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R/€ = 14.90 Change: -0.06
R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51
 

North America News

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

World's No 1 miner sees bigger role for carbon-capture systems

By: Bloomberg     7th December 2017 BHP Billiton, the world’s biggest mining company, said wider use of systems that trap carbon emissions will be needed to meet international climate goals, even as investments in the technology stall. “We have knowledge of geology, markets and economics, so there’s probably something we can bring... 

World's No 1 miner sees bigger role for carbon-capture systems

Newmont poised to oust Barrick as world's top gold producer

By: Bloomberg     7th December 2017 Newmont Mining’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The CEO raised his 2018 production forecast to a range of 4.9-million to 5.4-million ounces. That exceeds Barrick Gold’s 2018 guidance of 4.8-million to 5.3-million given in February, which doesn’t... 

Newmont poised to oust Barrick as world's top gold producer

Tertiary raises cash for potential acquisitions

By: Mariaan Webb     6th December 2017 Aim-traded Tertiary Minerals has raised £500 000 in a share placement to fund potential acquisitions and for the ongoing development of its current fluorspar projects. Tertiary, which is advancing projects in Sweden, the US and Norway, has shortlisted projects for potential acquisition. The... 

Suncor submits applications to replace coke-fired boilers with 2 cogeneration plants

By: Henry Lazenby     6th December 2017 Canadian fossil energy company Suncor has launched applications with the Canadian Environmental Assessment Agency (CEAA) to replace coke-fired boilers with two cogeneration units at its oil sands Base Plant, which will add 700 MW of oil sands cogeneration. The plants will serve two purposes:... 

Atrum incorporates Elan project directly into portfolio, reverses decision to list

By: Dylan Slater     6th December 2017 ASX-listed coal miner Atrum Coal has reversed a decision to list its Canada-based Elan Coal properties on a stock exchange and, instead, will integrate the mining project directly into its portfolio 

Lithium giant SQM eyes new project to tackle electric-car boom

By: Bloomberg     6th December 2017 One of the world’s largest lithium producers is looking to expand into a new country as prices surge to record highs amid a nascent electric-vehicle boom led by car makers such as Tesla and Mitsubishi. Soc. Quimica & Minera de Chile SA is considering opportunities to establish a foothold in a... 

Harmony Gold spells out value of Moab investment

By: Martin Creamer     6th December 2017 The acquisition of the Moab Khotsong gold mine represents a significant list of advantages for Harmony Gold, the company outlined in an investor brief on Wednesday. The Johannesburg Stock Exchange-listed gold mining company calculates that inclusion of the Moab Khotsong operations the company... 

Harmony Gold spells out value of Moab investment
Photo by Duane Daws
Harmony Gold CEO Peter Steenkamp

Don't expect fireworks for gold in 2018, just a gentle nudge up

By: Bloomberg     6th December 2017 Gold has its fans for next year, but sparks are probably not going to fly. Even as the Federal Reserve tightens monetary policy and the European Central Bank tapers bond purchases, gold is set to rise marginally as real interest rates stay low and the dollar weakens, according to Bart Melek,... 

Teck forecasts higher Q4 realised coal prices

By: Henry Lazenby     6th December 2017 Canadian diversified miner Teck Resources has increased its forecast realised prices for all tonnes of coal sold in the fourth quarter to a range $165/t to $170/t, the Vancouver-based miner said on Tuesday. The TSX- and NYSE-listed company advised that its realised price for the period is now... 

Newmont to earn up to 70% stake in Esperance gold discovery in French Guiana

By: Henry Lazenby     6th December 2017 US gold producer Newmont Mining has entered an agreement with French miner Compagnie Miniere Esperance (CME) to earn up to a 70% interest in the Esperance gold discovery, in French Guiana. Newmont will make multi-year investments in the property, which it believes has multi-million ounce potential. 

Glencore-Canada venture hitched to low-carbon economy shift

By: Martin Creamer     5th December 2017 The joint venture partnership Glencore struck with a Canadian pension plan on Tuesday provides exposure to commodities that benefit from a low-carbon economy. BaseCore Metals, a 50:50 partnership centred on base metals streams and royalties, involves Glencore Canada Corporation contributing a... 

Glencore-Canada venture hitched to low-carbon economy shift
Glencore CEO Ivan Glasenberg

Allegiance takes full ownership of Canada’s Telkwa coal project

By: Mia Breytenbach     5th December 2017 ASX-listed Allegiance Coal has entered into an unconditional agreement with TSX-listed Altius Minerals to take full ownership of the Telkwa metallurgical coal project, in Canada, while the diversified royalty company will become a more significant shareholder in the miner. The company can now... 

B2Gold achieves commercial production at Fekola, ups mine guidance

By: Henry Lazenby     5th December 2017 Canadian gold producer B2Gold has declared commercial production at its Fekola mine, in Mali, last Thursday, achieving the feat four months ahead of the original schedule, and one month ahead of the revised schedule. Vancouver-based B2Gold advised that Fekola remains ahead of schedule, with gold... 

Nemaska delivers first lithium hydroxide made from own Whabouchi spodumene

By: Henry Lazenby     5th December 2017 The TSX-listed stock of lithium development company Nemaska Lithium jumped to a new 52-week high of C$2.24 apiece on Monday, after the company confirmed that it had delivered 1.5 t of lithium hydroxide produced from its Wabouchi spodumene mine, in Quebec. "This is the first time a new entrant to... 

Cleveland-Cliffs launches two debt offerings to fund first hot briquetted iron plant

By: Henry Lazenby     5th December 2017 US iron-ore producer Cleveland-Cliffs has launched two debt offerings totalling $716-million to help fund its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Based in Cleveland, Ohio,... 

Santander keeps on giving as Trevali traces mineralisation at depth

By: Henry Lazenby     5th December 2017 Zinc miner Trevali Mining has published encouraging results from its 2017 exploration programme, where directional diamond drilling continues to intersect multiple zones of high-grade zinc mineralisation within and below the Santander Pipe target, at its Santander zinc mine, in Peru. Highlights... 

Nevsun expands strongly mineralised trend at Timok

By: Henry Lazenby     5th December 2017 Ongoing exploration drilling on the Lower Zone at Canadian base metals miner Nevsun Resources’ Timok copper/gold project, in Serbia, has expanded the footprint by about 350 m by 750 m and continues to confirm the high grade, continuity and thickness of the mineralisation, the company announced on... 

Trump to shrink Utah monuments holding artifacts, minerals

By: Bloomberg     5th December 2017 President Donald Trump said Monday that he’ll shrink two national monuments in Utah that contain stunning red-sandstone vistas, historic relics and energy resources, arguing his predecessor overstepped in protecting the land. Trump travelled to Salt Lake City for the announcement, and also met... 

Uranium companies jump on another round of Kazatomprom production cuts

By: Henry Lazenby     4th December 2017 An announcement Monday by the world’s largest uranium producer, the National Atomic Company of the Republic of Kazakhstan (Kazatomprom), that it would curtail another 20% of output for three years, starting from January, sent most TSX-listed uranium companies’ equities soaring. The national miner... 

Uranium companies jump on another round of Kazatomprom production cuts

De Beers spearheading diamond traceability digital platform service

By: Anine Kilian     4th December 2017 Diamond giant De Beers is investing in a new digital platform service that provides a single, immutable record tracing a diamond’s individual journey through the value chain. This diamond traceability platform is underpinned by blockchain technology, which allows for a highly secure digital... 

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Iron-ore enters bull market as China's curbs supercharge steel

By: Bloomberg     4th December 2017 Iron-ore has rallied back into a bull market. Prices are surging as China’s crackdown on steel output this winter runs down inventories, helping mills’ profitability and stoking demand for high-grade ore even as investors discount signs of ample supply. Spot ore with 62% iron content jumped 3.7%... 

Atalaya board approves €80.4m expansion in Spain

By: Mariaan Webb     4th December 2017 European mining and development company Atalaya Mining on Monday announced its decision to proceed with the 15-million-tonne-a-year expansion of its Proyecto Riotinto mine, in Spain. The €80.4-million expansion would upgrade processing facilities, including the installation of a new primary... 

Atalaya board approves €80.4m expansion in Spain

Banro defers December interest payment

By: Henry Lazenby     2nd December 2017 Democratic Republic of Congo- (DRC-) focused miner Banro Corp has decided to defer an interest payment of $4.94-million that was due on Friday for up to 30 days. Under the terms of the indenture governing the 10% notes due 2021, no event of default will occur if the interest payment is made... 

Bear Creek wins C$30.4m award in international arbitration against Peru

By: Henry Lazenby     2nd December 2017 A tribunal of arbitrators at the International Centre for the Settlement of Investment Disputes (ICSID) has ordered an award of c$30.4-million to Canadian project developer Bear Creek Mining. The arbitrators agreed with the TSX-V-listed company that Peru had breached its obligations to the... 

Mountain Province prices $330m senior second-lien notes to settle construction debt

By: Henry Lazenby     2nd December 2017 Diamond producer Mountain Province Diamonds has launched a $330-million debt financing to settle its Gahcho Kué project construction loan facility and to repay previously sunk expenses by the mine’s majority owner and operator De Beers Canada. The Toronto-headquartered company is offering senior... 

Reunion’s profile bolstered as Barrick sinks C$9.12m to take 15% stake

By: Henry Lazenby     1st December 2017 The TSX-V-listed equity of Canadian exploration and development company Reunion Gold jumped more than 10% on Friday after announcing that the world’s largest gold producer by output, Barrick Gold, has taken a 15% stake. NYSE- and TSX-listed Barrick has acquired 48-million Reunion shares, through... 

McEwen secures $10m in Timmins exploration funding

By: Henry Lazenby     1st December 2017 Gold producer McEwen Mining has secured a $10-million financing to support a 2018 exploration programme on its newly acquired Black Fox mine and associated assets in Ontario’s Abitibi Gold Belt. The financing comprises a $10-million bought deal of four-million flow-through common shares priced at... 

The cobalt crunch for electric cars could be solved in suburbia

By: Bloomberg     1st December 2017 Almost 9 000 miles from the dusty Congo savanna, miners have hit on an entirely new source of cobalt – the rare mineral at the heart of the electric-car boom. And not only can they take coffee breaks, when they take a break, they can grab a doughnut at Tim Hortons. Scientists working for American... 

C$1.17m raised for Northern Ireland’s Omagh mine

By: Mariaan Webb     1st December 2017 The owner of Northern Ireland’s only producing gold mine has raised about C$1.17-million (or £682 859) in a private placement, which the company plans to use to accelerate underground development. TSX-V and Aim-listed Galantas Gold closed the private placement on Thursday for 16 655 099 common... 

Demand for battery metals will drive African exploration, investment

By: Nadine James     1st December 2017 Growth in the electric vehicle (EV) market will boost demand for battery metals exponentially, driving exploration and investment in Africa. This was discussed during a live-streamed Mining Indaba panel on energy metals in which Cobalt 27 chairperson Anthony Milewski, Montero president and CEO Dr... 

Cobalt’s dramatic demand bump gives rise to novel investment vehicle

By: Henry Lazenby     1st December 2017 Cobalt supply constraints, coupled with a never-before-seen boom in the adoption rate of electric vehicles (EV) across the globe, have conspired to create an ideal market in which a pure-play cobalt investment and participation vehicle's profits can outpace its peers. Cobalt, a critical ‘energy... 

Cobalt’s dramatic demand bump gives rise to novel investment vehicle

Electric vehicle revolution a rare investment opportunity as metals demand spikes

By: Henry Lazenby     1st December 2017 The rate at which global automotive markets are adopting electric vehicles (EVs) is accelerating at a much faster pace than even some of the keenest market observers estimated at the start of 2017, and is opening up once- in-a-lifetime investment opportunities among the four key ‘energy metals’ –... 

Electric vehicle revolution a rare investment opportunity as metals demand spikes

Newmont selects preferred bidder for power at remote Australian mine

By: Creamer Media Reporter      1st December 2017 Gold major Newmont Mining has awarded power generation specialist Zenith Energy preferred bidder status to build, own and operate a 62 MW power station for its Tanami gold mine, which is about 520 km north-west of Alice Springs in the remote Tanami desert of the Northern Territory. The power... 

Novo meets commitment to earn 50% in Karratha JV

By: Mariaan Webb     1st December 2017 Canada’s Novo Resources has satisfied its farm-in and joint venture (JV) expenditure commitment to earn 50% into a venture with Australia’s Artemis Resources focusing on conglomerate gold in the Karratha region of the Pilbara. Three separate unincorporated 50:50 JVs have been formed between Novo... 

'Miner's revenge' is coming with electric cars, Friedland says

By: Bloomberg     1st December 2017 Surging demand for metals like copper, nickel and cobalt for use in electric vehicles promises to overturn the balance of power between mining companies and their customers, according to billionaire investor Robert Friedland. Automakers will have to change the way they approach procurement if... 

Lundin stock tumbles on disappointing production outlook

By: Henry Lazenby     1st December 2017 Base metals producer Lundin Mining saw about 21% of its TSX-listed equity wiped out on Thursday after it reported a disappointing long-term production outlook on Wednesday. The Toronto-headquartered company punted significant investments in both the Candelaria copper mine and mill, in Chile,... 

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