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Great Panther Silver eager to start work on Coricancha

By: Henry Lazenby Mexico-focused Great Panther intends to start, as soon as possible, surface drilling at the Coricancha mine complex, through which it has gained a foothold in Peru, the second largest silver producing country in Latin America. The surface drilling will focus on defining and expanding zones of... 

South32 in superb second-day share surge

By: Martin Creamer The share price of the new South32 mining company soared superlatively on day two. The demerged entity shot up 14% on the Australian Stock Exchange (ASX), rose 6.23% on top of Monday’s 3% rise in early morning trade on the Johannesburg Stock Exchange (JSE), and even closed higher at £1.08 a share... 

South32 in superb second-day share surge
Photo by Duane Daws
Mike Fraser at South32 listing in Johannesburg.

South32 shares rise on JSE debut, BHP Billiton shares fall

By: Martin Creamer Value generation from the assets of South32 in the months ahead of its debut on the Johannesburg Stock Exchange (JSE) is indicative the upside potential of the triple-listed BHP Billiton spin-off company, which saw its shares end up well in the money at the JSE's close on Monday and those of BHP... 

South32 shares rise on JSE debut, BHP Billiton shares fall
Photo by Duane Daws
Mike Fraser (left) with Martin Creamer at South32 listing.

Chile cuts mining investment outlook by $30bn over next decade

By: Reuters Chile scaled back its expectations for investment in its vast mining industry by some $30-billion over the next decade, due to fewer gold mines being developed and other projects being delayed, Mining Undersecretary Ignacio Moreno said on Thursday. Mining investment in Chile, the world's top... 

Kootenay Silver options San Diego property to AuRico Gold

By: Henry Lazenby TSX-listed Kootenay Silver on Thursday announced that its Mexican subsidiary Minera JM (MJM) had entered into an option agreement with fellow TSX-listed miner AuRico Gold’s subsidiary Oro de Altar (ODA) that would allow ODA to earn up to a 100% interest in Kootenay’s San Diego property, in... 

Workers at Buenaventura silver mine in Peru on strike -company

By: Reuters Contract workers at Peruvian Buenaventura's silver mine Uchucchacua went on strike to press for better working conditions, the company said on Monday in a filing with the country's market regulator. 

Panoro positioned for growth in Peru’s copper-producing nexus

By: Henry Lazenby With a preliminary economic assessment (PEA) for its flagship project in hand and Peru having made it a national goal to double its copper output by next year, Canadian copper explorer Panoro Minerals is positioned for growth. The PEA published early last month on its Cotabambas porphyry... 

Despite cresting 10m silver-equivalent oz output level, Silver Wheaton’s Q1 earnings fall

By: Henry Lazenby The world’s largest precious metals streaming firm Silver Wheaton has, for the first time, produced more than ten-million silver-equivalent ounces in a quarter, driven by its recent $900-million acquisition of a further 25% of gold from Vale’s Salobo mine, in Brazil, as well as the first... 

Despite cresting 10m silver-equivalent oz output level, Silver Wheaton’s Q1 earnings fall

Hudbay narrows Q1 loss, declares commercial production at Constancia

By: Henry Lazenby Canadian base metals miner Hudbay Minerals has reported a narrower first-quarter loss on the back of improved output and sales, despite reporting a significant inventory build-up. The Toronto-based company, with assets in Canada, the US and Peru, reported a net loss of $23.7-million, or $0.10 a... 

Recent royalty acquisitions lower Franco-Nevada headline earnings

By: Henry Lazenby Precious metals royalty and streaming firm Franco-Nevada has reported lower adjusted profit for the three months ended March 31, as higher depletion and costs of sales related to its recent royalty acquisitions, such as at Candelaria, Sabodala and Fire Creek, were only partially offset by lower... 

Primero reports strong start to year owing to San Dimas

By: Henry Lazenby Precious metals producer Primero Mining reported a strong start to the year, as better-than-expected performance by the company’s cornerstone San Dimas mine, in Mexico, underpinned a significant production and cost improvement. The TSX- and NYSE-listed miner on Wednesday said it’s headline... 

Endeavour Silver’s Q1 profit sags on lower output, prices

By: Henry Lazenby Mexico-focused miner Endeavour Silver has reported lower net earnings for the first quarter as lower output, prices and higher costs offset gains in currency fluctuations. For the three months ended March 31, the NYSE- and TSX-listed company, which operates the Guanaceví mine, in Durango state,... 

No relief for Canada's BC as PwC expects challenges to continue into 2015

By: Henry Lazenby British Columbia's (BC's) mining sector was not showing any early signs of improvement in 2015; however, investment in the mining industry needed continue despite today's challenging conditions, advised PwC's BC mining practice partner and leader, Mark Platt. "Miners need to keep exploring if... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

By: Henry Lazenby A new study has found that the cost to explore and build new mines is as much as 2.5 times higher in northern Canada, mainly as a result of a lack of critical infrastructure. The study, titled ‘Levelling the Playing Field’, found that the cost of mineral exploration and building and operating... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

US February silver output continues slide

By: Henry Lazenby US silver output has declined by a further 5% during February, after recording an 11% quarter-on-quarter drop in January. According to the US Geological Survey’s latest mineral industry survey, US mines produced 84 400 kg of silver in February, compared with 89 300 kg in January, which was a... 

Production up at Glencore’s South African coal mines

By: Martin Creamer Production from Glencore’s South African thermal coal mines was 10% higher in the three months to end March. The London-, Hong Kong- and Johannesburg-listed diversified mining and marketing company, headed by CEO Ivan Glasenberg, said on Tuesday that the ramp up of its newly commissioned... 

Production up at Glencore’s South African coal mines
Photo by Duane Daws
Ivan Glasenberg

Oral hearings in TriMetals Mining’s intl arbitration against Bolivia confirmed for July next year

By: Henry Lazenby TSX-listed TriMetals Mining, formerly South American Silver (SAS), will get its day in court in July next year, a little later than the previously expected May 2016 date, as it pursues its international arbitration claim against Bolivia. TriMetals on Monday said after concluding consultation with... 

Strategic minerals and the aerospace and defence industries

By: Keith Campbell The term “strategic minerals” is one that is much used but one that, in the words of Brazilian minerals lawyer Raquel Quaresma de Lima, “does not have a steady definition”, while the Science and Technology Committee of the UK House of Commons has observed that there is “no single definition of... 

Strategic minerals and the aerospace and defence industries

Grupo Mexico's profit falls 6% in first quarter

By: Reuters Grupo Mexico's first-quarter profit fell 6.18%, the company said on Tuesday. Grupo Mexico said first-quarter profit fell to $372.6-million from $397-million in the year-earlier period. 

US silver output drops 11% q/q in January

By: Henry Lazenby US mines produced 89 100 kg of silver in January, an 11% decrease when compared with December silver output of 99 900 kg and a 7% decrease compared with that of January 2014, the US Geological Survey had found in its latest mineral industry survey for the grey metal. Based on unrounded data, the... 

South32 weakness hidden – Investec

By: Martin Creamer Good overall third-quarter production performance by BHP Billiton hid the weaker performance of most of the assets that make up South32, Investec Securities mining analyst Hunter Hillcoat says. BHP Billiton intends simplifying its portfolio by demerging the South32 metals and mining company,... 

South32 weakness hidden – Investec
Photo by Duane Daws
Graham Kerr

Mining firms replenish coffers

By: Henry Lazenby Several miners this week successfully completed private placements to shore up their balance sheets in anticipation of pursuing their strategic corporate objectives. Africa-focused project developer Ivanhoe Mines and China-based Zijin Mining Group on Monday closed an $85-million private... 

Vale reports record Q1 iron-ore output despite price rout

By: Henry Lazenby Brazil-based global miner Vale has reported record first-quarter iron-ore output despite a global supply glut that wis being compounded by waning demand from China, the world’s top importer of the steelmaking ingredient. For the three months ended March 31, total iron-ore output, excluding... 

Vale reports record Q1 iron-ore output despite price rout

Canada’s mining industry welcomes federal budget 

By: Henry Lazenby Canada's national mining association has welcomed the Conservative government’s balanced federal budget 2015, citing its pleasure with renewed funding for critical areas such as environmental assessments, the Major Projects Management Office, Aboriginal education and training, and geoscience.... 

Canada’s mining industry welcomes federal budget
Photo by Reuters
Canada's Finance Minister Joe Oliver on Tuesday tabled a C$990.3-billion balanced budget.

Solvista and Rockcliff ink merger accord to further Manitoba projects

By: Henry Lazenby TSX-V-listed juniors Solvista Gold and Rockcliff Resources signed a definitive amalgamation agreement on Friday that would see Solvista acquire all the issued and outstanding common shares of Rockcliff. The all-scrip transaction would combine Rockcliff’s Snow Lake copper/gold/zinc/silver prospect... 

Siemens awarded entire Nautilus Minerals support vessel electric contract

By: Henry Lazenby Prospective marine miner Nautilus Minerals has awarded Siemens International Trading (Shanghai), a subsidiary of Siemens, the entire electrical installation contract for its support vessel currently being designed and built by Fujian Mawei Shipbuilding, in Fujian province, in south-eastern China.... 

Miners report first-quarter output ahead of financials

By: Henry Lazenby Several miners reported production results this week ahead of publishing financial results for the three months ended March 31. NYSE- and TSX-listed McEwen Mining reported 23% increased gold output to 24 696 oz and a decline in silver production of 10% to 655 339 oz in the period when compared... 

Tahoe Resources to appeal employee detention

By: Henry Lazenby Vancouver-based Tahoe Resources this week said Guatemala subsidiary Minera San Rafael (MSR) would appeal the court-ordered confinement of an employee pending the investigation of a 2012 environmental claim. The TSX- and NYSE-listed miner said the employee was in charge of regulatory issues,... 

First Majestic Silver precious metals output lower as grades sag

By: Henry Lazenby Mexico-focused precious metals miner First Majestic Silver has reported 4% lower first-quarter silver output as grades at all five of its active mines decreased by 13%. The Vancouver-based miner reported total silver output for the three months ended March 31 of 2.78-million ounces of silver,... 

Arguments start on whether BC Supreme Court has say in Guatemalan violence suit

By: Henry Lazenby Vancouver-based Tahoe Resources on Wednesday argued in the British Columbia Supreme Court to dismiss a civil suit launched last year by seven Guatemalan protesters who were shot during a peaceful protest outside the Escobal silver/lead/zinc mine, in south-eastern Guatemala. The seven men were... 

Arguments start on whether BC Supreme Court has say in Guatemalan violence suit
Photo by Tahoe Resources
The Escobal silver/lead/zinc mine, in south-eastern Guatemala.

First Majestic Silver launches C$30m offering

By: Henry Lazenby Precious metals producer First Majestic Silver on Monday announced that it had entered into an agreement with BMO Capital Markets, under which BMO had agreed to buy 4.62-million shares of the company, at C$6.50 apiece for gross proceeds of C$30.03-million. First Majestic explained that it... 

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