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British Columbia issues Canadian Mining quarry permit

By: Henry Lazenby The British Columbia Ministry of Energy and Mines has issued TSX-V-listed Canadian Mining with a new five-year 50 000 t/y quarry permit for its Bromley Creek zeolite mine lease, near Princeton. President and CEO Ray Paquette reported that the company had increased the reclamation security and... 

With metals slumping, investors seek miners that can weather storm

By: Reuters A slump in metals prices this week and worries over China's growth prospects have heightened investor scrutiny of whether mining companies have the ability to weather the storm ahead. China accounts for almost half of global copper demand, 70% of iron-ore consumption and vies with India to be... 

DNI Metals receives mining licence for Madagascar graphite project

By: Henry Lazenby Project developer DNI Metals has been granted a full commercial mining licence over its Vohitsara graphite project, in Madagascar. Originally classified as an artisanal mining permit when DNI acquired the property in June, the Madagascar Minister for Mines, through the national mining cadastre... 

Molycorp secures court approval for final $130m DIP financing

By: Henry Lazenby Bankrupt US rare earths producer Molycorp on Wednesday proceeded with its Chapter 11 reorganisation process and received court approval for an improved debtor-in-possession (DIP) financing package provided by Oaktree Capital Management. NYSE-listed Molycorp, which billed itself as the only global... 

TSX slumps more than 1% in gold, oil rout

By: Reuters Canada's main stock index closed sharply lower on Monday, in a broad-based rout led by a massive plunge in gold mining and energy shares, hurt by a sharp retreat in commodity prices. Gold plunged more than 4% to five-year lows as sellers in New York and China, a top consumer, dumped the precious... 

Canada’s exploration, mining industries call for government collaboration on policy priorities

By: Henry Lazenby At the seventy-second yearly conference of Canada’s Energy and Mines Ministers, the country’s exploration and mining industries on Monday lobbied for increased government attention in several challenging sector areas during the current period of economic downturn and uncertainty. The Canadian... 

Fortune Minerals inks restructuring accord with secured creditors

By: Henry Lazenby Canadian miner Fortune Minerals has entered into a two-pronged restructuring agreement with former funding partner LRC-FRSM (Lascaux) and its other secured creditors to settle its secured debt obligations. The TSX-listed company earlier this month announced that its subsidiary Fortune Revenue... 

Argentinian elections heat up as resource sectors offer country platform for recovery

By: Simon Rees It is likely that the new administration of Argentina, which heads to the polls later this year, will be more business friendly and market orientated, with mining and other natural resource sectors playing an increasingly significant role. “The money will start to flow in again once Argentina... 

Argentinian elections heat up as resource sectors offer country platform for recovery

Rickford highlights fed commitment to supporting the mining sector

By: Henry Lazenby The Canadian government's enhanced support for the mining industry through its Economic Action Plan will help ensure a thriving, dynamic mining sector that will provide jobs and growth for Canadians, Natural Resources Minister and Minister for the Federal Economic Development Initiative for... 

Namibia Rare Earths starts EIA for Lofdal project

By: Henry Lazenby Heavy rare earth project developer Namibia Rare Earths has started work on an environmental-impact assessment (EIA) for the Lofdal project, after selecting SLR Environmental Consulting to lead the study. The TSX-listed company had focused its operations in Namibia on baseline environmental... 

Project financing focused on power related resources

By: Dylan Stewart Owing to robust demand and acceptable hard currency returns, there has been a swing towards private equity funds and banks providing project financing for power-related projects in Africa in the last two years, says multinational financial services provider Barclays Africa head of natural... 

Rare earths company hopeful despite political conflict in Burundi

By: Dylan Stewart Mining exploration and development company Rainbow Rare Earths is closely monitoring events in Burundi, hoping for a peaceful resolution to political upheaval, including a failed military coup last month. 

Rare earths company hopeful despite political conflict in Burundi
WICKUS BOTHA Although the drop in commodity prices has really impacted many governments’ ability to fund big projects, Africa has to work through these economic headwinds and continue to invest in infrastructure

Switching to growth mode top priority for mining and metals companies – EY

By: Creamer Media Reporter Cyclical behaviour and short-term focused shareholders had pushed a ‘switch to growth mode’ to the top of professional services firm EY's yearly ranking of business risks in mining and metals companies globally. "A switch to growth mode, productivity improvement and access to capital are all... 

Switching to growth mode top priority for mining and metals companies – EY

TSX ends up in volatile trade; energy and utilities jump

By: Reuters Canada's main stock index erased a sharp fall to end in positive territory on Tuesday, with energy stocks rebounding with oil prices and utilities gaining on bets the Bank of Canada could cut rates next week to stimulate a struggling economy. The Toronto Stock Exchange's S&P/TSX composite index... 

Graphite price index falls 3 percentage points

By: Henry Lazenby Weak end-markets had caused finer mesh grades of graphite to slip further as summer sales failed to see a seasonal upswing, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. The Benchmark Graphite Index fell a further three percentage points in June, down... 

Fortune Minerals defaults on Colorado-based Revenue silver mine debt

By: Henry Lazenby Canadian miner Fortune Minerals has defaulted on a metals prepay agreement with its major financing partner, triggering all amounts and deliveries owing under the contract to become immediately due and payable. Fortune and its subsidiary Fortune Revenue Silver Mines (FRSMI), which owned the... 

Low-cost maintenance management system for smaller miners

By: Schalk Burger A low-cost equipment, plant and mobile asset management system uses the existing information available from machine sensors and programmable logic controllers (PLCs) to provide near real-time asset and maintenance management, says electronics engineering firm Keystone Electronic Solutions... 

Low-cost maintenance management system  for smaller miners
IVAN POPOV The system is scalable and initial costs are so low that companies can test the system and then expand it, if they get satisfactory results

Flinders to shutter Swedish operation till graphite prices improve

By: Henry Lazenby Ten months after starting production at its Woxna graphite mine and processing facility, in central Sweden, TSX-V-listed Flinders Resources will shutter the operation in anticipation of better prices. The company reported this week that despite Woxna producing graphite to grade and recovery... 

Public comment sought on Mount Polley restart application

By: Henry Lazenby The British Columbia provincial government is seeking public input to help ensure that Imperial Metals has a modern long-term remediation and restoration plan for the ill-fated Mount Polley mine in place by early next year, as the government considers allowing a temporary restart of the... 

Royal Nickel chooses Swedbank to advise on $600m bond financing

By: Henry Lazenby Base metals project developer Royal Nickel Corporation (RNC) has appointed Swedbank Norway (Swedbank) as adviser for a senior bond financing of about $600-million, with a five-year maturity, to develop its Dumont nickel project, in Quebec. Swedbank would work closely with RNC to arrange the... 

Royal Nickel chooses Swedbank to advise on $600m bond financing

Mining industry to refocus metrics and methodologies on long-term efficiency

By: Simon Rees Among analysts, fund managers and investors, questions surrounding liquidity, cash generation and squeezing out productivity gains dominated the conversation on how to best avoid the downcycle’s worst shoals. Many a management had tailored their project and operational metrics in response to... 

Dust from abandoned Cliffs' mine casts pall over eastern Canadian town

By: Reuters Heavy dust clouds blowing from Cliffs Natural Resources' abandoned Wabush iron-ore mine into a small township in the eastern Canadian province of Newfoundland and Labrador is putting a focus on the liability of miners that seek creditor protection and walk away from assets. Iron-ore and coal... 

Federal project supports women in mining

By: Henry Lazenby The federal government of Canada has announced support for a new project to help women advance within the country’s mining industry. Canada's Minister of Labour and Minister of Status of Women Dr K Kellie Leitch said on Wednesday that the Mining Industry Human Resources Council (MiHR) would... 

Tight mining labour market could compromise Canada’s competitiveness

By: Henry Lazenby The recent downturn in the mining industry had taken pressure off immediate hiring requirements, but several indicators pointed to what could only be termed as a malfunctioning labour market, which would only become more acute as the market recovered and entered a new phase of growth, a new... 

Tight mining labour market could compromise Canada’s competitiveness

Graphite price pressure remains despite Chinese output slowdown

By: Henry Lazenby Flake graphite prices continued to come under pressure in May, as Chinese efforts to reduce stockpiles saw prices for lower-value grades slip further, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. Benchmark analyst and MD Simon Moores advised in a... 

Molycorp defers second interest payment in 2 weeks

By: Henry Lazenby US rare earths producer Molycorp on Monday deferred making a second interest payment in two weeks. The Greenwood Village, Colorado-based miner said that it would take advantage of a 30-day grace period on a $3.36-million semi-annual interest payment related to its 3.25% senior unsecured... 

Molycorp defers second interest payment in 2 weeks

Prioritising short-term objectives over long-term strategy to haunt project developers

By: Simon Rees With short-term objectives taking precedence over long-term planning and strategy, the shortcomings of senior management and poor CEO performances often exacerbate and sometimes introduce many of the difficulties dealt with by mining companies. That was what mining industry veteran Larry Smith... 

North American Nickel gains strong foothold in Greenland nickel camp

By: Henry Lazenby Greenland-focused explorer North American Nickel (NAN) is in negotiations with a subsidiary of Swedish Iron producer LKAB Minerals to acquire the strategically important Seqi port, on the south-west coast of Greenland, that would give it a strategic geographic advantage in the emerging mining... 

North American Nickel gains strong foothold in Greenland nickel camp
Photo by North American Nickel
Maniitsoq, Greenland.

Maracas Menchen vanadium mine gathers momentum

By: Henry Lazenby Brazil-focused vanadium producer Largo Resources’ Maracas Menchen mine has recorded record output during May. The Bahia-state project produced 487 t of vanadium pentoxide last month, the highest since production started in August last year, and also set a new daily production record of 23 t. 

Madagascar nickel project suffers another setback

By: Henry Lazenby Diversified Canadian resource company Sherritt International has suffered another setback at the Ambatovy nickel/cobalt project, in Madagascar. Strikes at both the mine and plant, and a transformer failure had choked the operation’s ability to ramp up to the coveted 90% of design capacity for 90... 

Mergers and acquisitions drop 46% q/q – KPMG

By: Henry Lazenby During the three months ended March 31, the global mining industry has recorded the lowest number of mergers and acquisitions (M&A) transactions in years, recording only 14 transactions worldwide. This represented a drop of 46% quarter-over-quarter, professional services firm PwC said in its... 

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