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Anglo's zinc loss now Vedanta's sweet gain

By: Martin Creamer London-listed diversified mining company Vedanta Resources has found itself in a sweet spot as the owner of the zinc assets that Anglo American saw fit to sell off four years ago, when China seemed in perpetual over supply mode and small operations abounded. But China is no longer supplying as it... 

Sandstorm Gold expects steady output to 2018

By: Henry Lazenby Precious metals streaming firm Sandstorm Gold expects to maintain a relatively steady production profile of around 45 000 oz/y of gold until 2018. The TSX- and NYSE-listed gold-streaming project financier this week reported total attributable gold output of 44 821 oz of gold equivalent sold in 2014. 

First Majestic narrows Q4 loss on higher output, cost cuts

By: Henry Lazenby Mexico-focused miner First Majestic Silver has narrowed its fourth-quarter loss after lifting silver-equivalent output and managing to significantly reduce costs. The NYSE- and TSX-listed miner reported a net loss after taxes for the three months ended December 31 of $64.6-million, or $0.55 a... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

Low commodity prices challenge diversified junior’s US operation

By: Dylan Stewart Low commodity prices are a significant challenge for diversified junior mining company Fortune Minerals’ only producing asset, the Revenue silver mine, in south-west Colorado, Mining Weekly learns from president and CEO Robin Goad and investor relations manager Troy Nazarewicz. 

Low commodity prices challenge diversified  junior’s US operation
ROBIN GOAD Fortune has now focused its mining activity on higher-grade areas of the Revenue mine to compensate for the lower commodity prices

Nevada project yields high-grade sampling results

Diversified mineral exploration and development company Sunrise Resources has attained further high-grade sampling results at its Bay State silver project, in the Eureka district of Nevada. 

Yamana Gold reports big loss on S American charges

By: Henry Lazenby South America-focused gold producer Yamana Gold has reported a significant net loss for the second consecutive quarter, as impairment charges for Brazilian mines and charges for newly enacted Chilean taxes have weighed on the bottom line.  For the three months ended December 31, Toronto-based... 

Samco Gold and Pan American Silver strike definitive option accord

By: Henry Lazenby TSX-V-listed Samco Gold's Argentinean subsidiary has executed a definitive option agreement with Pan American Silver (PAS), giving PAS the exclusive option to acquire a 60% interest in the El Dorado-Monserrat (EDM) project, in Santa Cruz, Argentina. A statement released on Monday explained that... 

Tahoe Resources to buy smaller rival Rio Alto for about C$1.3bn

By: Henry Lazenby Tahoe Resources and Rio Alto Mining have entered into a definitive agreement to combine their businesses in a C$1.3-billion cash-and-scrip deal that will see Tahoe gain footing in Peru while creating a new intermediate precious metals producer, the companies announced on Monday. The combined... 

Tahoe Resources to buy smaller rival Rio Alto for about C$1.3bn

Bisha, Harena resources increased – Nevsun

The measured and indicated resources of TSX-listed Nevsun’s Bisha and Harena deposits, in Eritrea, have increased to 1.2-billion pounds of copper, 3.4-billion pounds of zinc, 750 000 oz of gold and 42-million ounces of silver, following the completion of a 2014 drilling programme. The Bisha... 

Bisha, Harena resources increased – Nevsun

Prophecy reports significant assay results from Bolivia project

By: Henry Lazenby Significant precious-metal-grade assay results have been returned from samples taken at Mongolia, Bolivia and Canada-focused miner Prophecy Coal's recently acquired Pulacayo silver project, in Bolivia. Prophecy on Monday said it was encouraged by the silver grades found in the sampling, while... 

US Mint gold coin sales weakest for January since 2008

By: Reuters US Mint American Eagle gold coin sales in January rose from December but were the lowest for that month since 2008, as a rally in prices discouraged collector buying in what is typically a period of peak demand, data showed on Friday. The US Mint sold 81 000 oz of gold bullion coins this month,... 

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Patriot demands arbitration to resolve Northern Vertex option agreement

By: Henry Lazenby Emerging gold producer Patriot Gold has issued an arbitration demand to joint venture (JV) partner and optionee Northern Vertex Mining, citing unhappiness regarding the required scope and technical details of the bankable feasibility study (BFS) for the Moss gold/silver project, in Northwest... 

Miami precious metals refiner gains quality management system accreditation

By: Henry Lazenby Miami, Florida-based precious metals refiner Republic Metals has received the International Organisation for Standardisation’s (ISO) coveted ISO 9001:2008 registration for quality assurance and control, effective from Tuesday. Republic on Thursday reported that the third-party accreditation team... 

Nevsun expects lower copper output in 2015

The Bisha Mining Share Company (BMSC), which is 60% owned by TSX-listed miner Nevsun, is expected to produce between 160-million and 175-million pounds of copper in concentrate this year. This was lower than the 196-million pounds of copper in concentrate the company produced in 2014 against... 

Trevali’s Santander mine exceeds 2014 production guidance

By: Creamer Media Reporter In its first year of commercial production, Trevali Mining’s Santander mine, in Peru, delivered 50.4-million pounds of zinc, 23.3-million pounds of lead and 914 600 oz of silver, exceeding expected output. Production for the fourth quarter, ended December 31, was 11.2-million pounds of zinc,... 

Mawson West places Dikulushi mine on care and maintenance

By: Tracy Hancock TSX-listed Mawson West has concluded a review of its Dikulushi and Kapulo operations in the Democratic Republic of Congo (DRC) and, as a result, has decided to place the Dikulushi mine on care and maintenance. This follows the successful completion of the initial components of its $33.4-million... 

Investors to blame for supporting dithering juniors

By: Henry Lazenby In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

Precious-metals demand continues to buzz, biggest price move yet to come

By: Henry Lazenby Despite the fact that it often seemed as if the fundamental and the technical aspects of the precious metals market were at war with each other, silver bull David Morgan believed both methodologies could be used to great benefit. “These are not dead markets and based on research and experience,... 

Precious-metals demand continues to buzz, biggest price move yet to come

Ministerial talk of a South African mining champion pleases analyst 

By: Martin Creamer Talk of restoring the lost iconic status of the South African mining industry has gladdened the London-based Investec Global Research Team. “We’re glad to see growing political pressure in South Africa to restore the premier status of the mining industry,” the analyst team said in a note on Friday. 

Ministerial talk of a South African mining champion pleases analyst
Photo by Duane Daws
Minerals Minister Ngoako Ramatlhodi

Black Oak starts mining at Manuka

By: Esmarie Swanepoel ASX-listed junior Black Oak Minerals has started mining at its recently-acquired Manuka silver project, in New South Wales. Black Oak, previously known as Southern Cross Goldfields, acquired the Manuka project, then known as the Wonawinta silver project, from the now defunct Cobar Consolidated... 

First Majestic provides buoyant 2015 outlook

By: Henry Lazenby Mexico-focused miner First Majestic Silver on Tuesday reported a new record for full-year output from its five active mines, lifting precious metals production by 19% year-on-year. The Vancouver-based firm reported 15.26-million silver equivalent ounces, consisting of 11.75-million ounces of... 

Coeur Mining to buy Wharf mine from Goldcorp

By: Henry Lazenby The US’s largest primary silver producer Coeur Mining has agreed to buy Goldcorp’s Wharf gold mine, a producing gold mine located near Lead, South Dakota, for $105-million in cash. Coeur said on Monday that the mine was expected to produce 85 000 zo to 90 000 oz of gold this year at an all-in... 

Record Q4 output bumps up Endeavour Silver’s stock

By: Henry Lazenby The TSX-listed shares of Mexico-centric precious metals producer Endeavour Silver on Monday rose nearly 10% after the company reported record silver output of two-million ounces. The Vancouver-based company said fourth-quarter output was up 4% over the corresponding quarter a year earlier,... 

With no major catalysts on the cards, gold seen trending at $1 200/oz in 2015

By: Henry Lazenby The gold price is expected to trend at $1 200/oz in 2015, with no significant catalysts expected to move the gold price higher. Financial services firm Desjardins Capital Markets on Wednesday published its 2015 precious metals outlook, saying that near-term headwinds for the gold price, such as... 

With no major catalysts on the cards, gold seen trending at $1 200/oz in 2015

Project delay and lower grades prompt Silver Wheaton to adapt streaming contracts

By: Henry Lazenby Delays in completing the massive Pascua-Lama copper/gold project, straddling the Argentina/Chile border, have prompted the world’s largest precious metals streaming firm Silver Wheaton to amend the silver streaming agreement with project promoter Barrick Gold to extend both the completion test... 

Project delay and lower grades prompt Silver Wheaton to adapt streaming contracts

Coeur Mining solidifies Palmajero future with Paramount Gold and Silver acquisition

By: Henry Lazenby The US’s largest primary silver producer Coeur Mining on Wednesday announced that it had agreed to buy Paramount Gold and Silver for $146-million in scrip, giving Coeur control over Paramount’s San Miguel project that covers about 121 000 ha surrounding Coeur’s Palmarejo mine, in Chihuahua,... 

Coeur Mining solidifies Palmajero future with Paramount Gold and Silver acquisition

Osisko Gold Royalties agrees to provide C$10m loan to Highland Copper

By: Henry Lazenby Gold-focused royalty and stream company Osisko Gold Royalties on Tuesday said it had agreed to give Canadian explorer Highland Copper Company a C$10-million secured loan in exchange for, among other things, a 3% sliding-scale net smelter return (NSR) royalty on all metals produced from the White... 

Gold miners report new discoveries

By: Henry Lazenby Gold producers Aurico Gold and Yamana Gold on Monday reported that 2014 exploration programmes had resulted in new discoveries at Aurico’s Kemess East project, in north-central British Columbia, and Yamana’s El Penon gold/silver mine, in Chile, and Chapada, in Brazil. TSX- and NYSE-listed Aurico... 

Samco Gold to acquire Peruvian base metals project

By: Henry Lazenby Argentina-focused Samco Gold on Friday announced that it had signed an agreement to buy two Peruvian subsidiaries of Mantaro Resources for about $3.4-million in cash and scrip, which would give it control over exploration and mining concessions over the Dino polymetallic property. Samco would... 

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