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North America News

Mongolia anti-corruption agency targets Rio Tinto unit over Oyu Tolgoi

By: Esmarie Swanepoel     14th March 2018 Diversified major Rio Tinto is facing more scrutiny into its business dealings, this time from the Mongolian Anti-Corruption Authority (ACA), which has requested financial information from Rio subsidiary Turquoise Hill Resource regarding the Oyu Tolgoi project. Turquoise Hill told shareholders... 

Chile attempts to block China from prize lithium asset

By: Reuters     14th March 2018 Chile's government has asked antitrust regulators to block the sale of a 32% stake in Chilean lithium company SQM to a Chinese firm on the grounds it would give it an unfair advantage in the global race to secure resources to develop electric vehicles. Chile development agency Corfo, which... 

Trevali's African assets shine as strong Q4 marks year in the black

By: Henry Lazenby     14th March 2018 Zinc producer Trevali Mining's fourth-quarter performance has sealed a positive year for shareholders, rewarding them with profit as the company's expansion into Africa pays off. The Vancouver-headquartered company reported net income of $25.2-million, or $0.03 a share, up 260% from $7-million,... 

A year of two truths for zinc as new supply responds to tight market

By: Henry Lazenby     14th March 2018 This calendar year is expected to tell a tale of two outcomes for zinc as tight first-half concentrates and declining metal stocks contrast against new supply coming on stream and building concentrate levels. CRU Group analyst Ryan Cochrane foresees the real cash price of zinc building towards a... 

A year of two truths for zinc as new supply responds to tight market

Only about 60% of potential new gold supply incentivised at $1 300/oz

By: Henry Lazenby     13th March 2018 Only about 60% of potential new gold supplies are incentivised for a 12% internal rate of return, at a gold price of $1 300/oz, Wood Mackenzie (WoodMac) analyst Vince Madden-Scott told an audience during a recent mining convention, in Toronto. This spells a grim picture for an industry that is... 

Only about 60% of potential new gold supply incentivised at $1 300/oz

China's enviro policies, EV growth two megatrends to boost most commodities

By: Henry Lazenby     13th March 2018 Chinese actions in recent years to embrace temporary production cuts and enforce stricter environmental regulations are probably here to stay for the long term and have already disrupted a range of commodities, including coal, aluminium, lithium and cobalt production chains. Commodity research... 

China's enviro policies, EV growth two megatrends to boost most commodities
Photo by Bloomberg
Cobalt metal nuggets

Tsodilo says DMS plant delivering results

By: Megan van Wyngaardt     13th March 2018 TSX-V-listed Tsodilo Resources has processed 724.7 t through the dense media separation (DMS) plant at its BK16 kimberlite project in Botswana, since commissioning the plant on January 18. This represented 141 samples out of a total of 243 or 6% of the tonnage. These 141 samples have generated 2... 

Endeavour FY17 earnings fall 33% y/y

By: Marleny Arnoldi     13th March 2018 Gold miner Endeavour Mining’s adjusted net earnings decreased by 33% year-on-year to $66-million for the year ended December 31, from $99-million in the prior year. 

Hydrogen transport proposed for opencast mines

By: Martin Creamer     13th March 2018 Hydrogen transportation technology would be useful in large opencast mines, where a number of haul trucks operate in a limited radius, says RTS Africa Engineering MD Ian Fraser. Such an application could serve as a stepping stone to the realisation of the value of hydrogen technology in... 

Hydrogen transport proposed for opencast mines
Ian Fraser

New Congolese mining code rattling mining companies

By: Megan van Wyngaardt     13th March 2018 Beyond raising costs for domestic miners, a new mining code signed into law by Congolese President Joseph Kabila last week, poses downside risks to the investment outlook of the country’s mining industry over the coming years, as a result of heightened government intervention and regulatory... 

Coal, rapid loadout projects under construction - Exxaro 

By: Martin Creamer     13th March 2018 Diversified mining company Exxaro Resources, which began a R13-billion coal expansion programme in the second half of last year, has three coal projects and a rapid loadout station under construction, and is at the ready to develop another two coal projects, pending Department of Energy and Eskom... 

Coal, rapid loadout projects under construction - Exxaro
Exxaro Resources executive head of coal operations Nombasa Tsengwa speaks to Mining Weekly Online’s Martin Creamer, Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer

As copper booms, miners take hunt to Mongolian dunes

By: Reuters     13th March 2018 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant... 

As copper booms, miners take hunt to Mongolian dunes
Photo by Rio Tinto
Ancient petroglyphs from Javkhlant rock, near the Oyu Tolgoi project area in Mongolia.

Dateline expands holdings in Colorado

By: Esmarie Swanepoel     13th March 2018 Metals explorer Dateline Resources has agreed to acquire the Raymond and Carter gold mines, in Colorado, adding about 1 300 acres of freehold land to its holdings. The company will purchase the freehold properties for $2-million in cash, with settlement expected within the next three months. 

Investors hunting cobalt deals approached Sherritt, CEO says

By: Bloomberg     13th March 2018 Sherritt International has been approached by investors seeking to buy a share of its cobalt production as a way of gaining exposure to the red-hot battery metal, the Canadian miner’s CEO said. Cobalt is rapidly becoming an investor darling as expectations of a shortage driven by the growth of... 

Canada's Trudeau tells metal workers: 'We have your backs'

By: Reuters     13th March 2018 Canadian Prime Minister Justin Trudeau promised aluminium and steelworkers on Monday he would defend them against possible US tariffs and called US President Donald Trump to stress that "mutually beneficial" cross-border supply chains should be preserved. Trump said last week he would impose... 

Canada's Trudeau tells metal workers: 'We have your backs'

Eldorado shakes up top management team

By: Henry Lazenby     13th March 2018 Canadian miner Eldorado Gold has announced several senior management changes following the resignation of its CFO Fabiana Chubbs. Chubbs, who has been CFO since 2011, will leave the company at the end of April. Eldorado said it has started a search for her successor. 

Diamcor seeks more project efficiencies as Krone-Endora at Venetia water runs low

By: Henry Lazenby     13th March 2018 Explorer Diamcor Mining has launched a nonbrokered private placement worth C$5-million in an effort to address the insufficient recoveries of water from the settling dams at its Krone-Endora at Venetia project, in South Africa's Northern Cape province. The TSX-V-listed miner is finalising... 

eCobalt appoints process manager

By: Creamer Media Reporter      13th March 2018 eCobalt Solutions is accelerating the development of its flagship Idaho project with the appointment of Darby Stacey as the mill and processing manager. Stacey will be responsible for leading all of the company's mineral processing and metallurgical activities in the historic Idaho Cobalt Belt,... 

Monarques closes C$5m financing with Ressources Québec

By: Henry Lazenby     12th March 2018 Emerging gold producer Monarques Gold has announced the closing of a C$5-million financing with Ressources Québec. The Montreal-based miner said it has successfully completed a nonbrokered private placement of 12.82-million units at C$0.39 each. 

Drilling starts on Thor's Senegal assets

By: Henry Lazenby     12th March 2018 Toronto-quoted exploration junior Thor Explorations has puller the trigger on an 8 000 m reverse circulation (RC) drilling programme on its Douta project, in south-east Senegal. This programme follows on from its successful 2017 RC drilling programme that had identified a number of wide,... 

Drilling starts on Thor's Senegal assets
Photo by Thor Explorations
Thor Explorations starts drilling at Douta, Senegal

Gold-standard rules sought by billion-euro bitcoin broker

By: Bloomberg     12th March 2018 Bitcoin should be regulated similar to gold – which benefits from simpler compliance rules than stocks or bonds – according to Austria’s biggest broker of the digital token. While cryptocurrency transactions in the European Union above €10 000 should be subject to anti-money laundering rules,... 

EU says expects contacts, no formal talks with US on tariffs this week

By: Reuters     12th March 2018 The European Commission said it expected to be in contact with the US over steel and aluminium tariffs this week, but added that no formal talks were scheduled. "No meetings as such are planned at the moment between US and EU authorities," a spokesman for the European Commission told a regular... 

Coal miner Exxaro declares innovation an imperative 

By: Martin Creamer     12th March 2018 Coal mining company Exxaro Resources, which sees modernisation and innovation as imperatives, will this year announce new partnerships to ensure that it remains sustainably competitive going into the future. The Johannesburg Stock Exchange-listed black-led company, which has already met... 

Coal miner Exxaro declares innovation an imperative
Exxaro Resources CEO Mxolisi Mgojo talks to Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

Continental Gold intensifies focus on Buriticá advancement

By: Megan van Wyngaardt     12th March 2018 TSX-listed Continental Gold will focus on completing detail engineering and finalising major mill and infrastructure procurement in the year ahead, to advance its Buriticá project, in Colombia, to its first gold pour in 2020. “We want to be well advanced with both earthworks and concrete work,... 

Teck Resources lowers Q1 met coal sales guidance

By: Anine Kilian     12th March 2018 Canadian metals and mining company Teck Resources has lowered its metallurgical coal sales guidance for the first quarter of this year to six-million tonnes. It had previously expected coal sales to be between 6.3-million and 6.5-million tonnes. 

Sarama increases previously announced placement to C$4m

By: Anine Kilian     12th March 2018 TSX-V-listed Sarama Resources has increased its previously announced private placement from C$3-million to C$4-million, owing to strong support from existing shareholders and new investors. The company has increased its offering to up to 40-million common shares at a price of C$0.10 a common... 

US tariff exemptions to boost Australian exports - industry

By: Reuters     12th March 2018 Australian steel and aluminium manufacturers said on Monday exports to the United States will grow after securing exemptions from tariffs signed into law by US President Donald Trump. Trump on Friday said Australia would become the third country to be free from a 25% tariff on steel imports and... 

Energy Fuels narrows FY loss

By: Creamer Media Reporter      11th March 2018 Amid continued uranium market weakness, Energy Fuels in 2017 became the largest uranium producer in the US, which president and CEO Mark Chalmers says is the culmination of a multiyear strategy for the company. The company narrowed its net loss for the year ended December 31, to $27.77-million,... 

Creditors approve Banro's recapitalisation plan

By: Creamer Media Reporter      11th March 2018 Affected creditors have approved Banro Corporation's proposed recapitalisation plan. Banro, which operates the Twangiza and Namoya mines, in the Democratic Republic of Congo (DRC), on Friday said the creditors' approval was a key step towards its implementation and the emergence of the company... 

US miners seek reversal of uranium mining ban near Grand Canyon

By: Reuters     10th March 2018 The US mining industry asked the US Supreme Court on Friday to overturn an Obama-era rule that prohibits the mining of uranium on public lands adjacent to the Grand Canyon National Park. The National Mining Association (NMA) and the American Exploration and Mining Association (AEMA) filed... 

US miners seek reversal of uranium mining ban near Grand Canyon
Photo by Bloomberg
The Grand Canyon National Park

Shareholders to vote on Mountain Province, Kennady Diamonds merger on April 9

By: Marleny Arnoldi     9th March 2018 Shareholders of TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds and exploration group Kennady Diamonds will, on April 9, take a vote on whether to approve the merger of the companies.  

Pretivm’s Brucejack delivers 141 927 oz of gold in FY17

By: Marleny Arnoldi     9th March 2018 Canadian resources company Pretivm Resources’ Brucejack mine, in British Columbia, produced 141 927 oz of gold in the year ended December 31.  

Rio Tinto's last two coal mines set to attract bids over $2.5bn

By: Reuters     9th March 2018 At least three bidders are expected to submit final offers for global miner Rio Tinto's Hail Creek and Kestrel coal mines in Australia, which could fetch up to $2.5-billion, people familiar with the process said. The Anglo-Australian mining company made a strategic decision in 2017 to exit coal... 

WTO says there is still time to discuss US tariff move

By: Reuters     9th March 2018 World Trade Organization (WTO) members still have time to discuss the US tariffs on steel and aluminium imports signed by President Donald Trump on Thursday, and it is up to them what happens next, WTO spokesperson Dan Pruzin told reporters on Friday. "Certainly there is still time to discuss... 

LME rethinks cobalt contract for electric vehicle sector

By: Reuters     9th March 2018 The London Metal Exchange has abandoned plans for a cobalt sulphate contract for the electric vehicle battery supply chain because pricing for the chemical has historically been based on the metal it is derived from, cobalt industry sources said. The exchange is instead looking at offering a... 

LME rethinks cobalt contract for electric vehicle sector

Leagold’s Los Filos delivers Q4 production of 53 446 oz

By: Nadine James     9th March 2018 TSX-listed Leagold Mining’s Los Filos mine, in Mexico, produced 53 446 oz of gold at an all-in sustaining cost (AISC) of $910/oz in the fourth quarter of 2017.  The company bought the mine from Goldcorp in April 2017. 

Detour Gold lifts FY17 earnings

By: Marleny Arnoldi     9th March 2018 Canadian intermediate gold producer Detour Gold posted net earnings of $88.2-million for the year ended December 31, compared with a net loss of $6.9-million in 2016.  

Guatemala court requests more information before making Escobal ruling

By: Marleny Arnoldi     9th March 2018 Mining company Tahoe Resources has been informed that the Constitutional Court of Guatemala has requested additional information in the legal case against the company’s Escobal mining licence for its silver mine located east of San Rafael Las Flores, in the south of Guatemala.  

Guatemala court requests more information before making Escobal ruling
Tahoe Resources' Escobal mine

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