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Silver News

Moody’s base metals optimism rises despite seeing price fall back this year

By: Henry Lazenby     19th January 2017 Market analyst and ratings agency Moody’s Investors Service has adjusted upwards its pricing sensitivities for base metals in 2017, but says despite the recent run-up in base metal prices not being sustainable, some of the positive sentiment will remain. Moody’s said Wednesday it expected the... 

Primero hits lowered 2016 guidance, concern over cash position grows

By: Henry Lazenby     18th January 2017 Precious metals producer Primero Mining has met its revised lower guidance of 170 000 gold-equivalent ounces (GEOs) to 190 000 GEOs for 2016, producing 176 139 GEOs in the 12-month period. Industry-benchmark comparable all-in sustaining costs (AISC) came in at $1 326/oz, beating the revised... 

First Majestic sees lower 2017 output as it prepares for growth in 2018 and beyond

By: Henry Lazenby     18th January 2017 Precious metals producer First Majestic Silver expects to produce about 6% less gold this year than in 2016, as it prepares for significant production growth in 2018 and beyond, the company said Tuesday. During 2016, the Vancouver-headquartered miner produced a new record of 18.7-million... 

Despite expecting further delay to RoF development, Noront exploration guns for gold

By: Henry Lazenby     18th January 2017 Despite reporting progress with discussions between stakeholders, the largest landholder in the emerging Ring of Fire (RoF) mining camp of Northern Ontario, Noront Resources, said Tuesday that it expected further delays to the development of its cornerstone Eagle’s Nest mine. The precious and... 

UBC researchers develop flowsheet for LED bulb recycling

By: Henry Lazenby     18th January 2017 Researchers at the University of British Columbia (UBC) have developed a flowsheet to extract copper, lead, zinc, silver and small amounts of rare earth metals, including lutetium, cerium and europium, as well as the ‘technology metals’ gallium and indium from discarded light-emitting diode (LED)... 

UBC researchers develop flowsheet for LED bulb recycling
Photo by University of British Columbia
Mineral processing engineer Maria Holuszko and her PhD student Amit Kumar

Hits and misses as production reports roll in

By: Henry Lazenby     11th January 2017 Several North American miners issued fourth-quarter and full-year 2016 production reports on Wednesday, with some reporting better-than-expected results and others missing the mark. TSX- and NYSE MKT-listed streaming and royalty firm Sandstorm Gold sold record volume of 13 200 attributable... 

Hits and misses as production reports roll in

Mexico's industrial production flat as mining slumps

By: Reuters     11th January 2017 Mexican industrial output was flat in November as factory production rose to its fastest pace in nearly a year but mining shrank, Mexico's national statistics office said on Wednesday. Mexican industrial production was unchanged compared to the prior month, data showed, and down from a 0.2%... 

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

Alamos stock jumps more than 15% on receiving Kirazli forestry permits

By: Henry Lazenby     6th January 2017 The TSX-listed stock of Canadian intermediate miner Alamos Gold jumped more than 15% Thursday following the company’s premarket announcement that it has received the forestry permits for the eagerly awaited Kirazli gold project, in Turkey – a key component of the Alamos’ near-term growth... 

Alamos stock jumps more than 15% on receiving Kirazli forestry permits

New Year heralds several senior management employments

By: Henry Lazenby     4th January 2017 Early 2017 corporate activity saw a slew of senior management appointments being made by miners. TSX- and NYSE-listed Tahoe Resources has appointed former Goldcorp president and CEO Chuck Jeannes to the board effective January 1. 

New Year heralds several senior management employments
Photo by Bloomberg
Cuck Jeannes

European shares ease as miners, banks fall

By: Reuters     29th December 2016 European shares opened slightly lower on Thursday as miners fell and Italian banks and Credit Suisse led banking shares lower. The pan-European STOXX 600 index was down 0.3%. Volumes were subdued during the last few days of the year. 

European shares ease as miners, banks fall

Zambia withholding $243m in tax refunds owed to mining firms

By: Reuters     28th December 2016 Zambia is withholding 2.4-billion kwacha ($243-million) of the 5-billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday. Zambia's government began paying up to 800-million kwacha a month in Value Added... 

Zambia withholding $243m in tax refunds owed to mining firms
Photo by Bloomberg
A mine supervisor overlooks Metorox's Chibuluma copper mine, near Kitwe, Zambia

Tahltech Drilling sets up one-stop exploration shop for northwest BC’s ‘Golden Triangle’

By: Henry Lazenby     23rd December 2016 Escalating resource exploration activity in north-west British Columbia’s rich ‘Golden Triangle’ has prompted the Tahltan Nation Development Corporation (TNDC) and Geotech Drilling Services to form a new partnership to enhance drilling services. The partnership comes at a time of unfolding... 

Tahltech Drilling sets up one-stop exploration shop for northwest BC’s ‘Golden Triangle’

IHS Materials Price Index jumps to 18-month high; emergent weakness to undermine momentum

By: Henry Lazenby     23rd December 2016 Analytics firm IHS Markit reports that its Materials Price Index (MPI) rose for a sixth consecutive week, increasing 1.4% to hit a fresh 18-month high. IHS Global Insight Pricing & Purchasing senior economist Ben Orhan pointed out that ferrous metals once again drove the index higher, gaining... 

IHS Materials Price Index jumps to 18-month high; emergent weakness to undermine momentum

Scotiabank Commodity Index set to end 2016 on high note

By: Henry Lazenby     21st December 2016 The Bank of Nova Scotia expects its benchmark Scotiabank Commodity Price Index to finish the year up 25%, with all sub-indices showing positive performance, the third largest Canadian banking group said Tuesday. The oil and gas index rose 55% in the year-to-November after both oil and natural gas... 

Scotiabank Commodity Index set to end 2016 on high note
Photo by Bloomberg
The surprise rally of bulk commodities, especially metallurgical coal, has lost some momentum in the final weeks of 2016

Triple Flag picks up maiden Milpo silver stream

By: Henry Lazenby     20th December 2016 Seven-months-old mine finance firm Triple Flag has acquired its first silver streaming agreement with Milpo UK, a subsidiary of Latin American conglomerate Votorantim’s Compañía Minera Milpo, for most silver output from Cerro Lindo, a poly-metallic zinc mine, in Peru. Under the streaming... 

Golden Queen declares commercial production at Soledad Mountain

By: Henry Lazenby     20th December 2016 Emerging gold and silver miner Golden Queen Mining has on Monday declared commercial production at its Soledad Mountain project, located in the Mojave Desert of California. Vancouver-based Golden Queen reached the milestone Monday after the plant consistently hit an average of 80% of design... 

As competition for streaming deals intensifies, Silver Wheaton willing to step back, look to consolidate

By: Henry Lazenby     17th December 2016 The pioneer and largest proponent of the precious metals streaming model is willing to step back from current frenzied activity by several new market entrants, each vying to get a foot in the door. “To quote one of the bankers: ‘they [new market entrants] have a very strong need to transact’,”... 

As competition for streaming deals intensifies, Silver Wheaton willing to step back, look to consolidate
Photo by Bloomberg
Silver Wheaton CEO Randy Smallwood

Latin American miners expected to persist with cost-cutting and disinvestment strategies

By: Henry Lazenby     16th December 2016 The end of the commodities super cycle continues to have a dampening effect on several South American economies, especially those that previously relied on high hydrocarbons prices to achieve high rates of growth. As well as hitting government earnings and rates of economic expansion, the... 

Latin American miners expected to persist with cost-cutting and disinvestment strategies

Tackling increased alcohol consumption during festive season

By: Nadine James     9th December 2016 The festive season can put companies at risk, as employees are more likely to drink alcohol not only more often but also to the point of excess, says drug and alcohol testing equipment provider Alco-Safe.  Alco-Safe director Rhys Evans notes that based on first-hand reports by safety managers,... 

Tackling increased alcohol consumption during festive season
RHYS EVANS At mining companies the number of people that report to work under the influence of alcohol over December increases to between 200 and 300 people a day

Santacruz Silver clinches sale of San Felipe project, Mexico

By: Henry Lazenby     8th December 2016 TSX-V-listed junior Santacruz Silver Mining has sold its interest in the San Felipe project, in Sonora, Mexico, to a private domestic firm for $15-million. Under the sale agreement, the buyer will complete the transaction in three tranches comprising $3-million to be paid by Friday; $12-million... 

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... 

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
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