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Great Panther Silver fined for explosives theft at Mexican mine

By: Henry Lazenby Primary silver miner Great Panther Silver has paid a fine assessed by Mexican authorities after explosives were stolen from from one of the mines at its Guanajuato Mine Complex. The company on Friday announced that the fine paid was not expected to materially impact its financial results,... 

Mines Management gets conditional approval to build $500m copper/silver mine in Montana

By: Henry Lazenby The US Forest Service and the Montana Department of Environmental Quality has given TSX- and NYSE MKT-listed project developer Mines Management conditional approval to proceed with development of its $550-million Montanore silver/copper mine, underneath the Cabinet Mountains Wilderness, in... 

Argentina scraps mining export taxes as part of free market push

By: Reuters Argentina's new president has revoked the 5% tax that the previous administration collected on mining exports, state news agency Telam reported on Friday, as part of the country's two-month old push toward open markets. "Today end the taxes on mining exports," president Mauricio Macri,... 

Mining stocks resemble ‘a big Walmart sale’ as low commodity prices persist

By: Henry Lazenby Sentiment remain negative about the mining and oil and gas industries as the super cycle nears a protracted potential bottom, resulting in dwindling market capitalisations for companies large and small and cruelly undervalued stock prices – creating a buyer’s market for the savvy investor. Chief... 

Mining stocks resemble ‘a big Walmart sale’ as low commodity prices persist

Agnico Eagle beats Q4 expectations

By: Henry Lazenby Agnico Eagle on Wednesday reported an adjusted profit of $3.9-million, or $0.02 a share for the fourth quarter of 2015, beating analyst expectations of nil a share. The Toronto-based miner reported a net loss of $21.3-million, or $0.10 a share, despite rising gold sales. 

Franco-Nevada to buy Glencore precious metals stream for $500m

By: Reuters Toronto-based Franco-Nevada has agreed to acquire a precious metal stream in southern Peru from Glencore for $500-million and arranged a $550-million financing to fund the deal, it said on Wednesday. Franco-Nevada's president and CEO David Harquail said the acquisition would further strengthen... 

Kootenay and Northair merger to create new Mexican silver consolidator

By: Henry Lazenby TSX-V-listed Mexico-focused exploration and development firms Kootenay Silver and Northair Silver on Monday signed a definitive arrangement agreement that would position Kootenay as a dominant landholder in the country. With project consolidation also one of the stated objectives of the combined... 

Tahoe and Lake Shore announce business tie-up

By: Henry Lazenby Canadian precious metals producers Tahoe Resources and Lake Shore Gold have agreed to combine their businesses, paving the way for the establishment of one Americas-focused miner with a strong diversified production platform, anchored by growing low-cost operations in Peru and Ontario and the... 

Triple digits forecast for silver as supply tightens

By: Henry Lazenby Currently bullish on silver, analysts are saying the possibility of triple-digit prices for the grey metal is not beyond the realm of possibility. A panel of experts in the silver industry recently came together in Vancouver to discuss the prospects for the precious metal, sketching a somewhat... 

Triple digits forecast for silver as supply tightens

Mexican tax authority takes unprecedented action to rescind Primero tax agreement

By: Henry Lazenby The TSX-listed stock of Canadian precious-metals producer Primero Mining fell almost 30% on Thursday after it announced that its Mexico-focused subsidiary had received an unprecedented legal claim from Mexican tax authorities seeking to nullify a 2012 advance pricing agreement (APA), which... 

Partial precious metals price recovery expected for 2016

By: Natasha Odendaal A partial recovery in the prices of gold, platinum, palladium and silver is expected this year, a new survey by the London Bullion Market Association has found. The 2016 Forecast Survey, in which 36 analysts participated, showed bullish prospects, with increases of between 1.1% and 5.4% from the... 

Rambler reports 12th shipment of copper concentrate

By: Henry Lazenby TSX-V- and Aim-listed Rambler Metals and Mining has delivered about 8 000 wet metric tonnes (wmt) of copper and gold concentrate from its facility in Goodyear's Cove, Newfoundland and Labrador, marking the twelfth shipment completed since declaring commercial production at its Ming copper and... 

Silver market deficit to widen in 2016 – report

By: Natalie Greve Global silver production is projected to fall in 2016 by as much as 5% year-on-year as output from more mature operations begins to decline and the lower-price environment provides little incentive for producers to invest in expanding capacity at existing operations, noted a report by specialist... 

Endeavour Silver cuts silver production by more than a quarter

By: Samantha Herbst Owing to the dipping price of silver, dual-listed Canadian miner Endeavour Silver plans to reduce silver production this year by more than a quarter to achieve a substantially lower all-in sustaining cost (AISC) and to generate free cash flow. In its 2016 production and cost guidance, published... 

Endeavour Silver cuts silver production by more than a quarter

Crucial decision needed on empowerment levels

By: Nadine James An urgent court judgment needs to be made to determine the empowerment levels in South Africa’s mining industry, as this will most likely impact on the future alignment between the Department of Trade and Industry (DTI) codes and the Mining Charter, stresses Cliffe Dekker Hofmeyr director of... 

Crucial decision needed on empowerment levels
ALLAN REID Aligning the Mining Charter with the Department of Trade and Industry codes will be challenging, regardless of the Department of Mineral Resources' 12-month extension

Delayed MPRDA Amendment Bill unfavourable

By: Nadine James It is more than a year since the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill was referred back to Parliament by President Jacob Zuma for reconsideration. According to the latest available public record, more parliamentary committee meetings to reconsider the Amendment... 

Delayed MPRDA Amendment Bill unfavourable

Mining needs critical legal regulatory matters resolved

There will be many critical legal and regulatory issues facing the mining industry in 2016, says Chamber of Mines (CoM) legal head Lerato Legong. He claims that “one of the most important is going to be the review of the Mining Charter, which will likely lead to the development of the third... 

Mining needs critical legal regulatory matters resolved
Photo by Bloomberg
MOSEBEZI ZWANE The Chamber of Mines expects that the Mineral Resources Minister and his department will deal with a number of regulatory issues in the coming year

Proposed MPRDA amendments lack clarity

By: Nadine James While the proposed amendments to the Mineral and Petroleum Resources Development Act (MPRDA) contain positive aspects, in a broader sense, they are flawed, particularly in terms of the applications and appeals processes regarding mining rights, says Hogan Lovells partner and head of mining Warren... 

Proposed MPRDA amendments lack clarity
WARREN BEECH The amendments pertaining to appeals will adversely impact mining right applicants in terms of starting the process of securing operations funding and their contractual obligations

Silver Wheaton buys into early-stage project purchase agreement

By: Natasha Odendaal Dual-listed Silver Wheaton has signed a nonbinding term sheet with Panoro Minerals and its wholly owned subsidiary Cordillera Copper to enter into an early deposit precious metals purchase agreement for the Peru-based copper-gold-silver Cotabambas project. The agreement would allow Silver... 

Silver Wheaton buys into early-stage project purchase agreement
Silver Wheaton president and CEO Randy Smallwood

Final Lisheen zinc shipment leaves gap Southern Africa can fill – Vedanta 

By: Martin Creamer The final shipment of zinc from Vedanta Resources' Lisheen mine has brought zinc supply from the Irish mine to an end, opening up an opportunity for the Gamsberg project, which is inching forward at a carefully measured pace in South Africa’s Northern Cape. Lisheen’s closure means that some 120... 

Final Lisheen zinc shipment leaves gap Southern Africa can fill – Vedanta
Photo by Duane Daws
Tom Albanese, Godfrey Oliphant, Deshnee Naidoo at first Gamsberg blast

Applied Mineral Technologies

Witbank-based Applied Mineral Technologies (Amtec) specialises in the fabrication and construction of materials handling systems and processing plants. “Amtec is especially proficient and experienced in brownfield and shutdown construction activities having successfully undertaken many... 

Applied Mineral Technologies

Networking at every turn

By: Kimberley Smuts Event organiser Mining Indaba recognises that one of the most critical functions of the Investing in African Mining Indaba conference is to create a platform that allows all those operating in the African mining sector to engage. The annual Mining Indaba taking place from February 8 to 11 at the... 

Networking at every turn
NETWORKING OPPORTUNITIES ABOUND Mining Indaba has again allocated specific times for networking over the course of the event to allow delegates to set up meetings and take advantage of the opportunity to meet new business contacts

Opportunities arise in the nonprecious metals royalty sector

By: Kimberley Smuts LSE-listed resources royalties business Anglo Pacific Group tells Mining Weekly that there is “enormous growth potential” in the non-precious metals royalty space globally. “In terms of Anglo Pacific . . . I think we are just scratching the surface of the opportunities available through direct... 

Opportunities arise  in the nonprecious  metals royalty sector
JULIAN TREGER We are just scratching the surface of the opportunities available through direct acquisition of primary and secondary royalties, and investment in projects at the development and production stage

Schwalbe

Focused on providing products and services while ensuring competitiveness in quality, reliability and price, South Africa-based drilling equipment supplier Schwalbe’s product lines have been supplied to and also tested with favourable results achieved by companies such as gold producer Anglo Gold... 

Schwalbe

Silver Wheaton possibly on the hook for another $310m as CRA reassesses 2011–2013 tax years

By: Henry Lazenby In another potential financial blow to precious metals streaming firm Silver Wheaton, the Canadian Revenue Agency (CRA) has notified it that it would be reassessing the company’s international transactions covering the 2011 to 2013 taxation years, potentially placing the company on the hook to... 

Silver Wheaton possibly on the hook for another $310m as CRA reassesses 2011–2013 tax years

Kootenay and Northair to form Mexico-focused silver project developer

By: Henry Lazenby TSX-V-listed Kootenay Silver and Northair Silver has signed a binding letter of agreement under which Kootenay will acquire all the outstanding shares of Northair, to create a Mexico-focused silver exploration and development company. With project consolidation also one of the stated objectives... 

US Mint's silver coin sales hit record in 2015, gold sales up 53%

By: Reuters The US Mint sold a record amount of American Eagle silver bullion coins and saw sales of its gold coins rise by 53% this year, it said on Thursday, as weak metal prices unleashed a fresh wave of buying by investors and collectors. Sales of American Eagle gold coins hit 801 500 oz, while... 

Metals give back in wake of rate hike

By: Henry Lazenby Metals prices, which had traded in a steady-to-positive range until Wednesday’s decision by the US Federal Reserve to raise federal interest rates by 0.25%, have given back some of their gains. In the wake of the highly anticipated move to rein-in the US’s loose monetary policies of the past... 

Sumatra secures financing for Tembang

By: Esmarie Swanepoel Junior miner Sumatra Copper & Gold has secured a $5-million working capital facility from its major shareholder Provident Minerals to fund operating costs, and underground and openpit development at the Tembang gold-silver mine, in Indonesia. Sumatra would issue five-million convertible notes to... 

Another tough year for mining as new approaches offer vision of hope

By: Simon Rees The downcycle for mining remained in place across 2015 as economic headwinds experienced in many developing-world countries continued to weigh on commodities uptake, Watts, Griffis and McOuat president Joe Hinzer told members at a recent meeting of the Canadian Institute of Mining’s Management... 

Another tough year for mining as new approaches offer vision of hope

Market uncertainty pulls EY’s Canadian Mining Eye index down in Q3

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index declined 17% during the third quarter 2015, in stark contrast to the second quarter’s 4% gain. This latest drop was even more substantial than the first quarter, which saw only a 1% decline. 

Pan American Silver names Michael Steinmann CEO as Geoff Burns retires

By: Henry Lazenby Vancouver-based miner Pan American Silver on Monday announced that president Michael Steinmann would also assume the position of CEO on January 1, after incumbent Geoff Burns’ retirement on December 31. TSX- and Nasdaq-listed Pan American made the announcement as a last step of a transitional... 

Nautilus and Chinese offtake partner shake hands on new ‘win-win’ master agreement

By: Henry Lazenby Prospective ocean floor miner Nautilus Minerals has signed a new sales agreement with China-based Tongling Nonferrous Metals Group for the ores extracted from the company’s Solwara 1 deposit, located in the Bismarck Sea offshore Papua New Guinea, with first delivery expected in the first half of... 

Glen Eagle stock rises as Honduras plant expansion nears end

By: Henry Lazenby The TSX-V-listed stock of Glen Eagle Resources rose on Thursday, after it announced that a cyanide circuit for its processing plant in Honduras was nearing completion. The Montreal-based miner expected to receive the first technical tests for the expansion next week, with the plant expected to be... 

Century mine, Australia

By: Sheila Barradas A zinc/lead mine, located at Lawn Hill, 250 km north-west of Mount Isa, in the lower Gulf of Carpentaria, in Queensland, Australia. 

Century mine, Australia

Kriel Occupational & Wellness Centre

Independent service provider Kriel Occupational & Wellness Centre, a 100% black, female-owned business, was formed in 2008 to bridge the gap in the occupational health sector identified by director Dr Patience Lindi Mokwena. The women-empowered company, which is focused on servicing the mining... 

Kriel Occupational & Wellness Centre

Glencore shares soar as company spurts cash, reports “good” China sales

By: Martin Creamer The share price of Glencore soared more than 14% in Johannesburg after the diversified mining and marketing company told investors it would remain comfortably cash positive at materially lower commodity prices, had $14-billion liquidity headroom, beat its capital preservation targets and was... 

Glencore shares soar as company spurts cash, reports “good” China sales
Photo by Duane Daws
Ivan Glasenberg

Rapid debt reduction shapes Glencore for lower prices

By: Martin Creamer Global diversified mining and marketing company Glencore is ahead of schedule on the debt reduction plan, with rapid delivery of debt reduction measures preparing the London-, Hong Kong- and Johannesburg-listed giant for current, and even lower, commodity prices. Glencore CEO Ivan Glasenberg... 

Rapid debt reduction shapes Glencore for lower prices
Photo by Duane Daws
Ivan Glasenberg
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