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North America News

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... 

More boardroom diversity means less in C-suite, Lucara CEO says

By: Bloomberg     21st June 2018 The push by mining companies to attract more women to their boardrooms may be short-sighted as top female candidates are diverted from senior executive jobs, according to the head of Lucara Diamond Corp. “There’s such a push for diversity on boards, and young women are really being encouraged to... 

More boardroom diversity means less in C-suite, Lucara CEO says
Lucara CEO Eira Thomas

Copper mine planned for Utah National Monument shrunk by Trump

By: Bloomberg     21st June 2018 The red sandstone vistas in Utah’s Grand Staircase-Escalante National Monument may soon be criss-crossed with dump trucks after a Canadian mining company announced plans to begin operations on land cut from federal protection by President Donald Trump. Vancouver-based Glacier Lake Resources... 

Bunker Hill initiates technical report; plans TSX listing

By: Creamer Media Reporter      21st June 2018 Bunker Hill Mining Corporation, which is gearing up to reopen the historic Bunker Hill mine in Idaho’s Coeur D'Alene zinc, lead and silver mining district, has started work on a technical report, which it will use to apply for a listing on the TSX. The NI 43-101 technical report on the Bunker... 

First Quantum and Lumina make Ecuador earn-in formal

By: Creamer Media Reporter      21st June 2018 Copper miner First Quantum Minerals (FQM) has signed a formal earn-in agreement with Vancouver-based junior Lumina Gold to earn into the Orquideas and Cascas gold/copper concessions in Ecuador. In terms of the previously announced five-year agreement, FQM has committed to contribute $1.5-million... 

$14m Sprott loan to reboot Alderon’s Kami project

By: Creamer Media Reporter      21st June 2018 TSX-listed Alderon Iron Ore has entered into an agreement with Sprott Resource Lending for a $14-million loan facility, which will provide the junior with sufficient funds to repay a loan due to Liberty Metals and Mining and provide additional runway to reboot the Rose deposit of the... 

$14m Sprott loan to reboot Alderon’s Kami project
The Kami project in western Labrador.

Cobalt explorers see Congo mine law offset by price, high grades

By: Bloomberg     21st June 2018 Junior miners exploring for cobalt in the Democratic Republic of Congo (DRC) reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed. Congo, the world’s largest source of the metal, this month began implementing an... 

Matador raises funds for Cape Ray buy

By: Esmarie Swanepoel     21st June 2018 Junior Matador Mining has completed a A$5-million capital raise to complete the acquisition of the Cape Ray gold project, in Canada. Matador in April acquired the project from TSX-V listed Benton for a total cash consideration of A$3.5-million and eight-million fully paid ordinary shares, as... 

Takeover panel clears way for M&R to move on Aveng tie-up amid ongoing ATON opposition

By: Terence Creamer     21st June 2018 Murray & Roberts (M&R) announced on Thursday that it would proceed to further develop a potential tie-up with Aveng after the Takeover Regulation Panel (TRP) sanctioned the outcome of an earlier shareholder vote, which approved a resolution stating that the proposed Aveng deal was not designed to... 

Takeover panel clears way for M&R to move on Aveng tie-up amid ongoing ATON opposition

Coal is being squeezed out of power by cheap renewables

By: Bloomberg     21st June 2018 Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5-trillion of... 

Sumitomo buys 5% stake in Newmont-Buenaventura gold mine

By: Reuters     21st June 2018 Japanese trading house Sumitomo Corp on Thursday said it had agreed to buy a 5% stake in the Yanacocha gold mine in Peru for $48-million, as it looks to boost its assets in the metals sector. Yanacocha, which has been in production since 1993, was Peru's largest gold mine until output began... 

Orion expands Curraghinalt ownership with C$1.47-a-share offer for Dalradian

By: Mariaan Webb     21st June 2018 TSX- and Aim-listed Dalradian Resources on Thursday announced recommended cash offer of C$1.47 a share by investment management group Orion Mine Finance, valuing the developer of the Curraghinalt gold project, in Northern Ireland, at C$537-million. Under the agreement, Curraghinalt will continue... 

Orion expands Curraghinalt ownership with C$1.47-a-share offer for Dalradian

Trump's fickleness is dulling gold's appeal, Deutsche Fund says

By: Bloomberg     21st June 2018 Gold is failing in its traditional role as a haven in turbulent times, and a Deutsche fund manager has an explanation. On Tuesday, as the deepening trade spat between the US and China sent the S&P 500 index tumbling the most in a week, investors sought haven in the dollar, US Treasuries and yen,... 

Brixton to spin out cobalt assets into standalone battery metals company

By: Mariaan Webb     20th June 2018 TSX-V-listed Brixton Metals has announced its intentions to spin out its past producing cobalt projects in Ontario into a standalone listed company, which will also focus on other battery metals, including vanadium. The potential spinout, announced on Wednesday, aims to tap into the strong growth... 

Serabi reports fatality at Brazil mine

By: Creamer Media Reporter      20th June 2018 Dual listed Serabi Gold on Wednesday reported that a worker had died in a mining accident at its Sao Chico mine, in Brazil. The accident, which happened during the weekend, involved the operation of one of the underground loading machines. 

Centerra delays completion of Kyrgyz strategic accord further

By: Mariaan Webb     20th June 2018 TSX-listed gold producer Centerra Gold has agreed to further extend the first longstop date of a strategic agreement it signed with the Kyrgyz government on September 11, 2017. The Toronto-based miner has pushed out the first longstop date – the date by which all conditions precedent to the... 

Centerra delays completion of Kyrgyz strategic accord further
The Kumtor mine, in Kyrgyzstan.

EU to impose duties on US imports Friday after Trump tariffs

By: Reuters     20th June 2018 The European Union will begin charging import duties of 25% on a range of US products on Friday, in response to US tariffs imposed on EU steel and aluminium early this month, the European Commission said on Wednesday. The move confirms a tit-for-tat dispute that could escalate into a full trade... 

EU to impose duties on US imports Friday after Trump tariffs

Hyundai teams up with VW's Audi to boost hydrogen cars

By: Reuters     20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

Caterpillar’s record profit can’t save it from trade-war carnage

By: Bloomberg     20th June 2018 The world on the cusp of a trade war has spooked investors, and few companies are feeling the fright more than Caterpillar. Shares of the Deerfield, Illinois-based company, which is expected to post record profit this year and the best sales since 2014, have dropped for five straight days and... 

Nevada Copper reports solid progress at Pumpkin Hollow

By: Creamer Media Reporter      20th June 2018 Early construction works continue to ramp up at the Pumpkin Hollow underground project, while an optimisation study for the openpit is progressing and expected to be released in the coming months. In an operations update on Tuesday, TSX-listed Nevada Copper reported that work was continuing on... 

PTM subsidiary, Capricorn municipality ink plan to increase water supply

By: Simone Liedtke     19th June 2018 Waterberg JV Resources, the operating company of the Waterberg Joint Venture (JV), has entered into an agreement with the Capricorn district municipality, in Limpopo, to jointly develop a water supply management plan to increase the water supply and infrastructure capacity for both the local... 

Rusal starts shipping bauxite from Guinea's Dian-Dian mine

By: Reuters     19th June 2018 Sanctions-hit Russian aluminium producer Rusal said on Tuesday it had started shipping bauxite from its Dian-Dian bauxite project in Guinea to its alumina refineries in other countries. Rusal, the world's largest aluminium producer outside China, has been hit by US sanctions imposed on it and... 

Lydian to appoint former Goldcorp and Newmont CFO as director

By: Creamer Media Reporter      19th June 2018 TSX-listed Lydian International, which is building the Amulsar gold mine in Armenia, on Tuesday announced that it would appoint gold mining executive Russell Ball as director at its annual general meeting on June 28. Ball is a former executive VP and CFO of gold majors Goldcorp and Newmont Mining. 

IDM to update Red Mountain feasibility study to include additional resources

By: Mariaan Webb     19th June 2018 TSX-V-listed IDM Mining has significantly increased the mineral resources of its Red Mountain project, which company president and CEO Robert McLeod said would likely be the next underground gold mine in British Columbia. Following the 2017 underground drilling programme, IDM on Tuesday reported... 

Selloff in iron-ore to rubber in China as US trade war widens

By: Reuters     19th June 2018 Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy. The selloff also hit steel, copper, cotton and palm oil, as Chinese investors returned... 

OceanaGold ups 2018 gold guidance

By: Mariaan Webb     19th June 2018 A strong operating performance in the first half of 2018 has seen dual-listed OceanaGold increase its gold production guidance for the year to between 500 000 oz and 540 000 oz. The new guidance, announced on Tuesday, compares with the company’s previously stated production target of 480 000 oz... 

Orosur appoints Schafer to board

By: Creamer Media Reporter      19th June 2018 TSX- and Aim-listed gold producer Orosur Mining has appointed Bob Schafer as nonexecutive director to replace Roger Davey, who has retired. The 64-year old Schafer has worked internationally, with notable experience in the far east of Russia, Southern Africa, South America and Australia. He has... 

Harmony repays $100m on bridge facility, strengthens balance sheet

By: Simone Liedtke     19th June 2018 Harmony Gold Mining has repaid a further $100-million of the original $200-million bridge loan raised for the acquisition of its recently-acquired Moab Khotsong gold mine, in the North West. “Harmony believes in having a robust and flexible balance sheet that supports its growth ambitions,”... 

Harmony repays $100m on bridge facility, strengthens balance sheet
Harmony CEO Peter Steenkamp

Minera Alamos looking at low-cost option for Guadalupe

By: Esmarie Swanepoel     19th June 2018 Gold developer Minera Alamos is targeting a low capital cost gold heap leach operation at its Guadalupe de los Reyes gold project, in Mexico, which the company is acquiring for $6-million from Vista Gold through staged payments. CEO Darren Koningen said on Monday that the previous owners had... 

Urban Barry gold camp gold explorers merge

By: Esmarie Swanepoel     19th June 2018 TSX-V-listed junior Bonterra Resources and Metanor Resources have struck a merger agreement to create an advanced Canadian gold exploration and development company. Under the terms of the agreement, Bonterra will acquire all of the issued and outstanding shares in Metanor for C$0.73 in equity... 

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