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Silver News

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Struggling Aldridge agrees to be bought by Virtus Mining

By: Mariaan Webb     19th September 2018 Troubled Turkey-focused junior Aldridge Minerals has agreed to be bought by Virtus Mining – a development-stage mining company in which Aldridge director Ahmet Taçyildiz will indirectly hold 70%. Virtus will acquire all the issued and outstanding common shares of Aldridge for C$0.10 in cash,... 

Coeur reports fatal accident at Palmarejo

By: Creamer Media Reporter      18th September 2018 NYSE-listed Coeur Mining on Monday reported that two workers had died at its Palmarejo silver/gold mine, in Mexico, the previous week. The company explained that two underground production drillers fell into a void after the ground below them collapsed. The area was evacuated and all underground... 

Tahoe Resources' Guatemalan unit announces new round of layoffs

By: Reuters     18th September 2018 The Guatemalan unit of US miner Tahoe Resources laid off an additional 169 workers on Monday, two weeks after the country's top court kept in place a more than 14-month suspension of operations at the company's Escobal silver mine. The layoffs at Minera San Rafael, Tahoe's local unit, now total... 

China expected to continue as major driver in global silver market – Silver Institute

By: Marleny Arnoldi     12th September 2018 China will continue to be a major driver in the global silver market for years to come, fueled by continued industrial demand and silver mining activity, says international industry association, the Silver Institute. “China is by far the largest consumer of silver globally, accounting for 18%... 

European miners enter bear market with more pain seen for sector

By: Bloomberg     12th September 2018 A sixth consecutive day of declines took European miners to a bear market, and analysts predict more tough times for the sector that has lost more than 20 percent since June. “We have the beginning of a bearish trend,” Valerie Gastaldy, technical strategist at Day By Day, wrote in a note. “The... 

European miners enter bear market with more pain seen for sector

Tahoe aims to work 'in good faith' to restart Guatemala mine 

By: Reuters     10th September 2018 Tahoe Resources will work closely with Guatemalan officials and locals to resolve a dispute and resume operations at its flagship Escobal silver mine, one of the world's largest, CEO Jim Voorhees said on Monday. Guatemala's Constitutional Court last week upheld the suspension of licenses at... 

First Majestic sees near-term production potential at Ermitano

By: Creamer Media Reporter      10th September 2018 Canadian silver miner First Majestic Silver exercised its option agreements over the Ermitaño and Cumobabi projects and has earned 100% of these projects, which are located near its operating Santa Elena mine, in Sonara, Mexico. In terms of a 2014 option agreement with Evrim Resources, First... 

Centenera to buy six Argentina precious metals projects

By: Creamer Media Reporter      6th September 2018 TSX-V-listed Centenera Mining has signed a binding letter agreement granting it the right to acquire up to a 100% interest in six precious metals properties in the Deseado Massif in Santa Cruz, giving the firm a meaningful foothold in the mining and exploration district. The agreement is with an... 

Sibanye-Stillwater concludes $450m convertible bonds tender process

By: Marleny Arnoldi     5th September 2018 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has announced the conclusion of its invitation to tender convertible bonds for purchase up to the aggregate principal amount of $50-million in aggregate purchase price to holders of its $450-million 1.8% guaranteed unsecured... 

Coeur declares commercial production at BC silver/zinc mine

By: Mariaan Webb     5th September 2018 The Silvertip silver/zinc/lead project that Coeur Mining bought less than a year ago, has entered commercial production on September 1, prompting the NYSE-listed company to revise its full-year guidance. Coeur bought the mine, located in northern British Columbia, in October 2017 and started... 

Constitutional Court reverses Escobal reinstatement

By: Mariaan Webb     4th September 2018 Precious metals miner Tahoe Resources’ troubles in Gautemala deepened on Monday after the Constitutional Court reversed a Supreme Court decision to reinstate the Escobal mine's licence and ordered that nearby communities be consulted. The Ministry of Energy and Mines has to complete an ILO 169... 

Constitutional Court reverses Escobal reinstatement
The Escobal mine in Gautemala remains suspended.

Grupo Mexico could reopen San Martin mine after 11 years

By: Reuters     3rd September 2018 Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed more than a decade ago due to a workers strike, a senior government official said in an interview. The company began to refurbish the San Martin mine, which has copper, silver,... 

Grupo Mexico could reopen San Martin mine after 11 years

Constantine assembles team for Alaska project PEA

By: Creamer Media Reporter      30th August 2018 TSX-V-listed Constantine Metal Resources has selected engineering, project and construction management firm JDS Energy and Mining to prepare a preliminary economic assessment (PEA) of the potential viability of the mineral resources at the Palmer copper/zinc/gold/silver project, in south-east... 

Tahoe says violence increasing near Escobal

By: Mariaan Webb     27th August 2018 A lack of legal certainty surrounding the Escobal mining licence in Guatemala is fuelling violence in the region, TSX- and NYSE-listed Tahoe Resources said at the weekend, reporting that 12 security contract workers at the Minera San Rafael mine were attacked and kidnapped for several hours.... 

Chinese miner to start copper output in Eritrea by next year

By: Bloomberg     24th August 2018 A unit of Sichuan Road & Bridge Co. will start producing copper, zinc, gold and silver at a mine in Eritrea by early next year, helping diversify the country’s agrarian economy, a mines ministry official said. The project will add to two operating mines in the Horn of Africa nation, which is... 

Polymetal declares $0.17 dividend on back of solid H1 performance

By: Marleny Arnoldi     21st August 2018 LSE-listed Polymetal International has declared an interim dividend of $0.17 a share for the first half of the year, higher than the $0.14 a share for the first half of 2017, the company reported on Tuesday. The dividend distribution, to be paid on September 28, represents 50% of the group’s... 

Polymetal declares $0.17 dividend on back of solid H1 performance

Tahoe dismisses a further 200 workers at Guatemala mine

By: Mariaan Webb     21st August 2018 Another 200 employees of the Minera San Rafael operation, in Guatemala, have lost their jobs, the Reno, Nevada-owner of the Escobal mine, Tahoe Resources, reported on Monday. The company, which is in a long-running dispute with the Latin American nation and has not been able to produce silver... 

Oposura scoping study nears completion

By: Creamer Media Reporter      20th August 2018 ASX-listed Azure Minerals is nearing completion of a scoping study for its Oposura zinc/lead/silver project, in Mexico. The study remains on schedule for completion in the third quarter of this year. 

Kizeltepe benefiting from weaker lira, higher grades

By: Mariaan Webb     16th August 2018 The Kiziltepe mine, which Aim-listed Ariana Resources owns in a joint venture (JV) with Turkey's Proccea Construction, is benefitting from the recent movements in the value of the lira, with operational costs incurred in the local currency decreasing. Ariana MD Kerim Sener said on Thursday that... 

First Majestic stock tumbles on Q2 results

By: Mariaan Webb     14th August 2018 Mexico-focused First Majestic on Tuesday reported a second-quarter net loss of $40-million, prompting investors in Toronto to sell the company’s stock, which tumbled nearly 15% to its lowest level in six months. The net loss compares with net earnings of $1.4-million in the second quarter of 2017... 

McEwen closes $50m three-year loan

By: Marleny Arnoldi     13th August 2018 NYSE- and TSX-listed precious metals producer McEwen Mining has closed its previously announced $50-million senior secured three-year loan facility with Royal Capital Management Corporation. Owner and chairperson Rob McEwen is participating as a lender for $25-million of the total loan.  

Tembang on care and maintenance while new mine plan is prepared

By: Esmarie Swanepoel     13th August 2018 ASX-listed Sumatra Copper & Gold has placed its Tembang gold/silver operation, in Indonesia, on care and maintenance. The company in May this year temporarily suspended openpit operations at the Tembang mine until the operation could be connected to the State-owned electricity grid later this year. 

Trevali lifts Q2 zinc output

By: Simone Liedtke     10th August 2018 TSX-listed Trevali Mining saw achieved higher zinc production in the second quarter, ended June 30, and remains on track to achieve its full-year production and cost guidance, president and CEO Dr Mark Cruise said on Friday. Production guidance for the year remains unchanged at 400-million to... 

Strong sales growth lifts Silvercorp earnings

By: Nadine James     10th August 2018 In its financial and operating results for the first quarter ended June 30, Canada-based, China-focused Silvercorp Metals on Thursday reported a net income of $10.9-million and a 25% increase in cash flow on the back of a 14% increase in sales. The company achieved sales of $45.1-million, up... 

Fortuna’s Lindero project still set for start of commercial operations in Q3 2019

By: Nadine James     8th August 2018 Construction of Fortuna Silver Mines’ Lindero gold project, in Argentina, has been delayed slightly, but the Canadian miner still expects commercial operations to start during the third quarter of 2019. Fortuna president, CEO and director Jorge Ganoza on Tuesday noted that delays in the building... 

New silver bullion Krugerrand goes on sale

By: Creamer Media Reporter      7th August 2018 The new silver bullion Krugerrand went on sale this week and is expected to generate significant interest, says Prestige Bullion, a joint venture between Rand Refinery and the South African Mint. The silver Krugerrand is Prestige Bullion’s first foray into silver and its introduction makes this... 

New silver bullion Krugerrand goes on sale

Vast expects subsidiary to be granted Baita Plai association licence soon

By: Simone Liedtke     6th August 2018 Aim-listed mining company Vast Resources, its 80%-subsidiary African Consolidated Resources (AFCR) and Romanian State-owned Baita, the holder of the Baita Plai licence, have submitted a joint formal application to Romania’s National Agency for Mineral Resources (ANRM) for the grant to AFCR of an... 

Tahoe Resources CEO says top priority is ending Guatemala mine dispute

By: Reuters     2nd August 2018 The new chief executive of Tahoe Resources said on Thursday that his top priority is ending a long-running dispute in Guatemala that has stopped all of the mining company's silver production. Jim Voorhees, who became CEO of the Reno, Nevada-based company in June, said he has deployed new staff... 

Tahoe Resources CEO says top priority is ending Guatemala mine dispute
Tahoe Resources' Escobal silver mine.

McEwen appoints new COO as Ochoa resigns

By: Creamer Media Reporter      1st August 2018 Gold and silver miner McEwen Mining has appointed senior executive Chris Stewart as president and COO with effect from September 1, succeeding Xavier Ochoa who resigned last month to pursue an opportunity closer to his family in South America. Stewart has 25 years of diversified experience in... 

Hudbay ups Manitoba's operating cost guidance

By: Mariaan Webb     1st August 2018 Toronto-headquartered Hudbay Minerals on Tuesday confirmed that it would meet its production guidance for 2018, but flagged higher operating costs at its Manitoba unit, citing cold weather conditions, higher costs at the 777 mine and the impact of a fan outage at Lalor. The combined mine and... 

Yamana reports solid Q2 gold, silver, copper production

By: Marleny Arnoldi     27th July 2018 Canadian gold miner Yamana Gold produced 248 177 gold-equivalent ounces (GEOs), 1.31-million ounces of silver and 31.1-million pounds of copper in the second quarter of this year. Higher-than-expected output at its Chapada, Canadian Malartic, Jacobina and El Peñón operations, together with the... 

Tanzania targets setting up mineral exchange by end of 2018

By: Bloomberg     26th July 2018 Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said. The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth... 

Fresnillo clips FY silver guidance

By: Mariaan Webb     25th July 2018 Precious metals miner Fresnillo on Wednesday reported second-quarter production results and adjusted its silver and gold guidance for the full year. The world’s largest primary silver miner produced 15.34-million ounces of the precious metal in the second quarter, taking half-year output to... 

Fresnillo clips FY silver guidance
Fresnillo's Saucito mine.

First Majestic production hits record, 2018 production guidance hiked

By: Simone Liedtke     17th July 2018 Total production from dual-listed First Majestic’s seven operating silver mines reached a new company record of 5.1-million ounces of silver equivalent in the second quarter, comprising 2.8-million ounces of silver, 25 449 oz of gold, 3.9-million pounds of lead and 1.4-million pounds of zinc. The... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

McEwen’s operations on track to meet full-year guidance

By: Marleny Arnoldi     16th July 2018 Dual-listed precious metals producer McEwen Mining produced 36 959 oz of gold and 772 432 oz of silver, or 47 258 gold-equivalent ounces (GEOs), for the second quarter of this year.  

McEwen’s operations on track to meet full-year guidance

SSR Mining reports mixed bag in June quarter

By: Esmarie Swanepoel     13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... 

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