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Silver News

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

By: Martin Creamer     Updated 5 hours ago 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... 

Mining Indaba slashes prices for mining corporates

By: Martin Creamer     Updated 6 hours ago 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

Mine superpower status awaits Peru if new leader can woo farmers

By: Bloomberg     10th June 2016 Arriving late to the mining boom helped Peru defy a global freeze on project spending as prices plunged. Now the pipeline’s drying up, and the country’s chances of joining neighbouring Chile as a copper superpower depend largely on the next president’s affinity with remote communities. For Pedro... 

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
Photo by Creamer Media
Mining Phakisa strategist Edwin Ritchken

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... 

Dundee on track to start Krumovgrad construction in Q3

By: Henry Lazenby     6th June 2016 Toronto-based Dundee Precious Metals (DPM) expects to start construction of its 85 700 oz/y Krumovgrad gold project, located in southern Bulgaria, as early as the third quarter, the company said on Monday. In its latest project update, the TSX-listed miner reported a $14.2-million increase in... 

Primero to file investment dispute with Mexico under Nafta provisions

By: Henry Lazenby     3rd June 2016 Primary silver producer Primero Mining has issued a notice of intent to submit a claim to international arbitration against the Mexican government under provisions of the North American Free Trade Agreement (Nafta), it said on Thursday. The dispute was rooted in Mexican tax authorities in... 

Brazil to see increasing investment, M&A as mineral prices stabilise

By: Henry Lazenby     2nd June 2016 In the wake of stabilising commodity prices led by a gold rally in the first quarter, the Brazilian mining sector is set to play host to increased investment and mergers and acquisitions (M&A) activity. Host to miners such as Yamana Gold and spin-out Brio Gold, Eldorado Gold, Belo Sun Mining,... 

Brazil to see increasing investment, M&A as mineral prices stabilise
Photo by Reuters
Brazil's mining sector will see a number of high-value deals, as overleveraged producers sell high-quality assets

Mining ‘most transparent’ – Corruption Watch 

By: Martin Creamer     30th May 2016 The Chamber of Mines of South Africa on Monday welcomed the Corruption Watch report on transparency in corporate reporting, which found that South Africa’s most transparent companies came from the mining sector. Gold Fields, BHP Billiton and Anglo American Platinum come out tops in the report,... 

Mining ‘most transparent’ – Corruption Watch
Chamber CEO Roger Baxter

Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-on-month in April as energy gains more than offset metals weakness. 

Commodity price indices rally as oil picks up where metals left off

Purpose completes Silver Bullion Trust conversion into ETF, offers currency-hedged ETF units

By: Henry Lazenby     26th May 2016 Investment management firm Purpose Investments has completed the conversion of the Silver Bullion Trust (SBT) into an open-ended exchange traded fund (ETF) and both US-dollar and Canadian-dollar denominated non-currency hedged units of the fund started trading on the TSX on Thursday. The fund had... 

Anglo Pacific optimistic about higher 2016 royalty income

By: Creamer Media Reporter      25th May 2016 LSE- and TSX-listed Anglo Pacific expects its royalty income for the full 2016 financial year to be significantly higher than the £8.7-million earned in 2015. The company noted in a trading update on Wednesday that royalty income for the first quarter of the year, ended March 31, was... 

Azure raises A$15m for Mexico project

By: Mariaan Webb     23rd May 2016 ASX-listed Azure Minerals has secured A$15-million to advance exploration and development studies at the Alacrán silver and gold project, in Mexico. The company reported on Monday that it would issue 395-million shares at A$0.038 to institutional and sophisticated investors in two tranches. One... 

Santacruz completes technical study on Veta Grande prospect

By: Henry Lazenby     18th May 2016 Santacruz Silver Mining has completed an independent technical report on the Veta Grande project, in Zacatecas state, Mexico, marking a first step in the TSX-V-listed company's planned systematic review of its mineral prospects located in the region and forming a basis for further exploration and... 

Australia miners ‘missing in action’ in Colombia

By: Samantha Herbst     18th May 2016 Australia’s resource houses are “missing in action” in Colombia, Latin America’s third-largest economic powerhouse, and need to move quickly to increase their engagement with the mineral-rich State, said Colombian Mining Association president Santiago Angel Urdinola. Addressing the Paydirt 2016... 

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Miners adapting to more austere fundamental backdrop – report

Confidence in Namib project builds despite drill rig issues

     13th May 2016 Aim-quoted mineral resource exploration and development company North River Resources notes that reliability issues with drill rigs at its Namib project, in Namibia, have put pressure on the scheduled completion of the project’s drilling campaign by end June.  

Confidence in Namib project builds despite drill rig issues
DRILLING DEVELOPMENTS The contracted Diamec rig at the Namib project continues to be used for longer drill holes, while the company’s Kempe drill continues with shallower infill and extension targets

End of commodities boom hits African countries

By: Keith Campbell     13th May 2016 "The global commodity super cycle has come to an end, sharply lowering the price of oil, gas, metals and minerals," stated the World Bank in its most recent Regional Overview for Africa (published in late March). "As a net commodities exporter, Africa is deeply affected by falling commodity... 

End of commodities boom hits African countries

Silver price decline slowing, 2016 may see improvement – CPM

By: Ilan Solomons     13th May 2016 Silver prices continued to decline for the fourth consecutive year in 2015. However, the pace of decline slowed, relative to the previous two years, states New York-based research and consulting firm CPM Group. CPM’s current analysis, as outlined in detail within its 217-page 2016 Silver... 

Silver price decline slowing, 2016 may see improvement – CPM
SILVER LINING? Prices may see stronger support as all of silver’s market fundamentals come together to aid silver prices

Trevali revises Santander cash costs down 12.5%, as income rises

By: Henry Lazenby     12th May 2016 Zinc-focused Trevali Mining has reported a first-quarter profit as strong performance from its Peru-based flagship Santander operations lifted the balance sheet back into the black. Vancouver-based Trevali delivered an “exceptional quarter”, as rising zinc output offset somewhat lower lead and... 

New deal places platinum bars, coins within reach

By: Martin Creamer     11th May 2016 The World Platinum Investment Council (WPIC) and Valcambi on Wednesday announced a partnership to increase the availability of platinum bar and coin products for the global retail market, marking the latest in a series of new strategic initiatives by the world platinum body to stimulate further... 

New deal places platinum bars, coins within reach
Marcus Grubb

Silver Wheaton shares struggle as Q1 earnings-miss hurts

By: Henry Lazenby     9th May 2016 The TSX- and NYSE-listed stock of the world’s biggest precious metals streaming firm Silver Wheaton was under pressure Monday after the company reported weaker-than-expected earnings for the first quarter ended March 31. Net income for the period totalled $41-million, or $0.10 a share, down from... 

Silver Wheaton shares struggle as Q1 earnings-miss hurts

Gosowong mine, Indonesia

By: Sheila Barradas     6th May 2016 A gold/silver mine on the island of Halmahera, in North Maluku province, in Indonesia. 

Gosowong mine, Indonesia

Lower 2015 silver prices drive record demand

By: Henry Lazenby     5th May 2016 The global silver market saw record demand in 2015, driven by new highs in the jewellery, coin and bar, and photovoltaic sectors, which helped boost total silver demand to 1.17-billion ounces last year, according to a new report by market analysts at Thomson Reuters GFMS. Its latest World Silver... 

Lower 2015 silver prices drive record demand

Companies bought to enhance training offering

     29th April 2016 Training, supply and management group Workforce Holdings announced in January that it had acquired the various operating companies comprising outsourcing solutions providers Quyn Outsource Solutions. Workforce has predominantly placed staff in nontechnical positions and adding Quyn to its service... 

Companies bought to  enhance training offering
Photo by Bloomberg
SKILLS OFFERING EXPANDED Quyn Outsource Solutions’s e provision of technical skills to clients across a range of industries represents diversification for Workforce

Legal frameworks key to mining growth in West Africa

By: Simon Sonnekus     29th April 2016 Revised tax rules and regulations have allowed for greater competition for foreign direct investment and pressure from major donors in the West Africa mining sector, according to Pan-African arbitration and commercial litigation law firm Centurion Law Firm. Centurion Law Firm Legal services... 

Legal frameworks key to  mining growth in West Africa
Photo by Bloomberg
REMARKABLE RESERVES Africa harbours the world’s largest mineral reserves of platinum, gold, diamonds, chromite, manganese and vanadium

MetSkill

By: Creamer Media Reporter      29th April 2016 Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

Mineworkers empowered

By: Kimberley Smuts     29th April 2016 If workers in the mining, energy and construction industries want to improve their financial situation, it is important that they take advantage of the financial literacy programmes currently being rolled out by financial assistance provider Mineworkers Investment Trust (MIT), which supports... 

Mineworkers empowered
Photo by Bloomberg
INVESTING FOR THE FUTURE The Mineworkers Investment Trust's financial literacy training started in Mpumalanga as a pilot study in June 2015 with more training expected to take place this year
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