R/€ = 15.54 Change: 0.22
R/$ = 13.91 Change: 0.31
Au 1347.95 $/oz Change: 13.03
Pt 1153.50 $/oz Change: 19.00

Silver News

Kootenay to proceed with 3 000 m drilling programme at La Cigarra

By: Samantha Herbst     22nd July 2016 With drill permits now in place, preparations for the 3 000 m drilling programme at Canadian explorer Kootenay’s 100%-owned La Cigarra silver project, in Chihuahua State, Mexico, are well under way, with expectations that drilling will commence on or by August 1. The TSX-V-listed company noted on... 

Hochschild ups guidance on back of strong quarter

By: Megan van Wyngaardt     21st July 2016 LSE-listed precious metals miner Hochschild Mining is raising its full-year production guidance by 6% to 34-million silver equivalent ounces, owing to attributable production in the second quarter exceeding expectations. The company’s operations produced 4.5-million ounces of silver and 67 000 oz... 

Fresnillo adjusts full year guidance following strong Q2

By: Megan van Wyngaardt     21st July 2016 Mexico-focused precious metals miner Fresnillo is raising its gold production guidance for the full year to 870 000 oz, following a 19.6% quarter-on-quarter increase in gold production to 218 000 oz for the three months ended June. The company on Wednesday reported a 23% year-on-year increase to... 

Silver outshines gold with robust H1 performance

By: Simon Rees     15th July 2016 While silver is sometimes called “poor man’s gold”, it has nevertheless outshone the yellow metal’s performance in recent months. Silver reached $20.47/oz on the July 11 London Bullion Market Association fix, a level not seen in almost two years. This was compared with a year-start fix of $14/oz... 

Silver outshines gold with robust H1 performance

Great Panther full-year guidance remains unchanged

By: Megan van Wyngaardt     15th July 2016 TSX-listed silver mining and exploration company Great Panther Silver expects its rate of production to remain the same for the rest of the year, following comparatively flat consolidated metal production in preceding quarters. The South America-focused miner currently mines precious metals from... 

Silver Mines to fast-track Bowdens development

By: Mariaan Webb     15th July 2016 ASX-listed Silver Mines said on Friday that it was fully funded to restart activities at the Bowdens Silver mine, near Mudgee, in New South Wales, and that it would aim to fast-track mine development. The company, which recently took full ownership of the project, said that it was revising and... 

Pneumatic equipment no longer centre stage, but still has place

By: Sebastian Whyle     15th July 2016 The uptake of pneumatic tools at mine sites has slowed, owing to new mining technology and techniques, equipment provider Borwa Mining Instruments MD Lebogang Matlou tells Mining Weekly.  

Pneumatic equipment no longer centre stage, but still has place
RIGOROUS REQUIREMENTS Mining companies are cleaning house, looking for genuine, nonfronting and reliable black-youth-owned mining suppliers

Fruta del Norte gets government go-ahead for exploitation phase

By: Henry Lazenby     14th July 2016 Canadian project developer Lundin Gold, a member of the Lundin Group of Companies, has received a nod of approval from the Ecuador government to take its Fruta del Norte project into the exploitation phase. The TSX- and OMX-listed miner said the Ecuador government had approved a ‘phase change... 

Silver jumps 50%, but beware the devil's metal

By: Reuters     13th July 2016 Silver prices have leapt nearly 50% so far this year, reversing three years of losses, but history shows that investors hoping to hop aboard the bandwagon should be wary. A surge in gold and upbeat prices of industrial metals, along with prospects for yet more monetary stimulus from leading... 

Silver jumps 50%, but beware the devil's metal

LBMA appoints new chairperson

By: Samantha Herbst     13th July 2016 Following an independent executive search procedure, the London Bullion Market Association (LBMA) has appointed Dr Paul Fisher the new chairperson of the association, effective September 5. Due to retire from the Bank of England at month end, Fisher would take the reins from LBMA’s current... 

First Majestic output drops on lower grades

By: Henry Lazenby     12th July 2016 Precious metals producer First Majestic Silver on Tuesday reported a 7.9% quarter-on-quarter drop in silver equivalent ounces (SEO) to 4.68-million ounces, as lower grades at key mines impacted on the company’s second-quarter performance. Lower output from the Santa Elena mine, which produced... 

First Majestic output drops on lower grades

New SEC ruling eases transparency reporting burden on extractive sector

By: Henry Lazenby     12th July 2016 New rules adopted late in June by issuers reporting under the US Securities and Exchange Commission (SEC) held the promise that oil, gas and mining companies operating in Canada, which file annual transparency reports, might now be able to use that same report to meet new US requirements.... 

BofAML rejigs commodity price deck as global economic shocks favour gold over base metals

By: Henry Lazenby     8th July 2016 Bank of America Merrill Lynch (BofAML) has adjusted the price forecast for most mined commodities, citing increased market uncertainty favouring precious metals over the base metals pricing outlook. So far this year, mined commodities have rallied sharply, reinforcing analysts’ view that... 

BofAML rejigs commodity price deck as global economic shocks favour gold over base metals
BofAML sees increased market uncertainty favouring precious metals over the base metals pricing outlook

Reactore Solutions

     8th July 2016 Reactore is a modular ERP system that is uniquely able to integrate with all major software and hardware systems in use at the majority of mines.  The solution is written with Scala, a reactive technology, providing real time data flow for timely scheduling and management of operations and... 

Reactore Solutions

Trevali’s second zinc mine goes commercial as zinc rally beckons

By: Henry Lazenby     7th July 2016 Zinc producer Trevali Mining has declared commercial production at its Caribou mine, in New Brunswick, giving it a second producing zinc mine as an emerging supply gap for the base metal starts to widen. Located in the province’s Bathurst Mining Camp, Caribou was declared in commercial production... 

Trevali’s second zinc mine goes commercial as zinc rally beckons
Photo by Trevali Mining
Trevali Mining's Caribou zinc mine, New Brunswick

Historic data on Sunrise’s Nevada precious metals claims warrants further exploration

By: Henry Lazenby     7th July 2016 London’s Aim-listed Sunrise Resources has acquired historic data from previous explorers on the company’s Clayton silver/gold project, indicating that further drilling was indeed warranted. Historic exploration carried out in the 1980s by Freeport McMoRan and Coeur Exploration had delivered some... 

Some services firms report business revival as several commodity prices rise

By: Henry Lazenby     6th July 2016 Certain mining services providers have reported increased interest from customers on both the investor and mining side, saying the slight recovery for many major commodities so far this year had translated into improved business. “Yes, there’s definite improvement in our business, especially... 

Some services firms report business revival as several commodity prices rise

Excellon, Lithium X lift financings

By: Henry Lazenby     5th July 2016 Canadian silver miner Excellon Resources on Tuesday announced that it had increased a previously announced C$10-million bought deal financing lead by Cantor Fitzgerald Canada to C$13.25-million. The Toronto-based company that operates Mexico’s highest-grade silver mine, the La Platosa mine, said... 

Tembang mine ups output in June quarter

By: Mariaan Webb     5th July 2016 The Tembang gold mine, in Indonesia, delivered higher gold production in the June quarter, owner Sumatra Copper & Gold reported on Tuesday. Gold production increased to 6 387 oz, from 5 406 in the December quarter, while silver production decreased to 91 012 oz, from 121 569 oz in the previous... 

Golden Rim's due diligence into Chile project ‘well advanced’

By: Mariaan Webb     5th July 2016 Australian explorer Golden Rim Resources said on Tuesday that it was aiming to complete the acquisition of a zinc/silver/lead project, in Chile, “as quickly as possible” and reported that only a few matters remained outstanding. Golden Rim, which announced the acquisition of Herencia’s wholly... 

Excellon launches C$10m financing

By: Henry Lazenby     4th July 2016 Mexico’s highest-grade silver producer Excellon Resources on Monday announced that it has reached an agreement with Cantor Fitzgerald Canada to lead a syndicate of underwriters, together with Cantor, in a bought deal financing for total proceeds of C$10-million. The underwriters had agreed to buy... 

Gold eases off near 2-yr high, silver crosses $21/oz

By: Reuters     4th July 2016 Gold eased off a near two-year high, while silver breached the $21 level for the first time since July 2014 in highly volatile trade on Monday, prompted by a burst of short-covering in China. Spot gold rose about 1% at one point to touch a session best of $1 357.60 per ounce. This was close to... 

Gold and silver jump as stimulus bets make them Brexit winners

By: Bloomberg     1st July 2016 Gold climbed for a fifth week and silver surged to the highest price since September 2014 as investors speculated that central banks will need to continue supporting the global economy in the wake of Britain’s vote to quit the European Union. Gold added 0.8% to $1 332.62/oz at 3:20 pm in... 

Silver Mines takes full ownership of Australia’s largest undeveloped silver deposit

By: Mariaan Webb     30th June 2016 ASX-listed Silver Mines and Kingsgate Consolidated have renegotiated the terms of the Bowdens Silver transaction, which resulted in Silver Mines taking 100% ownership. The companies announced in March this year that Silver Mines would buy 85% of the New South Wales-based project for A$20-million... 

Glencore throws full weight behind transparency in money-to-govts report 

By: Martin Creamer     29th June 2016 Global diversified mining and marketing company Glencore threw its full weight behind complete openness in its maiden Payments-To-Governments Report 2015. In a 17-page outline, Glencore CFO Steve Kalmin provides an overview of the $5-billion it paid last year to 16 governments ranging from... 

Glencore throws full weight behind transparency in money-to-govts report
Photo by Duane Daws
Glencore CFO Steve Kalmin

Mining Indaba slashes prices for mining corporates

By: Martin Creamer     29th June 2016 Mining companies attending the upcoming Investing in African Mining Indaba in Cape Town will benefit from significantly reduced registration fees. Mining Indaba officials have introduced price reductions of up to 50% for the February 6 to 9 event, now in its twenty-third year. 

Mining Indaba slashes prices for mining corporates
Mining Indaba MD Jonathan Moore

San José de Gracia production halts on unconfirmed report of two fatalities

By: Henry Lazenby     27th June 2016 TSX-listed Mexico-focused Goldgroup Mining on Monday advised that it had read a news article dated June 26, published by the Sinaloa-based Noroeste newspaper, regarding a reported mandatory shutdown of its 50%-owned San José de Gracia (SJG) mining project by the State government. Goldgroup said... 

Great Panther reports fatality at Guanajuatito mine

By: Samantha Herbst     23rd June 2016 A contract miner has died due to an isolated rock fall at TSX-listed silver miner Great Panther Silver’s Guanajuatito mine, in Mexico. "We feel great sadness over the loss of one of our colleagues, and we offer our sincere condolences to his family and friends," stated Great Panther president and... 

Cyprium finds high-grade zinc at Potosi silver mine, Mexico

By: Henry Lazenby     21st June 2016 Quebec-based explorer Cyprium Mining on Monday reported that samples taken from an oxidised zinc body on Level 14 of its 53%-owned Potosi mine, in Santa Eulalia, Mexico, have returned assay results averaging 37% zinc over a sample width of 1.53 m. The TSX-V-listed company reported that the... 

Average capex overrun for mining companies hits 37% – EDC study

By: Simon Rees     20th June 2016 The average cost overrun for mining projects studied by Export Development Canada (EDC) has reached 37% over the capital expenditure (capex) budgeted, EDC managing principal Tin Lwin told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society in... 

Average capex overrun for mining companies hits 37% – EDC study

Fresnillo discloses $18.4m in payments to Mexico

By: Henry Lazenby     17th June 2016 LSE- and Mexican Stock Exchange-listed silver miner Fresnillo has disclosed payments made to governments in 2015, as required under the UK Reports on Payments to Governments Regulation. The London-based company said it had paid a net amount of $18.4-million to the Mexican government, where it... 

Primero nearly doubles San Dimas district land-holdings

By: Henry Lazenby     15th June 2016 Canadian precious metals producer Primero Mining has acquired a 30 192 ha concession that covers a greenfield swathe of prospective land and 18 km between the San Dimas concession and the Ventanas exploration property, from private vendors. The TSX- and NYSE-listed company on Tuesday stated that... 

Peruvian mining volumes continue to grow as new president takes helm

By: Simon Rees     15th June 2016 The Peruvian mining industry is expected to spur renewed growth in the country as output grows, prices stabilise and revive, several speakers told a recent Peruvian-Canadian Chamber of Commerce economic outlook seminar. The recent Peruvian election was so close that the winner Pedro Pablo... 

Peruvian mining volumes continue to grow as new president takes helm
Photo by Reuters
Incoming Peruvian president Pedro Pablo Kuczynski

Mining’s rebirth under way – Ritchken 

By: Martin Creamer     9th June 2016 New joint action is being brought to bear to arrest the devastating decline of the South African mining industry, which will involve the Mining Phakisa policy intervention seeking to boost the sector by positioning it as the centrepiece within a new, cohesive mining cluster that requires... 

Mining’s rebirth under way – Ritchken
Mining Phakisa's Edwin Ritchken outlines progress to Mining Weekly Online’s Martin Creamer at SAIMM conference. Video & Video Editing: Nicholas Boyd.

Fortuna launches C$129m bid for Goldrock Mines

By: Henry Lazenby     8th June 2016 The TSX-V-listed stock of Goldrock Mines on Wednesday spiked 60% after NYSE- and TSX-listed Fortuna Silver Mines late on Tuesday announced that it had signed a C$129-million definitive agreement to buy Goldrock through a plan of arrangement, which could boost the company's precious-metals... 

PNX forward sells silver to fund Hayes Creek PFS

By: Mariaan Webb     8th June 2016 Base and precious metals explorer PNX Metals reported on Wednesday that the technical components of the prefeasibility study (PFS) of the Hayes Creek zinc, gold and silver project in the Northern Territory was fully funded. PNX has secured A$1.6-million through two agreements for the forward sale... 

Avino declares commercial production in Mexico

By: Henry Lazenby     7th June 2016 Junior miner Avino Silver & Gold Mines has declared effective from April 1 commercial production at the Avino 'ET' mine, located on the Avino property in Durango, Mexico. Following a 19-month advancement and test period, the TSX-V-listed had brought online its second, and largest mine on the... 

Lundin to advance Fruta del Norte to development on positive feasibility

By: Henry Lazenby     6th June 2016 Canadian project developer Lundin Gold, a member of the Lundin Group of Companies, has published the results of a feasibility study for its attractive Fruta del Norte (FDN) gold/silver project, in Ecuador, stating that it would soon move into the development phase for what is one of the... 

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