R/€ = 16.45 Change: -0.01
R/$ = 15.19 Change: -0.04
Au 1644.62 $/oz Change: -37.65
Pt 965.08 $/oz Change: -9.58

Silver News

Precious metals bull Excellon buys Otis Gold

By: Mariaan Webb     24th February 2020 The share price of Vancouver-headquartered Otis Gold surged 28% on Monday, following the news that Toronto-listed Excellon Resources would buy the company. The combined business would combine Excellon’s Platosa high-grade silver mine, in Mexico, with Otis’ “high-return, low-risk” Kilgore... 

Fresnillo announces early underground start at Juanicipio

By: Creamer Media Reporter      24th February 2020 The start-up of the Juanicipio silver and gold underground mine, in Mexico, has been brought forward to mid-2020, London-listed Fresnillo announced on Monday. Underground production will now start ahead of schedule in June, at an additional cost of $45-million, the company said in a statement.... 

Hudbay prepares for next phase of growth

By: Mariaan Webb     24th February 2020 Dual-listed Hudbay Minerals is preparing for the next phase of growth, focusing on mining the high-grade Pampacancha satellite deposit, in Peru, and completing the refurbishment of the New Britannia gold mill, in Canada. Both projects, CEO Peter Kukielski says, require low capital intensity, but... 

New Orion- and Yamana-linked royalty company launched

By: Mariaan Webb     24th February 2020 Orion Resource Partners and Yamana Gold on Sunday announced the launch of a new precious metals royalty company, with assets in Africa, Australia, North America and South America. TSX-V-listed Guerrero Ventures will acquire royalty, stream and gold loan assets from Orion and Yamana for... 

Pan American hikes quarterly dividend 43%

By: Creamer Media Reporter      21st February 2020 Nasdaq- and TSX-listed Pan American Silver has had a strong 2019, during which it generated $282-million in operational cash flow, allowing for $60-million in debt to be retired, a shareholder payout of about $29-million, investment in new projects and an improved cash position. The miner... 

Coeur to reposition Silvertip, operations suspended

By: Mariaan Webb     21st February 2020 NYSE-listed precious metals miner Coeur has temporarily suspended operating activities at its Silvertip zinc/lead/silver mine, in British Columbia, Canada, as the mine struggles to generate positive cash flow amid deteriorating zinc and lead markets. Silvertip, which represents about 6% of... 

Coeur to reposition Silvertip, operations suspended

Ethical engagement rings that are truly eco-friendly, guilt-free

By: Bloomberg     20th February 2020 When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the Internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced.  After... 

Silvercorp resumes operations at China mines

By: Creamer Media Reporter      19th February 2020 Dual-listed Silvercorp Metals has resumed mining operations at its Ying and CG mines, following an extended holiday period shutdown in line with the Chinese government’s efforts to contain the spread of the coronavirus. Silvercorp’s production was suspended on January 17 for the Chinese New Year... 

First gold pour at Americas' Relief Canyon

By: Mariaan Webb     19th February 2020 The Relief Canyon gold mine, in Nevada, has successfully poured its first gold and has now completed initial construction within its budget of $28-million to $30-million, TSX- and NYSE American-listed Americas Gold and Silver reported on Tuesday. The first gold pour was achieved in nine months... 

Gold tops $1 600 as virus fuels growth fears

By: Bloomberg     19th February 2020 Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium topped $2 700/oz as it continued its record-breaking rally. Bullion steadied after surging 1.3% Tuesday’s as Apple’s warning that the virus and efforts... 

Hudbay to start mining at Pampacancha in late 2020

By: Mariaan Webb     19th February 2020 The community of Chilloroya has formally approved a surface rights agreement with TSX- and NYSE-listed miner Hudbay for the Pampacancha satellite deposit, located near the Constancia mine, in Peru, paving the way for mining to commence from the deposit in late 2020. Announcing the agreement,... 

Hudbay to start mining at Pampacancha in late 2020
Hudbay president and CEO Peter Kukielski

Silver Institute says price will bounce back this year

By: Creamer Media Reporter      17th February 2020 Silver is expected to shine this year, on the back of a positive spill-over from gains in gold, with the yellow metal continuing to benefit from macroeconomic and geopolitical uncertainties across critical economies. Washington-based Silver Institute is forecasting a silver price gain of 13% to... 

Silver Institute says price will bounce back this year

Angola seeks to make itself a more mining-friendly jurisdiction

By: Rebecca Campbell     14th February 2020 Angola will this year initiate a new governance system for the country’s mining industry, the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, confirmed at the recent Investing in African Mining Indaba in Cape Town. The new system will include the new National Agency for... 

Silvercorp's third-quarter profits fall on foreign exchange loss, lower prices

By: Creamer Media Reporter      7th February 2020 Canadian miner Silvercorp, which produces silver, gold, lead and zinc from its mines in China, reported income attributable to equity shareholders of $6.3-million, or $0.04 a share for the quarter ended December 31 – the third quarter of its 2020 financial year. This was lower than income... 

Palladium, rhodium prospects strong

By: Cameron Mackay     7th February 2020 While palladium and rhodium prices increased last year and continue to do so this year, prices are expected to stabilise and decrease once political factors and tension in the global economy decline. Despite this, international commodities consultancy Core Consultants MD Lara Smith notes that the... 

Palladium, rhodium prospects strong
SUPPLY CONSTRAINTS The main local PGM supply risk comes from Eskom’s power supply shortages, and mine closures on the Bushveld Complex where shafts have reached their end-of-life

Blockade halts mining at Americas' Cosalá

By: Creamer Media Reporter      3rd February 2020 Precious metals producer Americas Gold and Silver has halted mining and processing operations at the Cosalá mine, in Mexico, after a group of individuals, including unionised workers, blocked access to facilities. The company, which trades on the TSX and NYSE American, said on Monday that it had... 

First Majestic hires former Barrick VP as COO

By: Creamer Media Reporter      3rd February 2020 Mining engineer Steve Holmes, a former vice-president (VP) of Barrick Gold’s joint venture portfolio, has joined NYSE- and TSX-listed First Majestic Silver as COO. In his new role, he will be responsible for overseeing the operational functions at First Majestic’s Mexican portfolio of silver... 

Endeavour Silver expects strong performance in 2020

By: Tasneem Bulbulia     3rd February 2020 Dual-listed Endeavour Silver is forecasting better performance from its operating mines in 2020, with a slight decrease in consolidated production owing to the suspension of mining at El Cubo. Operating costs at Guanacevi, Bolanitos and El Compas should decline through the year as productivity... 

China-focused Silvercorp extends holiday shutdown

By: Creamer Media Reporter      30th January 2020 Canadian mining company Silvercorp, which produces silver, lead and zinc metals in concentrates from mines in China, is taking an extended holiday season, in line with the Chinese central government’s efforts to contain the spread of the coronavirus. Silvercorp’s production was suspended on... 

Fresnillo annual output falls on Noche Buena mine closure, lower grade ore

By: Reuters     29th January 2020 Precious metals miner Fresnillo said on Wednesday its annual gold and silver production fell, hurt by the phasing out of its the Noche Buena mine and lower-grade output from Saucito and San Julián projects in Mexico. Gold output from the Noche Buena mine decreased 23.9% in the year because of... 

Alianza partners with Coeur in Yukon

By: Creamer Media Reporter      27th January 2020 Explorer Alianza Minerals is bringing on board NYSE-listed Coeur Mining to take the road-accessible Tim property, in southern Yukon Territory, forward. The property is located 12 km south of Coeur’s Silvertip mine.  

Bluejay prepares for ‘highly active’ year in Greenland

By: Creamer Media Reporter      27th January 2020 Greenland-focused Bluejay Mining is preparing for a “highly active” year ahead, as it plans for a maiden drilling campaign at its newly enlarged Kangerluarsuk zinc/lead/silver project, while work continues at the advanced Dundas ilmenite project and the Disko-Nussauq project. Bluejay CEO... 

Khoemacau begins decline development

By: Darren Parker     24th January 2020 Development work is well under way at the Khoemacau copper and silver project in Botswana, with mining contractor Barminco beginning decline development for the new underground mine in Zone 5 this month. Early construction activities started in early 2019, with mine construction, development and... 

Khoemacau begins decline development
THE HOLE PICTURE The boxcuts are near completion, with decline development progressing well

SA crane company buying local, expanding globally

By: Rebecca Campbell     24th January 2020 South African company Condra Cranes & Hoists remains committed to supporting the local manufacturing industry, company MD Marc Kleiner tells Engineering News & Mining Weekly. “We buy locally from South African suppliers instead of importing components, and we believe other manufacturers should... 

Polymetal beats guidance again

By: Mariaan Webb     23rd January 2020 Polymetal, one of Russia’s largest gold and silver producers, has exceeded its guidance for the eight year in a row. The LSE-listed miner’s 2019 gold-equivalent production amounted to 1.61-million ounces. This is an increase of 3% on 2018 and is 4% above the original production guidance of... 

Polymetal beats guidance again
Polymetal CEO Vitaly Nesis

First Majestic to focus only on most profitable silver and gold mines

By: Creamer Media Reporter      22nd January 2020 Following the suspension of high-cost lead and zinc mines, Mexico-focused miner First Majestic Silver is gearing up for a year in which the company will focus on cost reduction and innovation at its most profitable silver and gold mines. In 2020, First Majestic will produce between 11.8-million... 

Cordoba completes C$11m strategic equity investment

By: Simone Liedtke     20th January 2020 TSX-V-listed Cordoba Minerals has completed the strategic equity investment, totaling about C$11-million, by JCHX Mining Management. Cordoba has issued over 91.3-million common shares to JCHX through a private placement at a price of C$0.12 a share. With the completion, JCHX now owns about 19.9%... 

SSR hopes to carry 2019 momentum into 2020

By: Mariaan Webb     16th January 2020 Vancouver-based SSR Mining has achieved record production again in 2019 on the back of solid operating performance at each of its three operations – Marigold, in the US, Seabee in Canada and Puna, in Argentina. The company’s produced a record 421 906 gold-equivalent ounces (GEO) last year,... 

First Majestic produces at top-end of guidance

By: Creamer Media Reporter      16th January 2020 Mexico-focused First Majestic Silver boosted its production by 15% in 2019 to 25.6-million silver-equivalent ounces (SEO). This was also at the top end of its 24.4-million to 26-million SEO guidance. Silver production reached 13.2-million ounces, representing a 13% increase over 2018 and within... 

Pan American Silver CEO says 2020 should be a rewarding year

By: Mariaan Webb     15th January 2020 Precious metals miner Pan American Silver is entering 2020 as a “much larger, stronger and more profitable” company, following its 2019 acquisition of Tahoe Resources, standing it in good stead to capture the benefits of the current strong metal prices. During the 2019, which CEO Michael... 

Pan American Silver CEO says 2020 should be a rewarding year
Pan American Silver CEO Michael Steinmann

Gran Colombia sets new high water mark

By: Tasneem Bulbulia     15th January 2020 Canada-based mid-tier gold producer Gran Colombia Gold produced a total of 22 391 oz of gold in December, bringing the total for the fourth quarter of 2019 to a new quarterly record of 65 237 oz compared with 55 260 oz a year earlier.  The miner produced a new yearly record of 239 991 oz in 2019,... 

Debt-free Anglo Asian starts off 2020 ‘strong’

By: Marleny Arnoldi     14th January 2020 Aim-listed Anglo Asian Mining is able to pay off its final instalment of its refinancing loan, effectively becoming debt free, after a strong net cash generation of $21.1-million last year. The company managed to increase its net cash from $6.1-million at the start of last year to $21.1-million... 

Great Panther set to build on strong 2019

By: Tasneem Bulbulia     14th January 2020 Intermediate gold and silver miner Great Panther is anticipating building on 2019’s strong production growth as it goes into 2020, while continuing to execute on key operational initiatives in Brazil and Mexico, including expanded exploration programmes, interim president and CEO Jeffrey Mason... 

Comstock progresses with acquisition, disposal objectives

By: Marleny Arnoldi     9th January 2020 NYSE-listed precious metals miner Comstock Mining on Thursday announced the sale of its two properties in Silver Springs and water rights for about $10-million. The sale of the nonmining assets will allow Comstock to eliminate its remaining debt of $4.9-million and fund its planned growth... 

Prophecy details plans for 2020, proposes name change

By: Mariaan Webb     8th January 2020 Canada-headquartered explorer Prophecy Development has two major objectives for 2020: increasing silver ounces at the Pulacayo project, in Bolivia, and bolstering investor awareness. In a statement addressing investors, executive chairperson John Lee and CEO Michael Doolin on Wednesday outlined... 

Hecla reaches record gold production in 2019

By: Marleny Arnoldi     7th January 2020 NYSE-listed Hecla Mining produced 272 873 oz of gold in 2019, which was a 4% year-on-year increase and marked the highest gold production in the company’s history. The company also produced 12.6-million silver ounces, which was 22% higher year-on-year.  

Sibanye appoints non-independent, non-executive directors

By: Simone Liedtke     18th December 2019 Dual-listed miner Sibanye Stillwater has appointed Wang Bin and Lu Jiongjie as non-independent, non-executive directors to the company’s board with effect from January 1, 2020. The appointments are pursuant to a written merger agreement entered into in August 2013 between Sibanye Gold and Gold... 

Environmental approval granted for Gold Fields Chile project 

By: Simone Liedtke     18th December 2019 The Atacama Environmental Assessment Commission has approved the environmental impact study for dual-listed gold miner Gold Fields’ Salares Norte project, in Chile. The environmental approval is a crucial step for Gold Fields as it evaluates a construction decision. 

Environmental approval granted for Gold Fields Chile project
Gold Fields CEO Nick Holland
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