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Peru rules out tax breaks or subsidies to counter slowdown

By: Reuters Peru's government has ruled out cutting taxes or introducing subsidies to encourage investment and cushion export sectors from the worst economic slowdown in five years, the minister responsible for industry said on Thursday. The government said earlier this year that it was considering... 

Concerns about possible deflationary spiral as commodity prices continue to slide

By: Henry Lazenby In a global economy witnessing passive consumer inflation, sluggish wage growth and falling commodity prices, some market observers have shown concern about the potential for deflation in developed markets. Last month, gold dipped below $1 200/oz, before recovering marginally, as inflation... 

Concerns about possible deflationary spiral  as commodity prices continue to slide

LBMA names Morgan Stanley as gold, silver market maker

By: Reuters The London Bullion Market Association (LBMA) said on Thursday it appointed Morgan Stanley as a market maker, underscoring the ambitions of some banks to expand into precious metals trading while others exit due to stringent regulations. LBMA said it named Morgan Stanley & Co International, a... 

LBMA names Morgan Stanley as gold, silver market maker

Precious metals markets influenced by monetary conditions, industrial metal prices remain detached – report

By: Leandi Kolver While precious metal markets were influenced by monetary conditions, industrial metals have managed to remain somewhat detached from generic economic conditions, with prices being determined by fundamentals of supply and demand that were, in many cases, specific to each metal, French corporate... 

Precious metals markets influenced by monetary conditions, industrial metal prices remain detached – report

Prophecy Coal to buy high-grade Bolivian silver producer

By: Henry Lazenby Vancouver-based Prophecy Coal on Wednesday announced that it had agreed to buy two of TSX-V-listed Apogee Silver’s subsidiaries in order to acquire the Pulacayo-Paca silver/lead/zinc mine, in Bolivia. Prophecy Coal has a diverse portfolio of projects including coal mining and thermal power... 

Prophecy Coal to buy high-grade Bolivian silver producer
Photo by Prophecy Coal
Pulacayo-Paca, Bolivia

Mexican miner Fresnillo looks to hedge some gold output

By: Reuters Mexican miner Fresnillo reported a small drop in quarterly silver production and said it could hedge a part of its gold output to protect its recent investment in the Herradura corridor in northern Mexico. Shares in the miner fell as much as 3.4% on Wednesday morning, making the stock one of the... 

Bottom reached as upside potential for gold equities grows, IBK Capital

By: Simon Rees Opportunities for equity investors seeking to achieve gains from the next upcycle, particularly in the gold space, as the bottom in the market is reached, are growing, IBK Capital president and CEO Michael White told attendees at the recent Cambridge House Toronto Resource Investment Conference.... 

Bottom reached as upside potential for gold equities grows, IBK Capital

Freeport-McMoRan to sell Candelaria/Ojos stake for $1.8bn

By: Henry Lazenby Diversified US miner Freeport-McMoRan on Monday said it had agreed to sell its 80% stake in the Candelaria/Ojos del Salado copper mining operations and supporting infrastructure to Lundin Mining for at least $1.8-billion in cash. The remaining 20% ownership stake would continue to be held by... 

Freeport-McMoRan to sell Candelaria/Ojos stake for $1.8bn

Fortune Minerals completes Revenue Silver Mine acquisition

By: Henry Lazenby Canadian silver producer Fortune Minerals has consolidated possession of the Colorado-based Revenue Silver Mine (RSM), underlining its strategic transition from project developer to miner, with two organic development assets waiting in the wings. The TSX-listed miner on Wednesday took delivery of... 

Fortune Minerals completes Revenue Silver Mine acquisition

Namib project development still priority for North River

By: Leandi Kolver Aim-listed North River Resources will continue to prioritise the development of its 1.25-million tons Namib lead/zinc/silver project, in Namibia, North River MD Martin French said on Tuesday. French pointed out that the asset had the potential to generate meaningful revenues in the near term as... 

Namib project development still priority for North River

Barrick named exclusive metals provider for medals of Toronto 2015 games

By: Henry Lazenby The world’s biggest gold producer, Canada-based Barrick Gold on Monday announced that it had been named the Toronto 2015 Pan Am/Parapan Am Games’ official metal supplier. The NYSE- and TSX-listed company would supply all the raw materials used to make the more than 4 000 gold, silver and bronze... 

Barrick named exclusive metals provider for medals of Toronto 2015 games

Southern Cross polishes off Manuka for year-end production

By: Esmarie Swanepoel ASX-listed Southern Cross Goldfields was on track to produce the first silver at its newly acquired Manuka project, in New South Wales, by year-end. Southern Cross on Thursday reported that it had completed the acquisition of the Manuka project, previously known as the Wonawinta silver project,... 

Southern Cross polishes off Manuka for year-end production

Fortune continues with Revenue deal, reports maiden mining revenue

By: Henry Lazenby Colorado silver producer Fortune Minerals last week reported that it had paid the vendors of the Revenue silver mine (RSM), in the southwest of the state, an undisclosed amount toward gaining full ownership of the mine. The London, Ontario-based firm on Thursday stated that it had received... 

Fortune continues with Revenue deal, reports maiden mining revenue
Photo by Fortune Minerals
Revenue, Colorado

Silver slumps to four-year low; gold looks likely to test $1 200

By: Reuters Silver's sell-off extended to a second session on Monday, with the metal tumbling to a four-year low, as investors unwound long positions amid strength in the dollar and the possibility of a sooner-than-expected US rate hike. Weakness in gold, which fell to its lowest since January and was edging... 

Silver slumps to four-year low; gold looks likely to test $1 200

Trevali’s Caribou project remains on track

By: Creamer Media Reporter Zinc-focused, base metals mining company Trevali Mining on Thursday said its Caribou mine and mill complex project remained on track and within budget, with commissioning still expected to start in the first half of next year. The Caribou zinc/lead/silver mine and mill complex, located in the... 

Moderate global economic growth outlook forces miners to keep promises

By: Henry Lazenby The most critical challenge miners needed to deal with during the next 12 months was to deliver on their promises of cost savings and regain the confidence of the capital markets, professional services firm KPMG Canada’s mining industry leader Lee Hodgkinson said on Thursday. Speaking to Mining... 

Moderate global economic growth outlook forces miners to keep promises

Market doldrums support ‘good times for streaming firms’ – Smallwood

By: Henry Lazenby The current sideways-to-down market was providing good opportunities for the handful of precious metals streaming firms which were consistently turning a profit – albeit at lower margins – despite the continued doggedly low commodity price environment. Precious metals streaming pioneer Silver... 

Market doldrums support ‘good times for streaming firms’ – Smallwood
Photo by Bloomberg
Silver Wheaton president and CEO Randy Smallwood

Primero revises FY output, cost guidance

By: Creamer Media Reporter Precious metals miner Primero Mining now expects to produce between 220 000 and 240 000 gold-equivalent ounces at a cash cost per ounce of between $675 and $725 in 2014. This represented a modest drop in output and a modest increase in costs when compared with the company’s previous guidance. “I... 

Newstrike Capital reports robust PEA for Ana Paula, Mexico

By: Creamer Media Reporter Precious metals company Newstrike Capital on Monday reported that the results of an independent technical report for a National Instrument 43-101 preliminary economic assessment (PEA) supported its view that Ana Paula was one of the best development-stage gold projects in Mexico. The company... 

Newstrike Capital reports robust PEA for Ana Paula, Mexico
Newstrike CEO Richard Whittall

Newmont sells out of its 44% stake in Penmont JV with Fresnillo

By: Henry Lazenby The world’s largest primary silver producer, London-listed Fresnillo, has agreed to buy Newmont Mining’s 44% stake in its Mexican joint venture for $450-million in cash. The deal would secure Fresnillo a foothold in Mexico’s gold industry, giving it control over the Herradura, Noche Buena and... 

Newmont sells out of its 44% stake in Penmont JV with Fresnillo

Gold price reform to focus on improved transparency, governance controls

By: Chantelle Kotze Instead of scrapping the century-old London Gold Fix altogether, gold industry role-players are calling for the modernisation of the method used to determine global gold price benchmarks, which is currently the subject of ‘intense’ debate, but not fundamentally regarded as broken. 

Gold price reform to focus on improved transparency,  governance controls

Yamana heads back to drawing board as C1 Santa Luz is shuttered

By: Henry Lazenby Yamana Gold on Wednesday said it would return to the drawing board and evaluate other gold extraction methods after the carbon-in-leach (CIL) circuit at C1 Santa Luz, in eastern Brazil, failed to achieve its designed recoveries owing to several factors. The TSX- and NYSE-listed gold producer... 

Yamana heads back to drawing board as C1 Santa Luz is shuttered

Southern Cross to buy Cobar’s NSW silver project

By: Esmarie Swanepoel ASX-listed Southern Cross Goldfields has announced it would spend A$375 000 to acquire the Wonawinta silver project, in New South Wales, from the now defunct Cobar Consolidated Resources. Cobar was placed in administration in March, after failing to raise funding. 

Southern Cross to buy Cobar’s NSW silver project

Master Drilling reports growth, but falls shy of expectations

By: Tracy Hancock JSE-listed Master Drilling on Thursday reported a 20.6% increase in revenue to $65.2-million for the six months ended June 30, from the $54.1-million recorded in the previous comparable period, while its profit was up 20.9% from $7.7-million to $9.3-million compared with the 2013 period. In its... 

Master Drilling reports growth, but falls shy of expectations

Endeavour Silver continues to follow Terronera high-grade vein

By: Henry Lazenby TSX- and NYSE-listed Endeavour Silver on Wednesday announced that exploration drilling continued to intersect high-grade silver/gold mineralisation in the Terronera vein system at the San Sebastián project, in Jalisco state, Mexico. The Vancouver-based miner, which operates three mines in Mexico,... 

Endeavour Silver continues to follow Terronera high-grade vein

Fortuna Silver significantly lifts San Jose resources

By: Henry Lazenby TSX- and NYSE-listed Fortuna Silver Mines on Wednesday reported a 42% rise in the contained silver and a 29% rise in the number of gold ounces contained in the measured and indicated categories at its San Jose mine, in Mexico. The South America-focused miner explained that the latest resource... 

Fortuna Silver significantly lifts San Jose resources

Mercator Minerals files for creditor protection

By: Henry Lazenby North American base metals miner Mercator Minerals on Tuesday filed for creditor protection in both Canada and the US after the board and its creditors could not agree on “several proposals” put on the table by interested parties that wanted to buy the struggling firm. TSX-listed Mercator... 

Mercator Minerals files for creditor protection

Rambler Metals tops full-year output guidance

By: Henry Lazenby Junior copper and gold producer Rambler Metals & Mining on Thursday said it had exceeded its 2014 full-year output guidance by significant margins. The TSX-V- and Aim-listed miner, which currently operated the Ming copper/gold mine, in Newfoundland and Labrador, pointed out that it had met or... 

Rambler Metals tops full-year output guidance

Fresnillo to proceed with second investment option at Coneto, Mexico

By: Henry Lazenby Mexican precious metals producer Fresnillo will proceed directly with the second investment option at the Coneto gold/silver project, in Durango, Mexico, after it has met the exploration expenditures of the first investment option. Under a February 2012 agreement between Fresnillo and explorer... 

Fresnillo to proceed with second investment option at Coneto, Mexico

Endeavour Silver consolidates position in Mexican gold/silver district

By: Henry Lazenby TSX- and NYSE-listed Endeavour Silver on Thursday reported that it had agreed to buy the La Bufa exploration property, next to its existing exploration properties in the Guadalupe y Calvo gold/silver district, in Chihuahua, Mexico, from explorer Lincoln Mining. To consummate the deal, Endeavour... 

Endeavour Silver consolidates position in Mexican gold/silver district

Starcore to buy American Consolidated Minerals in all-scrip deal

By: Henry Lazenby The TSX-listed stock of precious metals producer Starcore International on Wednesday closed up 22.58% after the company announced that it would buy explorer American Consolidated Minerals in an all-scrip deal. Starcore explores, extracts and processes gold and silver through its subsidiary... 

Starcore to buy American Consolidated Minerals in all-scrip deal
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