http://www.miningweekly.com

Global Mining News in real time

Silver News

Cerro Grande pares Q3 loss

By: Henry Lazenby Chile-focused miner Cerro Grande Mining has slightly narrowed its third-quarter loss despite lower sales and prices being offset somewhat by lower costs. The Canadian firm reported a net loss before income taxes for the period ended June 30 of $1.42-million, compared with a loss of $1.59-million... 

EY’s Mining Eye index climbs for first time in a year

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index has gained 4% during the three months ended June, recording a gain for the first time since the second quarter of 2014, compared with a 1% decline in the first quarter. The index outperformed the S&P/TSX Composite index, which slipped 2%... 

EY’s Mining Eye index climbs for first time in a year

South32 sees opportunity to work with Eskom on further coal supply

By: Martin Creamer New diversified mining company South32, which on Monday reported 56%-higher underlying earnings of $1-billion, sees an opportunity to work with Eskom on additional coal supply.   The demerged BHP Billiton entity, which is fast-tracking the implementation of its regional operating model in South... 

South32 sees opportunity to work with Eskom on further coal supply
Photo by Duane Daws
Graham Kerr

Lupaka starts shipping Invicta ore for toll mill testing

By: Henry Lazenby TSX-V- and BVL-listed Lupaka Gold has started shipping a 900 t ore sample from its Invicta gold mine site for an initial toll mill test campaign at a toll mill near La Oroya, in central Peru. The processing campaign would test and demonstrate grinding and recovery kinetics, chemical consumption,... 

Hochschild pins high hopes on Peruvian Inmaculada mine

By: Henry Lazenby With production from the newly commissioned Inmaculada mine, in Peru, ramping up, silver miner Hochschild Mining is on track to meet its full year production target of 24-million attributable silver equivalent ounces (SEOs). Production for the second half of 2015 was expected to improve owing to... 

Rambler reports rising precious-metals grades in copper concentrate shipments

By: Henry Lazenby TSX-V-listed Rambler Metals & Mining has shipped its eleventh consignment of copper concentrate from its Ming copper/gold mine, in Baie Verte, Newfoundland and Labrador, reporting increased precious-metals grades on Wednesday. The 5 250 wet metric tonnes (wmt) shipment had an average grade of 27%... 

Sprott's hostile bid for Canada metal trusts gains ground-source

By: Reuters Nearly a third of investors in precious metals funds Central GoldTrust and Silver Bullion Trust have agreed to a bid from Canada's Sprott Asset Management, a person familiar with the offer said on Tuesday. Sprott, a Toronto-based money manager, has been trying to wrestle control of Central... 

Nevada Copper’s Pumpkin Hollow clears last regulatory hurdle

By: Henry Lazenby TSX-listed Nevada Copper is now fully permitted to start construction and operate its $1.04-billion Pumpkin Hollow openpit and underground copper project, in Nevada, which CEO and president Giulio Bonifacio describes as one of the best mining jurisdictions in the world. "This makes Pumpkin Hollow... 

Peru economy grows 3.87% in June, above expectations

By: Reuters Peru's economy grew by a faster-than-expected 3.87% in June from a year earlier, a strong uptick from May and one of the fastest monthly expansions of the past year, state statistics agency Inei said on Friday. A Reuters poll had forecast a 3% year-on-year expansion in June. The central bank had... 

Fortune Minerals completes restructuring

By: Henry Lazenby Project developer Fortune Minerals on Thursday reported that it had completed the second and final stage of the restructuring agreement entered into with former financing partner LRC-FRSM (Lascaux) and its other secured creditors to settle its secured debt obligations and remove the security over... 

Takeover target SilverCrest lifts FY guidance on strong Q2, bidding war may ensue

By: Henry Lazenby The TSX-listed stock of takeover target SilverCrest Mines on Wednesday closed 12% higher after the company lifted its full-year outlook on the back of a strong second-quarter performance. The Vancouver-based company reported net earnings of $3.87-million, or $0.03 a share, for the second quarter... 

Silver Wheaton profit falls about 15%

By: Reuters Canadian company Silver Wheaton, which provides financing to miners in exchange for the right to buy a share of their future metal production, reported a lower profit, hurt by a rise in costs of sales and lower commodity prices. Net profit fell to $53.7-million, or $0.13 per share, in the second... 

First Majestic’s stock rises despite missing analysts' forecasts

By: Henry Lazenby The NYSE-listed stock of Canadian miner First Majestic Silver on Tuesday gained 6.55% to $3.58 apiece, despite the company missing analysts' second-quarter profit forecasts. During the quarter ended June, First Majestic generated a net loss of $2.6-million, or $0.02 a share, compared with net... 

Golden Queen president and CEO quits

By: Henry Lazenby Long-standing Golden Queen Mining president and CEO Lutz Klingmann has resigned with immediate effect. The project developer on Monday announced that chairperson Thomas Clay would assume the role of interim CEO. 

Endeavour on track to meet production guidance, Q2 financials lower y/y

By: Tracy Hancock Dual-listed Endeavour Silver reported that, following the second quarter ended June 30, it was on track to meet its production guidance and beat its cash cost and all-in sustaining cost guidance for 2015. Silver production for the quarter under review increased 8% to 1.8-million ounces, 35 828 oz... 

Primero’s Mexican export licence reinstated, will realise 2015 silver spot sales

By: Henry Lazenby TSX- and NYSE-listed Primero Mining's Mexican subsidiary Primero Empresa Minera (PEM) has been reinstated to the Mexican customs registry and the company has started selling all inventoried silver. This included about two-million ounces, of which 1.2-million ounces would be delivered under the... 

McArthur again takes reins at Tahoe

By: Henry Lazenby Mineral resources industry veteran Kevin McArthur, with more than 30 years' experience, has again assumed CEO duties at Tahoe Resources following the surprise resignation of Alex Black as CEO and director for personal reasons. Black, a former Rio Alto Mining CEO, was appointed Tahoe CEO in... 

Red-letter day for Primero as it awaits reinstatement of Mexican export licence

By: Henry Lazenby Precious metals producer Primero Mining has received verbal assurances from the Mexican authorities that its export and import permits will be reinstated at the beginning of this month, pending some additional filings to be submitted by the company. In reporting its second-quarter results, the... 

Mexico's Penoles profit up on gold production

By: Reuters Mexican miner Penoles said on Tuesday its net profit rose 42.5% in the second quarter as gold production increased and net financial costs fell. The miner and metals processor, which runs the world's largest primary silver producer, Fresnillo, posted 552.62 million pesos ($35.2-million) in net... 

Gabriel still committed to Roşia Montană despite arbitration

By: Tracy Hancock TSX-listed Gabriel Resources remained committed to the construction and operation of a world-class mine at Roşia Montană, in Romania, noted Gabriel president and CEO Jonathan Henry on Monday. The Canadian resource company, which had been focused on permitting and developing the gold and silver... 

Fresnillo to cut 2015 capex budget

By: Reuters Fresnillo, the world's biggest primary silver producer, said it would cut its planned capital expenditure for this year by 19% to $570-million, hurt by volatility in metal prices. About $90-million of the cut would come from deferred spending at its Cienega and Saucito mines, Chief Executive... 

US gold coin sales soar, turnover up twofold in China

By: Martin Creamer Eagle gold bullion coin sales were up fourfold-plus in the US in July and gold volumes up twofold-plus on the Shanghai Gold Exchange, Mitsubishi Corporation International noted on Monday. Last month the US Mint sold 170 000 oz, the highest number of coins in more than two years, government data... 

US gold coin sales soar, turnover up twofold in China
American Eagle gold coins

First Majestic Silver announces friendly acquisition of SilverCrest Mines

By: Henry Lazenby Mexico-focused precious metals miner First Majestic Silver has agreed to acquire all of the issued and outstanding common shares of SilverCrest Mines in a cash-and-scrip deal. The company advised on Monday that the transaction would enhance First Majestic's position in Mexico, one of the world's... 

First Majestic Silver announces friendly acquisition of SilverCrest Mines

Silver Mines, White Rock mulling transaction

By: Esmarie Swanepoel Australian juniors Silver Mines and White Rock Minerals on Thursday flagged a possible corporate transaction, which could include either a merger or an acquisition. The two companies told shareholders that they had signed a heads of agreement under which Silver Mines would provide White Rock... 

Strong H1 exploration results replace Primero’s full-year depletion

By: Henry Lazenby Precious metals producer Primero Mining expects to replace full-year production with drilling from the first half of 2015 at its Black Fox complex, in Ontario, and the cornerstone San Dimas mine, in Mexico, owing to strong exploration results. At the Black Fox complex, which TSX- and NYSE-listed... 

Fortune Minerals inks restructuring accord with secured creditors

By: Henry Lazenby Canadian miner Fortune Minerals has entered into a two-pronged restructuring agreement with former funding partner LRC-FRSM (Lascaux) and its other secured creditors to settle its secured debt obligations. The TSX-listed company earlier this month announced that its subsidiary Fortune Revenue... 

Argentinian elections heat up as resource sectors offer country platform for recovery

By: Simon Rees It is likely that the new administration of Argentina, which heads to the polls later this year, will be more business friendly and market orientated, with mining and other natural resource sectors playing an increasingly significant role. “The money will start to flow in again once Argentina... 

Argentinian elections heat up as resource sectors offer country platform for recovery

Mexican export permit bungle could hurt Primero’s 2015 silver sales

By: Henry Lazenby The import and export licences of a Mexican subsidiary of precious metals producer Primero Mining were suspended in May by the Mexican customs authorities, resulting in about 880 000 oz of silver not being sold in the three months ended June. Customs authorities had suspended the licences owing... 

Mexican export permit bungle could hurt Primero’s 2015 silver sales

Morro Bay delivers on H1 objectives, marches towards Peñoles PEA

By: Henry Lazenby Junior exploration companies had been butchered in the brutal aftermath of the Great Recession, from December 2007 to June 2009; however, one of the defining features of a successful junior explorer in today’s market was productivity. Companies making tangible progress in achieving set goals on... 

Fortune to refocus on Canadian assets following failed Colorado venture

By: Henry Lazenby While regretting the loss of its only operating asset after failing to repay its creditors, Canada’s Fortune Minerals could potentially emerge from a restructuring positioned to carry on with its flagship Canadian assets without any debt, provided that a negotiated agreement closed within the... 

Fortune to refocus on Canadian assets following failed Colorado venture

Canada’s revenue agency proposes reassessment of Silver Wheaton income tax

By: Henry Lazenby The world’s largest precious metals streaming firm Silver Wheaton intends to vigorously defend its tax filing positions, after it received a proposal from the Canadian Revenue Agency (CRA) to reassess the company under various rules contained in the Income Tax Act. In a letter dated July 6, the... 

Silver Mines reveals growth strategy

By: Esmarie Swanepoel The share price of ASX-listed Silver Mines increased by 50% on Tuesday after the company announced that it would continue with an acquisition drive. Last month, Silver Mines acquired the Conrad silver project, in New South Wales, from fellow-listed Malachite for A$350 000 and the issue of A$125... 

Fortune Minerals defaults on Colorado-based Revenue silver mine debt

By: Henry Lazenby Canadian miner Fortune Minerals has defaulted on a metals prepay agreement with its major financing partner, triggering all amounts and deliveries owing under the contract to become immediately due and payable. Fortune and its subsidiary Fortune Revenue Silver Mines (FRSMI), which owned the... 

Bowmore closes first tranche of private placement, board member resigns

By: Creamer Media Reporter TSX-V-listed Bowmore Exploration has closed the first $355 600 tranche of a nonbrokered private placement with Canadian investors. The precious metals-focused exploration mining company noted on Friday that the gross proceeds raised from the placement were to be used to incur Canadian exploration... 

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
First
Prev
1
2 3 4 5 6 7 8 9 Next Last
RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
R/€ = 14.98Change: -0.10
R/$ = 13.33Change: -0.03
Au 1129.06 $/ozChange: -5.79
Pt 1001.00 $/ozChange: -19.00
 
Subscribe Now for $96
Subscribe Now for $96 Close