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North America News

Investec amends Buffalo Coal term loan, revolving credit facility

By: Simone Liedtke     20th March 2018 Coal miner Buffalo Coal Dundee, a wholly-owned subsidiary of TSX-V- and AltX-listed Buffalo Coal, has entered into an amendment to its term loan and revolving credit facility with Investec Bank. Pursuant to the amendment, the working capital facility under the Investec facility was increased by... 

EV adoption rate reaching critical mass as search for ethical cobalt heats up

By: Henry Lazenby     20th March 2018 Cobalt company Cobalt 27 is seeing an ideal storm brewing for its key commodity as the adoption rate of electric vehicles (EVs) accelerates faster than even optimistic forecasts had speculated. “Cobalt 27 is a proxy for the adoption of the EV,” executive chairperson Anthony Milewski told Mining... 

EV adoption rate reaching critical mass as search for ethical cobalt heats up

US bans transactions with Venezuela's digital currency – White House

By: Reuters     19th March 2018 US President Donald Trump on Monday signed an executive order barring any US-based financial transactions involving Venezuela's new petro cryptocurrency, as US officials warned that it was a "scam" by President Nicolas Maduro's government to further undermine democracy in the OPEC country. "The... 

US Congressional action underscores strong desire to establish domestic REE supply chains

By: Henry Lazenby     19th March 2018 Recent US Congressional actions point to a strong desire to establish domestic rare earth element (REE) supply chains, as the industry seeks to diversify away from dominant producer and consumer – China. Congress continues to work on the development of REE separation technologies, as evidenced by... 

US Congressional action underscores strong desire to establish domestic REE supply chains
Rare-earth oxides

Marijuana is the new gold as former Canada miners go to pot

By: Bloomberg     19th March 2018 Turns out, it may be easier to strike gold by growing green. Just ask Jay Wilgar, a former wind power developer who started a medical marijuana company with friend Travis Kanellos after hatching the idea while lifting weights at a gym. When they began looking at ways to take their startup... 

Marijuana is the new gold as former Canada miners go to pot

Yauricocha strike ends, not to impact Sierra Metals guidance

By: Henry Lazenby     19th March 2018 TSX- and NYSE American-listed Sierra Metals reported that a wildcat strike by less than 10% of workers employed at its Yauricocha mine, in Peru, has ended with minimal disruption and no expected impacts on 2018 production. Sierra said the strike action started on Friday and ended following... 

Anaconda turns hostile in bid to buy Maritime Resources

By: Henry Lazenby     19th March 2018 The TSX-V-listed stock of junior explorer Maritime Resources jumped by 20% on Monday morning following an announcement by Atlantic Canada-focused project consolidator Anaconda Mining that it intends to take a takeover deal directly to shareholders following inaction by the Maritime board.... 

Alio to lift output 65% this year through Rye Patch Gold buy priced at C$128m

By: Henry Lazenby     19th March 2018 The TSX-V-listed equity of Rye Patch Gold jumped more than 11% on Monday following a joint announcement with junior explorer Alio Gold that the companies have agreed to execute a plan of arrangement through which Alio will acquire Rye Patch. Vancouver-based Alio, which is operating the San... 

Dalradian continues to move Northern Ireland project towards production

By: Creamer Media Reporter      19th March 2018 With the planning application for the Curraghinalt mine submitted, dual-listed Dalradian Resources’ primary goal is to progress the Northern Ireland project to production. This goal will be advanced this year through drilling, engineering and geological studies, as well as environmental and... 

15 MW Essakane hybrid plant inaugurated in Burkina Faso

By: Simone Liedtke     19th March 2018 The 15 MW Essakane solar plant, in northern Burkina Faso, has been officially opened. The photovoltaic (PV) plant will supply electricity to Iamgold's Essakane gold mine. 

DRC curbs expectations of miners about concessions on code

By: Bloomberg     19th March 2018 Mining companies in the Democratic Republic of Congo (DRC) won’t secure substantial concessions in talks with the state about changes to the industry code, a senior mining official said. The operators, including Glencore Plc and Randgold Resources, are pressing the government to row back on some... 

Honey Badger initiates drilling programme at Thunder Bay silver camp

By: Simone Liedtke     19th March 2018 Gold and base metals exploration company Honey Badger Exploration has mobilised a drill to start a 1 500 m drilling programme at its Canada-based Thunder Bay polymetallic silver camp. Earlier this year, the company completed a systematic exploration programme, which combined field measurements,... 

Mountain Province, De Beers consider incorporating Kennady assets into Gahcho Kué JV

By: Simone Liedtke     19th March 2018 TSX-listed Mountain Province Diamonds has signed a nonbinding memorandum of understanding (MoU) with De Beers Canada, its partner in the Gahcho Kué mine, to potentially incorporate properties owned by Kennady Diamonds into the Gahcho Kué joint venture (JV). Mountain Province is acquiring Kennady,... 

Beadell gains Canadian listing for Tucano through Golden Harp merger

By: Esmarie Swanepoel     19th March 2018 ASX-listed gold miner Beadell Resources has inked a definitive agreement with TSX-V listed Golden Harp Resources to merge the companies. The new merged entity will be renamed Americano Mining, and will be listed on both the ASX and the TSX-V. 

Battery makers descend on Australia, Canada cobalt developers

By: Reuters     19th March 2018 Nervous Asian battery makers are turning to early-stage cobalt projects in Australia and Canada to lock in supplies of the critical battery ingredient ahead of expected shortages as demand for electric vehicles revs up. Mine developers say interest from Japanese and Korean firms is particularly... 

Wheaton Precious Metals portfolio biased to gold as organic growth pipeline lags

By: Henry Lazenby     19th March 2018 Canadian streaming firm Wheaton Precious Metals (WPM) has seen the proportion of precious metals in its production profile shift, with about two-thirds weighted to gold, as several of its silver-focused organic growth projects languish behind plan. The Vancouver-based company expects to have... 

Wheaton Precious Metals portfolio biased to gold as organic growth pipeline lags
Photo by Bloomberg
Wheaton Precious Metals CEO Randy Smallwood smiles during an interview at the Prospectors & Developers Association of Canada Convention, in Toronto

New Chile govt undecided on blocking SQM sale to China firms – official

By: Reuters     16th March 2018 Chile's new government is evaluating whether to support a petition filed by its predecessor to block the sale of a stake in top lithium miner SQM to a Chinese firm, a senior government official told Reuters on Friday. Chile development agency Corfo filed a complaint last week to block the sale... 

Mine accident shows a potash market nervous about outages

By: Bloomberg     16th March 2018 The news, when it came late Friday night from a government ministry in Minsk, was grim: the ceiling of a potash mine in Belarus had collapsed more than half a kilometre underground, trapping two workers. Halfway around the world, the reaction to the headlines was swift and dramatic. Shares of... 

Mine accident shows a potash market nervous about outages

ARM's Motsepe predicts successful charter, land outcomes 

By: Martin Creamer     16th March 2018 The executive chairperson of diversified black-controlled mining company African Rainbow Minerals (ARM), Patrice Motsepe, on Friday expressed the firm conviction that South Africa was in the process of reinforcing its position as a competitive mining destination through a positive Mining Charter... 

ARM's Motsepe predicts successful charter, land outcomes
African Rainbow Minerals executive chairperson Patrice Motsepe at presentation of 15% higher half-year earnings covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

African Rainbow Minerals ups earnings, declares dividend

By: Martin Creamer     16th March 2018 Diversified black-led mining company African Rainbow Minerals (ARM) on Friday announced a 15% increase in headline earnings for the six months to December 31 to R1 945 million. This increase was mainly as a result of improved headline earnings from the manganese division, ARM Coal, Modikwa... 

Hammer divests of Mt Isa projects

By: Esmarie Swanepoel     16th March 2018 Junior explorer Hammer Metals has taken the decision to divest of its Mt Dorothy and Cobalt Ridge tenements, in Queensland. The company on Friday announced a letter of intent with TSXV-listed Global Energy Metals Corporation (GEMC) to divest of its interest in the eight non-contiguous sub blocks... 

Despite bitcoin craze, bullion unlikely to lose its status as a major investment vehicle – economist

By: Nadine James     16th March 2018 Although some economists regard cryptocurrencies – bitcoin being the most popular – as a fad, others, such as Nascence Advisory director and economist Xhanti Payi, remain open-minded, unwilling to write off a potentially disruptive technology with massive implications for global economic... 

Despite bitcoin craze, bullion unlikely to lose its status as a major investment vehicle – economist

Relaxed export, production quotas an 'inflection point' for Chile's lithium industry

By: Henry Lazenby     16th March 2018 In the days following conservative billionaire Sebastian Pinera being sworn in as president of Chile for a second term on Sunday, the new government is signalling a more relaxed approach to the hot-button issue of lithium production and exports. This week's announcement that the Chilean Nuclear... 

Relaxed export, production quotas an 'inflection point' for Chile's lithium industry

Kinross adopts new 'poison pill'

By: Henry Lazenby     16th March 2018 Dual-listed miner Kinross Gold has adopted a new shareholder rights plan to replace the expiring existing document from March 29, the company announced on Thursday. The new plan will ensure that Kinross and its shareholders continue to receive the benefits associated with the current shareholder... 

Venezuela gold reserve value falls 14% in 2017

By: Reuters     16th March 2018 Gold held by Venezuela's central bank fell 14% in value in 2017 compared with the previous year, according to the bank's financial statement. Gold represents just under 70% of the bank's international reserves, which at the end of 2017 totaled $9.67-billion. 

ETF holders draw palladium with lease rate double bond yield

By: Bloomberg     16th March 2018 For all the talk about rising US interest rates damping the allure of precious metals, palladium is proving to be a profitable asset to own. Borrowers pay holders of palladium 6% to use the metal for a week, data compiled by Bloomberg show. While that’s little changed this year, the lease rate... 

Glencore, Randgold mines quit Congolese industry body ahead of govt talks

By: Reuters     16th March 2018 Mines run by Glencore, Randgold Resources and three other international companies have quit the Democratic Republic of Congo's chamber of commerce, saying the industry body does not adequately represent their interests after the introduction of a new mining law. The miners said in a joint... 

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

New mine to help K+S post significant earnings gain in 2018

By: Reuters     15th March 2018 German potash miner K+S vowed to increase earnings significantly this year, as it ramps up production at its new Bethune mine in Canada and after overcoming temporary restrictions on waste water at its main domestic mine. Revenues would be tangibly higher and earnings before interest, taxes,... 

Sundance Energy unveils $221m Eagle Ford buy

By: Esmarie Swanepoel     15th March 2018 ASX-listed Sundance Energy has reported a $221.5-million acquisition and a $260-million capital raise. The company on Thursday announced the acquisition of 21 900 acres and 1 800 bbl/d of oil equivalent in the Eagle Ford Shale, on trend with the company’s existing core McMullen, Atacosa, LaSalle... 

Sundance Energy unveils $221m Eagle Ford buy

Poplar Grove delayed by four weeks

By: Esmarie Swanepoel     15th March 2018 The construction of the Poplar Grove coal mine, in the Illinois basin, Kentucky, has been delayed by four weeks, owing to severe weather conditions. Project developer Paringa Resources said on Thursday that unseasonably heavy rains had resulted in some of the worst flooding in 20 years in the... 

First Cobalt buys Idaho explorer in race to tap battery boom

By: Bloomberg     15th March 2018 First Cobalt is seeking to speed up its timetable to begin producing cobalt, riding the wave of interest in the metal used in electric-vehicle batteries and smartphones. The Vancouver-based exploration company agreed to buy explorer US Cobalt, which has properties in Idaho, in an all-stock deal... 

Oliphant talks up Mantashe's mining pedigree in Toronto

By: Henry Lazenby     15th March 2018 South Africa's Deputy Mineral Resources Minister Godfrey Oliphant talked up the mining pedigree of newly installed Minister Gwede Mantashe during the recent Prospectors and Developers Association of Canada's annual convention, held in Toronto. "His previous mining experience is an advantage for... 

Oliphant talks up Mantashe's mining pedigree in Toronto
Photo by Henry Lazenby
SA Deputy Mining Minister Godfrey Oliphant holds a gold casting of former President Nelson Mandela's hand during the 2018 PDAC convention, in Toronto

Paradigm shift required to position mining industry for long-term success

By: Henry Lazenby     15th March 2018 The long-term mindset of the mining industry will have to change to position itself for long-term success, set against an ever-changing landscape, says BHP Billiton's head for Minerals America, Daniel Malchuck. He told an audience during the keynote session of the recent Prospectors and... 

Paradigm shift required to position mining industry for long-term success
Photo by BHP Billiton
Escondida, Chile

Fission's latest drill results mark steady high-grade march westward as PLS expands

By: Henry Lazenby     14th March 2018 The final four drill holes of Fission Uranium's winter exploration campaign on the R1515W zone, at its Patterson Lake South (PLS) property, in Canada's Athabasca Basin region, have all returned mineralised intercepts, with three holes encountering high-grade radioactivity. At shallow depth,... 

Fission's latest drill results mark steady high-grade march westward as PLS expands

RNC's Mark Selby dispels myths regarding nickel demand as new EV markets beckon

By: Henry Lazenby     14th March 2018 Tightening long-term fundamentals for nickel are sketching a rosy picture for the stainless steel-making ingredient, as increased dependence from the burgeoning electric vehicle (EV) market adds a growing new demand stream in an already constrained supply scenario. RNC Minerals president and CEO... 

RNC's Mark Selby dispels myths regarding nickel demand as new EV markets beckon
Photo by Reuters
Nickel ore

Anglo commits to ambitious sustainability strategy

By: Martin Creamer     14th March 2018 Diversified mining company Anglo American has outlined an innovative approach to three major areas of sustainability - the environment, community development, and driving greater trust and transparency across the mining industry. 

Anglo commits to ambitious sustainability strategy
Photo by Creamer Media
Mark Cutifani

Anglo says cleaning up mining will earn it billions in profit

By: Bloomberg     14th March 2018 Mining is a dirty business, but Anglo American CEO Mark Cutifani says it doesn’t have to be. The miner of everything from copper to diamonds to iron ore is overhauling its sustainability targets, and predicts it can earn an extra $9-billion through 2030 by improving the way it mines and boosting... 

Anglo says cleaning up mining will earn it billions in profit
Photo by Creamer Media
Anglo American CEO Mark Cutifani

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