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Silver News

Strike halts operations at Sierra Metals' Peru mine

By: Creamer Media Reporter      22nd March 2019 TSX-listed miner Sierra Metals has suspended all mining and milling activity at its Yauricocha mine, in Peru, after unionised workers downed tools over contractor changes in a strike that is deemed illegal. The employees belong to the Union of the Mine and Metallurgical Workers of Minera Corona,... 

Kinross acquires 9.7% of Wolfden Resources

By: Marleny Arnoldi     20th March 2019 TSX-V-listed Wolfden Resources’ share price shot up 5% to C$0.18 apiece, following its announcement that Kinross Gold would take a 9.7% stake in the junior miner. The subscription agreement entails a nonbrokered private placement of about 12.5-million common shares of Wolfden at a price of... 

Blasting accident kills two at Leagold mine

By: Simone Liedtke     4th March 2019 TSX-listed Leagold Mining reported two fatalities at its Fazenda mine, in Brazil, over the weekend. Five employees, two of whom suffered fatal injuries, were involved in an underground blasting accident that occurred on the evening of February 28. 

Phoenix increases landholding around Empire

By: Marleny Arnoldi     27th February 2019 Aim-listed Phoenix Global Mining on Wednesday announced a threefold increase in its US-based Empire mine landholding, to the north and west of the Horseshoe claim block at Windy Devil and Navarre Creek. The company’s landholding increased by 3 880 acres, from 1 837 acres, or 7.43 km, and now... 

Hudbay hits base, precious metals near its Lalor mine

By: Marleny Arnoldi     27th February 2019 TSX- and NYSE-listed Hudbay has discovered a depsoti with 35.6 m of high-grade mineralisation that has both zinc-rich massive sulphides and gold, between the old Chisel North mine and the producing Lalor mine, in Canada, both of which Hudbay owns. At a downhole depth between 540 m and 576 m,... 

Fresnillo FY profit down 38%

By: Tasneem Bulbulia     26th February 2019 LSE-listed Fresnillo’s financial performance for the full year ended December 31, 2018 was impacted by a challenging operational environment, the Mexico-focused company reported on Tuesday. The miner recorded adjusted revenue of $2.24-billion, 0.5% increase compared with 2017, with lower prices... 

Endeavour reports $12m net loss, optimistic about 2019

By: Marleny Arnoldi     25th February 2019 NYSE- and TSX-listed Endeavour Silver on Monday reported that its revenue for 2018 was flat at $150-million and that mine operating cash flow decreased 3%, as a result of lower metal prices, offset by higher production. The Mexico-focused company reported a net loss of $12.4-million, or $0.10... 

Nautilus granted court order for creditor protection while restructuring

By: Marleny Arnoldi     25th February 2019 TSX-listed Nautilus Minerals has obtained an order of the Supreme Court of British Columbia that provides the company protection from its creditors, enabling it to restructure its business and financial affairs. Prior to the company applying for protection under the Companies Creditors... 

Phoenix says 2018 drilling at Empire confirms significant copper

By: Marleny Arnoldi     25th February 2019 North-American-focused base and precious metals developer Phoenix Global Mining has announced the final assays from a drilling programme at its 2018 Empire copper project, in Idaho. The results shared on Monday showed sulphide copper values of 7.14% copper, 5.94 g/t of gold and 76 g/t of silver... 

Pan American now the largest publicly traded silver company

By: Mariaan Webb     25th February 2019 Vancouver-headquartered Pan American Silver has established itself as the world’s largest publicly traded silver mining company by free float, following the completion of the acquisition of TSX- and NYSE-listed Tahhoe Resources. Pan American announced on Friday that it had completed the... 

Broadway Gold Mining anticipates investment to return to precious, base metals

By: Marleny Arnoldi     21st February 2019 Amid a rising US dollar, precious and base metals have suffered, owing to investment focusing elsewhere; however, this will not last, says TSX Venture-listed Broadway Gold Mining CEO Thomas Smeenk, whose junior mining company explores for silver, gold and copper in south-western Montana. He... 

Broadway Gold Mining anticipates investment to return to precious, base metals
Broadway Mining president and CEO Thomas Smeenk

Northern Dynasty shares up as Pebble inches forward

By: Mariaan Webb     21st February 2019 The contentious Pebble project inched forward on Wednesday, as the US Army Corp of Engineers posted a draft environmental impact statement (DEIS) for the Alaska gold/copper project, sending developer Northern Dynasty’s TSX-listed stock up nearly 20%. Northern Dynasty subsidiary Pebble Limited... 

Northern Dynasty shares up as Pebble inches forward

Mexico approves Pan American Silver’s Tahoe acquisition

By: Tasneem Bulbulia     18th February 2019 The Mexican Federal Economic Competition Commission on Friday approved the proposed transaction whereby Pan American Silver will acquire all of the issued and outstanding shares of dual-listed Tahoe Resources. In a statement, Tahoe confirmed that all required regulatory, shareholder and court... 

Sierra Metals reports flat Q4 Ebitda, production increases

By: Marleny Arnoldi     15th February 2019 TSX- and Peru-listed Sierra Metals reported adjusted earnings before interest, taxes, depreciation and amortisation of $17.4-million for the fourth quarter of 2018, compared with $17.5-million in the fourth quarter of 2017. The company processed 268 363 t, compared with 254 993 t processed in... 

Yamana forecasts stable-to-positive production growth to 2020

By: Nadine James     15th February 2019 TSX-listed Yamana Gold expects stable-to-positive production growth, with gold and silver output forecast to increase to 955 000 oz and 12-million ounces, respectively, by 2020. In the fourth-quarter and full-year results announcement on Thursday, the company stated that gold production would... 

Weaker prices hit Silvercorp Q3 performance

By: Nadine James     15th February 2019 TSX-listed Silvercorp Metals, which owns and operates mines in China, on Thursday reported a net income of $8.7-million for the third quarter ended December 31 – representing a 31% year-on-year decline with the company achieving a net income of  $12.7-million in the third quarter of 2018. The... 

Hochschild to suspend ops at Peru mine

By: Creamer Media Reporter      13th February 2019 London-listed Hochschild Mining said on Wednesday that it would suspend operations at its first mining operation, Arcata, and place the mine in care-and-maintenance in the second quarter. The company said that the low silver price had left it with no option, but to suspend operation. 

Xolobeni judgment continues to confound 

By: Martin Creamer     11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other.  But the... 

Xolobeni judgment continues to confound
Mineral Resources Minister Gwede Mantashe

Mining Indaba 2019 highlights 

8th February 2019 The 25th Investing in African Mining Indaba took place this week. Mining Weekly editor Martin Creamer attended the indaba and unpacks the highlights. 

Mining Indaba 2019 highlights
Mining Indaba 2019 highlights

Precious metal refiners face new LBMA environmental standard  

By: Martin Creamer     7th February 2019 The London Bullion Market Association (LBMA) has launched a new standard that addresses environmental as well as sustainability issues in gold and silver markets. To do that in a credible way, LBMA has been actively engaging with mining companies and producer nations. 

Precious metal refiners face new LBMA environmental standard
LBMA CE Ruth Crowell tells Mining Weekly's Martin Creamer about the association's efforts to improve environmental and sustainability within the gold and silver mining and refining sectors. Video and editing: Nicholas Boyd.

Ascendant secures OPIC loan for Honduras expansion

By: Creamer Media Reporter      6th February 2019 Toronto-based miner Ascendant Resources has secured financing from a US government agency that helps businesses invest in emerging markets to expand its El Mochito zinc/lead/silver mine in Honduras. The nonbinding term sheet with Overseas Private Investment Corporation (OPIC) is for a... 

Institute forecasts better year for silver

By: Mariaan Webb     6th February 2019 Following a challenging year for silver, reflected in the muted price performance of 2018, the Silver Institute expects 2019 to be a better year for the metal and that prices will regain some shine. The Washington-based nonprofit industry association says it expects sentiment for the silver... 

Institute forecasts better year for silver

Great Panther hikes Topia mineral resource

By: Creamer Media Reporter      30th January 2019 Precious metals miner Great Panther Silver has announced a 28% increase in the measured and indicated mineral resource at the Topia mine, in Mexico, to nearly 15-million ounces of silver equivalent. Since its last mineral resource estimate four years ago, the measured and indicated mineral... 

Silver use beyond jewellery has bulls betting on shrinking supply

By: Bloomberg     29th January 2019 Think of it as a potential silver lining for investors. A burgeoning shortage of the precious white metal is promising to boost its price as 2019 rolls out. Silver surged 9.1% in December, its biggest monthly gain in almost two years. This year, with miners avoiding new projects amid global... 

Independence Gold to focus on 3Ts project in 2019

By: Simone Liedtke     28th January 2019 TSX-V-listed Independence Gold will intensify its focus on its 3Ts project, located about 185 km southwest of Prince George, in British Columbia, during 2019, with a comprehensive data review planned ahead of executing a field programme later this year. The 3Ts project is an epithermal... 

Endeavour Silver forecasts lower production in 2019

By: Tasneem Bulbulia     25th January 2019 Precious metals miner Endeavour Silver expects its consolidated silver and gold production for 2019 to be about 10% lower than in 2018. This is according to the company’s 2019 production and cost guidance for its four silver/gold mines in Mexico; the Guanacevi mine in Durango state, the Bolanitos... 

Calibre consolidates Siuna ownership

By: Mariaan Webb     25th January 2019 TSX-V-listed Calibre Mining has agreed to buy project partner Centerra Gold’s 51% interest in the Siuna gold/silver/copper property in north-eastern Nicaragua, giving it full ownership of the Cerro Aeropuerto gold/silver deposit, the past producing La Luz mine and numerous exploration targets.... 

Freeport-McMoRan Q4 income slides, but FY profit still up

By: Marleny Arnoldi     24th January 2019 NYSE-listed Freeport-McMoRan on Thursday a drop in fourth-quarter revenue and net income, although the base metals miner finished the year on a stronger foot than in 2017 and said it remained confident in the long-term outlook for copper. The miner posted revenue of $3.68-billion in the fourth... 

Freeport-McMoRan Q4 income slides, but FY profit still up
Photo by Bloomberg
Freeport McMoRan president and CEO Richard Adkerson

Fresnillo records strong, but lower-than-expected FY results

By: Tasneem Bulbulia     23rd January 2019 LSE-listed, Mexico-focused miner Fresnillo achieved record silver production, and strong gold production in 2018, despite it being a challenging year for the company. Silver production for the year was 61.8-million ounces, including Silverstream, up 5.3% on 2017, mainly owing to the first full... 

Ariana encouraged by Kizilcukur developments

By: Simone Liedtke     21st January 2019 Updated developments at Turkey-focused Ariana Resources’ Kizilcukur project show that about 2 800 t of mineralised material is currently stockpiled on site, with the potential to double with limited additional trial mining in 2019. Kizilcukur is part of the Red Rabbit Joint Venture (JV) with... 

Silver is precious-metals outcast as 2019 rebound promise fades

By: Reuters     21st January 2019 Silver just completed its worst year in three. Investors are showing no signs of taking a shine to the metal in 2019, either. The commodity has erased its 2019 gain, while gold, platinum and palladium hold onto theirs. Silver futures on Friday posted the biggest weekly loss since November. 

Silver is precious-metals outcast as 2019 rebound promise fades

McEwen output tops guidance

By: Mariaan Webb     15th January 2019 NYSE- and TSX-listed gold miner McEwen Mining reported on Tuesday that its 2018 production had topped its guidance, with gold equivalent output (GE) rising to 175 561 oz, comprising 135 124 oz of gold and 3.03-million ounces of silver. The production compares with 152 329 oz of GE in 2017, and... 

Filo del Sol PFS confirms significant project potential

By: Marleny Arnoldi     14th January 2019 TSX-V- and Nasdaq-listed Filo Mining’s prefeasibility study (PFS) of its Filo del Sol project, on the border of Chile and Argentina, has confirmed the “incredible” copper, gold and silver potential of the project. CEO Adam Lundin said on Monday that the PFS had positive findings, including a... 

Copper Reef raises $500 000 to fund surveys, grid extension at Alberts Lake

By: Marleny Arnoldi     14th January 2019 Canadian Securities Exchange-listed Copper Reef Mining Corporation plans to raise $500 000 through a private placement to fund its grid and surveying activities at the Alberts Lake gold deposit, in Manitoba, Canada. The first tranche of the capital raise will comprise six-million flow-through... 

BC Supreme Court approves Pan American’s acquisition of Tahoe Resources

By: Marleny Arnoldi     14th January 2019 TSX- and NYSE-listed Tahoe Resources on Friday reported that the Supreme Court of British Columbia had approved the proposed transaction whereby Pan American Silver Corporation intends to acquire all of Tahoe’s shares. Both companies’ shareholders have approved the transaction, which is set to... 

Capstone delivers on FY18 copper output guidance

By: Simone Liedtke     11th January 2019 TSX-listed Capstone Mining produced 155.2-million pounds of copper in 2018, in line with expectations, and has set its 2019 output guidance at between 145-million and 160-million pounds of copper at a C1 cash cost of between $1.80/lb and $2/lb. During this year, the Canadian base metals miner... 

Endeavour Silver delivers solid FY18 silver, gold production

By: Marleny Arnoldi     11th January 2019 TSX- and NYSE-listed Endeavour Silver Corporation has reported consolidated silver production of 5.5-million ounces and gold production of 52 967 oz of gold for 2018. The company reported silver-equivalent production of 9.5-million ounces at a 75:1 silver to gold ratio.  

Americas Silver, Pershing Gold shareholders approve business combination

By: Tasneem Bulbulia     10th January 2019 Americas Silver and Pershing Gold on Wednesday announced that their respective shareholders had given the requisite approvals for the merger of the two companies. Americas Silver shareholders approved a special resolution to amend the company’s articles of incorporation to create a new class of... 

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