with the matter said on Tuesday. The world's largest alumina refinery, situated in Brazil's Amazon... 

Orano lifts Midwest project resources

By: Henry Lazenby     28th March 2018 Uranium producer Orano Canada (formerly Areva Canada Resources) has reported a 287% increase in the compliant inferred resource at its Midwest project, located in the eastern Athabasca basin, northern Saskatchewan, while the indicated resource grew by 4.2%. The Midwest project is now estimated to... 

Gensource inks second offtake accord with potash major

By: Henry Lazenby     27th March 2018 Potash project developer Gensource Potash has secured a second potash offtake deal in a week with a hitherto unnamed senior North American agriculture industry player. Saskatoon, Saskatchewan-based Gensource said on Tuesday that the nonbinding memorandum of understanding (MoU) contemplates the... 

Champion to send off first shipment of up to 200 000 t high-grade iron-ore

By: Henry Lazenby     27th March 2018 Canadian miner Champion Iron Ore announced on Tuesday that preparations for the first shipment of high-grade iron-ore from subsidiary Quebec Iron Ore’s (QIO’s) Bloom Lake mine, in Quebec, are under way, following the arrival of the MV Magnus Oldendorff at the Port of Sept-Îles. The Montreal,... 

North American Palladium makes PGM discovery at Sunday Lake

By: Henry Lazenby     27th March 2018 Winter exploration results from the Sunday Lake platinum-group metals (PGM) deposit, 25 km northeast of Thunder Bay, Ontario, has led to the discovery of new PGM mineralisation in the central part of the property, with extensions to the east, that open up a much larger area for exploration, North... 

Atalaya improves financial performance on production and price gains

By: Mariaan Webb     27th March 2018 Dual-listed copper miner Atalaya Mining has posted a 60% jump in net income to €18.2-million in 2017, thanks to strong revenue growth on the back of higher production from Proyetco Riotinto, in Spain, and increasing copper prices. Revenue for the 12-month period amounted to €160.5-million,... 

Atalaya improves financial performance on production and price gains
Proyecto Riotinto

Trump's trade war is derailing copper rally that he kickstarted

By: Bloomberg     27th March 2018 President Donald Trump’s pro-business agenda helped start the copper rally, and now he is upending it with protectionist trade policies that threaten to derail a boom in the world’s economies. Copper prices are poised for their first quarterly drop since before Trump’s shock election victory... 

Trump's trade war is derailing copper rally that he kickstarted

Shareholders approve Altona/Copper Mountain deal

By: Esmarie Swanepoel     27th March 2018 The shareholders of ASX-listed Altona Mining and TSX-listed Copper Mountain Mining Corporation have approved a merger between the two companies. Copper Mountain in November of last year made a A$93-million play for Altona, with the combination of the two companies resulting in a mid-sized... 

Kinross Gold settles US charges related to bribe prevention in Africa

By: Reuters     27th March 2018 The US Securities and Exchange Commission said Canadian mining company Kinross Gold Corp agreed to pay $950 000 to settle civil charges that it failed to ensure its payments in Africa were not being used to bribe government officials. The SEC said in a statement Monday the company did little to... 

Half of all US coal plants would lose money without regulation

By: Bloomberg     27th March 2018 It’s long been clear that US coal plants are struggling. A study released Monday shows how much – concluding that barely half earned enough revenue last year to cover their operating expenses. Power grids may face “massive” upheaval as more uneconomic plants close, according to the report by... 

Gahcho Kué flexes cash flow muscle

By: Henry Lazenby     27th March 2018 The Gahcho Kué diamond mine, in Canada’s Northwest Territories, has demonstrated strong cash flow generating capabilities over the operation’s first two commercially active financial quarters. Toronto-based miner Mountain Province Diamonds on Monday stressed that 2017 was a milestone year for the... 

Workers at Chile's Los Pelambres mine reach deal on labour agreement – union

By: Reuters     27th March 2018 Workers at Antofagasta's Los Pelambres copper mine, in Chile, reached agreement on a new labour contract, defusing the risk of a strike, the union said on Monday. Workers in the mine's largest union had last week rejected an offer for a new labor contract, triggering a period of government... 

Antero Resources eyes ways to cut sand costs for fracking

By: Reuters     27th March 2018 US natural gas producer Antero Resources Corp said on Monday it is eyeing options to mine its own sand for fracking to offset recent price increases. The company, which produces in the Marcellus and Utica shale formations, has seen its sand cost rise markedly in the past year, Glen Warren,... 

Stornoway swings to FY loss

By: Henry Lazenby     26th March 2018 Diamond producer Stornoway Diamond Corp has swung to a net loss of $114.6-million for 2017, compared with net income of $19.6-million in 2016. Longueuil, Quebec-based Stornoway said its full-year results reflected a lower diamond price environment than originally forecast. 

Stornoway swings to FY loss

Sprott-backed blockchain platform to give gold digital edge  

By: Bloomberg     26th March 2018 Cryptocurrencies and the blockchain were thought by some to replace gold as the ultimate haven against financial calamity. Now the gold market is using blockchain to kick back at crypto and bring precious metals into the digital age. TradeWind Markets, a technology provider backed by Sprott,... 

Centerra-funded EM survey starts at Erris’ Käringberget

By: Creamer Media Reporter      26th March 2018 Europe-focused explorer Erris Resources reported on Monday that a 20 km electromagnetic (EM) ground geophysical survey has started over previously identified targets at the Käringberget gold project, in northern Sweden. The survey, which is funded by joint venture partner Centerra Gold, is... 

Wesfarmers says A$700m Curragh sale nearing completion

By: Esmarie Swanepoel     26th March 2018 ASX-listed Wesfarmers on Monday reported that all conditions precedent for the A$700-million sale of its Curragh coal mine, in Queensland, had been met, clearing the way for the transaction to be completed this week. Wesfarmers in December struck a deal with US coal producer Coronado Coal Group... 

Rio sees $5bn copper expansion on track amid Swiss probe

By: Bloomberg     26th March 2018 Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3-billion expansion remains on track, according to the producer’s top executive. The attorney general of Switzerland is... 

Rio sees $5bn copper expansion on track amid Swiss probe
Rio Tinto CEO Jean-Sebastien Jacques

Barrick Gold cuts 2017 compensation for top two executives

By: Reuters     24th March 2018 Barrick Gold, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines. Shares in the Canadian miner declined 15% last year, even as the price of gold gained 11%. In 2017 Barrick... 

Mexican federal court approves Odyssey’s offshore sulphate mining permit; others to benefit

By: Henry Lazenby     24th March 2018 The Mexican Superior Court issued a unanimous ruling this week in favour of Nasdaq-listed Odyssey Marine Exploration’s subsidiary Exploraciones Oceánicas (ExO), which overturned a previous denial of ExO’s environmental permit application to extract phosphate sand at its Don Diego project, in the... 

Mexican federal court approves Odyssey’s offshore sulphate mining permit; others to benefit

Largo narrows FY17 loss as record Q4 output, rising metal prices boost bottom line

By: Henry Lazenby     24th March 2018 Canadian vanadium producer Largo Resources has narrowed its net loss for 2017 to C$10.4-million, or C$0.02 a share, as record fourth-quarter production dovetailed into higher realised prices for its vanadium pentoxide (V2O5) product. Largo set a new monthly production record in December at its... 

SLAM stakes new cobalt project in Bathurst Mining Camp

By: Henry Lazenby     23rd March 2018 Base metals-focused project generator SLAM Exploration's shares jumped 50% on Friday after the junior announced that it had acquired a new cobalt exploration property in the Bathurst Mining Camp of New Brunswick through claim staking. The Miramichi, New Brunswick-based explorer said it had staked... 

US Army Corps announces scoping period for Northern Dynasty’s Pebble project

By: Henry Lazenby     23rd March 2018 The US Army Corps of Engineers' Alaska District will publish a notice of intent in the US federal register next week to prepare a draft environmental-impact statement (EIS) to review the Pebble Limited Partnership’s (PLP's) application to discharge fill material into US waters for the purpose of... 

Gold's 'good week' gets better as trade war ignites haven demand

By: Bloomberg     23rd March 2018 Gold’s getting a double boost this week as investors piled into the traditional haven as a long-awaited trade war finally erupted between the US and China, extending gains that came after the Federal Reserve’s policy outlook proved less hawkish than feared. Bullion for immediate delivery rallied... 

 Gold's 'good week' gets better as trade war ignites haven demand

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