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Silver News

Santacruz to consolidate ownership of Veta Grande, Minillas properties

By: Henry Lazenby     24th June 2017 Canadian junior Santacruz Silver Mining has signed an option agreement with certain private Mexican companies known as Contracuña under which Santacruz aquired an option to buy a 100% interest in the Veta Grande and Minillas properties, for $15.5-million, the company announced on Wednesday. The... 

Guatemala police clears protesters, access to Tahoe’s blocked Escobal mine

By: Henry Lazenby     23rd June 2017 Police have used teargas to clear a public road near the town of Casillas, in south-east Guatemala, of protesters blocking access to Canadian miner Tahoe resources’ controversial Escobal mine, the third-largest silver mine in the world. The TSX- and NYSE-listed miner said in a statement on Friday... 

South32 awards R158m coal contract to 100% black-owned mining firm

By: Martin Creamer     22nd June 2017 Diversified mining company South32 has awarded a three-year, R158-million contract at the Wolvekrans Middelburg Complex to 100% black-owned Modi Mining, which aims to source up to 90% of its labour from the nearby communities. The award marks an advance on the ASX- and JSE-listed company’s plans... 

South32 awards R158m coal contract to 100% black-owned mining firm
Photo by Duane Daws
South32 president and COO Africa Mike Fraser

Slow, bumpy market recovery on the cards for most commodities

By: Henry Lazenby     22nd June 2017 The global commodity market is probably in for a slow, drawn-out recovery following the five-year bear market, S&P Global Market Intelligence director for reports on the metals and mining sectors Dr Chris Hinde said during a webcast on Wednesday. According to S&P’s ‘State of the Market’ report,... 

Slow, bumpy market recovery on the cards for most commodities

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Mining Charter exposing South African economy to GATT angst
Photo by Duane Daws
Herbert Smith Freehills co-chair Peter Leon

Mining Charter set to worsen stakeholder relations – Bench Marks

By: Martin Creamer     20th June 2017 The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a... 

Mining Charter set to worsen stakeholder relations – Bench Marks
Photo by Reuters
Rt Rev Dr Jo Seoka, chairperson of the Bench Marks Foundation, which has launched a scathing attack on the new Mining Charter.

Access to Tahoe’s Escobal mine blocked, guidance remains unaffected

By: Henry Lazenby     20th June 2017 Protestors near the town of Casillas, in south-east Guatemala, have blocked access to precious metals miner Tahoe Resources’ flagship Escobal mine, the third-largest silver mine in the world. The protests appear to relate to a variety of issues, including claims that mining at Escobal is causing... 

Access to Tahoe’s Escobal mine blocked, guidance remains unaffected
Photo by Tahoe Resources
Tahoe Resources' Escobal mine, in Guatemala

Santacruz discovers new vein crosscutting existing Membrillo structure

By: Henry Lazenby     20th June 2017 TSX-V-listed junior Santacruz Silver Mining has discovered a new mineralised vein crosscutting the Membrillo silver/zinc/lead/gold vein structure, located about 4 km from the company's Rosario mill located near Charcas, San Luis Potosi, in Mexico. Vancouver-based Santacruz on Monday said its... 

Desert Star announces transformational transaction as it buys Capstone’s Kutcho project

By: Henry Lazenby     17th June 2017 TSX-listed base metals company Capstone Mining has agreed to sell its Kutcho copper/zinc/gold/silver project to TSX-V-listed Desert Star Resources for C$28.8-million in cash. The payment will also include a scrip portion to give Capstone a 9.9% stake in Desert Star upon closing. 

Trevali strikes more zinc at New Brunswick mining camp

By: Henry Lazenby     16th June 2017 Canadian base metals producer Trevali Mining has hit more high-grade zinc intercepts during its 2016/17 exploration campaign on the Halfmile deposit, located in the Bathurst Mining Camp of north-eastern New Brunswick. Designed to validate historic data as well as to expand and improve upon the... 

Chamber going to court to halt devastating charter blow to already battered mining sector 

By: Martin Creamer     15th June 2017 The Chamber of Mines of South Africa will be applying at the earliest opportunity for a court date for a declaratory order on continuing empowerment consequences, as well as immediately seeking an interim court interdict to suspend the implementation of Mining Charter Three, the devastating set... 

Chamber going to court to halt devastating charter blow to already battered mining sector
Photo by Creamer Media
Chamber of Mines of South Africa president Mxolisi Mgojo

South African Reserve Bank says platinum coin concept not viable 

By: Terence Creamer     12th June 2017 The South African Reserve Bank (SARB) has no intention of mandating the South African Mint to produce a platinum coin to be marketed along the lines of the successful Krugerrand gold coin, revealing that feasibility studies have shown the concept to be unviable. Deputy governor Francois Groepe... 

South African Reserve Bank says platinum coin concept not viable
Platinum and silver coins are being included in sets commemorating the fiftieth anniversary of the Krugerrand this year

IHS Markit's materials price index registers 3.1% weekly decline

By: Henry Lazenby     9th June 2017 A broad basket of commodities tracked by market research house IHS Markit has declined the most in a single week since mid-April, falling 3.1% last week in a broad retreat. IHS senior economist Ben Orhan said in a news release to Mining Weekly Online on Thursday that the commodity price index... 

Mexico owes Canada miners over $360m, led by Goldcorp – documents

By: Reuters     9th June 2017 Mexico's tax agency is holding over $360-million in tax rebates owed to six Canadian miners, including $230-million to Goldcorp, according to sources and official documents seen by Reuters, escalating the situation into a showdown between the Mexican government and Canadian mining firms operating... 

Mexico owes Canada miners over $360m, led by Goldcorp – documents
Photo by Endeavour Silver
Endeavour Silver's Guanavevi mine, in Mexico

Phosa condemns charter tinkering, urges growth negotiations  

By: Martin Creamer     7th June 2017 Stop tinkering with sector charters and instead negotiate them in a manner that creates room for sizable growth, African National Congress (ANC) National Executive Committee member Dr Mathews Phosa urged on Wednesday. Delivering the keynote address at the Junior Indaba, the former premier of... 

Phosa condemns charter tinkering, urges growth negotiations
African National Congress National Executive Committee member Mathews Phosa addressed the Junior Indaba, which was cover by Mining Weekly Online’s Martin Creamer. Photograph: Duane Daws. Video and Video Editing: Darlene Creamer

Endeavour Silver acquires more Mexican exploration properties

By: Henry Lazenby     7th June 2017 Canadian primary silver producer Endeavour Silver has acquired two small but prospective mineral property groups, Calicanto and Veta Grande, located in the historic silver mining district of Zacatecas, in Mexico. All of the properties host old mines and/or known silver/gold veins that were... 

Polymetal extends Sberbank facility

By: Creamer Media Reporter      5th June 2017 Gold and silver miner Polymetal has extended its existing $400-million credit facility with Sberbank for another seven years in a move which CEO Vitaly Nesis say is an “excellent deal” for the company. The original loan facility dates back to November 2013 and provided for the bullet repayment in... 

Young bull run kickstarts cyclical mining industry into exploration mode

By: Henry Lazenby     2nd June 2017 With the commodity and equity markets in much better shape than a year ago, mining industry players are navigating the early days of a new bull run with renewed interest in exploration and mergers and acquisitions activity to secure future supplies. While the commodity market is perhaps not... 

Young bull run kickstarts cyclical mining industry into exploration mode
Photo by Resource Maven
Resource Maven newsletter writer Gwen Preston on a mining site visit

Polymetal ups stake in Kazakhstan project; starts board succession

By: Creamer Media Reporter      1st June 2017 Russian gold and silver miner Polymetal has increased its interest in the Dolinnoye gold property in Kazakhstan to 50%, after paying $1.6-million for an additional 25% stake. The transaction completes an earn-in agreement between Polymetal and its partner on the property, which is set to feed... 

Polymetal ups stake in Kazakhstan project; starts board succession
Photo by Duane Daws
Polymetal chairperson Bobby Godsell

Judge blocks Montana mine over environmental concerns

By: Reuters     1st June 2017 A federal judge in Montana has blocked the development of a contested mine next to a wilderness area in the northwestern part of the state, handing a victory to environmental activists who had argued the project could endanger grizzly bears and bull trout. Citing the Endangered Species Act and... 

Yamana continues with Gorbea earn-in

By: Henry Lazenby     31st May 2017 Gold major Yamana Gold has decided to proceed with its 75% option agreement on Mirasol Resources’ Gorbea belt projects, in Chile. Optioned in March 2015, junior Mirasol announced on Tuesday that it had received a $400 000 option payment from Yamana as confirmation that it would continue... 

Lundin Gold seals $450m finance package for Fruta del Norte; moves first gold forward

By: Henry Lazenby     30th May 2017 Canadian project developer Lundin Gold has unveiled a $400-million to $450-million financing package with the Orion Mine Finance Group (Orion) and Blackstone Tactical Opportunities to fund construction of its flagship Fruta del Norte project, in Ecuador. According to the Vancouver-based company,... 

Lundin Gold seals $450m finance package for Fruta del Norte; moves first gold forward
Photo by Lundin Gold
Lundin Gold's Fruta del Norte camp, Ecuador

Alba Minerals’ CEO to step down

By: Creamer Media Reporter      30th May 2017 Michael Nott will step down as CEO of Aim-listed Alba Mineral Resources, effective June 1. He will, however, remain on the company’s board as nonexecutive director. 

Zambezi Protocol to serve as guide for identity-changing chamber 

By: Martin Creamer     29th May 2017 The 128-year-old Chamber of Mines of South Africa provided an important indicator of its intended new direction when it revealed that the Zambezi Protocol would be its guiding light as it embarked on its identity and name-change programme. Under unanimously elected new president of Mxolisi Mgojo,... 

Zambezi Protocol to serve as guide for identity-changing chamber
Mining Weekly Online’s Martin Creamer asks new Chamber of Mines office bearers to spell out the influential institution’s decision to change its 128-year-old name and identity. Photographs and Video: Duane Daws. Video Editing : Lionel d Silva.

Northern Vertex, Greenstone partner to accelerate Moss mine development; US gold consolidation

By: Henry Lazenby     26th May 2017 Canadian project developer Northern Vertex Mining and Guernsey-based private equity fund Greenstone Resources has formed a partnership that will strengthen Northern Vertex’s balance sheet and expedite construction, procurement and staffing initiatives as the company works up to declaring... 

Peru allows Bear Creek to recover Corani tax

By: Henry Lazenby     26th May 2017 TSX-V-listed project developer Bear Creek Mining has signed an agreement with the Peru Ministry of Energy and Mines (MEM) and ProInversion (an agent for the Peru government) that allows the company to recover, at its option and on an accelerated basis, the 18% taxes applied to engineering and... 

Bolívar mine, Mexico

By: Thabi Madiba     26th May 2017 A copper/silver/zinc/gold mine located in Urique, in Mexico. 

Bolívar mine, Mexico

Botswana receives load bank system order

By: Simone Liedtke     26th May 2017 The first load bank system from power-generating brand supplier Vert Energy – the Southern Africa distributor of Asco power switching and control components – was supplied to private equity company Peter Investments, in Botswana, last month. 

Botswana receives load bank system order
SECURING SUPPLY Vert Energy plays a role in providing dependable power to companies, even in Africa’s most remote countries – such as Botswana

New company aims to be ‘unrivalled’ service provider

     26th May 2017 With a focus on safety and supporting its customers, the process of integrating diversified industrial-use products and services provider Komatsu and high-productivity mining solutions provider Joy Global has begun, following the conclusion of a $3.7-billion deal in April. On May 8, executive... 

New company aims to be ‘unrivalled’ service provider
RETAINING FOCUS Newly renamed Komatsu Mining will continue to promote and invest in the Joy Global P&H, Joy and Montabert brands

Silver prices seen improving steadily in coming years amid renewed investor demand

By: Ilan Solomons     26th May 2017 Silver prices are likely to continue to rise in 2017 and to do so over the next several years. This is according to New York-based research and consulting firm CPM Group’s recently released ‘2017 Silver Yearbook’ report. The report notes that in 2016 the downward cyclical move of silver appeared... 

Silver prices seen improving steadily in coming years amid renewed investor demand
Photo by KMG
MODERATE IMPROVEMENT PREDICTED Silver prices are not anticipated to increase to ‘phenomenal levels’ once more, but it is predicted that there will be some price improvements

‘Attractive’ copper project advances on back of $50m loan

By: Simone Liedtke     26th May 2017 Copper miner Cupric Canyon Capital has secured $50-million to develop its Khoemacau underground mine in north-west Botswana and bring the copper-silver project into production. 

‘Attractive’ copper project advances on back of $50m loan
Photo by Bloomberg
OUTPUT OUTLOOK The first shipment of the red metal to markets is expected in 2019

NGO sues Guatemala mining Ministry for issuing Escobal licence

By: Henry Lazenby     24th May 2017 TSX- and NYSE-listed Tahoe Resources reported Wednesday that a Guatemala-based nongovernmental organisation (NGO) has filed a claim against the Guatemalan Ministry of Energy and Mines (MEM), alleging that the Ministry failed to consult with a local indigenous group before granting the mining... 

NGO sues Guatemala mining Ministry for issuing Escobal licence
Photo by Tahoe Resources
Escobal, Guatemala

Access to First Majestic’s La Encantada mine blocked by rogue protestors

By: Henry Lazenby     24th May 2017 A group of rogue unionised employees at First Majestic Silver’s La Encantada mine, in Mexico, has formed an illegal blockade, blocking access to the mine and forcing operations to a halt, the company reported Wednesday. These rogue workers cited disagreement with the most recent bonus pay-out,... 

Acacia’s shares fall as Tanzania committee says it under-declared concentrate exports

By: Creamer Media Reporter      24th May 2017 Acacia Mining’s share price on the LSE fell by more than 20% on Wednesday after it reported that a Tanzanian Presidential Committee that was set up to investigate if mining companies are paying their fair share of taxes, had found that the gold miner had not fully declared all minerals contained... 

Inflated base case prices could dent confidence in mine development

By: Henry Lazenby     19th May 2017 Project valuations based on elevated price assumptions in the absence of more reasonable scenarios to provide a more balanced view to the market is potentially damaging to the credibility of management teams, their consultants and the mining industry as a whole, London-based boutique investment... 

Inflated base case prices could dent confidence in mine development

Alcohol testing, education longterm solution to abuse

By: Simone Liedtke     19th May 2017 Testing backed up by educational programmes is a tried and tested method, proven to reduce alcohol-related incidents, drive down absenteeism and improve overall productivity in the mining sector, alcohol detection technology and services provider Alco-Safe director Rhys Evans tells Mining Weekly. 

Alcohol testing, education longterm solution to abuse
EFFECTIVE TESTING Testing needs to be carried out every single day as part of the mine’s standard health and safety policy to be effective

Fibre-optic pyrometer offers South Africa greater accuracy

By: Nadine James     19th May 2017 The South African minerals and metals processing industry has yet to take advantage of the fibre-optic Calex Fibre-Mini pyrometer, compared with the response from international markets, which has been favourable. The pyrometer, used to measure temperatures of reflective metals, was developed by... 

Fibre-optic pyrometer offers  South Africa greater accuracy
FIBRE-MINI PYROMETER The fibre-optic sensing head withstands up to 200 °C ambient temperature

Legislation plays ‘big role’ in uptake of healthcare services 

By: Simone Liedtke     19th May 2017 In many countries, health and safety legislation is either nonexistent or not effectively enforced and, therefore, greatly influences the number of mining-related work opportunities available for healthcare service providers, such as International SOS in Midrand, South Africa 

Legislation plays  ‘big role’ in uptake  of healthcare services
International SOS medical director Dr Charl van Loggerenberg speaks about 'Duty of Care' and the company's services and products. Camerawork: Nicholas Boyd. Editing: Lionel da Silva
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