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McEwen Mining falls below NYSE listing requirements

By: Creamer Media Reporter Dual-listed McEwen Mining has fallen below the NYSE continued listing requirement related to the price of its common stock. "We do not believe that McEwen Mining's current share price is reflective of the true value of the company's assets. Our share price has been under pressure as a result of... 

Pershing Resources starts pilot mill testing, expects modest cash flow 

By: Tracy Hancock Reno, Nevada-based Pershing Resources had started testing its pilot mill at a facility near Kingman, Arizona, in the US, marking the achievement of a major goal for the company and shareholders, Pershing Resources CEO Steve Plumb said on Tuesday. "We have developed the beginnings of a production... 

South32 secures ICMM membership

By: Natasha Odendaal BHP Billiton spin-off South32 has successfully joined the International Council on Mining and Metals (ICMM), a move that is expected to deliver long-term benefits for the new globally diversified metals and mining company and its stakeholders. An independent expert review panel had recommended... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

Production exceeds expectations at McEwen's El Gallo mine

By: Henry Lazenby NYSE- and TSX-listed McEwen Mining has beat the top-end of its second-quarter production guidance, marking the third consecutive quarter of record output at the El Gallo mine, in Sinaloa state, Mexico. This was despite, McEwan reporting, early in the second quarter, that armed robbers stole about... 

Cost management prioritised over cash generation as commodity prices languish in the doldrums

By: Zandile Mavuso Low commodity prices worldwide have resulted in mining operations having to deal with increased pressure in the form of escalating operational costs.  

Cost management prioritised over  cash generation as commodity  prices languish in the doldrums

Malachite proceeds with New South Wales silver project sale

By: Mariaan Webb ASX-listed Malachite said on Wednesday that it was proceeding with the sale of its Conrad silver project, in New South Wales, to fellow-listed Silver Mines. Malachite already received a A$50 000 initial option payment and would receive a second payment of A$50 000 before June 30. On completion... 

Tahoe Resources stock slides 9% on lukewarm demand for offer

By: Reuters Shares in Tahoe Resources fell more than 9% on Tuesday on tepid investor demand for nearly C$1-billion worth of the gold and silver producer's stock, three industry sources said. Goldcorp announced late on Monday that it would sell its 25.6% stake in Tahoe Resources for C$998.5-million in a... 

Nautilus Minerals agrees to stretch PNG State JV-partner options

By: Henry Lazenby The Independent State of Papua New Guinea (PNG) would have another six months to exercise stock options that Canadian marine mining leader Nautilus Minerals had granted to its joint venture (JV) partner in the Solwara 1 offshore project. Under terms of a December 11 JV accord, the country’s... 

Bid in for liquidated Botswana copper mine

By: Martin Creamer An offer of compromise has been tabled for the acquisition of the provisionally liquidated Boseto copper operation in north-west Botswana. Botswana’s Khoemacau Copper Mining has submitted the offer to Discovery Copper Botswana and will know whether its offer has been accepted on Friday, when it... 

Bid in for liquidated Botswana copper mine

Jobless mining engineering graduates plead for look in

By: Martin Creamer Jobless mining engineering graduates are pleading for inclusion in South Africa’s mining industry in preparation for the sector’s inevitable upturn in the future. Speaking to Creamer Media’s Mining Weekly Online in a video interview on the sidelines of the Junior Indaba in Johannesburg, Society... 

Jobless mining engineering graduates plead for look in
Photo by Creamer Media
Smangaliso Musawenkosi (left) and Martin Creamer

Ball mill failure not expected to impact Endeavour Silver’s output

By: Henry Lazenby A 1 600 t/d ball mill failure at Mexico-focused mid-tier miner Endeavour Silver's Bolañitos was not expected to impact full-year output, the company announced on Friday. TSX- and NYSE-listed Endeavour said a motor failure had caused unplanned outage this week. 

South Africa’s geoscience ‘desperately’ underfunded – Nedbank Capital 

By: Martin Creamer Government geoscientists are desperately underfunded, which is depriving South Africa of the geological potential that is essential for minerals exploration. There is an absence of investment in large, regional geological exercises and masters students are not being trained in the... 

South Africa’s geoscience ‘desperately’ underfunded – Nedbank Capital
Photo by Duane Daws
Paul Miller

Marine mining could possibly reduce social and environmental impacts of terrestrial operations

By: Henry Lazenby An independent report on Nautilus Minerals’ Solwara 1 project, offshore Papua New Guinea, has found that the project has the potential to significantly reduce social and environmental impacts commonly associated with large surface terrestrial copper mines. Toronto-based Nautilus had commissioned... 

Mining engineering graduates struggling to find jobs

By: Martin Creamer After decades of undersupply, mining engineering graduates are now struggling to find employment. Even more surprising, writes Professor Emeritus Huw Phillips in the latest edition of the Journal of the Southern African Institute of Mining and Metallurgy (SAIMM), is that some of the best... 

Mining engineering graduates struggling to find jobs
Photo by Duane Daws
Huw Phillips

World Bank member invests C$4.5m in Peru-focused explorer

By: Henry Lazenby Peru-focused explorer Tinka Resources will receive a C$4.5-million investment from World Bank Group member the International Finance Corporation (IFC). IFC said on Thursday that its motivation was to help the company develop Peru's mining sector in a way that promoted job creation and local... 

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed midtier... 

Silvercorp widens FY loss as mine impairment charges weigh

By: Henry Lazenby China-focused miner Silvercorp Metals has reported a wider net loss for the 2015 fiscal year, weighted down by booking $130.3-million in impairment charges at two mines as a result of lower metals prices. For the year ended March 31, the Vancouver-based company reported a net loss of... 

Great Panther Silver eager to start work on Coricancha

By: Henry Lazenby Mexico-focused Great Panther intends to start, as soon as possible, surface drilling at the Coricancha mine complex, through which it has gained a foothold in Peru, the second largest silver producing country in Latin America. The surface drilling will focus on defining and expanding zones of... 

South32 in superb second-day share surge

By: Martin Creamer The share price of the new South32 mining company soared superlatively on day two. The demerged entity shot up 14% on the Australian Stock Exchange (ASX), rose 6.23% on top of Monday’s 3% rise in early morning trade on the Johannesburg Stock Exchange (JSE), and even closed higher at £1.08 a share... 

South32 in superb second-day share surge
Photo by Duane Daws
Mike Fraser at South32 listing in Johannesburg.

South32 shares rise on JSE debut, BHP Billiton shares fall

By: Martin Creamer Value generation from the assets of South32 in the months ahead of its debut on the Johannesburg Stock Exchange (JSE) is indicative the upside potential of the triple-listed BHP Billiton spin-off company, which saw its shares end up well in the money at the JSE's close on Monday and those of BHP... 

South32 shares rise on JSE debut, BHP Billiton shares fall
Photo by Duane Daws
Mike Fraser (left) with Martin Creamer at South32 listing.

Chile cuts mining investment outlook by $30bn over next decade

By: Reuters Chile scaled back its expectations for investment in its vast mining industry by some $30-billion over the next decade, due to fewer gold mines being developed and other projects being delayed, Mining Undersecretary Ignacio Moreno said on Thursday. Mining investment in Chile, the world's top... 

Kootenay Silver options San Diego property to AuRico Gold

By: Henry Lazenby TSX-listed Kootenay Silver on Thursday announced that its Mexican subsidiary Minera JM (MJM) had entered into an option agreement with fellow TSX-listed miner AuRico Gold’s subsidiary Oro de Altar (ODA) that would allow ODA to earn up to a 100% interest in Kootenay’s San Diego property, in... 

Panoro positioned for growth in Peru’s copper-producing nexus

By: Henry Lazenby With a preliminary economic assessment (PEA) for its flagship project in hand and Peru having made it a national goal to double its copper output by next year, Canadian copper explorer Panoro Minerals is positioned for growth. The PEA published early last month on its Cotabambas porphyry... 

Despite cresting 10m silver-equivalent oz output level, Silver Wheaton’s Q1 earnings fall

By: Henry Lazenby The world’s largest precious metals streaming firm Silver Wheaton has, for the first time, produced more than ten-million silver-equivalent ounces in a quarter, driven by its recent $900-million acquisition of a further 25% of gold from Vale’s Salobo mine, in Brazil, as well as the first... 

Despite cresting 10m silver-equivalent oz output level, Silver Wheaton’s Q1 earnings fall

Hudbay narrows Q1 loss, declares commercial production at Constancia

By: Henry Lazenby Canadian base metals miner Hudbay Minerals has reported a narrower first-quarter loss on the back of improved output and sales, despite reporting a significant inventory build-up. The Toronto-based company, with assets in Canada, the US and Peru, reported a net loss of $23.7-million, or $0.10 a... 

Recent royalty acquisitions lower Franco-Nevada headline earnings

By: Henry Lazenby Precious metals royalty and streaming firm Franco-Nevada has reported lower adjusted profit for the three months ended March 31, as higher depletion and costs of sales related to its recent royalty acquisitions, such as at Candelaria, Sabodala and Fire Creek, were only partially offset by lower... 

Primero reports strong start to year owing to San Dimas

By: Henry Lazenby Precious metals producer Primero Mining reported a strong start to the year, as better-than-expected performance by the company’s cornerstone San Dimas mine, in Mexico, underpinned a significant production and cost improvement. The TSX- and NYSE-listed miner on Wednesday said it’s headline... 

Endeavour Silver’s Q1 profit sags on lower output, prices

By: Henry Lazenby Mexico-focused miner Endeavour Silver has reported lower net earnings for the first quarter as lower output, prices and higher costs offset gains in currency fluctuations. For the three months ended March 31, the NYSE- and TSX-listed company, which operates the Guanaceví mine, in Durango state,... 

No relief for Canada's BC as PwC expects challenges to continue into 2015

By: Henry Lazenby British Columbia's (BC's) mining sector was not showing any early signs of improvement in 2015; however, investment in the mining industry needed continue despite today's challenging conditions, advised PwC's BC mining practice partner and leader, Mark Platt. "Miners need to keep exploring if... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

By: Henry Lazenby A new study has found that the cost to explore and build new mines is as much as 2.5 times higher in northern Canada, mainly as a result of a lack of critical infrastructure. The study, titled ‘Levelling the Playing Field’, found that the cost of mineral exploration and building and operating... 

Exploration and mine development up to 2.5 times more costly in Canada’s North
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