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Silver News

Chile rejects attempt to block modified Barrick mine project

By: Reuters     Updated 2 hours 18 minutes ago Chile has rejected an attempt by local communities to block modifications needed to keep Barrick Gold's controversial Pascua Lama project alive, a resolution by the ministerial committee involved showed on Wednesday. The Pascua Lama gold and silver project, which straddles the border of... 

MOD's Botswana copper/silver project gets A$135m price tag

By: Esmarie Swanepoel     7th December 2016 A scoping study into the T3 copper/silver project, in Botswana, has revealed that the project could support a two-million-tonne-a-year operation, to produce around 21 800 t/y of copper and 665 000 oz/y of silver, over a near ten-year mine life. ASX-listed MOD Resources reported on Wednesday that... 

MOD's Botswana copper/silver project gets A$135m price tag

Columbus announces maiden resource estimate of 721 000 oz at Eastside project

By: Samantha Herbst     6th December 2016 TSX-listed Columbus Gold announced on Monday that the maiden resource for the company’s 100%-owned Eastside gold-silver project, in Nevada, in the US, is estimated to be a total of 721 000 oz of gold equivalent. At a cutoff grade of 0.15 g/t gold, coupled with a gold price of $1 300/oz, the... 

Indaba invaluable, time-efficient industry barometer – previous delegates

By: Nadine James     5th December 2016 Considered the preferred deal-making platform for mining in Africa, the Investing in African Mining Indaba – scheduled to run from February 6 to 9, in Cape Town – offers invaluable networking opportunities and informative discussions and presentations, contributing to the success of African... 

Indaba invaluable, time-efficient industry barometer – previous delegates
TIME IS MONEY The Mining Indaba is the most time-efficient way of gaining insight into African mining

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Metminco raises cash for Miraflores studies

By: Esmarie Swanepoel     18th November 2016 Dual-listed Metminco has secured A$4.85-million in funding to complete the feasibility study on its Miraflores gold and silver project, in Colombia. The company has placed more than two-billion shares, at a price of A$0.00237 a share, to sophisticated and institutional investors. 

Mining promoted before protection of communities

By: Nadine James     18th November 2016 Many of the deficits pertaining to the implementation of social and labour plans (SLPs) reflect a legal regime established by the Mineral and Petroleum Resources Development Act (MPRDA) that, despite defined transformative objectives, primarily targets the promotion of mining activity rather than... 

Mining promoted before protection of communities
Photo by Reuters
LIVING IN MINING"S SHADOW Despite attempts to ensure that communities benefit from mining activity, the legislation surrounding social and labpur plans is flawed and skewed in the mining company's favor

Software solution enhances compliance, reduces costs

By: Nadine James     18th November 2016 The social and labour plan (SLP) management solution from governance, risk and compliance (GRC) software company IsoMetrix ensures increased compliance with the Mining Charter, the Mineral and Petroleum Resources Development Act (MPRDA) and the Department of Mineral Resources’ (DMR’s) SLP... 

Software solution enhances compliance, reduces costs
DASHBOARD CONFESSIONALS IsoMetrix's Social and Labour Plan Management solution includes several dashboards that provide real-time data for informed decision-making.

Silver market sees fourth consecutive y/y shortfall

By: Anine Kilian     17th November 2016 The silver market is expected see a yearly physical deficit of 52.2-million ounces in 2016, marking the fourth consecutive year in which the precious metal has realised an yearly physical shortfall, according to the Thomson Reuters Silver Institute Interim Silver Market Review 2016. While such... 

Business, labour need to combine as errant DMR turns dictator

By: Martin Creamer     17th November 2016 The point has been made that mining business and labour have never been closer than now and that they need to make use of the current window of opportunity to establish a better foundation between themselves so that they can collectively shame the government into moving mining forward for the... 

Business, labour need to combine as errant DMR turns dictator
Chamber of Mines CEO Roger Baxter

Santacruz suspends Rosario ops after worker dies

By: Henry Lazenby     12th November 2016 TSX-V-listed Santacruz Silver Mining on Friday reported the death of an employee at Level 4 of the Rosario silver/gold/zinc/lead mine, located in San Luis Potosi state, Mexico. Santacruz has temporarily suspended activities at the Rosario mine following the accident that took place on Wednesday,... 

First Majestic sets new production record; lifts revenue 78%

By: Henry Lazenby     10th November 2016 Mexico-focused silver miner First Majestic Silver on Wednesday reported record output for the three months ended September which, in combination with higher silver prices and ounces sold, lifted revenues 78% over the comparable period in 2015. The Vancouver-based company, which owns and operates... 

Santacruz Silver declares commercial production at Veta Grande

By: Henry Lazenby     10th November 2016 TSX-V-listed miner Santacruz Silver Mining has declared commercial production, effective from October 1, at the new cornerstone Veta Grande mine, in Zacatecas, Mexico. The Vancouver-based miner reported that the mill had achieved stable throughput of 395 t/d, or 80% of design capacity, over the... 

Miners set to cash in on Trump's White House

By: Reuters     10th November 2016 Mining companies led gains on London's FTSE bluechip index on Wednesday as Republican Donald Trump's victory in the US presidential election spurred hopes for higher metal demand and drove investors to buy gold as a shelter against economic uncertainty. The FTSE mining index rose around 5% to... 

Primero stock tanks to new 52-week low as operational challenges persist

By: Henry Lazenby     10th November 2016 Canadian precious metals producer Primero Mining has reported weak third-quarter results, prompting it to lower its full-year production guidance and causing its TSX-listed stock to drop 28% on Wednesday to a new 52-week low. Toronto-headquartered Primero reported a net loss of $11.7-million in... 

Following initial knee-jerk ‘Trump Slump’ reaction, markets recover losses

By: Henry Lazenby     9th November 2016 With the pall of political uncertainty lifted once President-elect With the pall of political uncertainty lifted once president-elect Donald Trump won the US presidential elections Tuesday night, the US now enters a period of market uncertainty over what economic, financial and political policies... 

Following initial knee-jerk ‘Trump Slump’ reaction, markets recover losses

Safe-haven gold outperforms as Trump’s election spooks financial, equity markets 

By: Martin Creamer     9th November 2016 While gold outperformed as a safe haven after Donald Trump’s worrying election as the forty-fifth president of the US, financial and equity markets were frightened into falls along with emerging market currencies, including the rand. The World Gold Council (WGC) reported on Wednesday that gold... 

Safe-haven gold outperforms as Trump’s election spooks financial, equity markets
Photo by Bloomberg
US president-elect Donald Trump

Gold surges most since Brexit as Trump win fuels market turmoil

By: Bloomberg     9th November 2016 Gold soared by the most since Britain’s Brexit vote in June as Donald Trump won the US Presidency, prompting a rush to havens and a flight from risky assets. Bullion jumped as much as 4.8% to $1 337.38 an ounce, the biggest intraday increase since June, and traded at $1 317.17 by 7:44 in London,... 

Gold surges most since Brexit as Trump win fuels market turmoil

Tembang improvements deliver results

By: Esmarie Swanepoel     9th November 2016 The Tembang gold/silver project, in Indonesia, has delivered record production during October after ASX-listed Sumatra Copper & Gold implemented operational improvements. The company told shareholders on Wednesday that the Tembang operation produced 3 379 oz of gold equivalent during October,... 

Franco-Nevada lifts FY guidance as Q3 results beat several records

By: Henry Lazenby     9th November 2016 Commodity royalty streaming firm Franco-Nevada reported a stellar performance for the third quarter ended September 30, setting several new production and financial records for the period. After market close on Monday, Toronto-based Franco-Nevada reported operating and financial results for the... 

Sprott extends $20m loan to Northern Vertex

By: Henry Lazenby     8th November 2016 Arizona-focused Northern Vertex Mining has secured a $20-million senior secured credit facility from Sprott Private Resource Lending to fund development costs of the Company's 100% owned Moss gold/silver project. Northern Vertex president and CEO Kenneth Berry stated that the facility will... 

DMR must be challenged, good governance must be assured

By: Martin Creamer     7th November 2016 Mining has the wealth-generating potential to boost economies, but countries blessed with a mineral endowment must at least do their bit by assuring good governance. Regrettably, against the background of the recently released 'State of Capture' report of former Public Protector Thuli Madonsela,... 

DMR must be challenged, good governance must be assured
Photo by Duane Daws
Former Public Protector Thuli Madonsela

Upbeat Silvercorp reinstates dividend

By: Henry Lazenby     5th November 2016 China-focused primary silver miner Silvercorp Metals has reinstated its twice-yearly dividend of C$0.01 a share on the back of significantly improved second-quarter performance metrics for the fiscal year, the company announced Friday. Vancouver-based Silvercorp, which has several producing... 

McEwen Mining closes strong week; appoints Xavier Ochoa as president, COO

By: Henry Lazenby     5th November 2016 Owner-led gold producer McEwen Mining was up 13.5% on the TSX by Friday, ending somewhat of a roller coaster week on a positive note. The stock started the week at C$3.12 a share, before climbing 18% to an intraweek high of C$3.68 a share on Wednesday, and falling again 13% to C$3.20 apiece on... 

Anglo Pacific rides royalty wave as bulk commodity prices firm

By: Henry Lazenby     3rd November 2016 A bullish Anglo Pacific Group on Wednesday announced that royalty income for the September quarter surged 147% year-on-year to £4.7-million, boosted by price activity in both coking and thermal coal prices since the half-year. The LSE- and TSX-listed company said it saw the price of coking coal... 

Kinross lifts Q3 gold margin 36%

By: Henry Lazenby     3rd November 2016 Canadian multinational miner Kinross Gold on Wednesday reported a 36% wider attributable margin on every gold-equivalent ounce sold, rising to $617/oz, compared with a third-quarter 2015 margin of $454/oz. "Our portfolio of mines continued to deliver consistent and solid operational performance... 

Kinross lifts Q3 gold margin 36%

Hudbay reports Q3 profit as Peru, Manitoba ops ramp up

By: Henry Lazenby     3rd November 2016 Canadian base metals miner Hudbay Minerals is back in the black, boosted by strong performances from the Constancia mine, in Peru, and its Manitoba operations in Canada, which improved volumes and benefited from slightly higher prices. Since reaching commercial production in the second quarter of... 

Hudbay reports Q3 profit as Peru, Manitoba ops ramp up

Mining decline will continue unless new minerals Bill changed – Lorimer 

By: Martin Creamer     2nd November 2016 The decline of South Africa’s mining sector will continue unless the new Mineral and Petroleum Resources Development Act Amendment Bill – passed by the National Assembly on Tuesday – is radically changed, says Democratic Alliance Shadow Mineral Resources Minister James Lorimer MP. The Bill, sent... 

Mining decline will continue unless new minerals Bill changed – Lorimer
The Democratic Alliance’s Shadow Mineral Resources Minister James Lorimer MP

Gold climbs to one-month high as dollar drops before Fed meeting

By: Bloomberg     2nd November 2016 Gold rose to the highest in almost a month as the dollar weakened and investors awaited the US Federal Reserve’s interest-rate decision on Wednesday. Shares of gold-mining companies also advanced. Bullion gained a fourth day, the longest run in a month, as the Bloomberg Spot Dollar Index... 

Ontario invests C$2.5m in mining R&D; Minister outlines progress to position province as mining leader

By: Henry Lazenby     2nd November 2016 The Ontario government on Tuesday announced that it would invest C$2.5-million in the Centre for Excellence in Mining Innovation's (CEMI's) ongoing work with the Ultra Deep Mining Network (UDMN), which is helping the mining sector develop and adopt commercially viable innovations. Part of a... 

Ontario invests C$2.5m in mining R&D; Minister outlines progress to position province as mining leader
Photo by Ontario Ministry of Northern Development and Mines
Minister of Northern Development and Mines Michael Gravelle addresses the Mining Innovation Summit 2016, held in Sudbury

Arizona Mining lifts Taylor deposit resource

By: Henry Lazenby     1st November 2016 TSX-listed Arizona Mining on Sunday announced a new mineral resource for the Taylor zinc/lead/silver sulphide deposit, located on its 100%-owned Hermosa project, in Arizona. The deposit now comprises 31.1-million tons in the indicated resource category grading 10.9% zinc equivalent (ZnEq), plus... 

Caterpillar’s Q3 profit sags, casts dim outlook with lowered 2016 guidance 

By: Henry Lazenby     26th October 2016 The world’s largest earthmoving and mining equipment manufacturer Caterpillar has booked a sharply lower third-quarter profit, citing global economic weakness and an abundance of used equipment available, which is slowing sales. The NYSE-listed company expressed concern that the tough market... 

Caterpillar’s Q3 profit sags, casts dim outlook with lowered 2016 guidance

Keaton’s Moabsvelden project secures water-use licence

By: Ilan Solomons     21st October 2016 The Department of Water and Sanitation has granted JSE-listed coal mining company Keaton Energy’s Moabsvelden coal project, near Delmas, in Mpumalanga, an integrated water use licence (IWUL). Keaton CEO Mandi Glad highlighted last week that the Moabsvelden project had, therefore, become “fully... 

Keaton’s Moabsvelden  project secures  water-use licence
Photo by Duane Daws
MANDI GLAD Moabsvelden is situated adjacent to Keaton’s existing Vanggatfontein colliery and will benefit from shared infrastructure and reduced operating costs

World Bank raises 2017 price outlook for oil and metals 

By: Terence Creamer     20th October 2016 The World Bank has increased its 2017 price outlook for both metals and oil in its latest ‘Commodity Markets Outlook’, raising its October forecast for crude oil to $55/bl, from $53/bl in July. It has, however, sustained its forecast for an average oil price of $43/bl in 2016. Energy prices,... 

World Bank raises 2017 price outlook for oil and metals

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told 

By: Martin Creamer     19th October 2016 Water-constrained Gauteng may see an acid mine drainage (AMD) quick-fix in order to save the fresh water from the Lesotho Highlands Water Project from being wasted on AMD dilution instead of being available to the economy, environmental adviser Dr Anthony Turton said on Wednesday. Delivering the... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told
Photo by Duane Daws
Environmental adviser Dr Anthony Turton

Gold seen climbing in 'mildly bullish' scenario on low rates

By: Bloomberg     19th October 2016 Gold is set to rise about 7% by the time of the London Bullion Market Association conference in October 2017, according to a survey of people attending this year’s gathering in Singapore. Silver will gain 18%. The yellow metal will trade at $1 347.40/oz in a year’s time compared with $1 262.40... 

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