R/€ = 16.34 Change: 0.01
R/$ = 14.24 Change: 0.01
Au 1232.88 $/oz Change: 0.38
Pt 834.50 $/oz Change: 6.25

North America News

Coeur completes Northern Empire acquisition

By: Creamer Media Reporter      2nd October 2018 NYSE-listed Coeur Mining has wrapped up the acquisition of Northern Empire Resources, bolstering its project pipeline. Northern Empire’s principal asset is the fully permitted, past producing Sterling gold mine, which has an inferred gold resource of about 709 000 oz averaging at 2.23 g/t. The... 

China's at 'peak steel' right now, top iron-ore shipper says

By: Bloomberg     2nd October 2018 The world’s largest steel market is about to go into reverse. Production in China will peak in 2018 and then shrink next year as local demand drops, according to forecasts from the Australian government, which says the shift will add to headwinds for core ingredient iron ore. Mainland steel... 

Caledonia Mining declares quarterly dividend

By: Simone Liedtke     2nd October 2018 Exploration and development company Caledonia Mining has declared a quarterly dividend of $0.06875 a share. Additionally, it is expected that the current dividend of $0.27 yearly, paid in equal quarterly instalments, will be maintained, the company said on Tuesday. 

Paringa starts trading in the US

By: Esmarie Iannucci     2nd October 2018 Coal developer Paringa Resources has been approved for listing on the Nasdaq Capital Market, with US trading starting under the ticker symbol PNRL. Paringa on Tuesday said that the Nasdag listing did not include any capital raising, with the company’s cash reserves standing at $22.6-million at... 

Lonmin sells stake in Canadian junior Wallbridge to Eric Sprott

By: Mariaan Webb     2nd October 2018 Platinum miner Lonmin, which is being bought over by Sibanye-Stillwater, has agreed to sell its 6.8% interest in Canadian explorer and developer Wallbridge Mining to billionaire investor Eric Sprott for $3.97-million. The acquisition of Lonmin’s 24 042 895 shares in Wallbridge increased Sprott’s... 

Study confirms ‘quality, size’ of Copper Mountain’s Eva

By: Esmarie Iannucci     2nd October 2018 Dual-listed Copper Mountain Mining has estimated that its Eva copper project, in Queensland, would require a capital investment of $350-million to develop. A feasibility study, results of which were announced on Tuesday, found that the project would produce 334-million tonnes of ore and waste... 

Chalice step-change releases funds to investors

By: Esmarie Iannucci     2nd October 2018 ASX- and TSX-listed Chalice Gold Mines has shifted gears, announcing its intention to focus on exploring its Australian and Canadian assets, rather than the acquisition of an advanced resources project. “After realising more than $100-million in net proceeds from asset sales over the last... 

Rio unveils three large diamonds

By: Esmarie Iannucci     2nd October 2018 Diversified miner Rio Tinto and its joint venture partner Dominion Diamond Mines have revealed three of the finest large rough diamonds from the Diavik mine, in Canada, that will be up for tender, closing on October 25. Collectively known as the Diavik Stars of the Arctic, the three rough... 

Thornton nearly doubles his shareholding in Barrick

By: Creamer Media Reporter      2nd October 2018 Executive chairperson John Thornton has bought 2 271 029 additional shares in Barrick Gold, nearly doubling its shareholding in the gold major to five-million shares. Based on the exchange ratio of 6.128 Barrick shares for each share of Randgold Resources, under the recommended all-share merger... 

Cloud Peak HQ now at Cordero mine

By: Creamer Media Reporter      2nd October 2018 US coal miner Cloud Peak Energy has moved its corporate headquarters to an existing structure at the Cordero mine, outside Gillette, Wyoming, as part of an ongoing process of reducing its costs. Prior to the move, the head office was at 505 S, Gilette avenue, Gillette, in a building that the... 

Stibnite permitting schedule updated

By: Mariaan Webb     2nd October 2018 The date for the final record of decision (RoD) for the Stibnite gold project, in central Idaho, has been pushed out by two months to May 2020, explorer and developer Midas Gold reported on Monday, citing an updated schedule from the United States Forest Service (USFS). The USFS, in cooperation... 

Canada, buoyed by trade deal, to push US on metal tariffs

By: Reuters     2nd October 2018 Canada, buoyed by a last-minute continental trade deal it sealed with the United States and Mexico, is pressing Washington to remove steel and aluminum tariffs, senior Canadian officials said on Monday. The agreement, reached on Sunday night, protects Canada's automotive industry from... 

Botswana manganese estimate fires up aspirant battery supplier

By: Martin Creamer     1st October 2018 A maiden mineral resource at the Kgwakgwe Hill manganese field in Botswana has given a Toronto venture exchange junior exploration company sufficient confidence to proceed immediately with a preliminary economic assessment, Mining Weekly Online can today report. The mineral resource estimate,... 

Botswana manganese estimate fires up aspirant battery supplier
Maiden manganese mineral resource announced in Botswana

Relief Canyon ‘next leg of growth’ for Americas Silver

By: Mariaan Webb     1st October 2018 The announcement on Monday of a business combination of silver miner Americas Silver and emerging gold producer Pershing Gold is providing a “clear path” to the development of the Relief Canyon openpit gold mine, in Nevada. The increased financial and operating capabilities of the combined... 

Relief Canyon ‘next leg of growth’ for Americas Silver
The Relief Canyon project in Nevada.

Northern Star completes Pogo buy

By: Esmarie Iannucci     1st October 2018 Gold miner Northern Star Resources has completed its $260-million acquisition of the Pogo gold project, in Alaska, from Sumitomo Metal Mining company. Northern Star will receive the full financial benefit of Pogo from July this year, and as a result, the company’s full-year guidance has been... 

Cleveland-Cliffs and USW agree on new labour contract

By: Simone Liedtke     1st October 2018 NYSE-listed Cleveland-Cliffs and labour union United Steelworkers (USW) have announced a joint tentative agreement for a new four-year labour contract, effective from October 1. The new contract will cover about 1 800 USW-represented workers at Cliffs’ Tilden and Empire mines in Michigan, and its... 

Geoscience BC releases map data on Greenwood

By: Marleny Arnoldi     1st October 2018 Earth science information organisation Geoscience BC has released a new geological map and data, which is the latest in a series of research projects to encourage mineral exploration in the regional district of Kootenay Boundary in southern British Columbia. The 1:50 000 scale “Geology of the... 

Orocobre appoints new leadership

By: Esmarie Iannucci     1st October 2018 ASX- and TSX-listed Orocobre has appointed Martin Perez de Solay as its new CEO and MD, following a global search by a recruitment specialist. De Solay will commence in the roles following the company’s annual general meeting, and a transition period with current MD and CEO Richard Seville. 

BHP wraps up Fayetteville sale

By: Esmarie Iannucci     1st October 2018 Diversified giant BHP has completed the sale of its Fayetteville Onshore US gas assets for $0.3-billion. BHP in July announced that it had struck a deal with Merit Energy Company to divest of its interest in BHP Billiton Petroleum (Arkansas) and its membership interest in BHP Billiton Petroleum... 

Shell, partners approve C$40bn project to speed gas to Asia

By: Bloomberg     1st October 2018 Royal Dutch Shell and its four partners have agreed to invest in a multibillion-dollar liquefied natural gas project in western Canada – the largest new one of its kind in years that would carve out the fastest route to Asia for North American gas. LNG Canada – comprised of Shell, Malaysia’s... 

Lundin names new CFO as Inkster formally assumes CEO role

By: Mariaan Webb     1st October 2018 Canadian base metals miner Lundin has promoted VP of finance, Jinhee Magie, to the position of senior VP and CFO, succeeding Marie Inkster, who on Monday formally took over from Paul Conibear as president and CEO. Conibear, who announced his retirement in July, will continue as an adviser until... 

Rio Tinto and Freeport aim to close Grasberg deal in Q1

By: Esmarie Iannucci     1st October 2018 Mining major Rio Tinto has confirmed that it has signed a binding agreement to divest of its interest in the Grasberg mine, in Indonesia. In terms of the divestment agreement announced last week, State-owned enterprise PT Indonesia Asahan Aluminium (Inalum) will acquire all of Rio Tinto’s... 

Peabody expects no production from fire-hit North Goonyella in Q4

By: Esmarie Iannucci     1st October 2018 US coal miner Peabody Energy has developed and is implementing a multi-tiered plan to extinguish and contain a fire at its North Goonyella mine, in Queensland. Elevated gas levels were detected at the mine during a scheduled longwall move, with personnel observing black smoke coming from the... 

Peabody expects no production from fire-hit North Goonyella in Q4

Scientists weigh call for much deeper cuts to coal pollution

By: Bloomberg     1st October 2018 A panel of the world’s top climate scientists is preparing to recommend much deeper cuts in fossil-fuel pollution than currently suggested as a pathway to stave off a dangerous increase in global temperatures. Utilities by 2030 would have to consume just a third of the coal they burn now to hold... 

Scientists weigh call for much deeper cuts to coal pollution

Randgold refutes Sokimo’s claims around Barrick merger affecting Kibali ownership

By: Marleny Arnoldi     28th September 2018 Randgold Resources has refuted reported claims by Democratic Republic of Congo State miner Société de Miniere de Kilo-Moto SA (Sokimo) that the proposed merger between Barrick Gold and Randgold will introduce a new partner in the Kibali joint venture. Randgold said the proposed merger would... 

Fitch Solutions revises zinc price forecast for 2018 downwards

By: Tasneem Bulbulia     28th September 2018 Fitch Solutions Macro Research has revised its forecast zinc price for this year down to an average $3 000/t, compared with the previously expected $3 100/t, after the zinc price fell by more than expected in the third quarter. The decrease in the zinc price is attributable to the escalating... 

SolGold CEO: High grades deliver independence

By: Mariaan Webb     28th September 2018 High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a... 

SolGold CEO: High grades deliver independence
The Cascabel project, in Ecuador.

Metallurgical coal miners may curb costs as prices slip – Fitch Ratings

By: Tasneem Bulbulia     28th September 2018 Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline over the next 18 months, says Fitch Ratings and CRU. CRU estimates that global costs in the metallurgical coal sector increased by 18% in 2017 and continued to rise this... 

Metallurgical coal miners may curb costs as prices slip – Fitch Ratings

Constantine updates Palmer resource to indicated category at 11% zinc

By: Marleny Arnoldi     28th September 2018 TSX-listed Constantine Metal Resources (CMR) has updated its mineral resource estimate for the Palmer copper/zinc/gold/silver deposit, in Alaska, to an indicated resource of 4.6-million tonnes, grading 11.67% zinc equivalent and 3.84% copper equivalent. This mineral resource update represents... 

Energy Fuels to start vanadium production in November

By: Marleny Arnoldi     28th September 2018 NYSE- and TSX-listed Energy Fuels expects to resume vanadium production at its White Mesa mill, in Utah, in mid-November, with saleable vanadium oxide ready by the end of December. When production starts, Energy Fuels will be the newest vanadium producer worldwide and the only primary producer... 

Albemarle eyes future as pure-play lithium market leader

By: Reuters     28th September 2018 Albemarle Corp, the world's largest lithium producer, aims to eventually end its dependence on two smaller units to fund growth as global appetite surges for electric-powered vehicles and consumer goods, its chief executive said in an interview. Tesla and other automakers have helped make... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine

By: Mariaan Webb     28th September 2018 The New Ingerbelle property, located about one kilometre from the Copper Mountain mine, in southern British Columbia, is a strong candidate to be incorporated into the current mine’s plan aimed at increasing yearly production. The New Ingerbelle deposit is expected to produce 768-million pounds... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine
The Copper Mountain mine, near Princeton, British Columbia.

Barrick's Bristow bet seen as boosting South America revival

By: Bloomberg     28th September 2018 Mark Bristow built a reputation as the developer and operator of lucrative mines in Africa. Now the world’s biggest gold mining company is betting he can do the same in another complex region, South America. The Randgold Resources founder is set to become CEO of Barrick Gold after Barrick said... 

Barrick's Bristow bet seen as boosting South America revival
Mark Bristow

MC Mining eyeing acquisition, project access, SEZ 

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining, which has painstakingly removed many obstacles in its path in the last five years, is targeting the acquisition of a second suitable operational coal mine in the mould of the cash-generative Uitkomst, taking strong steps to secure access... 

MC Mining eyeing acquisition, project access, SEZ
MC Mining CEO David Brown interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Dylan Slater

Stanbic Botswana secures $125m loan guaranty to support diamond sector

By: Tasneem Bulbulia     27th September 2018 Stanbic Bank Botswana, which is a member of Standard Bank Group, has, along with the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, and Botswana Finance, a subsidiary of Lazare Kaplan International, signed a $125-million loan guaranty, which... 

Final Dundas PFS delayed to next year – Bluejay

By: Mariaan Webb     27th September 2018 London- and Frankfurt-listed Bluejay Mining has delayed the release of a prefeasibility study (PFS) for the significant Dundas ilmenite project, in Greenland, to the first quarter of next year, but chairperson Mike Hutchinson believes it will be worth the wait. The final Dundas PFS will be... 

MC Mining reports normalised $9.8m loss

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining on Thursday reported a normalised after-tax loss of $9.8-million in the 12 months to June 30, when the company achieved full integration of  the cash generating Uitkomst thermal and metallurgical colliery, which sold $32.7-million worth... 

WTO cuts world merchandise trade forecasts for 2018 and 2019

By: Reuters     27th September 2018 World trade growth is likely to be slower than previously thought in 2018 and 2019, although the direct economic effects of a trade war that has blown up this year have been modest so far, the World Trade Organization (WTO) said on Thursday. The WTO forecast world trade in goods would grow by... 

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