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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

Mkango pockets £242 000 windfall on warrant exercise

By: Henry Lazenby     25th November 2017 TSX-V- and LSE Aim-listed Mkango Resources has reported that 3.86-million warrants have been exercised, booting its coffers by about £242 000. A total of 3.45-million warrants were exercised at a price of 6.6 pence apiece and a further 418 000 warrants were exercised at a price of 3.5 pence each. 

BMW joins race to secure cobalt for EV batteries

By: Bloomberg     24th November 2017 With one eye on accelerating demand for electric vehicles, BMW AG said it’s talking to suppliers of cobalt and other battery materials amid fears that stocks will run short and push already inflated prices higher. Sourcing of cobalt and other materials is “the most important” question BMW has to... 

Agromining may provide new opportunities to extract remaining value from mined land

By: Mia Breytenbach     24th November 2017 With a significant portion of large mineral deposits having been discovered worldwide, and, in many cases, reaching the end of viable economic recovery, phytomining is one option that could be chosen to extract the remaining value from this mined ground, Florida International University... 

Agromining may provide new opportunities to extract remaining value from mined land

Semafo chairperson passes

By: Henry Lazenby     24th November 2017 West Africa-focused gold miner and regional explorer Semafo announced the sudden passing of its chairperson Jean Lamarre on Wednesday, following a short illness. Lamarre joined the company’s board in 1997 and was appointed chairperson in 2000, a position he held until his demise. 

Maverix picks up royalty on Endeavour’s Karma mine

By: Henry Lazenby     24th November 2017 Royalty vehicle Maverix Metals will acquire an existing 2% net smelter return (NSR) royalty from a third-party seller, on Endeavour Mining’s 90% interest in the Karma gold mine, in Burkina Faso, for $20-million in cash. The mine and surrounding tenements were acquired by Endeavour from True Gold... 

Silvercorp to repurchase 5% of outstanding equity

By: Henry Lazenby     24th November 2017 China-focused precious metals miner Silvercorp Metals has announced a normal course issuer bid for up to 5% of its outstanding equity. The company aims to repurchase 8.4-million of the total of 168.19-million outstanding shares, as at last Thursday. The share buyback programme will run for 12... 

Mining midmarket enterprises lead gross value-add metric in Canada – HSBC

By: Henry Lazenby     24th November 2017 Mining-focused midmarket enterprises (MMEs) are the leading contributors to gross value-add (GVA) to Canada’s economy, a new report by international banking group HSBC has found. Published on Thursday, and authored by HSBC and Oxford Economics, the ‘Entrepreneurial heartland of MMEs' report found... 

Codelco reports strong Q3 profit as lower costs offset falling grades

By: Henry Lazenby     24th November 2017 The world’s largest copper producer, Chilean State-owned miner Codelco, has reported a strong third-quarter net profit of $1.6-billion, an improvement of more than three times on the loss posted for the same period a year earlier. Executive president Nelson Pizarro attributed the strong... 

Codelco reports strong Q3 profit as lower costs offset falling grades
Photo by Codelco
Codelco executive president Nelson Pizarro

LSC to acquire Alqa Lihtium, add 2 595 ha in the Salar de Salinas Grandes

By: Henry Lazenby     23rd November 2017 Lithium exploration junior LSC Lithium has entered into a binding contract to acquire all of the outstanding equity of Alqa Lithium, which owns a 100% stake in the Mina Teresa project that comprises 2 595 ha in the Salar de Salinas Grandes, in Jujuy province, Argentina. Under terms of the... 

MetalsTech cobalt spinout to list on ASX next year

By: Mariaan Webb     23rd November 2017 Lithium-focused MetalsTech on Thursday announced the potential spinout of its cobalt business and said its subsidiary had secured an option to buy a high-grade cobalt/silver mine in Ontario. MetalsTech, which is headquartered in Western Australia, but has projects in Quebec and Ontario, said it... 

Santacruz restarts Veta Grande mill

By: Henry Lazenby     23rd November 2017 TSX-V-listed Santacruz Silver Mining has restarted operations at its Veta Grande mill, located in Zacatecas state, Mexico. The mill had been standing idle since November 3, when the Mexican Environmental Protection Agency halted operations until certain licencing documentation related to the... 

Northern Vertex files PEA on expanded Moss mine plan

By: Henry Lazenby     23rd November 2017 Canadian project developer Northern Vertex has filed a preliminary economic assessment (PEA) with securities regulators examining the merit of building an expanded operation at its 100%-owned Moss gold/silver mine, in Arizona. First published in October, the PEA sets out the technical and... 

Altiplano earns half of Comet JV; starts bulk sample

By: Henry Lazenby     23rd November 2017 Exploration junior Altiplano Minerals has earned a 50% stake in the Comet Joint Venture (CJV) with Comet Exploration, which is conducting exploration on the Farellon and Maria Luisa copper/gold development projects, in Chile. Headed by John Williamson, co-founder of Kaminak Gold, which discovered... 

Altiplano earns half of Comet JV; starts bulk sample
Photo by Altiplano Minerals
Farellon mineralisation, Chile

Mountain Province records higher revenues from 9th diamond tender

By: Henry Lazenby     23rd November 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones strengthen, despite a cautious market. The Toronto-headquartered company, which has a 49% stake in the Gahcho Kué mine, in... 

Torex sets El Limon Guajes record straight as rival unions clash

By: Henry Lazenby     22nd November 2017 Canadian gold producer Torex Gold Resources has issued a press release criticising a labour union and the media for spreading misinformation regarding an incident over the weekend where two people were killed near its El Limon Guajes (ELG) mine, in Mexico. The Toronto-based company said that an... 

Sibanye share price rises on gold tailings deal with DRDGold

By: Martin Creamer     22nd November 2017 The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of... 

Sibanye share price rises on gold tailings deal with DRDGold
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman (left) and DRDGold CEO Niël Pretorius.

Gold miners shifting focus back to growth

By: Megan van Wyngaardt     22nd November 2017 While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to... 

Gold miners shifting focus back to growth

Money 'tsunami' may spur quadrupling of gold prices, McEwen says

By: Bloomberg     22nd November 2017 Gold has bottomed out, according to one of the industry’s biggest bulls. Prices could surpass $5 000/oz in five years, from about $1 280 now, as investors seek returns amid a prolonged period of cheap money and use the metal as a haven from geopolitical and financial risk, McEwen Mining CEO Rob... 

Money 'tsunami' may spur quadrupling of gold prices, McEwen says
McEwen Mining CEO Rob McEwen

Canadian federal agency rejects NGO complaint regarding KSM project permitting process

By: Henry Lazenby     21st November 2017 A Canadian federal agency has rejected a request for review (RfR) by nongovernmental organisation (NGO) the Southeast Alaska Conservation Council (SEACC) of the permitting process regarding Seabridge Gold’s Kerr-Sulphurets-Mitchell (KSM) project, in British Columbia. The Canadian National Contact... 

TransCanada’s Keystone XL pipeline clears key hurdle despite oil leak incident

By: Henry Lazenby     21st November 2017 Oil and gas pipelines operator TransCanada is reviewing a decision by the Nebraska Public Service Commission (PSC) approving an alternative route for the proposed Keystone XL (KXL) pipeline project through the state. "As a result of today's decision, we will conduct a careful review of the PSC’s... 

TransCanada’s Keystone XL pipeline clears key hurdle despite oil leak incident

PEA delivers encouraging results for GoviEx’s Mutanga

By: Megan van Wyngaardt     21st November 2017 A recently completed preliminary economic assessment (PEA) at TSX-V-listed GoviEx Uranium’s Mutanga project, in Zambia, has shown that the project can produce 2.4-million pounds a year of triuranium octoxide (U  3  O 8  ) yellowcake over an initial 11-year mine life. The study has also shown that... 

Glencore sees nickel in best shape in decade before EVs take off

By: Bloomberg     21st November 2017 Glencore is seeing the best market conditions for nickel in at least a decade, and electric cars are barely playing a part yet. The miner and trading giant expects nickel’s 2017 deficit at 170 000 metric tons -- one of the biggest in years and more than most market estimates – to be driven by a... 

Altus to acquire Legend Gold

By: Anine Kilian     21st November 2017 Aim-listed Altus Strategies has executed a definitive binding agreement to acquire TSX-V-listed Legend Gold, which holds a portfolio of prospective gold exploration projects in western and southern Mali. It has offered Legend shareholders three of its shares for every Legend share held. 

Samco Gold to sell all shares in Argentina subsidiary

By: Anine Kilian     21st November 2017 TSX-V-listed Samco Gold sold its shares in its wholly owned Argentine subsidiary 5R to certain shareholders of the company in exchange for the return for cancellation of 18.450-million common shares in Samco’s capital . 5R is the registered titleholder of the El Dorado Monserrat properties in... 

Union urges Canadian government to stand up for Mexican mineworkers’ rights

By: Anine Kilian     21st November 2017 The murders of two striking mineworkers at a Canadian-owned mine in Mexico last week underscores the widespread repression of basic labour rights in Mexico – even when the employer is Canadian, according to the trade union United Steelworkers (USW). The USW was referring to an armed group who, on... 

New Gold sells Peak mines for $58m

By: Anine Kilian     21st November 2017 TSX-and NYSE-listed intermediate gold miner New Gold has entered into a binding agreement with ASX-listed Aurelia Metals to sell its Peak mines in Cobar, New South Wales, Australia for a cash consideration of $58-million. Aurelia intends to fund the transaction through a combination of an... 

Cobalt One shareholders approve merger with First Cobalt

By: Anine Kilian     21st November 2017 Junior cobalt miner Cobalt One’s shareholders have approved a merger with Toronto-based First Cobalt, which means that the companies are one step closer to creating the largest pure-play cobalt company in the world. Cobalt One announced on Monday that 99.995% of the shareholders’ votes were in... 

WPIC forecasts yet another platinum deficit in 2018

By: Megan van Wyngaardt     21st November 2017 A global platinum deficit of 275 000 oz is expected in 2018, further reducing the availability of above ground stocks of the metal, which have contributed about 2.5-million ounces in the last year, the World Platinum Investment Council (WPIC) said on Monday. “[This] represents the sixth year that... 

WPIC forecasts yet another platinum deficit in 2018
WPIC research director Trevor Raymond

Glencore CFO to assist Katanga in strengthening its corporate governance

By: Natasha Odendaal     20th November 2017 JSE- and LSE-listed Glencore has nominated three directors, including its CFO Steve Kalmin, to serve on the board of subsidiary company, TSX-listed Katanga Mining. The three directors will work with Katanga’s independent directors to implement the required remediation measures to strengthen... 

Glencore CFO to assist Katanga in strengthening its corporate governance
Glencore CFO Steve Kalmin

India's US coal imports highest since 2015, seen up further on ban

By: Reuters     20th November 2017 India's coal imports from North America quadrupled to 2.1-million tonnes in October from a year ago, the highest since at least January 2015, Thomson Reuters data showed, and buyers are looking to boost purchases amid a domestic shortage of the fuel. A ban on the use of petroleum coke, a dirtier... 

SouthGobi CEO arrested as concern over Hong Kong's stocks rises

By: Bloomberg     20th November 2017 Mongolian coal producer SouthGobi Resources’ CEO was detained in China as a suspect in a fraudulent loan case, the latest Hong Kong-listed company linked to allegations of misconduct. SouthGobi shares fell as much as 13.6%, the most in four months, to the lowest level in more than a year on the... 

Operations at Santacruz’s Veta Grande Mill temporarily suspended

By: Samantha Herbst     20th November 2017 The Mexican Environmental Protection Agency (Profepa) has issued a notice temporarily suspending operations at TSX-V-listed Santacruz Silver Mining’s Veta Grande Mill until appropriate documentation has been filed with regulatory bodies confirming that Santacruz’s Mexican operating subsidiary,... 

Copper Mountain to acquire Altona in A$93m deal

By: Megan van Wyngaardt     20th November 2017 TSX-listed Copper Mountain Mining Corporation (CMMC) on Monday announced that it would buy ASX-listed Altona Mining for A$93-million, giving the company access to the undeveloped Cloncurry copper project, in Queensland. The project holds a measured and indicated mineral resource containing more... 

Copper Mountain to acquire Altona in A$93m deal

Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Sampling confirms lithium in Namibia – Montero
Montero CEO Dr Tony Harwood

Corsa sees sales volume growth for sixth consecutive quarter

By: Anine Kilian     17th November 2017 Even though the global supply chain for metallurgical coal remains challenged and prone to disruption, strong steel pricing and production levels have helped to sustain a high level of demand for raw materials, which include metallurgical coal, according to Corsa Coal CEO George Dethlefsen. In a... 

Galantas highlights need to secure sufficient funding

By: Megan van Wyngaardt     17th November 2017 Following disappointing results for the third quarter ended September 30, dual-listed miner Galantas Gold Corporation on Friday said its future viability depended on the consolidated results of its wholly-owned subsidiary Cavanacaw Corporation, which holds 100% in Galantas’ Omagh Minerals and... 

Avesoro starts drilling programme at New Liberty

By: Megan van Wyngaardt     17th November 2017 Four diamond drill rigs have been mobilised to dual-listed Avesoro Resources’ wholly owned New Liberty mine, in Liberia, where a 14 000 m diamond core drilling campaign has started. The campaign is targeting an area of the New Liberty resource model containing an inferred mineral resource of some... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for change

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