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‘Quiet’ quarter prompts more cautious outlook for Cameco

By: Henry Lazenby Canadian uranium producer Cameco has reported a “very quiet” first quarter during which it swung to an adjusted loss of C$7-million, or C$0.02 a share, compared with earnings of C$69-million, or C$0.18 a share a year earlier. For the three months ended March 31, revenues fell 28% year-over-year... 

Emphasis on opportunities in harsh business climate

By: Simon Sonnekus The West African Mining & Power Exhibition (Wampex) 2016 will showcase the opportunities that still exist in the challenging African market, says events company and organiser dmg-ems Africa VP Christine Davidson. The biennial event, which has been running for 22 years, will return to the Accra... 

Emphasis on opportunities  in harsh business climate
GLOBAL ATTRACTION Between 50 and 100 companies are expected to attend, with exhibitors from China, the UAE, France, Poland, South Africa, the UK and Turkey confirmed

Society aims to integrate more students into mining sector

By: Kimberley Smuts The University of Witwatersrand's Students Mining Engineering Society (SMES) aims to increase the integration of mining engineering graduates into the mining industry this year, as well as to encourage mining engineering students to have an opinion on mining-related issues in South Africa. SMES... 

Society aims to integrate more students into mining sector
FORTUNE MSIBI Mining engineering students face the challenge of a lack of available jobs in the sector, as a result of South Africa’s financial crisis

Sherritt widens headline loss as low oil, metals prices hurt Q1 financials

By: Henry Lazenby Diversified miner Sherritt International has reported a 79% wider adjusted loss year-on-year in the first quarter, as nickel, cobalt and oil prices have plunged during the period. Excluding special items of about C$79.1-million, Toronto-based Sherritt recorded an adjusted loss of... 

Indonesia estimates value of Freeport unit two-thirds below offer

By: Reuters Indonesia has proposed a value for a 10.64% stake in Freeport-McMoran's local unit that is about two-thirds below the figure the company proposed in January. Copper miner Freeport's unit is valued at about $630-million and the US-based parent has been asked to revise its offer, an Indonesian... 

With permits in hand, Mexus starts mine construction

By: Henry Lazenby US exploration firm Mexus Gold US has received all environmental and mining permits required to start work on the area that will become Mexus’ openpit heap leach mine on the Julio/Santa Elena property, located 54 km northwest of Caborca, Mexico. The company advised on Monday that it would clear... 

Market slowdown sinks Precision Drilling’s Q1 performance

By: Henry Lazenby A marked decline in business activity during the quarter ended March 31 has pushed North American oil and gas industry services provider Precision Drilling’s earnings into negative territory, forcing it to suspend its dividend. The Calgary, Alberta-based company on Monday reported that activity... 

Despite some commodity price spillover, Caterpillar lowers 2016 midpoint outlook

By: Henry Lazenby US earthmoving machinery manufacturer Caterpillar on Friday lowered the midpoint of the outlook for 2016 sales and revenues by about 2% on Friday, despite reporting some signs of improvement. The profit outlook at the midpoint of the sales and revenues range was now $3 a share, or $3.70 a share... 

Despite some commodity price spillover, Caterpillar lowers 2016 midpoint outlook

Alecto Minerals secures partners for Zambia gold project

By: David Oliveira Gold and base metals exploration and development company Alecto Minerals earlier this month signed an agreement with Chinese mining equipment manufacturer Yantai Xinhai Machinery and South Africa-based turnkey solutions provider PenMin for the proposed construction and financing of mining... 

Industry body eyes ongoing partnership with municipal govt

By: Sascha Solomons Industry body Consulting Engineers South Africa (Cesa), a voluntary organisation of consulting engineering firms, plans to partner with government entities on a municipal level in the long term to tackle challenges such as a lack of technical personnel and poor service delivery. “Cesa wants to... 

Industry body eyes  ongoing partnership with municipal govt
CHRIS CAMPBELL Partnership with governmet entities could tackle service delivery challenges

Mining industry stands a chance through risk mitigation

Integrated engineering projects company DRA Group CEO Paul Thomson notes that to mitigate risks for investors and mining companies, he recommends investment in consulting engineers with experience, pedigree and a good track record, which will save mining companies thousands in execution. “Mining... 

Mining industry stands  a chance through risk  mitigation
Photo by Bloomberg
RISK MITIGATION Everyone suffers when a mine or project fail to be built

Rio Tinto’s Oyu Tolgoi lifts gold guidance after strong start to 2016

By: Henry Lazenby Rio Tinto subsidiary Turquoise Hill Resources, which owned a 66% interest in the significant Oyu Tolgoi copper/gold mine, in Mongolia, on Tuesday said the mine’s first quarter performance was so strong, that it hiked its full-year production guidance. For the three months ended March 31,... 

Lithium juniors outperform on expected future demand 

By: Henry Lazenby In the wake of Tesla Motors' introduction of the 'Model 3' mass market electric vehicle (EV), lithium development and exploration company share prices have exploded. This was despite Tesla not having sold (or even built) a single Model 3 yet. Tesla would also not have it on the road for years,... 

Lithium juniors outperform on expected future demand
Electric vehicles charging

Excellon on the up as Q1 output rises

By: Henry Lazenby Mexico’s highest-grade silver producer Excellon Resources on Monday rose to a new 52-week high on the TSX, after it reported strong results for the quarter ended March 31. Toronto-based Excellon, which operated the high-grade La Platosa mine, in Durango state, reported that silver equivalent... 

Denham Capital seeks upside advantage during downturn

By: Simon Rees With most metals reaching a bottom, and many of the ‘zombie juniors’ finally laid to rest, opportunities for private-equity companies to find value and upside potential in the mining space have continued to grow. Seeking to tap into these opportunities, private equity firm Denham Capital was... 

Denham Capital seeks upside advantage during downturn

Chile's Codelco says El Teniente mine still shut due to rains

By: Reuters Chilean state-owned miner Codelco said on Monday that operations at its El Teniente copper mine would likely be suspended until Thursday because of torrential rains over the weekend that triggered landslides and caused rivers to breach their banks. The heavy rains, which continued on Monday and... 

Canadian enviro agency invites comments on Northcliff’s tungsten/moly play

By: Henry Lazenby A 30-day comment period has started for TSX-listed Northcliff Resources’ majority-owned Sisson tungsten/molybdenum project. The Canadian Environmental Assessment Agency (CEAA) had progressed its permit application to the public comment phase, signalling a significant milestone in the... 

Fortune's board welcomes former NT minister

By: Henry Lazenby TSX-listed project promoter Fortune Minerals has appointed former minister of the Northwest Territories government (GNWT) David Ramsay to the company's board. 

Ontario once more budgets a billion for RoF development, private sector takes action

By: Henry Lazenby For the third consecutive year, the Liberal Ontario government has made a C$1-billion commitment toward development in the emerging Ring of Fire (RoF) nickel/chromite mining camp, in the province’s remote far north. The RoF presented a multigenerational economic opportunity for the province, with... 

Ontario once more budgets a billion for RoF development, private sector takes action

Lower Chinese demand, oversupply two main factors impacting on mining sector

By: Dylan Slater A dramatic change in the operation of mines has recently taken place and continues to take place as the industry seeks to aligning itself with new market demands and overcome supply issues.  

Venezuela says $1.4bn Crystallex award 'unfair'

By: Reuters Venezuela said on Thursday that a $1.4-billion award to Canada's Crystallex International for the expropriation of a mining project was "unfair and disproportionate". The World Bank's International Centre for Settlement of Investment Disputes this month ordered Venezuela to pay the sum as... 

Venezuela says $1.4bn Crystallex award 'unfair'

Vanadiumcorp launches vanadium electrolyte process partnership

By: Henry Lazenby Project developer Vanadiumcorp has entered into discussions with interested parties including academia, energy storage companies, government organisations, vanadium industry professionals and independent contractors as it seeks to develop favourable metallurgy and processing of material from its... 

Vale prepares joint bid with Apollo for Anglo's Brazil fertiliser business – sources

By: Reuters Brazilian miner Vale is teaming up with US private equity firm Apollo to bid for Anglo American's niobium and phosphates business in Brazil, three sources familiar with the matter said on Tuesday. A sale of the assets, used for making fertilisers, could fetch around $1-billion for Anglo American. 

Largo announces management shake-up

By: Henry Lazenby Vanadium producer Largo Resources has announced several management changes as it continued to improve operations at its flagship Maracás Menchen mine, in Brazil. The TSX-V-listed company announced Monday that Paulo Misk had been promoted to president of Brazilian operations of subsidiary Vanadio... 

Lithium Americas aligns with key strategic market movers

By: Henry Lazenby Mere weeks after forming a 50/50 joint venture (JV) with global chemicals company Sociedad Química y Minera de Chile (SQM) to develop the significant Cauchari-Olaroz lithium project in Jujuy, Argentina, Canadian project developer Lithium Americas (LAC) has signed a nonexclusive memorandum of... 

Lithium Americas aligns with key strategic market movers

Alcoa beats expectations, despite layoffs and narrower Q1 earnings

By: Henry Lazenby US metals company Alcoa on Monday reported a 70% drop in headline earnings, mainly owing to a 40% dip in the Alumina Price Index (API) and a 26% drop in aluminium pricing. The NYSE-listed specialty alloys maker reported adjusted earnings of $108-million, or $0.07 a share, excluding the impact of... 

Alcoa beats expectations, despite layoffs and narrower Q1 earnings
Photo by Bloomberg
Alcoa reported first quarter revenues of $4.9-billion, down 15% from $5.8-billion in the first quarter of 2015

Fortune closes second tranche of financing as NWT road permitting gets under way

By: Henry Lazenby While TSX-listed project developer Fortune Minerals has closed the second tranche of a C$1-million financing for general working capital purposes, the transportation department of Northwest Territories government (GNWT) has submitted permit applications to build a public highway to the community... 

Geoscience BC looking for trace metals in tree tops

By: Henry Lazenby Nonprofit organisation Geoscience BC has employed a novel geochemical exploration technique sampling coniferous tree tops to investigate the geology and mineral potential of a 24 000 km2 swath of Central British Columbia. As part of its C$4-million multidisciplinary ‘Targeting Resources through... 

US small cap funds shine in Q1 but may have harder road ahead

By: Reuters The steep decline and subsequent rebound in the US stock market over the first three months of the year were a boon to US small cap managers, who took advantage of what some considered a short window of low prices to add shares in companies ranging from retailers to steel makers. "We went on a... 

Technology solution assists mines in reducing operating risks

By: Ilan Solomons Information advisory, execution and enablement firm Decision has designed a document management accelerator specifically tailored for the intense regulatory demands of the mining industry. The company says the solution represents a substantial step forward for governance and control, assisting in... 

Technology solution assists mines in reducing operating risks
HENRI FOURIE Document Management Mining Accelerator is in use at global mining houses’ operations, such as De Beers and Kumba Iron Ore

West African chamber to launch at Ghana mining event

The newly formed West African Chamber of Mines (Wacom), which comprises chief executives from the chambers of mines in Ghana, Mali, Sierra Leone, Liberia and Burkina Faso, will be officially launched at the twelfth West African Mining & Power Exhibition (Wampex) in June. 

West African chamber to launch at Ghana mining event
LOCATION LOCATION The West African Mining & Power Exhibition serves as a valuable platform for networking between key industry players

Resource-intensive Canadian and US states show stronger economic performance than others

By: Henry Lazenby The very strong economic performance in specific resource-intensive jurisdictions in Canada, especially Alberta and Saskatchewan, are mainly responsible for Canada’s comparatively strong overall economic record relative to the US since the recession of 2008/09, a new report by the influential... 

Mining companies falter on failure to comprehend sustainability

By: Simon Rees Companies need to think beyond environmental or socio-economic engagement when considering sustainability, Schulich School of Business programme director and Inmet chair Richard Ross told an audience at a recent meeting of the Canadian Institute of Mining’s Economic and Management Society in... 

Revised draft standard for responsible mining released for 60-day review

By: Creamer Media Reporter The Initiative for Responsible Mining Assurance (IRMA) on Tuesday released the second and revised draft Standard for Responsible Mining for a sixty-day review and public comment period, ahead of the first-ever global certification programme for industrial-scale mine sites, planned to begin in... 

Freeport cuts oil, gas officials as low prices, high debt weigh

By: Henry Lazenby In response to a challenging fossil fuels market, US-based miner Freeport-McMoRan has reintegrated its oil and gas business as an operating division of the parent company, doing away with four senior executives, with one remaining. NYSE-listed Freeport said that subsidiary Freeport-McMoRan Oil &... 

Freeport cuts oil, gas officials as low prices, high debt weigh

Nemaska stock spikes on positive updated feasibility study

By: Henry Lazenby The TSX-listed stock of project developer Nemaska Lithium on Monday spiked after the company released an updated feasibility study on the Whabouchi mine and concentrator, which will be built in the Eeyou Istchee James Bay territory, in Quebec, as well as the hydromet plant, which will be located... 

Nemaska stock spikes on positive updated feasibility study
Photo by Reuters
Lithium-ion batteries in production

Molycorp another step closer to emerging from Chapter 11 protection

By: Henry Lazenby The US Bankruptcy Court for the District of Delaware has confirmed the fourth joint amended plan of reorganisation filed by bankrupt US rare earths producer Molycorp, marking one of the final steps before the company will be able to emerge from Chapter 11 protection as a newly reorganised... 

BC’s jade industry growing as the precious gem’s popularity climbs

By: Henry Lazenby British Columbia’s jade mining industry is expanding on the back of insatiable demand from China, as producers struggle to keep up with demand for the gem-quality metamorphic green rocks. Between 1975 and 2000, the jade industry averaged about 200 t/y, but this had since ballooned to about 1 000... 

BC’s jade industry growing as the precious gem’s popularity climbs
Photo by Green Mountain Jade
The 'Polar Pride' jade boulder mined by Green Mountain Jade that went on to be carved into the world-famous 'Jade Buddha for Universal Peace', currently on an extended world tour
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